Date/Time: Thu, 17 Jun 2021 17:45:15 +0000
Post From: TT Based Order Routing Service: TT Interruption
Sierra Chart Engineering - Posts: 96589 | Ending Date: 2022-04-10
We want to explain something further, and make it very clear, that the situation that has gone on with TT, is not something we have control over, is not our fault, and as a matter between you and your broker.
Now we will always try to be as helpful as we can, but the message flow on this board at this time, is more than we can keep up with.
Sierra Chart has evolved, and is much more than a front end charting and trading program. We now offer our own market data feeds with direct connectivity to exchanges.
However, still when it comes to trading the traditional method by which Sierra Chart connects to systems through trading, with the exception of Rithmic, is through protocol-based APIs. If you have trouble with an external system that Sierra Chart is interfaced to, no matter whether that is Interactive Brokers or CQG, in most cases, this is just something that does not involve us. Perhaps there could be some technical problem that we need to resolve or improve upon. But at this point in time, all of these interfaces are properly implemented and stable.
In the case of the Sierra Chart order routing service, rather than Sierra Chart connecting directly to the trading server from the external trading service , there is an intermediary server. This intermediary server provides enhancements like long-term order fill logging, managing OCO and bracket orders in a stable controlled environment, and providing a common standardized logon (Now this last point, is really quite important).
A common standardized logon. Do we really want to every day be answering questions about users not being able to log on and not being able to get connectivity to external services? That is absolutely nuts. That is something that we definitely have made a lot of improvement on by offering this service. Do we really want to hear about from Rithmic users, that they get a "permission denied" message and be wasting our lives answering questions about that. Or similar problems with gain capital connectivity. It is simply dumb and we are not going to do that. Like we have said earlier this thread, we analyze things and try to make things better.
So this is why a common standardized logon is necessary.
We also provide many points of connectivity and can also provide a standardized web-based trading and that is our own.
But otherwise, it is really just a pass-through system. If you had been using TT FIX directly, all the problems users had in particular with TT through AMP, would still exist and actually if anything things would be even more confusing.
So just because it has the name "Sierra Chart order routing service" does not change the fact, that TT is being used in the background and accounts are set up and managed through the TT environment.
Now we have plan to evolve the service with our own direct order routing and in that case, the situation would be very different. In that particular case, position tracking, account balance tracking, and risk would actually be something we would be providing. At this time that is not even happening at all.
So all that is going on, is really something, we really cannot be responding much to, or even fully understanding what the details are.
When users start reporting a problem, that is when we become aware of them, and it takes time for us to even fully understand what is going on. And we really may not fully understand what is going on. The problems with risk management is something that is completely outside of our control. None of that is anything that we see.
Now you may be thinking there is really a serious problem the Sierra Chart order routing at this time. That is not really the case. We have a Dorman account, and everything is fine and stable at this time and has been for days because the problem that TT has had, has not fully affected all firms. There are different problems at different times, affecting some or all firms. From our perspective all of this is rather confusing as well.
But we know the situation is not good, and we are taking appropriate steps. That is why we are adding support for CQG in the same way we have for TT through this service and putting that out as a parallel offering.
Sierra Chart Support - Engineering Level
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Date Time Of Last Edit: 2021-02-18 21:06:09