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Date/Time: Fri, 15 Dec 2017 17:39:38 +0000



Announcement: New Connection Model for FXCM and LMAX

Support Request:
[2015-11-28 04:13:03]
Sierra Chart Engineering - Posts: 55111
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
[2015-11-28 04:29:32]
Sierra Chart Engineering - Posts: 55111
Another thing we want to be clear about with this connection model, is there are no price markups, and no financial benefit to us at all.

In other words, we will receive no commissions at all. As we said we are only providing an order routing gateway for Sierra Chart users to these services.

The price of Sierra Chart remains the same and all Forex quotations remain the same as provided by FXCM and LMAX.

Also the intended release date will be sometime in January, but it could be pushed back to February.

The intention of this change, is to make it much easier for users to use LMAX and FXCM, without having a minimum account balance or minimum or high monthly fees and at the same time use a reliable and trusted FIX connection.

And as we also said, there is also the advantage of server-side OCO and bracket orders. Although with these types of orders, they are not completely without risk but those risks will be disclosed ahead of time. The expectation is the practical risk will be very low with them.
Sierra Chart Support - Engineering Level

Your definitive source for support. Other responses are from users. If possible please keep your questions brief and to the point. Please be aware of support policy:
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Date Time Of Last Edit: 2015-11-28 04:36:08
[2015-11-29 14:02:08]
sierra28 - Posts: 120
User of lmax & sierra i'm very happy with this new connectivity and congratule you for this.
[2015-11-30 10:09:26]
TechTrader - Posts: 82
+1
[2015-11-30 23:35:53]
User368248 - Posts: 46
Hello.
If each account its individual/personal by each trader, this mean I have the spread negotiated by me and FXCM, I have my own credentials, how can you make this: " without having a minimum account balance or minimum or high monthly fees "
Each broker request a minimum for each situation, how can we then get such advantage? ( "without having a minimum account balance or minimum or high monthly fees " )

Thanks!
[2015-12-01 01:56:58]
Sierra Chart Engineering - Posts: 55111
If you want to use your own direct FIX connection you can continue to do that. This is no problem.

The new connection model, most likely will use one set spread set by FXCM. We assume that it will be better than what an individual user can get.
Sierra Chart Support - Engineering Level

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If your question/request has been answered and you do not have anything further, then it is easiest for us if you do not reply again to say thank you.
[2015-12-01 07:47:54]
sierra28 - Posts: 120
"We assume that it will be better than what an individual user can get." for Lmax also ?
[2015-12-01 08:21:38]
Sierra Chart Engineering - Posts: 55111
We do not think it will be any different with LMAX. All prices will be the same since they are an exchange.
Sierra Chart Support - Engineering Level

Your definitive source for support. Other responses are from users. If possible please keep your questions brief and to the point. Please be aware of support policy:
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If your question/request has been answered and you do not have anything further, then it is easiest for us if you do not reply again to say thank you.
[2015-12-15 13:54:58]
User25311 - Posts: 22
I'm so happy to reading this! Please, make a post here when you implement this.
[2015-12-15 18:23:13]
Sierra Chart Engineering - Posts: 55111
Yes we will.
Sierra Chart Support - Engineering Level

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[2015-12-21 15:42:02]
User380760 - Posts: 88
Will this happen by the end of January?
[2015-12-21 16:59:29]
Sierra Chart Engineering - Posts: 55111
Possibly, but most likely it will be February now.
Sierra Chart Support - Engineering Level

Your definitive source for support. Other responses are from users. If possible please keep your questions brief and to the point. Please be aware of support policy:
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If your question/request has been answered and you do not have anything further, then it is easiest for us if you do not reply again to say thank you.
[2015-12-21 20:14:02]
heavyhucks - Posts: 18
Very very pleased to hear about this, there are more than a few users that have held off using LMAX /Sierra because of the high monthly fees.
[2015-12-22 14:25:09]
batman - Posts: 171
Does SC know who is offering dedicated server or vps for users to be placed co-located with SC server in related to FXCM and LMAX connectivity?

