Is it legal to build and use my own trading platform?

Question

And can I connect it directly to the stock exchange as all brokers do (meaning I won't need their services)?

Answer 1

You could build your own trading platform but it will cost you tons of money to connect to existing vendors.  Start at five thousand a month for some basic services, and you will need a high speed dedicate line for transmission.

You will never be able to connect to the Exchanges directly since you must be a member, you may be able to connect to some vendors but again be ready to pay big bucks

Unless you're doing at least 100 trades a month and netting a solid 50,000 don't waste your time

Answer 2

Yes it's legal to build and use your own trading platform BUT you it is illegal to connect to the exchange.

Exchange information is available only to its members and those vendors that have been approved by the membership

You can not buy/sell securities in the United States without going through a registered broker/dealer

Answer 3

1) Yes.

2) No.

Answer 4

sure, if you have the money to pay for the quotes.

but be warned, a direct data feed from the NYSE is probably in the mid-six figures range per year.

even hedge funds and most other investment firms don't do this.  they rely on a Bloomberg or something for their live feeds.  a Bloomberg terminal is much more cost-effective: only baout $5-6k/month.

Answer 5

Why would the NYSE let an unknown source, with dubious (if any) security  connect to their network???  A secure site, would not stay secure for very long if they let this happen.