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Date/Time: Wed, 27 May 2020 12:57:12 +0000



[Locked] - Year 2019 for Sierra Chart

[2018-12-17 23:11:14]
Sierra Chart Engineering - Posts: 85548 | Ending Date: 2020-06-09
Update:

This post later became hidden because there were some misinterpretations of it even though it was written clearly.

When we talk about phasing out of external futures trading services, we do not mean that they will be removed. They will remain longer-term even for years from now.

What it means and we have said this also below, is that our new futures order routing service is going to be developed to be the very best service available and this will be established by actual operational fact. And then our user base will see this and gradually migrate over to it based on the merits of what we are offering.

We are not going to force our new service at least not until such time that it has proven itself. And even then, we will just use reasonable means to encourage migration over to it.

And the statements at this point in time constitute statements of intention. We still need to prove what we are intending but we do believe that what we are going to do is going to be quite successful.



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We have many good things coming for Sierra Chart including getting under control the various futures data and trading services that Sierra Chart supports, which really is a very messy and difficult situation for us and for users. And only creates a poor impression for us, a support burden upon us, and frustration and problems for users. This situation is not going to be allowed to continue.

Gradually this will be brought under control with a very reliable, easy to use, stable and cost competitive alternative solution for futures trading. This will also support web-based trading as well.

Some services are going to simply get phased out such as CTS and Rithmic. We are not going to go into a complete list at this time and this process is likely to go on about 24 months. That does not mean that support is going to get removed for those services, but at some point, we are going to make it clear to the different clearing firms and brokers that we no longer support those, and not to put anyone onto those systems any longer if they will be using Sierra Chart but only once it is clear that we have a viable alternative solution.

We are going to do our best to increase the rate of development and get a lot of requested features completed.

And we are also going to develop a direct vendor relationship with the CME and provide a unified feed to our user base. This is part of what we are referring to when we say "cost competitive". We are going to provide something that is cost competitive. Update: Our application to the CME is in progress.

The planned futures order routing solution is going to be broker neutral and support many clearing firms.

One good thing about this is that long-term order fill history will be maintained and missing order fills will be downloaded upon connection and each fill contains a position quantity accurately set. So this allows consistently accurate and complete and trouble-free trading related statistics. Currently this is just not possible.
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: 2019-01-16 10:24:44
[2018-12-29 10:15:13]
Sierra Chart Engineering - Posts: 85548 | Ending Date: 2020-06-09
The reason it is very important, that the number of supported services is reduced, and we have 1-2 standardized and redundant way of routing orders and providing market data and be in control of this directly is in order to provide the best quality and most functional and most reliable solution for Sierra Chart which we can directly support in most ways.

Right now, our resources are being spread out too much with all of these different problems that we have no control over. When someone tells us some ridiculous problem involving Positions that a position disappears or is inaccurately reported, when using Rithmic, Interactive Brokers or whatever, this is just simply not good.

We also put up with a myriad of reports related to trading related statistics which have a dependency on a complete set of order fills and accurate order fills. There is no solution to this other than what we are intending with our new futures order routing service. Here is one such example:
https://www.sierrachart.com/SupportBoard.php?ThreadID=39501

Our resources must be focused on developing and maintaining one solution and this will be the best solution. Other than spreading out our resources over various services that we do not control, and have changes from time to time, and trying to make everyone happy, then no one is ever completely happy.

This is simply not a good situation and can only be described as "nuts".

The other reason we need to have a single reliable and redundant futures order routing service with market data is that we need to be a market data provider for more exchanges, directly.

By providing a single unified solution for futures order routing and market data, we can then use the income from that solution to invest in the hardware and fees necessary to provide the reliable market data. For example, we intend to maintain order routing for the EUREX in Germany and also obtain the direct feed from the EUREX. This is costly.

And that is why we need to move everyone onto this solution hopefully in the next two years, in order to pay for all of these investments.

We have people asking us for futures market from the Japanese exchange. Once most of our users are on the same unified solution, then this becomes cost-effective for us to be able to obtain that. Otherwise it just simply is not.

Now certainly we do not want to do anything to damage the business we have now. So when we talk about phasing out services, this is long term, and it does not involve removal of those services. Instead this is a gradual process where we start releasing our own futures order routing service, and establishing it as the main service gradually, and gradually bringing the price down for it. To the point really where the other services no longer have any competitive advantage. And where it becomes point blank obvious that our own service is the ideal service to use.

This is broker and firm neutral, and would also allow other applications from other developers to use it as well.

As far as what services are intended to be gradually phased out, they are as follows:
Rithmic
CTS
CTS low-cost connection model (this service will actually get removed sometime in 2019 and we will provide plenty of notice to users and have an alternative)
CQG (will be supported but be considered less preferred if the new solution proves to be better which we expect it will be)
Gain Capital
IQ Feed

We would also like to point out that development for TD Ameritrade has ceased and there is no further technical support that we are providing for that service.
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: 2019-01-18 21:50:31
[2019-01-18 17:51:18]
Sierra Chart Engineering - Posts: 85548 | Ending Date: 2020-06-09
The new order routing solution we are working on which will use the Sierra Chart Exchange Data Feed is based on Trading Technologies order routing. It will use accounts created by the firms on the TT system.

We hope to have this out in a couple more weeks. And it is intended to support outright futures, futures spreads and strategies, and options. But there are still some details to be verified relating to contract types other than outright futures.

We do have the ability to support Sierra Chart managed accounts which will use our own position tracking, risk management, and account balance tracking. But this is a later step.
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: 2019-01-18 17:53:11

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