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Date/Time: Tue, 27 Feb 2024 00:51:08 +0000



AMP needs Sierra Chart approval to move accounts to Teton

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[2023-04-19 12:30:09]
gcUserStudies - Posts: 87
Another update. Just received email that trading is now enabled for Teton and the following message regarding margin information etc... for anyone interested


Risk Management Differences from our standard CQG, Rithmic and TT

How Sierra Chart is currently programmed, if your Account is Under-Margined at the End of Day Session Margin Check (3:55pm CST-Chicago), it will CLOSE/Liquidate ALL the Open Positions. It will NOT trim/Reduce positions is will CLOSE ALL Positions and Cancel ALL working Orders for your ENTIRE account.

You must manage meeting the required Exchange Margin Requirements before the End of Day Session Margin Check (3:55pm CST-Chicago) to make sure your Open Positions meet the Exchange Margin Requirements to avoid ALL your Open positions from being CLOSED/Liquidated.

Here is the schedule, so you can properly manage your positions:
At 3:45pm CST-Chicago, the margin requirements on Sierra will be updated to the Exchange Maintenance Margins Requirement (amount required to carry the position past the daily close).
At 3:55pm CST-Chicago, the End of Day Session Margin Check will run and any accounts that Do NOT meet the Exchange Maintenance Margins Requirement – ALL OPEN Positions will be CLOSED/Liquidated and ALL Working Orders will be cancelled.
This will provide you approx. 9 minutes (3:45pm-3:54pm CST), to review your Account and make any adjustments you need to meet the Exchange Maintenance Margins Requirement.

You will see the Exchange Maintenance Margins Requirement in your Sierra Chart Column – MarginRequirement. This is the column that Sierra Chart will use during the End of Day Session Margin Check at (3:55pm CST-Chicago). If your AccountValue (NLV) is less than the MarginRequirement it will CLOSE ALL Positions and Cancel ALL working Orders for your ENTIRE account.

If the Net Liquidity of an account reaches a Daily Loss Limit of 80%, open positions will attempt to be liquidated. Clients are responsible for monitoring their positions and are financially responsible for any losses generated by open positions in the account. AMP retains its right to liquidate positions in any account, at its sole discretion, with no forewarning. If the Risk Desk is forced to liquidate positions in any account, due to either 80% daily loss limit reached or to meet Initial Margin set by the exchange 5 minutes before the daily trading session close, there will be a $25 per contract for Full Size Contracts or $2.50 per contract for Micro Contracts liquidation fee charged.

This above process is an automated process built natively within Sierra Chart. As with all trading, there are many reasons why the above automated risk management process could not work as expected or desired (including but not limited to market conditions or bad information). If there are any failures to the above risk management process, you are still responsible for all trading margin requirements, trading PnL and debit balances. If you do not accept the trading risk or the risk management processed explained above, please do not place any live orders/trades.


Margin Differences from our standard CQG, Rithmic and TT

During the US overnight session (from 5pm until 7:45am CST-Chicago), the margin requirements will be 25% of the Exchange Maintenance Margins Requirement.

At (7:45am CST-Chicago), AMP standard Day Trading Margins will be applied until (3:45pm CST-Chicago).

[2023-04-19 19:51:15]
User311344 - Posts: 136
During the US overnight session (from 5pm until 7:45am CST-Chicago), the margin requirements will be 25% of the Exchange Maintenance Margins Requirement.

So seems that even though AMP finally accepted Teton it's still under critical scrutiny. I wonder if thats a temporary probationary period or it's gonna stay that way? It's kinda headache for trading european session. Couldnt it be just 5pm until 0:45am CST...

Dear Sierra - any chance you could talk to AMP again and give them some more trust in your beautiful Teton order routing?
Date Time Of Last Edit: 2023-04-19 19:59:46
[2023-04-19 19:58:40]
Luke - Posts: 142
Currently only CME available with AMP and Teton. I cant place live trades for YM and MYM, orders are rejected, CBOT not possible.
Date Time Of Last Edit: 2023-04-19 19:58:59
[2023-04-19 20:00:01]
User13668 - Posts: 291
re post #26.

It certainly does not work for me which is why I could not actually progress with my Teton beta testing, even though I did get to the point of a Live order being placed (only to observe the excessive marging being applied).