For user to be placed colocation with SC server will enable users to submit orders to achieve ultra low latency especially via LMAX fibre optic cable.

TQ
[2015-12-22 21:44:13]
Sierra Chart Engineering - Posts: 55111
For LMAX, you can use them:
http://www.ultrafxvps.com/

However, please wait until we have this all set up on our side.

We have not yet decided on FXCM as to where the server will be.
Sierra Chart Support - Engineering Level

Your definitive source for support. Other responses are from users. If possible please keep your questions brief and to the point. Please be aware of support policy:
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If your question/request has been answered and you do not have anything further, then it is easiest for us if you do not reply again to say thank you.
[2015-12-27 14:36:46]
Halco - Posts: 56
I contacted FXCM several weeks ago and was told that they required a minimum account balance of 10K in order to use SC for placing trades. Are you saying in this thread that once this new system is implemented FXCM will no longer require that minimum balance?

Also, will the FXCM data feed still be included with the monthly fee for SC? Thanks.
Date Time Of Last Edit: 2015-12-27 14:52:42
[2015-12-27 19:09:33]
Sierra Chart Engineering - Posts: 55111
Yes and Yes to the questions in post #16.
Sierra Chart Support - Engineering Level

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[2016-01-19 11:36:57]
heavyhucks - Posts: 18
I understand you said that you will likely implement the new Sierra Chart server connection to LMAX sometime in Jan/Feb; however I am curious as to how you are getting on, and if need need a guinea pig!

Regards,
James
[2016-01-19 17:48:04]
Sierra Chart Engineering - Posts: 55111
We are making progress slowly. We always get busy with other things which take priority, so we do not expect this is going to be ready until February.

We will need someone to do some testing so we will let you know when that is ready.
Sierra Chart Support - Engineering Level

Your definitive source for support. Other responses are from users. If possible please keep your questions brief and to the point. Please be aware of support policy:
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[2016-01-24 16:55:05]
DEA1 - Posts: 47
I'd be happy to do some testing for the LMAX connection too.
David
[2016-01-26 20:35:24]
User29651 - Posts: 1
So Glad to hear this! I was dreading having to Use Ninjatrader with FXCM as I Love Love to use Sierra Charts.

Not that it matters but I spoke with FXCM and they are saying you need a 25K Minimum balance with Sierra Charts! Can't wait till February; Thank you SC!!
[2016-01-27 04:34:07]
Sierra Chart Engineering - Posts: 55111
Thank you for the feedback.

We are working on completing the implementation of this.
Sierra Chart Support - Engineering Level

Your definitive source for support. Other responses are from users. If possible please keep your questions brief and to the point. Please be aware of support policy:
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If your question/request has been answered and you do not have anything further, then it is easiest for us if you do not reply again to say thank you.
[2016-02-04 13:28:28]
User57819 - Posts: 4
Hi,

Will do the same for Dukascopy? The SC gain hundreds if not thousands of new users, because most Dukascopy customers do not like the JForex but in reality the broker is very very good.
[2016-02-04 18:16:05]
Sierra Chart Engineering - Posts: 55111
We have no plans to do anything with Dukascopy.

And there is no chance we are going to gain thousands of users.
Sierra Chart Support - Engineering Level

Your definitive source for support. Other responses are from users. If possible please keep your questions brief and to the point. Please be aware of support policy:
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[2016-02-11 01:15:22]
AndyL - Posts: 119
I have an existing Lmax account (not FIX authorized). Will this work with my exisiting account or do i have to sign up a new one?
[2016-02-11 02:08:24]
Sierra Chart Engineering - Posts: 55111
You will be able to use your existing account and you just need to give LMAX authorization.

More details will come out in March about this.
Sierra Chart Support - Engineering Level

Your definitive source for support. Other responses are from users. If possible please keep your questions brief and to the point. Please be aware of support policy:
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If your question/request has been answered and you do not have anything further, then it is easiest for us if you do not reply again to say thank you.
[2016-02-11 16:12:00]
DEA1 - Posts: 47
Is this near completion, guys? Thank you.
[2016-02-11 17:51:24]
Sierra Chart Engineering - Posts: 55111
No, we really almost have not even started. This is very unfortunate. Our support load and development load is very heavy. We hope to get started in about a week.

