Date/Time: Tue, 30 May 2023 11:06:22 +0000
Post From: New Teton Order Routing Service for CME, CBOT, NYMEX, COMEX, FairX, upcoming EUREX
Sierra Chart Engineering - Posts: 104368
We think the best way to answer this is to think about the problems that have occurred with TT, CQG and Rithmic:
please ask Sierra for their back up
plan.....if something does happen.
TT has had numerous, connectivity issues to the CME. That will not happen with Sierra Chart because we have full redundancy both with CME connectivity, and Internet connectivity and power. The connectivity to the CME is direct and simplified. Unlike with TT and others, there is only a single reliable process between the user connection and the CME connection. No other intermediate processes or connections.
In the case of a hardware failure we can failover to another server. Although that has to be done manually. As we said in 15 years of operation we have never had a catastrophic server failure which would require this.
From memory CQG had a problem, where OCO orders and other type of managed orders were not being managed or something like that. That kind of issue would not happen with Sierra Chart order routing.
Theoretically there could be an interruption with this due to connectivity issues, but we have full redundancy that is automatic.
In the case of a hardware failure there would be an interruption but this would be a very rare event that has never occurred with us. And we have the ability to failover to another server and continue on with order processing including server-side OCO and bracket order processing without further interruption.
CQG had a problem where their margin calculations were not correct. Theoretically something like this could happen due to a software bug, but all of this is well designed and tested. It should never occur. Hypothetically if it could occur, it would be caught before any software release for live order routing.
The same software is used for our Simulated Futures Trading service that is used for our direct exchange live order routing. So all the functionality is tested there first:
Simulated Futures Trading Service
And we have the ability to easily roll back to the prior software version. That can be done in less than one minute.
TT had a problem where they reconnected to the CME FIX server and they started off in a sequence number of apparently 1 and reprocessed fills and caused positions for the accounts two be set inaccurately during that processing and then that triggered auto liquidation of nonexistent positions.
An issue like this just will not occur with Sierra Chart order routing due to numerous safeguards (high integrity with maintaining sequence numbers across connected sessions, cache of recently processed order fill identifiers, the fact that the position quantity will not update from an order fill more than 30 minutes old, other things)
In general because everything is very well designed, and the overall architecture is simple and straightforward, a lot of the issues, if not all of the issues, which exist with other services are just not going to happen with Sierra Chart direct order routing. So this is a huge advantage with our order routing which is going to be proven over time. And actually it has already been proven to us very clearly all of these years. It is simple and straightforward and reliable.
The only area of concern that we have is in the case of a hardware failure, or a full connectivity failure to our server for the direct order routing. However, these incidents have never occurred in the past. But if they do occur, we have to examine what the issue is and take the appropriate action. There is no automatic failover for this kind of scenario because it is impossible to reliably handle in an automated way. It requires a human to examine what is going on and take the appropriate steps. So we certainly are capable of handling the situation. It is just that it is not automatic and immediate. So this is the one item, we have to monitor for. But the likelihood of it occurring, is next to nonexistent.
And we do have a 24 hour support available. And so far we have only had one call. Just a very simple question about a daily profit/loss. We provided an explanation for that and that is all. Once we train the brokers and the clearing firm risk managers on the functionality, we find that they they have little follow-up questions. Most questions come in by email.
CQG has also had numerous connectivity problems for years. Sometimes affecting all users, and ongoing affecting a smaller number of users.
Unless there is an Internet connectivity issue affecting a particular user, there will not be connectivity problems to the Teton order routing service because we have three Internet connections (Zayo, Verizon, Cogent). And the process of logging in is very reliable and is implemented in a fully fault resistant way.
If there is any issue with the login database, affecting some users, we can go back to a prior state of it very easily. We have never had a need to do this, for our TT order routing or other order routing (FXCM, LMAX).
We have considered so many potential problems and implemented safeguards and backup procedures.
The simple fact is AMP is just not aware of the high degree of reliability and safety that this Teton order routing service has. They can continue to pay large sums of money or take advantage of what we have and simplify their operation, and provide a high degree of reliability to their users. When they are ready of course.
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:
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: 2021-12-29 13:03:30