I scale in and out with my strategy/style and I live in NZ so my trading is in the US overnight hours, so this situation of not being able to take advantahe of Day Margins does not work for me. Funny how AMP can apply Day Margins in the overnight session with CQG but not Teton/SC.
[2023-04-19 20:10:43]
User311344 - Posts: 136
Funny how AMP can apply Day Margins in the overnight session with CQG but not Teton/SC.

Yeah it can be AMP being too careful with new solution but same time it effectively undermines my trust in Teton as AMP surely have their reasons. I hope Sierra will take further steps to sort it out with AMP.

What's funny is that AMP puts their low trust in Teton onto us users with increased margins lol
Date Time Of Last Edit: 2023-04-19 20:12:32
[2023-04-19 22:48:20]
User753428 - Posts: 158
if AMP is gonna prevent teton users from using day margins during the overnight session, there's little reason to use teton with AMP. might as well use a different broker.

doesn't AMP realize the only reason people use them as a broker is due to their day margins? AMP is a very risky broker to use because of how undercapitalized they are but retail traders are still willing to assume this risk because in return, they're getting the best day margins in the industry. AMP used to have the best commissions too but now the difference isn't that great anymore.

What's funny is that AMP puts their low trust in Teton onto us users with increased margins lol

yea for real. if they don't have enough confidence in Sierrachart's Teton, take it up with them. don't punish the users lmao.
Date Time Of Last Edit: 2023-04-19 22:49:43
[2023-04-20 06:42:37]
Sierra_Chart Engineering - Posts: 12977
Regarding this and similar postings:


Dear Sierra - any chance you could talk to AMP again and give them some more trust in your beautiful Teton order routing?

We think it might be related to their less experience with Teton order routing with their overnight risk management. So hopefully as they gain more experience, they can reduce margins.

We would never tell or suggest to a broker or clearing firm what to do in regards to their risk decisions. That is always there decision.

We do not think it is a matter of trust. We do not want to go into further details, but we do not think it relates to trust at all.
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, use the Teton service:
Sierra Chart Teton Futures Order Routing
[2023-04-20 08:56:23]
User13668 - Posts: 291
ex post #31
We think it might be related to their less experience with Teton order routing with their overnight risk management. So hopefully as they gain more experience, they can reduce margins.

I think you might be right.

March 13 was when I was finally set up with the beta and Live Trading was enabled. It was at this point I noticed AMP/Teton/SC was applying full exchange maintenance margins in the overnight session.

When I pointed this out to AMP they said margins were set to 100% in the overnight session and they were waiting on SC to make an adjustment for AMP for margins during the overnight session.

So it now seems that has been achieved, and although it is not the day session margins that are appying in the overnight session, I can live with 25% of the exchange maintenance margin - it is certainly better than 100%.

So my thinking (which is inline with SC thoughts) is that AMP want to get a bit of experience with Teton, maybe they want to see how it handles a volatile, fast moving session before they relax the margins in the overnight session (which I assume is when they have less staff on monitoring the markets and customers margins/net liquidity).

So I will give it a whirl again and start some live trading via Teton.
[2023-04-20 14:07:45]
onesticktrader - Posts: 8
AMP used to have the best commissions too but now the difference isn't that great anymore.

I still haven't seen any broker compete with AMP commissions. Maybe if you buy subscriptions from tradeovate but then you're stuck with their awful platform and you have to do enough volume for the subscription to pay off.
[2023-04-24 20:59:14]
User624595 - Posts: 159
I still haven't seen any broker compete with AMP commissions. Maybe if you buy subscriptions from tradeovate but then you're stuck with their awful platform and you have to do enough volume for the subscription to pay off.

Can someone show what the statement commission breakdown looks like trading 1 lot ES on Amp Teton?
[2023-05-01 22:00:43]
user_xyz - Posts: 363
Has AMP corrected the overnight margin requirements or is it still at 25% of normal regular trading hours?
[2023-05-01 22:11:20]
user_xyz - Posts: 363
It looks like yes still at 25%. Here is a statement from AMP on Teton with a link they are updating from 2 days ago. Assuming any future changes will be updated here

https://faq.ampfutures.com/hc/en-us/articles/13992634150679-Teton-Sierra-Chart-Risk-Management-Differences-from-our-standard-CQG-Rithmic-and-TT

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