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Ninja -- Best approach >> Best Data-feed?
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Ninja -- Best approach >> Best Data-feed?

  #31 (permalink)
Denver, CO
Trading Experience: Advanced
Platform: NinjaTrader
Broker/Data: NinjaTrader Brokerage
Favorite Futures: ES
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TrendTraderBH View Post
NT basically has one broker partner per data feed company. For example, if you want CQG you pretty much must go with AMP, if you want Rithmic Optimus, if you want ZenFire Mirus, etc.

The statement above is misleading, the following is accurate:
  • CQG is availabe through AMP Global Clearing (FCM) and any of it's introducing brokers
  • CQG is also availabe through Broco Company in Russia
  • Zen-Fire is available through Dorman Trading (FCM) and RCG (FCM) through limited Introducing Brokers which include Mirus Futures and 30+ other Introducing Brokers
  • Rithmic is available through Vision Financial Markets (FCM) and any of it's Introducing Brokers including but not limited to Optimus

TT and Patsystems are available through many FCM's across the globe and their network of Introducing Brokers.

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  #32 (permalink)
Elite Member
Detroit, Michigan
Trading Experience: Beginner
Platform: Ninja Trader
Favorite Futures: Futures
Posts: 296 since Nov 2011
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I suggest anyone to do the research first and make your own decision.

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  #33 (permalink)
Elite Member
New York, NY
Trading Experience: Intermediate
Platform: Sierra Chart, thinkorswim
Broker/Data: Amp-Rithmic/TT, IB
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TrendTraderBH View Post
Also, all data feeds are not equal in relation to NT future development, as future planned NT features seem to be only targeted to one preferred data feed (which also means one preferred broker).

Which preferred data feed is that, and what features would those be?

Also, was your statement actually misleading as NT said above, or you do you still think NT is restrictive in the options it allows for you to freely select a broker/feed of your choosing?

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  #34 (permalink)
Elite Member
Detroit, Michigan
Trading Experience: Beginner
Platform: Ninja Trader
Favorite Futures: Futures
Posts: 296 since Nov 2011
Thanks: 388 given, 282 received

It's my understand that a new feature of NT orders residing on the brokers server or exchange server (instead of your computer) will be offered for CQG but not other feeds and for all intensive purposes that means AMP or Global (AMP IB) as your broker choices.

From my experience each data feed typically matches with one preferred FCM which is great if you like the broker.

However, some brokers get left out in the cold with this approach (are aligned with a less than ideal data feed).

These comments are just my own opinions from the research I did - please do your own due diligence and find out for yourself.

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  #35 (permalink)
Boca Raton
Trading Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
Favorite Futures: Futures
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TrendTraderBH View Post
I did not realize this prior to purchasing an NT license:

NT basically has one broker partner per data feed company. For example, if you want CQG you pretty much must go with AMP, if you want Rithmic Optimus, if you want ZenFire Mirus, etc.

NT claims this is a result of various partnership agreements with brokers/clearing firms and once the technology integration has been done it basically closes off that data feed to others (with some limited exceptions). My understand is that this generally goes against industry standard practices of other charting software providers.

what happens in reality is that each FCM has the exclusivity to the data feed and not the IB. However, it is rather the efforts of the IB or the FCM to advertise it's efforts with a certain feed that gets the association. We have made the effort to integrate Rithmic to our platforms because we feel it's quality, operations and the effort they make to help our team.

Also, each feed has it's own "risk system" which is essentially the backend that brokers must get familiarized in order to assist customers. As NinjaTrader mentioned, we do not have exclusivity to Rithmic, but I feel that we have made more efforts than many IBs to become familiar with Rithmic from day one and its backend operation.

As an IB, I can go and clear my business elsewhere and get multiple feeds going. So essentially it is not NinjaTrader that is limiting me rather it's a personal choice to stick with Rithmic as an IB. I feel that some FCMs are a complete competition to their IBs, as they have become massive advertisers in that space but that requires a whole different discussion.

I have to give NinjaTrader credit where they come forward and offer many feeds so customers could have a personal choice. It is not easy to just "Plug" a data feed because it is costly process in terms of dollars and man hours. So if you feel that some have exclusivity as an FCM it's because they have put the effort in terms of dollars to pay for the development time in one way or another. If I had hypothetically the best feed feed in the world, I would demand that I would have the exclusivity to it to grab market share as an FCM or as an IB.

I disagree with many things that happen in the retail space with platforms, but after all it's a business and I need to remain empathetic towards my technology partners like NinjaTrader. It took me years to develop an objective view, and realize that its hard to joggle so many variables at the same time.

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
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