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New Sierra Chart Futures Order Routing with Data Service (Available)

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[2019-04-04 03:21:17] #100 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
We have set up an order routing server in Germany for this service with connectivity to the TT Frankfurt server. Support for this will be in the next release of Sierra Chart coming out in a couple of days (Server 3). We will put together a table indicating the location of each server. This is only for order routing. EUREX market data will still pass through Chicago. For us to obtain data direct from the EUREX out of Frankfurt is a lot more expensive. So market data will not originate from there. We will have to reevaluate based on the level of demand and the number of customers. 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: 2019-04-06 19:38:38

[2019-04-04 11:54:39] #101 [Go To First Post]
User257019 - Posts: 25
I like everything I read here. It would be great to get data from Europe, but I understand it will be possible depending on the number of users in the future. I have three questions: 1. I will use limit orders manually mostly, so as you will support server side orders, would I be impacted in any way of getting the data from Chicago with latency? I don´t really know how this works, to be honest. I mean, I don´t care about 120ms in receiving the real-time data, as long as the order is the one placed in real-time. 2. Do you guys have any experience on European brokers where you are already working with them with TT that I can review? any suggestions? 3. Will you deploy a secondary European server for redundancy? it would be great if when you are going to select the server you want to connect you could see how many users are using it, so you can choose the one with less number and thus it will be easier to load-balance. Thanks! Date Time Of Last Edit: 2019-04-04 11:55:16

[2019-04-04 16:07:59] #102 [Go To First Post]
User657944 - Posts: 173
Answering post 70510 Well it is strange what you say about the cost in Frankfurt vs US connectivity but it could be possible,anyway the best way to have a real benefits of this TT routing will be as follows: 1) Data and routing servers in Frankfurt from sierra 2) From us as users Find a TT/sierra certified Broker but with more or less the cost of the US brokers (and this will be quite difficult) Just to give you an idea I have a network latency (that friendly speaking is the biggest problem) of 120ms to Chicago and 17ms to Frankfurt from Milan. So then we have to add to this the latency of the PC,your server and the order routing serves of TT, but these last latency are peanuts vs. to the networks if they are all Frankfurt based. So that's why the key point is to have a Sierra access in Europe My 2 cents

[2019-04-05 01:59:45] #103 [Go To First Post]
User76183 - Posts: 68
Yes, routing in different locations is needed 100%. In my case- Hong Kong or Singapore

[2019-04-05 12:11:17] #104 [Go To First Post]
User350666 - Posts: 38
Dear Support, Can you please confirm that this new service already works with/supported by Berkeley Futures? Also please let me know if UK Futures trading (ICE EU) is supported through this connection and if spread trading is supported using the SC Realtime Exchange data? Thank you. Date Time Of Last Edit: 2019-04-05 12:17:04

[2019-04-05 17:08:15] #105 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
Is Berkeley Futures the clearing firm or the introducing broker? Also please let me know if UK Futures trading (ICE EU) is supported through this connection and if spread trading is supported using the SC Realtime Exchange data? Yes ICE Europe is supported. But there is a limitation where ICE Europe spreads cannot be traded due to us not being able to easily map the SC Exchange Data Feed symbols to the TT symbols. All of the CME spreads and options can be traded but we still have to complete the conformance for those with TT. We will try to get to that this coming week. In regards to a Singapore server, we will be setting that up as soon as we can. 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: 2019-04-05 17:09:00

[2019-04-05 19:23:23] #106 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
We just noticed these questions now: 1. I will use limit orders manually mostly, so as you will support server side orders, would I be impacted in any way of getting the data from Chicago with latency? Not with order routing. I don´t really know how this works, to be honest. I mean, I don´t care about 120ms in receiving the real-time data, as long as the order is the one placed in real-time. Okay. The order will be routed within milliseconds. 2. Do you guys have any experience on European brokers where you are already working with them with TT that I can review? any suggestions? Check with Marex. 3. Will you deploy a secondary European server for redundancy? it would be great if when you are going to select the server you want to connect you could see how many users are using it, so you can choose the one with less number and thus it will be easier to load-balance. No not now. There will not be enough usage to justify that. And in the latest version of Sierra Chart coming out later today you can choose a primary and backup server. The uptime of the server is very high. And load for order routing is not a concern. There can be a thousand users connected to a server without a problem. And there would be nowhere near that anytime soon. We would expect the number of users on the server to be under 10 for the time being. 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: 2019-04-05 19:24:17

[2019-04-06 02:11:48] #107 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
Version 1896 now allows you to specify a primary server and a backup server when using the SC Order Routing Service. The server definitions are currently as follows: Server1: Currently Cermak Equinix data center in Chicago, US Server2: Currently Cermak Equinix data center in Chicago, US Server3: Falkenstein, Germany Server 1 is going to be changed to CME Aurora data center within the next 45 days we expect. 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

