Hi,
I am currently writing conditions and processes for automated equity arbitrage ADR/Local.
I would appreciate any advises and help from experienced traders who are willing to help me on that.

Currently when a predefined ADR/Local spread is hit, i execute buy sell order simultaneously on ADR and local side in packages of 100 shares until a certain budget limit is hit say 8000 USD per stock or the previous condition of the spread is no longer valid.

This is a really brief summary but it sums up the main idea. What else do i have to consider apart from the execution of the FX orders which will be created at a certain benchmark.