But once we get started on this, it will not take long. Most everything that needs to be done will only take about a week.
Sierra Chart Support - Engineering Level

Your definitive source for support. Other responses are from users. If possible please keep your questions brief and to the point. Please be aware of support policy:
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If your question/request has been answered and you do not have anything further, then it is easiest for us if you do not reply again to say thank you.
[2016-02-11 18:22:11]
DEA1 - Posts: 47
Looking forward to it, thanks.
[2016-02-14 01:54:29]
Sierra Chart Engineering - Posts: 55111
We are now going to be a implementing the final details to support the new connection model for LMAX.

We will need 3 users will want to test this using a LMAX simulation account we will assign to your Sierra Chart account.

Contact us here if you would like to be part of this:
https://www.sierrachart.com/usercp.php?page=SupportTickets


You do not need an active Sierra Chart account. We will activate your account if necessary.

We expect the testing will be ready probably in the first week or two of March. And once we are confident everything is working properly and any issues are resolved, we will then schedule an actual release.
Sierra Chart Support - Engineering Level

Your definitive source for support. Other responses are from users. If possible please keep your questions brief and to the point. Please be aware of support policy:
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If your question/request has been answered and you do not have anything further, then it is easiest for us if you do not reply again to say thank you.
Date Time Of Last Edit: 2016-02-14 01:56:30
[2016-02-14 18:27:59]
Sierra Chart Engineering - Posts: 55111
We already have requests for more than 3 users now. So at this time we do not need any other requests for those who want to test the new LMAX connection.
Sierra Chart Support - Engineering Level

Your definitive source for support. Other responses are from users. If possible please keep your questions brief and to the point. Please be aware of support policy:
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If your question/request has been answered and you do not have anything further, then it is easiest for us if you do not reply again to say thank you.
Date Time Of Last Edit: 2016-02-14 18:28:46
[2016-03-03 05:43:38]
Sierra Chart Engineering - Posts: 55111
Letting you know we plan to be releasing testing of the new connection model for LMAX next week.


We will be contacting each individual user who has offered to do testing with instructions.
Sierra Chart Support - Engineering Level

Your definitive source for support. Other responses are from users. If possible please keep your questions brief and to the point. Please be aware of support policy:
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[2016-03-08 10:41:24]
Sierra Chart Engineering - Posts: 55111
Will be ready to start testing at the end of the day today:
https://www.sierrachart.com/SupportBoard.php?ThreadID=19599#P83743
Sierra Chart Support - Engineering Level

Your definitive source for support. Other responses are from users. If possible please keep your questions brief and to the point. Please be aware of support policy:
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Date Time Of Last Edit: 2016-03-08 10:41:44
[2016-03-14 14:56:14]
User93318 - Posts: 6
Any update on providing new connectivity for FXCM?
[2016-03-14 16:37:19]
Sierra Chart Engineering - Posts: 55111
We intend to start work on this, this week. We expect to get this ready by the end of the week.

We will put your name down as someone who can participate in the testing.
Sierra Chart Support - Engineering Level

Your definitive source for support. Other responses are from users. If possible please keep your questions brief and to the point. Please be aware of support policy:
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If your question/request has been answered and you do not have anything further, then it is easiest for us if you do not reply again to say thank you.
[2016-03-14 18:32:58]
sierra28 - Posts: 120
Do you know if Lmax will stop charge 150$ when using sierra if minimum volume traded is not enough with this new connection model ?
[2016-03-14 18:47:06]
Sierra Chart Engineering - Posts: 55111
Yes they will not charge this when using this new connection method.
Sierra Chart Support - Engineering Level

Your definitive source for support. Other responses are from users. If possible please keep your questions brief and to the point. Please be aware of support policy:
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[2016-03-15 06:49:40]
Sierra Chart Engineering - Posts: 55111
We will complete the conformance test with LMAX this week and get live trading support out next week.