[2019-04-06 19:39:44] #108 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
We need to correct what we said in regards to EUREX data out of Frankfurt. This is the correction: For us to obtain data direct from the EUREX out of Frankfurt is a lot more expensive. So market data will not originate from there. We will have to reevaluate based on the level of demand and the number of customers. We are going to be working with the raw EUREX feed, but it comes through another provider who is able to provide a more reasonable cost. Otherwise, we would be losing money. And a lot. However, now we have a server in Germany for order routing. This is available 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 Date Time Of Last Edit: 2019-04-06 19:40:44

[2019-04-07 04:00:25] #109 [Go To First Post]
User753428 - Posts: 158
i assume obtaining low-latency market data directly from the Asian exchanges like hkex, sgx, jpx, and asx is too cost-prohibitive for SC. 1) but since the new SC order routing service is based on TT routing and TT already has access to the co-location racks at all of hkex, sgx, jpx, and asx exchanges, is this something SC's order routing service can leverage at little to no additional cost? 2) and how do clearing firm risk management checks fit into the order route? so for example, if i live in Japan and I use AMP for clearing and select your future Singapore Server for this order routing service, would it look like this for example? japan (place order to buy 1 hangseng contract) -> SC singapore server (receive order) -> Chicago (margin check by AMP clearing) -> SC singapore server (send order to TT) -> TT co-located server@HKEX (order is executed) or is it: japan (place order to buy 1 hangseng contract) -> SC singapore server (receive order + perform margin check accd to clearing firm specifications) -> TT co-located server@HKEX (order is executed)?

[2019-04-07 04:10:20] #110 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
1. No, there still is a very substantial cost. And this is one reason why we have said, that it is best that most users are concentrated on to this particular service with us receiving the payments for data feeds, and earning a little extra on order routing fees, so there is sufficient funds to pay for all of these market data connections. This is our longer-term intention. So we hope there will be progress made over time with with providing low latency market data from other exchanges. 2. None of the above. Do you really think clearing firms are going to put their reliance on us for risk management while at the same time using TT for order routing? Order routing and risk management is handled by TT with oversight continuously by clearing firms. They should not even put their reliance on TT either. They can get into trouble with that. While we do not have inside knowledge of how clearing firms operate with risk, we have heard enough to understand, that this is closely monitored by them. While we certainly develop quality software, and do plan on releasing risk management functionality for live trading at some point, this is not how it works. All margin checks are performed by TT. And most likely the clearing firm would just simply utilize order quantity and position checks and do no account balance check. The margin and account balance checks may just be manually monitored by the clearing firm. 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: 2019-04-08 04:57:01

[2019-04-07 04:19:37] #111 [Go To First Post]
Acro - Posts: 436
One of the issues that faces non USA based traders with using this service instead of someone like Interactive Brokers is the exchange rate problem faced when getting funds into US brokers. Whenever I deposit or withdraw funds from a US broker I have had to experience retail US exchange rates, which are quite horrendous and far removed from the true exchange rates or even the rates offered by specialist companies such as OFX. If this issue was addressed in some way, ie a mechanism for us to fund the account at a real exchange rate, then I for one would certainly be less reluctant to move over from Interactive Brokers

[2019-04-07 04:30:52] #112 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
You do not have to use a US broker. There are plenty of non-US firms that use TT. You can find the list here: https://www.sierrachart.com/index.php?page=doc/SierraChartOrderRoutingServiceWithData.php#SetupInstructions You could look at using Macquarie. We are not going to say that Macquarie is better than Interactive Brokers. You probably are better off using Interactive Brokers. But Macquarie does support TT. So you really have to do your due diligence on them. What markets did you want to trade? Did you want to trade any Australian markets? We could do a server in Australia if there is enough interest. And regarding exchange rates, why not just simply do currency conversions separate from the broker at a site that does them fairly, then send the broker funds in the currency of the contracts being traded. For example USD or euro. 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: 2019-04-07 04:35:26

[2019-04-07 04:35:13] #113 [Go To First Post]
Acro - Posts: 436
Thanks. I will contact Macquarie early this week. I know a few other Australians that are certainly interested in the SC data feed now that you have moved to 200 levels. Perhaps you could canvass interest but I will happily support that request Re exchange rates, I tried that previously but brokers like AMP do not allow receipt or withdrawal of funds if not from an account in your own name so that rules out most intermediary FX services Date Time Of Last Edit: 2019-04-07 04:36:25

