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Date/Time: Sat, 04 May 2024 23:36:52 +0000

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Post From: What to do about this Trade Orders message?

[2022-06-22 06:39:40] Link To Thread - Link To Post [Go To First Post]
User65931 - Posts: 13
I have some critical questions under the copied information from the link John provided: Rejected Order (Last Trading Date Not Known) The first trader that trades a particular symbol, will get a Info: Trade Order Error - LastTradingDateForSymbol is not known. Need to resubmit order. rejection. After this, the security definition data is fetched, and the last trading date is then known, and then you can submit the order. In this case resubmit the order. The reason is to maintain system efficiency and not have to request and hold data for so many different symbols. This helps to maintain ultra low latency order routing. The last trading must be known before the order can be submitted in order to support rejecting orders that are submitted after the last trading date. *MY QUESTIONS* 1) Why should the first trader that trades a particular symbol on Teton be penalized (ie cannot make a trade) to "maintain ultra low latency order routing"? Not everyone is able to re-submit an order, due to reasons such as fast moving markets. I would be surprised if the brokers you (SC) were working with in the development of Teton did not mention this to you. 2) This happened only 4 hours before the opening bell for a very popular futures instrument. That is not too early. Does this mean I have to wait for another trader that trades this instrument using Teton before I can be certain my trade will not be rejected? How can I know that I am at least the "second" person? 3) Did you take into consideration the traders that have limited windows of opportunity to put on a trade. They need a trade to go through as soon as they hit the button. 4) Do other systems such as Rithmic have this limitation? If not, why does Teton? I suspect this is one big reason why AMP is not onboard with Teton. 5) Why is there no on-screen message that the order due to this limitation has been rejected? 6) Can I make a Sim trade beforehand so that "the last trading date is known"? There must be a solution to this problem: *The last trading must be known before the order can be submitted in order to support rejecting orders that are submitted after the last trading date.* <-- is there a better way to achieve this without rejection of the first trade of the first trader. I like the stability of Teton. What do the brokers that have been recommending Teton on this board think?