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Direct MessagesDate/Time: Tue, 16 Apr 2024 05:05:36 +0000
Sierrachart Order Routing - the present and the future?
View Count: 1144
| [2021-03-01 22:19:44] |
| User311344 - Posts: 136 |
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I had a short holiday break and missed all the fuzz with TT/AMP and at this moment I cant find any final infromation. So please tell me, what is the current and the future situation of SC Order Routing? (Asking as AMP customer) 1. You were using TT, which as I understand was permamently banned by AMP and suggested by AMP to move to CQG Order Routing? Is this also YOUR suggestion to move to CQG Order Routing at this moment? 2. OR - You want to move SC Order Routing from TT to CQG, so all your customers using SC Order Routing should stay as is until you make that switch? What is ETA of this process on your side? 3. OR - Sierrachart Order Routing is not available at this time and wont be available any time soon, so I need to switch to CQG Order Routing asap? Thanks in advance for clarification. Kind regards |
| [2021-03-01 22:34:41] |
| John - SC Support - Posts: 30870 |
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The main thing to understand is that AMP has discontinued support for TT, therefore the Sierra Chart Order Routing Service with AMP is no longer available. As such, if you are going to stay with AMP, then you will need to move to CQG for your order routing. We are working on our own CME Integration, but that will still be at least a few months away, so it is not something to wait for. We do still offer the Sierra Chart Order Routing through other brokers. Given the above, it is your choice on what to do from here. If you do stay with AMP and switch to CQG, then you will need to follow these instructions after the switch: TT Based Order Routing Service: TT Interruption | Post: 252374 For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2021-03-01 22:58:35] |
| User311344 - Posts: 136 |
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Thank you, John. Everything's clear now.
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| [2021-03-02 11:11:55] |
| User657945 - Posts: 226 |
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We do still offer the Sierra Chart Order Routing through other brokers.
John I did ask more than one time here to have suggestion who are (excluding IB) the brokers that could use the SC order routing on CME and Eurex too, can you gently tell who they are? thx |
| [2021-03-02 11:26:31] |
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We think Advantage Futures but they are charging 50 USD for a TT account which is assigned to the Sierra Chart TT user which we use for FIX order routing. The problem is TT charges a MAP fee of 5000 USD per month for EUREX to the clearing firms and it is just simply cost prohibitive. So that is why most of them just support EUREX trading on CQG. Once we have our direct routing to the EUREX, None of this cost will exist. 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: 2021-03-02 11:27:09
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| [2021-03-02 11:41:52] |
| User311344 - Posts: 136 |
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We do still offer the Sierra Chart Order Routing through other brokers.
So what is the reasoning behind that? Is AMP the only one acting responsibly party who decided to stop supporting TT and all others are taking chances and hoping there will be no 3rd time TT melt down? Or AMP was the only broker affected by this TT mishap? Then, what was the reason of this situation? Are AMP TT customers supported by some cheap low-end tech in contrast to other brokers? Date Time Of Last Edit: 2021-03-02 11:43:51
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| [2021-03-02 11:57:52] |
| User657945 - Posts: 226 |
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Thx John for answering first. Well could you please clarify which will be the date to have Eurex datafeed? Because I don't undesrtand how people can work with CQG api that has no server side brakets orders and also (from my info) the connectivity infrastructure is not 100% realiable, I mean fully redundant has will be the ones SC described here in the support board and that should be per best practice. Last but not least, since I'm spending my time on the phone with brokers and double checking with sierra about WHICH broker can give access to Eurex using server side brackets orders using SC, I can confirm it's true about the crazy 5000US$ TT is charging to Advantage and that not only AMP got involved in the mess on the CME; althought most of customers where on AMP. Date Time Of Last Edit: 2021-03-02 11:59:09
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| [2021-03-02 19:24:51] |
| User13668 - Posts: 291 |
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@657945 - post #8 I assume you are definitely after Bracket Orders and not just a straight OCO? As CQG with SC does have server side OCO's (CQG Trading Platform Service: What is Included). So for instance if you want to go Long with attached Take Profit and Stop Loss orders - then that is an OCO and is server side. It is what I use as I don't require full Bracket Orders. |
| [2021-03-02 19:40:31] |
| User657945 - Posts: 226 |
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@13668 That's the point the CQG web api it's NOT server side braket orders, only the integrated solution of CQG manage that , but after a 19xx release SC discountinued that for some technical issues. So the reality of this mess situation for AMP/TT/SC users is that 1) For CME till SC will be ready with their redundant solution there's no any possibility to have server side brakets orders. CQG Trading Platform Service Server Managed Bracket Orders: No. Support has been removed as of version 1819 due to unexpected behavior with this order type on CQG. For Server Managed Bracket orders, it is necessary that you use the Sierra Chart Order Routing Service with Data instead of CQG.