[2019-04-07 04:36:30] #114 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
We can make the introduction to Macquarie for you. We know someone there. But once again we are not saying they might be a good choice. They are not going to have nearly the sophistication level of interactive Brokers when it comes to derivatives trading. 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

[2019-04-07 04:37:28] #115 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
Re exchange rates, I tried that previously but brokers like AMP do not allow receipt or withdrawal of funds if not from an account in your own name so that rules out most intermediary FX services This is because of government required AML regulation. Very very unfortunate. 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

[2019-04-07 04:41:46] #116 [Go To First Post]
User753428 - Posts: 158
Order routing and risk management is handled by TT with oversight continuously by clearing firms. They should not even put their reliance on TT either. They can get into trouble with that. While we do not have inside knowledge of how clearing firms operate with risk, we have heard enough to understand, that this is closely watched by real people continuously. okay makes sense. i'm not technically knowledgeable with these things and just wasn't sure what the benefits of having a Singapore server was if the order signal has to travel back and forth between Singapore and US for risk checks anyway. but if all margin checks are done by TT like you wrote, then i assume this would not be the case and there would be an advantage to having a server in Asia.

[2019-04-07 19:22:34] #117 [Go To First Post]
User13668 - Posts: 291
@Acro re post #111 Is it not possible for you to open in the same name as your AMP account a US$ and/or Euro$ account in your home country and then get AMP to just TT/wire US$ to your local country US$ account and then you do the conversion when and how you deem? I am in NZ and have a banking relationship with HSBC. My main account is in NZ$ but I also have an A$ and US$ account with HSBC NZ in the same name. To be clear though, I have not yet asked AMP to wire my trading profits in US$ to my US$ account based in NZ. Maybe they will refuse to do that when I ask, although I don't know what the reason would be as it is in my name ie the same as my AMP account. Might be worth a question to AMP.

[2019-04-08 04:37:26] #118 [Go To First Post]
Acro - Posts: 436
Re post #117, whilst I appreciate the feedback my thoughts are: AMP wires cost USD30 and currency conversion is USD30. Not sure on the fees of maintaining an HSBC account with multiple currencies. Since you need to factor all fees into your P&L, you'd need to model in the HSBC monthly fees as well as the regularity of broker withdrawals/deposits and related transaction fees (both of AMP and your own bank) to keep a minimum balance with your broker to trade your required number of contracts at a safe margin. I have no desire to keep more than the minimum with a broker due to the horror stories that abound in the industry. If you instead have an Interactive Brokers account where you deposit the funds locally there are no such fees. That is my point Date Time Of Last Edit: 2019-04-08 04:44:44

[2019-04-08 05:46:45] #119 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
Also check with ANZ. They have multicurrency accounts: https://www.anz.co.nz/personal/migrants-travel-foreign-exchange/international-banking/foreign-currency-accounts/ This is for NZ. Not sure about Australia. 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: 2019-04-09 06:15:55

[2019-04-08 10:25:34] #120 [Go To First Post]
patrader - Posts: 92
Check out TransferWise Borderless for multi-currency set up.

[2019-04-08 12:44:46] #121 [Go To First Post]
patrader - Posts: 92
One of the listed features of the new service is: "Ability to access trading accounts with different firms in a single instance of Sierra Chart." Would having different trading accounts with different firms require more than one subscription to SierraChart's real time datafeed?

[2019-04-08 12:59:05] #122 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
No, you do not have to pay for more than one subscription. 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

[2019-04-08 14:46:28] #123 [Go To First Post]
User462086 - Posts: 188
Just talked to my broker about this. Unfortunately their clearing firm has not been happy with TT in the past. In this case, there's something about the direct connection between Sierra Chart and TT that bypasses the clearing firm's account controls. In an earlier message it was stated that AMP had also not been happy with TT, and yet they have signed on to this service. Can you comment on this so I could forward the reply to my broker? Many thanks.

[2019-04-08 15:14:21] #124 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
One thing we would say is that we do not see how the connection between Sierra Chart and TT which uses the TT FIX platform, would bypass the clearing firms account controls. This inherently does not make sense. The reason why it would not bypass the clearing firms account controls is because a standard TT account is being used but it is just simply shared with the Sierra Chart FIX connection to TT for order routing. Whatever risk management is utilized on the TT side and also on the clearing firm side, remains the same. There simply is no possibility of any type of bypass. This must be a misunderstanding. In regards to not being happy with TT, we assume this relates to TT risk management but as we understand, this has been improved upon on the TT side. 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: 2019-04-08 15:21:12

[2019-04-08 16:03:56] #125 [Go To First Post]
patrader - Posts: 92
Rather than posting which FCMs have the ability to authorize the new service can Sierra say which FCMs have, on a practical level, said "fine with us". In particular, I'm curious about Dorman and Ironbeam.

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