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Date/Time: Sun, 21 Jan 2018 20:44:36 +0000



[Locked] [Sticky] - About Real-time Futures Data

Support Request:
[2016-08-31 06:11:21]
Sierra Chart Engineering - Posts: 56335
One of the most common questions we get is about real-time futures data and generally this is not such an easily answered question because there are so many variables involved.

We have prepared this page which answers all of the questions:
https://www.sierrachart.com/index.php?page=doc/FuturesData.php

First refer to this page before contacting Sierra Chart Support about this subject.
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:
https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation

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.
[2016-10-10 03:34:50]
Sierra Chart Engineering - Posts: 56335
We waste far too much time answering questions about Chicago Mercantile Exchange exchange fees and futures data and exchange fees in general.

Even though we explain everything clearly, questions are still being asked. If you have a question, read the information here:

https://www.sierrachart.com/index.php?page=doc/FuturesData.php

We do not set the fee policies and the exchanges have irrational and unfair policies and these questions unnecessarily take our time and the questions are not welcome. An occasional brief question is fine, but when someone keeps asking us again and again and again regarding exchange fees and disregards the answer we give them, this is simply the problem.
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:
https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation

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: 2016-10-19 16:56:52
[2016-10-16 02:32:18]
Sierra Chart Engineering - Posts: 56335
One thing that we have previously said is that the policies of exchanges are detrimental to everyone perhaps except to their profits. But we contend that it actually may be detrimental to their profits.

Ridiculous exchange fee policies which currently exist definitely do have the effect of reducing trading activity and more importantly they do have the effect of reducing the accessibility and reliability of exchange market data for those who require it. This is why there are so many market data problems which actually exist.

Market data from exchanges is not proprietary information. It is not their intellectual property. It is the participants(traders), which set the prices. And the underlying prices are completely set outside of the exchange. So for them to actually be charging for the market data to begin with makes no sense. Keep in mind we are not talking about the cost of data delivery but simply merely a charge on what they claim is their intellectual property.

There is not a problem if they were to have a very small fee ranging anywhere from 1 USD to 10 USD. But it is a problem when it exceeds this. And it is not a problem, for them to charge connectivity fees for those market data services who maintain physical connectivity to the exchange.

The whole concept that they have proprietary information and it needs to be protected is complete nonsense.

They have a business to run and that is not a problem, but they need to do it in a way which does not create so many problems for the users of the data and for those who are providing the data. This is what is wrong with what they are doing.

There are so many things we can do if all of these ridiculous policies and fees are done away with. For example, we can calculate market statistics for the EUREX. We cannot do that because of the very high fees for the exchange data.

It has even been contemplated, of creating a competitive exchange which trades stock index futures and gold and silver. Although the basic fundamental problem with this, is building up the liquidity and therefore attracting traders. Although it is a longer-term concept that is being kept in mind and perhaps if there is enough support among the clearing firms we work with we could make it a reality. It would not be an effort of any one entity, but many entities coming together to make it a reality.
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:
https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation

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: 2016-10-16 02:40:26
[2016-11-08 16:57:59]
Sierra Chart Engineering - Posts: 56335
Reposting this idea:

It has even been contemplated, of creating a competitive exchange which trades stock index futures and gold and silver. Although the basic fundamental problem with this, is building up the liquidity and therefore attracting traders. Although it is a longer-term concept that is being kept in mind and perhaps if there is enough support among the clearing firms we work with we could make it a reality. It would not be an effort of any one entity, but many entities coming together to make it a reality.

We hope one day that we can gain support among brokers and clearing firms to make this a reality. Our outlook for this is over the next 5-10 years. At this point, we are just tossing out the idea as a general concept.

The idea is to create an efficiently run exchange with integrity.

While this may seem like an unbelievable idea, we believe in it.
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: 2016-11-08 16:58:27
[2016-11-14 07:08:04]
Sierra Chart Engineering - Posts: 56335
In regards to the futures exchange idea, we have given this some more thought. We think there is real potential for this. We will have more to say about it in the spring. And our outlook is about 1 to 2 years.
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:
https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation

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.
[2017-01-19 05:32:06]
Sierra Chart Engineering - Posts: 56335
Someone was just asking why they had to connect to their TD Ameritrade account to receive CME data at the reduced exchange fees when using the Sierra Chart Exchange Data Feed.

This was our response:

When using TD Ameritrade, the futures data will come from the Sierra Chart Exchange Data Feed.

