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Direct MessagesDate/Time: Sat, 20 Apr 2024 00:45:21 +0000
Sierra with denali/Interactive broker and Futures order routing service
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| [2020-07-04 11:07:07] |
| User194713 - Posts: 27 |
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Hello I am currently looking at the possibility of setting up a limited company to trade through. That will mean moving from non-professional to professional CME status and incurring higher exchange fees. At the moment I run Sierra as a stand-alone charting service with denali data feed and non-professional CME exchange fees. I also run interactive brokers TWS as a separate application on the same PC to handle order placement/management. I also pay IB non-professional CME exchange fees to obtain real-time quotes within TWS. I only trade the e-mini S&P/ES contract and do not require market depth. If I set-up a limited company, I do not want to pay CME exchange fees twice. I have never placed an order through sierra charts but I am very happy with the charting application and am thinking about adding sierra charts trading service to handle order management. My questions are: I would rather not add complexity to my set up, if it is going to introduce less reliability. Should I be concerned about this or is the integration between sierra and IB bullet-proof? If IB is connected to sierra software for order management only, how are the data streams managed? i.e. I want to be sure that the data on my charts is from denali and not interactive brokers but that bid/offer prices are representative of current IB market prices. If I follow “set-up instructions” on sierra chart website under “Interactive Brokers Trading Service” will this configure the data as required? I gather that the CME charge $44 (or around this price) for e-mini only professional access but around $120 for all CME products. If I only require CME ES data, will I just be charged for existing sierra chart license, denali data feed and a single $44 exchange fee per month? Presumably if orders are routed via sierra, I will not need to pay IB and sierra the CME exchange fee, just sierra? I gather that once a buy/sell order is filled, if used, the accompanying bracket/attached orders are held on IB servers. Is adjusting bracket prices held at IB via Sierra software easy and reliable? I guess changing my broker and setting up the Sierra Futures Order Routing Service with Data is an option. Does this service offer any benefits over my current set-up? How would latency between this service and Interactive Brokers TWS compare? Also in order to consider it, I would need to compare cost per round trip for an emini ES contract. And I would need to be comfortable that my capital is in safe hands. I am based in the UK. Given these considerations, who would you recommend that I speak with? Thanks in advance John Date Time Of Last Edit: 2020-07-05 01:37:05
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| [2020-07-05 01:55:11] |
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You have a very long lengthy post with a lot of questions. All we can say is that you should use the Sierra Chart Order Routing Service with the Denali data feed (Which you are already using): Sierra Chart / Trading Technologies Futures Order Routing Service Read through that page to understand all the functionality and benefits. That is your responsibility rather than posting here. You have different clearing firms you can choose to work with. You will pay exchange fees just once. All of your other questions are not within the scope of our support. We really do not recommend staying with Interactive Brokers and we provide no technical help for anything related to that service. 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: 2020-07-05 01:55:46
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