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SC Direct Order Routing


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SC Direct Order Routing

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  #1 (permalink)
 LDog 
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Time to start checking out Advantage Futures :-)

Well at this point it is safe to say that Advantage Futures will be the first firm to be supporting the new direct CME order routing.

I'm curious what everyone's thought is on SC's direction with this?

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 bobwest 
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LDog View Post
Time to start checking out Advantage Futures :-)

Well at this point it is safe to say that Advantage Futures will be the first firm to be supporting the new direct CME order routing.

I'm curious what everyone's thought is on SC's direction with this?

Curious and interested. SC is both technically proficient (very) and inclined to go off about others' deficiencies excessively (also very, in my opinion.) So I haven't been totally sure what to think about their many complaints about Rithmic and CQG over the years. But I also have been very interested in what they would come up with, thinking it might well be in fact better.

So I'm on the sidelines, but an interested observer.

Bob.

When one door closes, another opens.
-- Cervantes, Don Quixote
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  #3 (permalink)
 LDog 
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bobwest View Post
Curious and interested. SC is both technically proficient (very) and inclined to go off about others' deficiencies excessively (also very, in my opinion.) So I haven't been totally sure what to think about their many complaints about Rithmic and CQG over the years. But I also have been very interested in what they would come up with, thinking it might well be in fact better.

So I'm on the sidelines, but an interested observer.

Bob.

I agree 100% - we'll see how it goes, but I'm hopeful!

Right now, I only trade live occasionally but that will be picking up in the next year and I've been VERY worried my current broker so a change ahead of this may not hurt .
I've stayed with them this long cause of the low rates (SC WAS free, now not, and no 'live trade' minimum so I can stay Simming/Slumming as long as I want )

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  #4 (permalink)
 SMCJB 
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Know nothing about SC but have been with Advantage for over 15 years and always been impressed.

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 snax 
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I have been looking forward to this as well. Hoping @EdgeClear might be supporting this in the future as well?


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  #6 (permalink)
 LonnieMSP 
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anyone else notice the updated to Sierra Chart? The latest update has support for direct routing. This is great news.

https://www.sierrachart.com/index.php?page=doc/Whats_New.php

SierraChart2308

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 bobwest 
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LonnieMSP View Post
anyone else notice the updated to Sierra Chart? The latest update has support for direct routing. This is great news.

https://www.sierrachart.com/index.php?page=doc/Whats_New.php

SierraChart2308

It is indeed great news. But I noted the following in the release notes: "We expect this service to become available for users to use, towards the end of September or the beginning of October 2021."

As someone who has released a lot of software, every single one of which was either late or very late compared to the initial estimates, I'm going to wait for it.

But yes, progress is good, and this is good news.

Bob.

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  #8 (permalink)
 tomgilb 
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This is the sticky thread on the Sierra forum that has the latest info on the progress of their direct order routing:
https://www.sierrachart.com/SupportBoard.php?ThreadID=61280

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  #9 (permalink)
 bobwest 
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tomgilb View Post
This is the sticky thread on the Sierra forum that has the latest info on the progress of their direct order routing:
https://www.sierrachart.com/SupportBoard.php?ThreadID=61280

Thanks a lot @tomgilb for this link. I just finished walking through it from the beginning (a very long walk), and it is looking good:


Quoting 
We have completed our testing of the direct CME routing on the Live iLink session. All tests have passed successfully.

The risk management works very well. There is proper calculation of the required margin, and the maximum potential position quantity which has proper consideration of orders that reduce risk, and orders in OCO groups. So this means that orders to close out positions that get normally rejected on systems like CQG and Transact, and other systems, will not get rejected with the Sierra Chart direct CME routing.

At this point we are going to do some trades held across the CME maintenance time from 5 PM to 6 PM US Eastern time. We are going to be testing the functionality to synchronize with the clearing firm account balances and positions files.

We expect the service will become available in October 2021 for general use. And at that time we will describe what clearing firms, and what introducing brokers are supporting it.

( https://www.sierrachart.com/SupportBoard.php?PostID=278018 ) Note the date of the post is 9/12/21.

As always, I will be a slow adopter, so others can be the ones to discover and help get the bugs out. ( ) There will be bugs, and that is not a negative reflection on Sierra Chart. It's just a reality of software creation. But this is extremely encouraging. They look to have moved along very nicely.

Bob.

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-- Cervantes, Don Quixote
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 josh 
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What exactly is the advantage of SC using CME direct order routing? Is it that they aren't going through a FIX gateway (they currently route through TT?) like they currently are, and thus will have lower latency, presumably better reliability, etc.? I know they make good software, but I've read that thread, and I'm not too keen on being a beta tester Besides, it won't work for me as I use CQG and need more than CME markets (OSE, which SC has emphatically said they'll never support).

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