Refer to:
https://www.sierrachart.com/index.php?page=doc/SierraChartRealTimeFuturesStockDataFeed.php#IntegrationWithTradingServices

Please read that section thoroughly because it explains why you need to connect to TD Ameritrade to satisfy the *CME greedy absurd and ludicrous exchange policies*:

https://www.sierrachart.com/index.php?page=doc/SierraChartRealTimeFuturesStockDataFeed.php#UnderstandingAccessingDataFromCME

If you have further questions please use the Support Board:
https://www.sierrachart.com/SupportBoard.php

And once again please read the documentation because it does explain this. We spend far too much time explaining things which are already written in the documentation and this is just a huge waste of our time when these things come up again and again and again and again and again and again. We are tired of answering these questions around CME data.

And no, we make no apologies about our response above and we are proud to have it be as public as possible and be reposted as widely as possible. For the purpose of showing just how wrongful the policies of the exchanges are. Not about being critical of the user. No not at all. But the menace of the exchange policies and the problems that they cause.

This is one reason, and also a documented reason why we do not provide open telephone support. Can you imagine the level of insanity someone would have to put up with with with tolerating all this garbage. Not the garbage from the users, but the garbage/insanity from the exchange policies. Also, users do have a responsibility to read the documentation.

We are not singling this user out, we are only just using it as an example. We are not in any way being critical of this user. Just of the situation which is created by the exchange policies. This is our only point by making this public.

Reposting of the above is most welcome on your favorite trading forum.
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:
https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation

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: 2017-01-20 05:51:30
[2017-01-19 05:55:09]
Sierra Chart Engineering - Posts: 56335
We had another case of a potential user from China, who probably sent in a total of 30 messages by email and on this Support Board wanting Real-time CME futures data cheaply.

If they would just simply pay attention to what we told them in the beginning, they should not have any follow-up questions even though English was not their native language. By the second or third time they should have clearly understood what we were saying. But they just did not want to believe it.

We answered all of their emails and support board postings. And it was a huge waste of our time. In the end, they could not get the data at the reduced exchange fees because they were not using a supported futures trading service and our time was a monumental waste of time because they did not become a user.

We do not like to ignore users,so we do politely answer them. But you can just see the total ludicrous insanity of this. Yes we are publicly slamming the CME over this.

Another stupid policy of exchanges is making a difference between a professional and nonprofessional. What difference does that possibly make? Why should a so-called professional have to pay more.

If they really are professional you would think that they are doing more trading volume and the exchange would earn more money that way on trading fees.

Furthermore, how the exchange defines someone as a professional and nonprofessional does not mean a fair application of the higher exchange fees. We see that all the time.

Or how about in Brazil, charging higher exchange fees for a non-Brazilian resident. You would think with their economic problems, they would want openness. Just another absurdity in this world.
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:
https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation

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: 2017-01-19 05:59:00
[2017-01-19 06:03:38]
Sierra Chart Engineering - Posts: 56335
Or how about the proprietary trading firm we did custom data feed integration for in the UK and then they later end up dumping us at a loss to us.

So we waste all of this time for integration in order for them to save money on exchange fees, and we understand why they want to save money on exchange fees to avoid the absurd exchange policies.

So once again, you can see the level of insanity over exchange policies and how we are being hurt by them and how users are being hurt by them.

We've had enough of this disgusting garbage.

Reposting of the above is very welcome on your favorite trading forum.

So when people tell us we have attitude, especially over this particular subject matter, Great. We are most proud of it when it comes to pointing out the wrongful policies of the exchanges. Repost this on your favorite trading forum.

Our time is best spent developing high-quality software.

People do not want to be controlled in this world.

People want to be free and make decisions for themselves.

This is why there is this anti-globalist movement. This is why we see the British exit, this is why we see the election of Trump.

The globalist movement with control by a world government does not work.
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:
https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation

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: 2017-01-20 05:48:44
[2017-01-20 20:57:27]
Sierra Chart Engineering - Posts: 56335
And if anyone thinks our complaint here is not valid, we remember during a call about 10 years ago with a salesperson with DTN IQ Feed, and without us even raising this issue they went on at length with us complaining how the exchange fee policies of the exchanges make their business so difficult.

They were complaining at length about how depressing and difficult their business is because of the policies of the exchanges, specifically related to the unfair practices involving the policy of preferential treatment to a broker as compared to a data provider that the exchanges would give the brokers. The tone of the call was like they were looking for sympathy and expressing their frustration and unhappiness over the whole situation.

