Sergey Luts (also published as Sergiy Lutsak) is the founder of HFT Software and the developer behind HFT-Arbitrage-Plattform, arbitrage software for forex, gold and crypto markets. He has specialized in high-frequency trading systems since 2000, with a focus on latency arbitrage, fast price feeds and low-latency order execution.
At a glance
- Role
- Founder of HFT Software; developer of HFT Arbitrage Platform
- Experience
- HFT system development since 2000: arbitrage strategies, execution tools, trade copiers
- Bildung
- Dnipropetrovsk State Technical University, graduated 1999
- Focus areas
- Latency arbitrage, fast data feeds, broker execution and market microstructure, FIX API, MT4 / MT5 / cTrader connectivity
- Languages
- Python, C#, C++
- Also develops
- HFT Devisen Kopierer, a trade copier for MT4, MT5, cTrader and FIX API
- Publishes as
- Sergiy Lutsak on LinkedIn, Academia.edu, DEV, Hashnode and Medium
Background
Sergey was born in Dnipropetrovsk (now Dnipro), Ukraine, and graduated from Dnipropetrovsk State Technical University in 1999. Since 2000 he has specialized in high-frequency trading systems, building solutions for professional trading environments, including a successful trading system created for a hedge fund.
He later chose his own path, assembled a team of mathematicians and traders and founded HFT Software to develop next-generation trading technology. Over the years he has contributed to hundreds of trading strategies, all thoroughly tested and refined, with only the most effective released for sale and real-world use. His portfolio includes dozens of arbitrage strategies, high-performance execution tools and an exceptionally fast Forex trade copier.
On this site Sergey writes about how latency arbitrage works in practice: where price lag comes from, what infrastructure the strategy needs, and how brokers detect and respond to it. His 2026 research paper covers the same ground as a formal survey.
Research and publications
Research papers
Lutsak, S. (2026). Trade Replication Latency in Retail Foreign Exchange: A Decomposition Framework and Measurement Protocol for Cross-Platform Copy Trading. Academia.edu.
Breaks trade copier latency into six measurable components, compares local, cloud, server-side and FIX-based replication, and shows when a strategy’s edge survives being copied and when it should run natively instead.
Lutsak, S. (2026). Latency Arbitrage in Retail Foreign Exchange: Mechanisms, Detection, and the Broker Response. Academia.edu.
A formal survey of latency arbitrage in retail foreign exchange: the mechanism, a taxonomy of strategy variants, infrastructure requirements, broker-side detection methods and the countermeasures that follow.
Articles
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FIX 4.4 in C# From Scratch: Build, Checksum and Parse Orders Without a Library
A hands-on C# walkthrough of the FIX 4.4 wire format: building a NewOrderSingle, getting BodyLength and CheckSum right, framing the TCP stream and parsing fills without allocations.
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MT4/MT5 to FIX API: Should You Bridge It, or Trade Direct?
When to keep MetaTrader and bridge trades to a FIX account, and when to drop it and trade FIX directly for lower latency.
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Why Your Forex Broker’s Price Is Always a Few Milliseconds Behind Reality
Where the delay in retail forex quotes comes from, who profits from it and why the broker response ends up widening spreads for everyone.
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Forex Copier Coding Based on Forex Bots
How master and slave Expert Advisors pass trades to each other, shown with a minimal MQL4 example, plus the gaps a real copier has to close.
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Arbitrage trading from a forex broker’s perspective with our comments
A broker-side view of arbitrage: delayed execution, sequential order processing, minimum hold times and virtual dealer plug-ins, with the author's counterarguments.
Selected articles on this site
- Latenzarbitrage — Wie es funktioniert und was es braucht
- Was ist Hochfrequenzhandel auf den Devisen- und Kryptowährungsmärkten?
- Forex Broker, die Arbitrage zulassen: Ein vollständiger Leitfaden für 2026
- Meine Erfahrungen und Einblicke in den Hochfrequenzhandel (HFT)
Sergey’s articles explain trading technology for educational purposes. Nothing here is investment advice, and leveraged trading carries a high risk of loss.