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Alert! CQG Issue, Many Brokers


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Alert! CQG Issue, Many Brokers

  #1 (permalink)
 
bobwest's Avatar
 bobwest 
Western Florida
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Experience: Advanced
Platform: Sierra Chart
Trading: ES, YM
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Duration: Minutes
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If you have not been notified by your broker, CQG is having technical issues 6/21/21 with margin calculations and if your trade routing firm is CQG you should not trade until resolved.

I received these email messages this morning:

-----------------------------------

DO NOT Trade in these Technical Conditions (read below).

Per the issues described below....if you place a trade, you may not be able to Close it. CQG is only refreshing the accounts every 10 minutes....and during this 10 minutes, you may want to close your position and get rejected due to this CQG Margin Calculation Issue.


You would then need to contact us...to manually Close your position.

During this time, you will be at the mercy of the market movement - until we can confirm your position is FLAT.



IT IS NOT WORTH IT!!! Please do not trade until CQG confirms this issue is resolved.

If you decide you must place a trade, you are 100% responsible for any PnL.

We will be increasing margins to 100% Exchange until CQG issue is resolved.

--------------------------------

CQG is reporting a Margin Calculation Issue across all FCMs/Brokers.

This CQG issue is where previously working or filled orders may contribute to margin calculations on new orders, leading to an incorrect margin calculation, thus causing rejection of order due to insufficient margin (because it is still calculating margin requirement for old orders/positions).

We recommend you do NOT place any new orders until this issue is resolved by CQG.

---------------------------------

Be careful and sit on hands if you use CQG, or contact your broker.

Bob.

When one door closes, another opens.
-- Cervantes, Don Quixote
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  #2 (permalink)
 
Daytrader999's Avatar
 Daytrader999 
Ilsede, Germany
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Experience: Advanced
Platform: NinjaTrader 8
Broker: Rithmic / CQG / Ninja Trader Brokerage
Trading: NQ
Posts: 1,525 since Sep 2011
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With regards to Ninja Trader, the CQG issue seems to be resolved now:


CQG Issue Resolved

The issue previously reported related to margin calculation errors by CQG has been resolved and you are now clear to trade.

If you have a "stuck" order in your trading platform and are unable to cancel, please contact us at [email protected] with the applicable details (buy or sell, # of contracts, etc). As a reminder, never take any action on orders or positions you feel may be incorrect.

For any other inquiries, please contact us at [email protected].

Thanks for your patience as CQG resolved this technical issue.

"If you don't design your own life plan, chances are you'll fall into someone else's plan. And guess what they have planned for you? Not much." - Jim Rohn
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  #3 (permalink)
 
bobwest's Avatar
 bobwest 
Western Florida
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Experience: Advanced
Platform: Sierra Chart
Trading: ES, YM
Frequency: Several times daily
Duration: Minutes
Posts: 8,162 since Jan 2013
Thanks Given: 57,343
Thanks Received: 26,267


Yep, just saw the all-clear:

"CQG has sent out the following notice:

"** We have identified the issue and deployed a temporary fix to all servers. The full fix will be deployed this evening during maintenance."

------------------------------

Not as big a deal as it looked at first.

Bob.

When one door closes, another opens.
-- Cervantes, Don Quixote
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  #4 (permalink)
 
80grit's Avatar
 80grit 
Carmel, IN/USA
 
Experience: Beginner
Platform: Jigsaw, Tradovate
Broker: NinjaTrader Brokerage, Tradovate
Trading: ES, RTY
Posts: 6 since Aug 2020
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Thanks Received: 9

Hi. I am curious as to how people handled the CQG problem yesterday? My brokers all said to stay out of the market if I used CQG, so I did. And on the ES I sat out over a 100 point move up, before CQG gave the all clear. On Ninja and tradovate there are no other choices for routing. So what did you do?

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  #5 (permalink)
lightsun47
Toronto, Canada
 
Posts: 357 since May 2018
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Is the problem fixed permanently or not yet?

Sent using the NexusFi mobile app

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  #6 (permalink)
 
Daytrader999's Avatar
 Daytrader999 
Ilsede, Germany
Site Moderator
 
Experience: Advanced
Platform: NinjaTrader 8
Broker: Rithmic / CQG / Ninja Trader Brokerage
Trading: NQ
Posts: 1,525 since Sep 2011
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lightsun47 View Post
Is the problem fixed permanently or not yet?

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I haven't heard anything contrary from any broker using CQG yet, so the problem should be fixed now.

"If you don't design your own life plan, chances are you'll fall into someone else's plan. And guess what they have planned for you? Not much." - Jim Rohn
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  #7 (permalink)
cmtn0113
Providence RI
 
Posts: 20 since Apr 2021
Thanks Given: 3
Thanks Received: 9

I use ninjatrader 8 with CQG and did not receive that message. Good luck!

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Last Updated on June 22, 2021


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