Pre-Clearance with Compliance Departments

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Pre-Clearance with Compliance Departments

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Seeking Help Getting Started

Hi! I've been working on a simple momentum strategy and now it's time to think about trading! But what is the recommended way of doing that when you work in the Financial industry and when you have Compliance Departments that require all trades to be pre-cleared and approved before routing to market?

A related post can be found here but I don't see a simple resolution.

Right now, I'm thinking that I won't be able to connect Quantopian to Interactive Brokers at all. Rather, perhaps I will need to paper trade forever, generating orders, downloading them to generate pre-clearance requests one-by-one for each of about 120 of them per month. And then I'll need to take the approved list and maybe enter them manually into IB after that. Not a fan of that approach.

The problem is that I can't have Quantopian route orders to IB before they've been approved so what I want is some way to intercept the trades before that happens... otherwise I'll be in trouble! For me, getting pre-clearance means taking a ticker, an amount, and an order type (market/ limit) and entering it into a web-form (I'm thinking that I'll try web-scraping techniques to auto-populate it and to possibly check on results).

I could maybe schedule my algorithm to trade 2 hours after market and somehow get the list of securities at market open and get approval for these... but then how would I prevent the algo from sending out rejected trades?

Ideas?!

My issue is only with stocks... so bring on that Futures data! That's what I really want :-)

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The material on this website is provided for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation or endorsement for any security or strategy, nor does it constitute an offer to provide investment advisory services by Quantopian.

In addition, the material offers no opinion with respect to the suitability of any security or specific investment. No information contained herein should be regarded as a suggestion to engage in or refrain from any investment-related course of action as none of Quantopian nor any of its affiliates is undertaking to provide investment advice, act as an adviser to any plan or entity subject to the Employee Retirement Income Security Act of 1974, as amended, individual retirement account or individual retirement annuity, or give advice in a fiduciary capacity with respect to the materials presented herein. If you are an individual retirement or other investor, contact your financial advisor or other fiduciary unrelated to Quantopian about whether any given investment idea, strategy, product or service described herein may be appropriate for your circumstances. All investments involve risk, including loss of principal. Quantopian makes no guarantees as to the accuracy or completeness of the views expressed in the website. The views are subject to change, and may have become unreliable for various reasons, including changes in market conditions or economic circumstances.