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Date/Time: Tue, 17 Jul 2018 08:00:09 +0000



Post From: Announcement: New Connection Model for FXCM and LMAX

[2015-11-28 04:13:03]
Sierra Chart Engineering - Posts: 61831
The connection model for FXCM and LMAX will be changing sometime in January.

Currently Sierra Chart supports a FIX connection for FXCM and LMAX which are Forex trading services.

Currently Sierra Chart for each individual user connects direct to these services using a FIX connection for trading. Market data to Sierra Chart users goes through a Sierra Chart server and we have one or more FIX connections for market data to these services.

What we are going to do is we will be using a single FIX connection for trading and trading will route through a Sierra Chart server.

So individually Sierra Chart users using FXCM or LMAX for trading, will have a connection to a Sierra Chart server and then that interfaces with FXCM and LMAX using a FIX connection to those services.

This is something that you can optionally use but we would recommend it because there will no longer be any account minimum balance and/or monthly fees when using either of these forex trading services, like there is currently. Also getting connected to FXCM or LMAX will be very simple. There will no longer be any need for a separate FIX connection to be set up per user.

There is also a significant advantage when using LMAX because the tracking of orders and historical order fills is going to be more reliable using the above described connection model since a Sierra Chart server will be maintaining an always on connection to LMAX.

There is also the advantage that there will be server-side OCO and bracket orders supported as well. Although not immediately. We will need to do some additional testing before releasing that.

The Sierra Chart server and software which will be handling trading for these services, does not maintain any account balances and does not use an omnibus account.

The server will be functioning nothing more than a reliable gateway to connect individual users to a single FIX connection. Certainly all trading related information for each user does use a separate account number(s) and that is how the segregation works. The point we are making is there is not an omnibus account involved. Only a gateway.

We do not believe there is any kind of additional risk with this kind of connection model as compared to individual users connecting directly to the trading server.

The additional latency for order routing for FXCM at worst would be maybe 25 ms. As a practical matter it will be under 5 ms.

However, in the case of LMAX, the kind of connectivity we will be using is ultralow latency at .12 of a single millisecond with a fiber-optic connection.

We also foresee a connection model like the above being used for Currenex users. We are a very interested in hearing from brokers who use Currenex to contact us about what we are able to offer you.
Sierra Chart Support - Engineering Level

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Date Time Of Last Edit: 2015-11-28 04:22:48