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CME Announcement: Mandatory Regulation?
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CME Announcement: Mandatory Regulation?

  #1 (permalink)
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CME Announcement: Mandatory Regulation?

Did everyone get the CME Announcement that came in on Ninjatrader 7.0 today? It said:

Dear NinjaTrader User:

As of June 3rd, 2011, the CME mandates that all vendors connecting into its systems submit the following information:
  • Application version information
  • Flag indicating if orders were generated manually or via an automated process
  • Country of origin
To ensure compliance, our brokerage technology partners will be updating their systems/API(s) which will impact downstream applications such as NinjaTrader forcing us to update NinjaTrader as well.

I wanted to know everyone's thoughts as I think this is kind of, well . . . very odd. Why do they care if it is automated or manually? Is there any particular reason why they have to record/ know the differences between which one the order may be?

I think the amount of information the CME, the gov't, banks, etc "FEEL" they have to collect is getting a little bit outrageous. Collecting this info has nothing to do with 9/11 or fraud or anything like that. I don't think institutional traders have to submit to this, so really, it is, once again, the "little guy" (so to speak) that has to adhere to the "pulling up of the skirt."

What are your thoughts, if any? Or is it just not a big deal for you?

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  #3 (permalink)
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. . . .Additionally . . . .


Just read this on the CME website:

CME Group will require each order to be tagged with the originating location of 1) the individual submitting the order, or 2) the automated trading system generating the order. The location should be identified in tag 142-SenderLocationID, as follows:
For a manually submitted order, the location should be the location of the individual submitting the order.
For an order generated from an ATS, the location should be the location of the person primarily controlling the ATS. For example, if a London based trader controls an ATS that is housed at the CMEG LNET facility, the location should be the ISO code for the United Kingdom.
ISO codes are located at ftp.cmegroup.com/fix/coo.
Note: U.S. and Canadian ISO codes include country and state or province. All other codes identify the country code.

ATS Indicator
CME Group considers any order generated without direct human interaction automated. Whether the order is submitted by manual or automated means is indicated by the value in tag 1028-ManualOrderIndicator (Y=manual, N=automated).

I guess this is for "tax collection purposes . . . what I am assuming.

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  #4 (permalink)
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nillz123 View Post
Did everyone get the CME Announcement that came in on Ninjatrader 7.0 today? It said:

Dear NinjaTrader User:


As of June 3rd, 2011, the CME mandates that all vendors connecting into its systems submit the following information:
  • Application version information
  • Flag indicating if orders were generated manually or via an automated process
  • Country of origin
To ensure compliance, our brokerage technology partners will be updating their systems/API(s) which will impact downstream applications such as NinjaTrader forcing us to update NinjaTrader as well.

I wanted to know everyone's thoughts as I think this is kind of, well . . . very odd. Why do they care if it is automated or manually? Is there any particular reason why they have to record/ know the differences between which one the order may be?

I think the amount of information the CME, the gov't, banks, etc "FEEL" they have to collect is getting a little bit outrageous. Collecting this info has nothing to do with 9/11 or fraud or anything like that. I don't think institutional traders have to submit to this, so really, it is, once again, the "little guy" (so to speak) that has to adhere to the "pulling up of the skirt."

What are your thoughts, if any? Or is it just not a big deal for you?

I created a thread on this very topic here (https://futures.io/platforms-indicators/8932-ninjatrader-advisory-cme-traders-please-read.html#post106448) and suggest that you use this thread for further discussion of this topic.

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  #5 (permalink)
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i would love to see that statistical data

maybe some small guys are taking away money from the big guys and they don't know how

i can always switch my trading platform to a bloomberg trading station :-)

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  #6 (permalink)
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When I first veered into the realm of Futures trading on another platform (not NT), I've always had the insight that the Exchange "un-transparently" knows when I enter the market with my orders (in a kinda ATM) and can always do (or actually doing) some "tweaking" on my orders. Now they want to do it on NT. I'm of the view that the Retailers are not just trading against the big players, they are trading against the "antics" of the Exchange. This may discourage me from going LIVE and even completely discard the idea of trading.

Lolu

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This has to do with the fees that CMEgroup charges its members. CME is making the argument that its best member rates are for individuals who make trading decisions strictly for themselves. High frequency trading is usually a group process involving traders, programmers, analysts, IT personnel, etc and therefore does not qualify for the individual rates, unless all the people involved have memberships. This explains why membership prices have started to rise. I'll post the document CME sent me when I get back to my other computer.

"You don't need a weatherman to know which way the wind blows..."
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jstnbrg View Post
This has to do with the fees that CMEgroup charges its members. CME is making the argument that its best member rates are for individuals who make trading decisions strictly for themselves. High frequency trading is usually a group process involving traders, programmers, analysts, IT personnel, etc and therefore does not qualify for the individual rates, unless all the people involved have memberships. This explains why membership prices have started to rise. I'll post the document CME sent me when I get back to my other computer.

Pdf attached.

"You don't need a weatherman to know which way the wind blows..."
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CME Announcement: Mandatory Regulation?-fpb-11-01-individual-members-cme-cbot-nymex-comex-march-2011.pdf  
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  #9 (permalink)
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so that's what they call a 'free' market right ?

somebody is losing their edge ?

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jstnbrg View Post
Pdf attached.

The CME Group should just suspend their Individual membership qualification until they can devise a method which does NOT involve at least divulging my Platform version, and trade flagging. Divulging my Platform type/version, and flagging my trades, encroaches on my trading rights (aka human/democratic rights).

Lolu

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