And they were also talking about a lot of the data redistribution from exchanges that goes on over the Internet is not even legal but yet they (IQ feed) have to comply with the exchange policies regarding exchange fees which puts them at a disadvantage.

We also heard from Tele-trader that they were intensely audited by the NASDAQ related to market data. This puts the fear of God into these guys. As if somehow the NASDAQ price feed is proprietary information. It is nothing of the sort. This concept of professional and nonprofessional is also total garbage especially with the way that they analyze this.

We also heard more than 15 years ago from Track Data/My track, that when the NYMEX audited them, that they noticed their delayed data was off by about few seconds and they were hit with a USD20,000+ fine (later reversed). Once again putting the fear of God into these guys.

Now recently the exchanges have changed their policies because clearly they were not legally fair but unfortunately they have changed them in such a way that makes it more difficult for all of us. For example, the ICE now charges 110 USD per month exchange fee for every computer terminal receiving the data.


Here is another such case. We had someone from Europe asking us for a free trial of real-time US equities data. We told the cost is going to be 15 USD. Most of that is simply from the NYSE and NASDAQ exchange fees. They then came back to us and said they want to cancel their trial. This meant to us, well if you are going to charge for free trial, then we do not want to do business with you. Not realizing, it is the exchange charging a fee for the price data being set by the public.
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:
https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation

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: 2017-01-23 01:44:27
[2017-01-20 21:02:21]
Sierra Chart Engineering - Posts: 56335
Prior post above has been updated.

You can understand the basis of our complaint here. It is all completely valid.

And we are trying to make this public and try to bring about a change. Because once again the core problem is exchanges are distributing your pricing data. It is not theirs.

And while they have a right to earn money, they need to do it in such a way that they do not cause problems for those businesses providing market data and they will actually facilitate a much more open and participatory environment.

They will actually find greater participation when exchange fees are eliminated, much higher reliability of data distribution, and much greater innovation regarding market data such as increased availability of various statistics calculated from the real-time data.

This is what Trump said during his acceptance speech today:
"Today’s ceremony, however, has a very special meaning because today we are not merely transferring power from one administration to another or from one party to another, but we are transferring power from Washington, D.C., and giving it back to you, the people.".

So we would hope, that we can create either a new exchange, or the existing exchanges can have more open and fair policies. With the advent of the Internet, and greater participation among the public with trading, it only makes sense that exchange fees are simply eliminated at this time. Exchange fees are some kind of exclusive club mentality.
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:
https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation

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: 2017-01-20 21:16:49
[2017-01-20 21:12:21]
Sierra Chart Engineering - Posts: 56335
There is also a broker we do business with, we will not mention their name, that was not aware they were supposed to be collecting EUREX exchange fees.

The EUREX did not notify them. They still held them liable for all of the fees that they did not collect going back many months. It was a very expensive bill for 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:
https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation

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.
[2017-03-07 03:45:13]
Sierra Chart Engineering - Posts: 56335
Came across this:
https://www.iextrading.com/faq/ (Investors Exchange)

This one is for stocks, we want to create one for futures.

Whoever is interested and joining in this effort for a new futures exchange, please contact us at business _At_ SierraChart.com.
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:
https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation

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: 2017-03-07 03:49:54
[2017-09-11 18:09:16]
Sierra Chart Engineering - Posts: 56335
Continuing to reaffirm, the absolute total complete utter madness of CME market data policies.

We waste immense amount of times with this. We do not have much tolerance for this.

If you do not want to take the time to read this page and understand it:

https://www.sierrachart.com/index.php?page=doc/FuturesData.php

Then there is almost no point in us answering any questions about it.

Interesting, no one marks this post with thank you's. Nobody should be apologetic as to the situation with CME market data policies and other exchange market data policies.
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:
https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation

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: 2018-01-08 09:36:20
[2018-01-08 05:45:48]
Sierra Chart Engineering - Posts: 56335
In regards to the concept of creating a new exchange. This is something we are determined to achieve and we are going to undertake a decentralized type of exchange model. This is where you will be empowered, and where Sierra Chart itself becomes the exchange and order matching engine.

This is going to eliminate exchange fees and market data fees.

We do not want to go into a long explanation but there is zero doubt in our mind, longer-term, the concept of the centralized exchange, at least for anything that can be immediately settled with a digital transaction or can be implemented through a smart contract, is simply out of date.

Also the solution here is not the inefficient block chain like bitcoin is using. That is a grossly inefficient concept that is not going to persist longer-term.
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:
https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation

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: 2018-01-08 06:41:48

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