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Announcement: New Connection Model for FXCM and LMAX

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[2015-11-28 04:13:03] #1 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
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 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: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation 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: 2015-11-28 04:22:48

[2015-11-28 04:29:32] #2 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
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. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation 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: 2015-11-28 04:36:08

[2015-11-29 14:02:08] #3 [Go To First Post]
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] #4 [Go To First Post]
TechTrader - Posts: 116
+1

[2015-11-30 23:35:53] #5 [Go To First Post]
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] #6 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
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 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: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, change to the Teton service: Sierra Chart Teton Futures Order Routing

[2015-12-01 07:47:54] #7 [Go To First Post]
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] #8 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
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. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, change to the Teton service: Sierra Chart Teton Futures Order Routing

[2015-12-15 13:54:58] #9 [Go To First Post]
User25311 - Posts: 30
I'm so happy to reading this! Please, make a post here when you implement this.

[2015-12-15 18:23:13] #10 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
Yes we will. 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: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, change to the Teton service: Sierra Chart Teton Futures Order Routing

[2015-12-21 15:42:02] #11 [Go To First Post]
User380760 - Posts: 88
Will this happen by the end of January?

[2015-12-21 16:59:29] #12 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
Possibly, but most likely it will be February now. 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: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, change to the Teton service: Sierra Chart Teton Futures Order Routing

[2015-12-21 20:14:02] #13 [Go To First Post]
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] #14 [Go To First Post]
batman_ - Posts: 190
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] #15 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
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. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, change to the Teton service: Sierra Chart Teton Futures Order Routing

[2015-12-27 14:36:46] #16 [Go To First Post]
Halco - Posts: 92
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] #17 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
Yes and Yes to the questions in post #16. 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: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, change to the Teton service: Sierra Chart Teton Futures Order Routing

[2016-01-19 11:36:57] #18 [Go To First Post]
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] #19 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
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. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, change to the Teton service: Sierra Chart Teton Futures Order Routing

[2016-01-24 16:55:05] #20 [Go To First Post]
DEA1 - Posts: 47
I'd be happy to do some testing for the LMAX connection too. David

[2016-01-26 20:35:24] #21 [Go To First Post]
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] #22 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
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. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, change to the Teton service: Sierra Chart Teton Futures Order Routing

[2016-02-04 13:28:28] #23 [Go To First Post]
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] #24 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
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. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, change to the Teton service: Sierra Chart Teton Futures Order Routing

[2016-02-11 01:15:22] #25 [Go To First Post]
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?

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