Date/Time: Mon, 22 Jan 2018 12:34:22 +0000
Post From: The Story of IG Markets and Sierra Chart. Classic Breach of Contract
Sierra Chart Engineering - Posts: 56350
We want to comment on and clarify one thing IG said:
At no point has anyone confirmed to Sierra Chart that IG will integrate or conform with Sierra Chart for a full integration.
Regarding the underlined text, there was no promise from IG Markets to do any integration to Sierra Chart. Yes that is true but that is not the reason for the breach of contract. Integration to Sierra Chart using the DTC Protocol was never discussed. There was no expectation of that from our side. The problem is they are not providing the market data feed to Sierra Chart or the FIX order connections to our users who want to use IG Markets with Sierra Chart.
And there was no expectation for them to provide futures data. Only Forex and CFD data. This was also something that was discussed and understood ahead of time.
It was understood that IG Markets can and will provide the market data feed to us and the FIX order connections to their customers who want to use Sierra Chart. They said they can do this. And is expected they will at the appropriate time. This is something that was and is clearly understood.
Think about this, broker/trading services like CTS, AMP, LMAX, CQG and FXCM and Currenex brokers, routinely provide FIX connections to our users. And yet IG cannot.
And we want to reiterate, what IG has done we regard as a very serious matter which cannot be explained as anything but outright breach of contract. It does have a legal remedy. We of course course would like to settle this matter outside of formal proceedings.
Also IG said the following: "for a full integration". So you can see that Daniel with IG Markets is saying that they did make promises but they did not promise " a full integration". What exactly does that mean? At the very least we can conclude that they agree that promises were made, but yet there was zero performance from their side. We think this was in regard to not providing futures data which was already understood and agreed to from the very beginning.
Sierra Chart Support - Engineering Level
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Date Time Of Last Edit: 2015-10-26 00:11:47