The CQG web API I got confirmation from two other brokers it is not supporting server side braket orders they reside on your PC2) For the ones like me on Eurex it's a nightmare at least for 2021 (only info gave last week from SC), I ask in the prior post to have a more certain data...no answer. Date Time Of Last Edit: 2021-03-02 19:45:03
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| [2021-03-02 20:06:02] |
| GreyLock58 - Posts: 168 |
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User13668. Please give an example of a full Bracket Order, because what you described as an OCO is a bracket order as described by Sierra Charts, and not supported by CGC. Then again, I keep seeing OCO being referenced as bracket orders and vice versa. Confusing?
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| [2021-03-02 20:21:43] |
| User657945 - Posts: 226 |
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The question is related to the "server side brakets orders" that means when an order is auto sent out from an algo in sierrra chart it will reside on the server, so any issue occuring between your pc and the server will not affect the execution of the tg and stop order, viceversa if your order reside on your pc the order is filled and someting goes wrong on the connection you have no control of the execution or the tg and stop order. More over redundancy/back up or what is tech called Disaster recovery solution it's what SC will put in place and they described here in one of the 100 posts about this mess. BUt they are planning following best practice in this field while I did not get any assurance about that about CQG api solution.
Date Time Of Last Edit: 2021-03-02 20:22:30
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| [2021-03-02 20:35:58] |
| User657945 - Posts: 226 |
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How the SC CME order routing will be it's described here post #12 TT Based Order Routing Service: TT Interruption and if you wish to understand how a disaster recovery should be built thers's this nice white paper https://www.cisco.com/en/US/technologies/collateral/tk869/tk769/white_paper_c11-453495.pdf Date Time Of Last Edit: 2021-03-02 20:39:17
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| [2021-03-02 20:40:55] |
| User13668 - Posts: 291 |
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re post #11. I agree the use of 'OCO' and 'Bracket Order' are confusing. Not just here at SC, but also how other brokers, s/w providers and data providers use the terms. From what I understand in SC documentation this is how I have interpreted it: 1/ Vanilla simple OCO: you place an order to go Long (or Short) and you attach child (sibbling orders) to Take Profit or be Stopped Out - whichever comes first. My understanding is that with CQG Web API (using SC) these are SERVER side ie you are protected from a malfunction with your PC and/or internet connection to your place of trading. 2/ Complex Bracket Order: this is effectively like two OCO's ie say price is currently 1000.00 and you want to go Long when price gets to 1005.00 OR Short when price gets to 995.00 - whichever comes first (ie but not both). AND you want to have sibbling orders attached to those as well eg if the Long at 1005 is triggered first you want a Take Profit and Stopped Out order to be attached. Plus you want all of this Bracket Order and triggered OCO (for the Long) to reside server side. Well my understanding is SC does not support this with CQD Web API. |
| [2021-03-02 20:55:52] |
| User13668 - Posts: 291 |
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In addition to what I posted above (#14) refer this part of the documentation: Attached Orders: Management of Attached Orders when Trading Service Supports Server Side OCO Only It says you can check if indeed your OCO orders (not Bracket) are server side by referring to the Trade Activity loog. I just checked mine again and I confirm it says my OCO orders for Eurex trades using SC > CQG Web API > AMP Futures are indeed SERVER side. |
| [2021-03-02 21:05:12] |
| User657945 - Posts: 226 |
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@user13668 agree not bracket simple OCO, but for brackets order they reside on your pc not really a good solution in 2021 and SC/TT was server side based and it will be as SC too.
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