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[User Discussion] - Last Price Box not matching chart price

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[2021-07-12 11:48:18] #1 [Go To First Post]
58LesPaul - Posts: 429
Noticed the last price box on the right edge does not match the chart last price. It will eventually move and catch up only to fall behind again. It is on the 5 minute chart of CL while the 60 and 15 minute charts in same chartbook works fine. Tried closing and reopening chartbook but didn't help. Chart update interval was set at 0 to use global with the other 2 charts in chartbook. Also have chartbook of ES running and all of them seem to work fine also.


CLQ21-NYMEX[M] MCLQ21-NYMEX [CV][M] 5 Min #3 2021-07-12 .png / V - Attached On 2021-07-12 11:48:06 UTC - Size: 31.19 KB - 160 views

[2021-07-12 12:08:30] #2 [Go To First Post]
58LesPaul - Posts: 429
Also notice when in a trade the Chart Trade Window position P/L matches the Last Price Box instead of actual last price on chart. It also shows the P/L for CL instead of MCL even though I am using MCL as Trade and Current Quote Symbol.


CLQ21-NYMEX[M] MCLQ21-NYMEX [CV][M] 5 Min #3 2021-07-12 .png / V - Attached On 2021-07-12 12:08:19 UTC - Size: 34.66 KB - 152 views

[2021-07-12 12:43:37] #3 [Go To First Post]
User907968 - Posts: 802
Noticed the last price box on the right edge does not match the chart last price. The last trade price shown is from MCL, not CL, as you are using MCL as the 'Trade and Current Quote Symbol'. Open a chart for each side-by-side and you will see why the price differences exist. Chart Trade Window position P/L matches the Last Price Box instead of actual last price on chart. Same reason as above, you are trading MCL, not CL, so P/L is based on price of MCL. It also shows the P/L for CL instead of MCL even though I am using MCL as Trade and Current Quote Symbol. Chart Settings -> Advanced Settings 2 -> Currency Value Per Tick Date Time Of Last Edit: 2021-07-12 12:44:04

[2021-07-12 13:38:17] #4 [Go To First Post]
58LesPaul - Posts: 429
The last trade price shown is from MCL, not CL, as you are using MCL as the 'Trade and Current Quote Symbol'. Open a chart for each side-by-side and you will see why the price differences exist. I don't notice this with ES chart with MES selected as "Trade and Current Quote Symbol". Actually now I do notice it with ES and MES, it's just not as noticeable since the MES tracks the ES more closely I guess. MCL apparently can get at least 3 or 4 ticks away before catching up. Thanks

[2021-07-16 01:30:33] #5 [Go To First Post]
58LesPaul - Posts: 429
I'm still not certain this is accurate. Are the Current Bid/Ask lines following CL or MCL? Just shorted MCL at 71.57, watched price drop to 71.52 and stay there for 20 seconds while bid and ask moved up to 71.59 area. Covered the short when current price was still showing at 71.52, just to see where I would get covered, and it covered at 71.59. If bid and ask move up 5 ticks can last price stay down 5 ticks lower? Thanks I am assuming the Current price line and the Current Bid/Ask lines are following CL while the Last Price Box is following MCL? Is that correct? If so, that still doesn't explain why Last Price Box showed 71.52 while Bid/Ask lines showed 71.59 and Current Price Line showed 71.59 and I got filled at 71.59. Date Time Of Last Edit: 2021-07-16 02:32:19

[2021-07-18 16:42:55] #6 [Go To First Post]
58LesPaul - Posts: 429
Can SC Engineering comment on this please? Thanks

[2021-07-19 07:39:29] #7 [Go To First Post]
User907968 - Posts: 802
Open a chart for each side-by-side and you can easily confirm the behavior yourself. Bear in mind that MCL is: 1) thinly traded / illiquid, so you won't see trades at the same lavels as CL; and 2) pricing is more synthetic, i.e. to minimize arbitrage opportunity, market makers adjust MCL bids and offers to track the CL, so it is entirely plausible that the 'last traded price' in MCL could be quite different from the current bid/ask (and last traded price in CL). I am assuming the Current price line and the Current Bid/Ask lines are following CL while the Last Price Box is following MCL? Is that correct? If so, that still doesn't explain why Last Price Box showed 71.52 while Bid/Ask lines showed 71.59 and Current Price Line showed 71.59 and I got filled at 71.59. The 'Last Trade Price' box has absolutely no bearing on the price you can expect to be filled at. What the Last Trade Price, Current Bid/Ask, and Current Price Lines show is determined by your configuration.

[2021-07-19 13:22:37] #8 [Go To First Post]
User90125 - Posts: 715
Bear in mind that MCL is: 1) thinly traded / illiquid, so you won't see trades at the same lavels as CL; and 2) pricing is more synthetic, i.e. to minimize arbitrage opportunity, market makers adjust MCL bids and offers to track the CL, so it is entirely plausible that the 'last traded price' in MCL could be quite different from the current bid/ask (and last traded price in CL). So true. On the Wednesday night Globex open at 6pm (for trade date Thu 15 2021) the Micro Crude Oil front and nearby month (MCLQ1 and MCLU1) both had a flash crash of sorts. Regular CL and e-mini QM were unaffected, BTW. This was a full 9-handle swing at the Globex open from 72.50 to 63.57 on MCLQ1, and 72.00 to 63.10 on MCLU1. The CME and NYMEX did not break the trades as the low prints are still showing on the official settlement page here: https://www.cmegroup.com/markets/energy/crude-oil/micro-wti-crude-oil.settlements.html#tradeDate=07%2F15%2F2021 I'd say trade the MCL with caution until this sort of activity is fixed.

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