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Direct MessagesDate/Time: Wed, 01 May 2024 17:05:42 +0000
Post From: From TT: We are currently investigating order routing issues for CME
| [2021-03-05 05:11:16] |
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Have you received the full credit from AMP? I loss $2700 but they only credited me 10 per cent! We recommend explaining how you determined this amount, and if this was the amount specifically as a result of the incident, and sending that to AMP.If TT can refuse compensation due to their fault, then what will happen when Sierra Charts completes their Direct CME Routing Service. Let's say something technical similar to what happened with TT. Will traders be compensated?
In regards to this, the order routing will be designed in such a way, that faults/issues will be nonexistent or near zero. The order routing will not have any automatic order submission. So there will not be any support for automatic liquidation under any condition. This is just something that would not be offered. Instead alerts that the clearing firm can respond to will be provided. If there is something that goes wrong, due to a programming error on our part and results in a loss, we would review that case, and any compensation, would be proportionate, to the income received over a reasonable amount of time from the service from the trader or group of traders depending upon the circumstances. So in other words the compensation for a loss could not be exceeding, what has been paid for the service. The greatest risk is automatic liquidation and failures with that. This is why that feature would not be offered. Otherwise, other significant failures could be: Inability to submit an order which would be a very low probability and in that case, orders could always be submitted and managed through CME firm soft. So in a situation like that, the risk can be mitigated. Lack of controls over order quantity causing a trader to put on a position greater than allowed by margin or position limits. The potential for this really should be nonexistent. Especially being multiple checks would be provided. Margin check, product check, product limit, overall position limit. Position misreporting. We would expect this to be a rare or nonexistent issue. And there is already a mechanism to insert correcting order fills in a situation like this. The most likely circumstance would be a problem of a missed fill. Or a problem with processing a trade correction or trade cancellation for a multi-legged security. This is a very rare scenario though. Position misreporting should not result in a loss because if you see a position which is not accurate based upon your own calculations and what you know the position should be, then you just need to check with your broker or another source to confirm that the position is what you think it should be. Sierra Chart also provides two different methods of position calculations. It can use what is externally provided, or the Order Fill Calculated Position: Trading Information Windows: Using Order Fill Calculated Positions In Special Cases Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service: Sierra Chart Teton Futures Order Routing Date Time Of Last Edit: 2021-03-05 13:25:33
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