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Sierra Chart Futures Order Routing Service With Data

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Introduction

The Sierra Chart Futures Order Routing Service With Data is a new service from Sierra Chart to provide futures contract, futures spreads, and futures options order routing services along with market data.

This service supports a large number of clearing firms (list below) since the order routing in the background is through Trading Technologies (TT). So in other words it is broker/firm neutral.

Supported exchanges are CME, CBOT, NYMEX, COMEX, ICE US, ICE Europe, EUREX, Hong Kong futures, CFE.

It has the following features:

  • Low latency order routing. Under 1 millisecond.
  • Stable and reliable connectivity.
  • Simplified connectivity.
  • Long-term order fill history with accurate Position data to ensure complete, reliable, hasslefree, and consistent trade statistics reporting within Sierra Chart like the Daily Profit/Loss, the Trade Activity Log Trade Statistics and Trades Tabs, and the Trade Statistics for Charts.
  • Trouble-free and properly managed server-side OCO orders.
  • Trouble-free and properly managed server-side bracket orders.
  • You still have the ability to use client-side managed OCO and Bracket orders. Trailing Stop orders are still always managed locally on the Sierra Chart client side.
  • Reliable market data with extended market depth for CME markets.
  • Can trade spreads and options with easy symbol Lookup (only CME markets at this time).
  • Uses TT in the background for order routing and accounts. Therefore, any broker supporting TT can be used.
  • Web-based trading panel (upcoming).
  • Cost is .10 USD per contract for order routing. Current data feed pricing starts at 25 USD per month.
  • Ability to access trading accounts with different firms in a single instance of Sierra Chart.
  • For market data, the high quality and reliable Sierra Chart Exchange Data Feed is used.
  • Order routing is through a server managed by Sierra Chart with a FIX connection to Trading Technologies. Overall latency is below 1 millisecond to the exchange.
  • Support for multiple simultaneous connections to the trading server. There is no limit on the number of connections. However, because each connection is going to be using the Sierra Chart Exchange Data Feed there is a separate real-time connection fee for each connection. For real-time data connection pricing, refer to Data Feed Pricing. However, if you are using Sierra Chart from the same computer you can use the New Instance feature and use a single connection in multiple instances of Sierra Chart on the same computer.

This new order routing solution is meant to evolve over time to be the very best and lowest cost futures trading solution for the Sierra Chart user base. It allows us to provide a high level of support and reliability to our customer base. So that you have a consistently and trouble-free and reliable trading experience along with trade statistics reporting.

Over time this is meant to be an alternative or replacement for other supported trading gateways like Rithmic, CQG, CTS, Gain Capital, Interactive Brokers. It is the intent that it will be cost competitive with other services as we build up the number of users. For example, we will be able to provide more simultaneous symbol subscriptions and a more cost-effective price for the data feed later this year, at the very least for the CME.

It allows Sierra Chart development to focus on one solution and making it the best solution rather than spreading our resources thinly among multiple solutions and each of those other multiple solutions being less than the best. And it also allows Sierra Chart development to focus more on the development of Sierra Chart itself rather than chasing all of these other external services and their problems every single day.

What is Included

  • Streaming Real-Time Data: Provided by the Sierra Chart Exchange Data Feed.
  • Historical Intraday Data: Provided by the Sierra Chart Exchange Data Feed.
  • Historical Daily Data: Provided through the Sierra Chart Historical Daily Data service.
  • Historical BidVolume and AskVolume: Yes. Accurate.
  • Live Trading Services: Yes.
  • Simulated Trading: Yes.
  • Order Types Supported: All.
  • Server Managed OCO (Order Cancels Order): Yes.
  • Server Managed Bracket Orders: Yes.
  • Automated Trading (applies to Live or Simulated): Yes.

Setup Instructions

  1. This service supports live trading only. There is a separate service for simulated trading which will be documented soon. However, for simulated trading, in order to take advantage of the lower-priced CME exchange fees, requires that you still have a live trading account anyway.
  2. To be able to use this service, you need to have a live trading account with one of the following clearing firms:
    • ABN AMRO Clearing
    • ADM Investor Services
    • Advantage Futures
    • AMP Global Clearing
    • Aarna Capital
    • Bank of America Merrill Lynch
    • Berkeley Futures
    • BNP Paribas
    • Citigroup
    • Credit Suisse
    • Dorman Trading
    • ED&F Man Capital Markets
    • G. H. Financials
    • Genesis Proprietary Trading
    • INTL FCStone
    • J.P. Morgan Securities
    • KGI Securities
    • Macquarie Bank
    • Marex Spectron Pro Trader
    • MBF Clearing
    • Mizuho Securities USA LLC
    • Morgan Stanley
    • Nissan Securities
    • Phillip Capital Inc.
    • Quantitative Brokers
    • RJ O'Brien
    • Rosenthal Collins Group (RCG)
    • Scotia Capital
    • sino AG
    • Societe Generale
    • Straits Financial
    • UBS
    • UOB Bullion & Futures
    • Wedbush
    • Xconnect Trading Limited
  3. Fill out the form below for us to request your clearing firm to share your trading account to the Sierra Chart company TT FIX connection for order routing. All fields are required.

