Support Board
Date/Time: Sun, 24 Nov 2024 09:03:22 +0000
Post From: SIERRA DIREcT MKT ACCESS execution questions answers ideas
| [2021-07-25 20:25:22] |
| User220914 - Posts: 239 |
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Hello, I am eagerly anticipating your direct market access execution and i had a couple of questions. 1. will the new set up allow contingent orders such as LIMIT if TOUCHED or Market if touched to be kept "SERVER SIDE" obviously on your ultra fast servers which as you said will be colocated versus the current set up which is "Client side" sent from my own computer once prices reach me? I would hope this is going to be the new set up. 2. with this new execution direct access will you be able to add negative offsets also instead of just the current positve ones? this is vital to some strategies and I was told before that this would not be implemented but seeign that you know are building this and have control i would hope that you would allow a negative offset as well as a positive one from most orders on your server. Cqg and TT both allow these type of orders in their execution platforms. 3. Obviously there are millions of things that can go wrong with an execution program especially when there are semi algo or semi automatic trades being done in real time. I understand that sierrra chart is building a robust product that will be faast but I also hope that sierra is taking into serious consideration that companies lie cqg and TT who have been executing for 10+ years for multiple FCMs and clients from retail to institutional still have massvie problems at times and that in very fast markets or when a customer has an algo error or has figured out a way to exploit your system that people can and will try and take advantage of it. My point being that yes speed is very important .. extrememly but even more important is for the execution platform to look at the overall risk as a whole especially the UNKNOWN ones. I personally do not understand the exact internal workings of how the execution platforms operate with one another but i do know that they have all had MASSIVE MASSIVE outages and errors on them over the years and it would be very very unfortuante for sierra to overlook the massive risks invovled when chaos hits the market and or someone algo is sending massive orders somehow due to a bug and you end up with a KNIGHT losing 400 million in an hour situation. I think it is often understated lately that yes speed is important but understanding that many traders who will use this system want to be assured that no one or 2 entities with an errant algo could bring down the whole ship! i hope this is the case. because no one thought this was the case at Knight or any of the others including IB with crude oil and CQG and TT when trades were being places at double the actual qtys. which also happened at gain financial. Anyway i want to sink my trades into your system as soon possible and hopefully all contingent orders will be server side and allow negative offsets! thank you for your hard work and great products. |