We also need to finish up with the symbol settings and we will do that tomorrow. We need to add the new symbols and also correct the Currency Value per Tick for some of the symbols.
Sierra Chart Support - Engineering Level

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Date Time Of Last Edit: 2016-03-15 06:50:01
[2016-03-15 09:03:21]
sierra28 - Posts: 120
Super!
i hope that Lmax will reduce some spread particularly mini dow which is not competitive compared to futurs contracts and others cfd brokers...(it is ok for Dax and Euro$ for exemple)
After, Lmax and Sierra will be the best cfd solution and a interesting alterative to futurs trading (for me...).
[2016-03-15 09:18:34]
Sierra Chart Engineering - Posts: 55111
Yes, it is definitely going to be a very good Forex and CFD solution.
Sierra Chart Support - Engineering Level

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[2016-03-25 04:25:14]
Sierra Chart Engineering - Posts: 55111
Regarding post #34, User93318: We are now releasing testing for FXCM demo accounts using the new connection model. We have assigned your Sierra Chart account an FXCM demo account. Refer to this thread for further information:

https://www.sierrachart.com/SupportBoard.php?ThreadID=19851

We will be updating the thread with more details.
Sierra Chart Support - Engineering Level

Your definitive source for support. Other responses are from users. If possible please keep your questions brief and to the point. Please be aware of support policy:
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[2016-04-27 15:26:26]
ForexDirtnap - Posts: 7
Hi,

Any updates on the FXCM connection? I know some testing was being complete last month but it looked minimal. Can we have an ETA on this so I can fund my account with FXCM? I do not want to trade at FXCM without Sierra Charts.
[2016-04-27 16:37:37]
Sierra Chart Engineering - Posts: 55111
The delay is on the part of FXCM. We are waiting for them to provide us an agreement that they said would be provided several weeks ago. We contacted them yesterday about this.
Sierra Chart Support - Engineering Level

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[2016-04-27 18:17:35]
ForexDirtnap - Posts: 7
I spoke with FXCM and told them my only reason for holding back on funding my account was the finalization of this agreement and that Sierra Charts is waiting on the agreement to move forward.
[2016-04-27 18:18:22]
Sierra Chart Engineering - Posts: 55111
OK thank you for this.
Sierra Chart Support - Engineering Level

Your definitive source for support. Other responses are from users. If possible please keep your questions brief and to the point. Please be aware of support policy:
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[2016-06-06 16:52:11]
ForexDirtnap - Posts: 7
It has been over a month. Any updates on the FXCM?
[2016-06-06 16:55:31]
Sierra Chart Engineering - Posts: 55111
FXCM said they are still working on legal matters related to this. These legal matters are not specific to Sierra Chart but generally to service providers.
Sierra Chart Support - Engineering Level

Your definitive source for support. Other responses are from users. If possible please keep your questions brief and to the point. Please be aware of support policy:
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Date Time Of Last Edit: 2016-07-07 17:47:14
[2016-07-07 17:45:27]
Nick_A - Posts: 1
HI there,

I am looking at opening a new account with LMAX which means its time to look at platforms again too. I have a couple of questions if I may.

1) Is the Sierra gateway server co-located with LMAX Exchange in London (I think its Equinix LD4/5 campus)?
2) I presume I don't have to pay the monthly FIX connection charge if connecting via the Sierra gateway?
4) I wonder if there is a charge for full market depth, I think a direct FIX connection would normally incur a further market depth charge?
5) Is the volume provide by LMAX/Sierra traded volume or tick volume?

Thanks.
[2016-07-07 17:49:43]
Sierra Chart Engineering - Posts: 55111
1. Yes. In that data center. Equinix LD4
2. No.
4. No. You will get the full market depth.
5. Tick volume.
Sierra Chart Support - Engineering Level

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[2016-07-08 15:25:59]
ElmStreetTrader - Posts: 34
FXCM said they are still working on legal matters related to this. These legal matters are not specific to Sierra Chart but generally to service providers.

Any updates concerning this?
[2016-07-08 17:12:01]
Sierra Chart Engineering - Posts: 55111
No updates.
Sierra Chart Support - Engineering Level

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