    (form fields: name, trading account number, clearing firm name (drop-down list))
  4. Once the clearing firm tells Sierra Chart that your trading account has been shared to our order routing connection with TT, then we assign it to your Sierra Chart account. At that time you will see it listed on your Account Control Panel.

    You have the ability to remove the trading account anytime through your Account Control Panel, by clicking the Disable button beside the trading account name/number.
  5. At this point do not continue with the remaining steps until you hear from us indicating that your trading account has been assigned to your Sierra Chart account.
  6. Once the above procedure is fully complete and your trading account has been assigned to Sierra Chart, then continue with the remaining steps.
  7. Follow the Sierra Chart Exchange Data Feed Set up Instructions to activate and pay for the Sierra Chart Exchange Data feed for market data. You will need to activate the exchanges that you require. In the case of CME data, normally you will be activating one of the CME Group exchanges.

    If you need help with this step, start an Account Support Ticket and we will get this set up for you but you are still responsible for adding the necessary funds to your account and completing the market data agreement.
  8. Update Sierra Chart to version 1875 or higher. Refer to the Fast Update instructions.
  9. Select Global Settings >> Data/Trade Service Settings.
  10. Set the Service to SC Futures Order Routing/Data.
  11. Press OK.
  12. Order fills for orders submitted through Sierra Chart, have a .10 USD per contract fee. It is necessary for your Services Balance to have at least 25 USD on it to be able to use this service to cover the cost of the fees. Go to the Add Services Balance Credit page to add credit as necessary.
  13. Connect to the data and trading servers by selecting File >> Connect to Data Feed on the menu.
  14. If there is any connection error, it will be displayed in the Sierra Chart Window >> Message Log. You will not be able to connect to the service, until your trading account with the clearing firm has been assigned to the Sierra Chart TT FIX order routing connection and you have a 25 USD balance or higher. Select File >> Disconnect to prevent further connection attempts if there is an error connecting. Select File >> Connect to Data Feed, to try connecting again.
  15. If you want to use server-side OCO and bracket orders, then enable Global Settings >> General Trade Settings >> Use Server-Side OCO Orders and Use Server-side Bracket Orders.
  16. To open a Historical chart, Intraday chart or Trading DOM, select File >> Find Symbol on the menu. Select a symbol in the Futures list and press the appropriate button.
  17. Continue with step number 3 on the Getting Started documentation page.

As a firm policy a trading account will only be assigned to your Sierra Chart account, upon instructions from the clearing firm. We cannot accept these instructions from other than authenticated communication from the clearing firm itself. We will not accept these instructions from a broker either. And it is only your clearing firm, which has the ability to share or remove the share of your trading account to the Sierra Chart company FIX connection.

Symbols

The available symbols are listed in File >> Find Symbol. If a market you want to trade there is not listed, let us know.

Spreads

Select File >> Find Symbol >> Futures.

Select the top level of a particular futures market and then press the Get Spreads button to get a list of the available spread contracts. This is only only supported for CME symbols at this time.

Options

Select File >> Find Symbol >> Futures.

Select a particular futures contract for a particular month and year. For a particular given market, any contract month is fine since all option symbols will be returned. Press the Get Options button to get a list of the available option contracts. This is only only supported for CME symbols at this time.

Frequently Asked Questions

How Does It Work?

Sierra Chart maintains two high-performance secure servers which route orders over our Trading Technologies FIX connections. There are two servers for redundancy. You can choose what server you want to use. We intend to also add a server in Europe as well and any other strategic geographical locations as needed.

A trading account that your clearing firm creates, then needs to be shared to our FIX connection and your trading account then needs to be assigned to your Sierra Chart account. This then provides fully secure access for you to trade your account through Sierra Chart.

Is There Position Reporting and is it Accurate

Yes, there is accurate Position Quantity reporting.

Why Do You Charge Per Contract For Order Routing?

Sierra Chart maintains direct FIX connections to Trading Technologies where we are responsible for the per contract order routing fees. The cost for order routing is .10 USD per contract per side.

This is deducted from your Sierra Chart account for each transaction. You will not be billed for order routing through your clearing firm since they are not billed from TT for orders routed through our own connection to TT.

You would only be paying for commissions and the and the fees exchanges charge per contract to your clearing firm.

Can Other Programs Use the Trading Connection and Data Feed?

Yes, they can use the easy to use DTC Protocol and connect to the DTC Server in Sierra Chart. We also expect at some point in the future a direct connection to the servers to be supported.

Can I have the Billing Done Through my Brokerage Account?

Yes, if the clearing firm is willing to do this. In this case, Sierra Chart will invoice the clearing firm for the services provided.

Is it Secure?

Yes, it is secure for the following reasons. Order routing is through secure servers over encrypted connections. The FIX connections to TT are encrypted.

Sierra Chart does not store user passwords on our systems. They are one way encrypted. Although there is still further development work we need to do to fully complete this. This is expected to be completed by the end of February 2019. The Sierra Chart desktop program which connects to your trading account also can be set to not save the password and uses a secure connection to the trading server.

At some point we will add a second layer of optional security like perhaps two factor authentication.


*Last modified Saturday, 16th February, 2019.