Rithmic API and API+ differences and cost

Futures Trading Platforms Rithmic Trader (R | Trader) and RAPI
1

I see Rithmic API+ is 20 bucks (same min for Rtrader Pro) whereas i think the actual API is $100 min for month. Whats the difference?

Few scenarios:

  1. Would like to place orders through the Rithmic API
  2. If this feeds Sierra, can i use Rithmic API+ to place orders
  3. What about recording bid/ask prices and bid/ask volume or size directly (i can have Sierra record it and then retrieve and load it) but can i record this info using a) Rithmic API+ or b) Need the full API and still can i record it
  4. Are there any obvious advantages compared to TT and CQG other than cost (for TT you need the Pro license and for CQG, they charge more than a 100 as well)
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2

Hi @jokertrader, The API for Rithmic could be used in two instances. One instance is where we hook you up to platforms such as Sierrchart, Multicharts, Optimus Flow, etc. This is where you have to pay the $20 per month API. The cost of execution of this will range from 10 cents to 25 cents per side.

The other way to hook you up is through your own device that you have programmed and use for execution. This is where the $100 minimum applies, and the10 cents execution applies as well. This is mainly used by those who have created their own execution device and are capable of programming.

I will let @Mod-JakeM answer the rest.

Thanks,
Matt Z
Optimus Futures

There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.

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Hi @jokertrader,

Thanks for your patience regarding your question. As a follow up to Matt’s previous response, I have reached out to Rithmic’s API Support team in regards to the questions you had.

According to Rithmic API support (specifically addressing your 3rd question):

"There are a number of trading applications which use RAPI+. Whether one can record data using these apps we don’t know. One would have to ask the app vendor directly to find out whether their app supports the functionality.

I don’t know what market data license agreements might apply, so I can’t comment on that area, but technically, it is possible to write a program which records market data with RAPI+."

Based off Rithmic’s response, it seems that this type of feature would need to be done on the platform side of things, not the API. So I would recommend sticking with how you have been doing it previously, having Sierra Chart record, retrieve, and load various prices and volume sizes.

In terms of advantages over one another, it is truly hard for us to determine this as we do not take an biases with our data providers or platform vendors. Each have their pros and cons, but I would not say one data feed or it’s API has any obvious advantage over the other. One of the major things to consider are the data feeds that your front end platform can accept. Another thing to consider is market depth and historical data. Rithmic contains all levels of market depth for the entire Globex and also supports continuous contracts dating back to the creation of each instrument on the CME. On the other hand, CQG is limited to 10 levels of depth and does not the historical data that Rithmic does.

I hope you found these responses helpful!

Let us know if you have any further questions,
Jake
Optimus Futures Support :optimus_logo_no_backroug:

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4

I have MultiCharts and am using it with TS data now. What Rithmic product would be best for me to use, I am kinda confused on all the product choices. I am only interested in CME futures specifically the ES. But I would like to plot NYSE indices.

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5

You need the Rithmic 01. This is the “regular” API for execution for retail traders.
Please let me know if this addresses your question.

If you are looking just for the simulation mode (not production) choose Rithmic-Sim.

Let me know if this helps.

Best,
Matt Z
Optimus Futures

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6

so the fees paid per trade do they cover data cost or is that extra?

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7

CME data fees will apply regardless of the execution vendor.

8

so rithmic is providing me with data and a means to connect to the broker. for that i pay them a round turn fee.

the exchange data feed is paid to rithmic and the per rt fee.

the broker gets the commissions.

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9

Rithmic is connecting you to the exchange through your choice of FCM.
RT fee charged per transaction and brokers charges commissions.

10

thank you for all the info hate to bother you but i can not find rithmic 01 can you give me a link possibly.

m

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No worries. Glad to help.
01 is for production only (real-time live data with the ability to execute live trades).
You need Rithmic Sim which you can get here: MultiCharts Free Demo | Futures Trading Platform | Optimus Futures
Should give you two weeks, provided you did not use it before with another broker.

12

thank you - but i own two multicharts platforms already. i just need the feed?

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13

The direct question is this: Do you need data only for display or you are looking for a broker to execute with Rithmic?

14

i want to first set it up and use it and if it works well then execute somewhere. very small experimental on micros at first cause it’s automated. then i can leverage up to quite a few contracts if it’s stable. i have to get another internet feed in here for auto failover and figure out what i’m going to do if it all goes black.

i worked for a fund for 10 years and one day when even the emergency generator and both power grids that the building was on went out. everyone looked at each other and realized the 100 banks of phone we used for all those years on speed dial none of us knew the numbers. from then on we had microfilm cards with all the numbers on it.

15

Yes, it would be best if you always had your broker and FCM trade desk number available.
Ok, it sounds like you want to establish an account, but see how the demo Rithmic would work on your Multicharts. I would still encourage you to register here MultiCharts Free Demo | Futures Trading Platform | Optimus Futures to receive the credentials for Rithmic and get a two-week trial. You can always reach out to support, and they will guide you on how to place the demo credentials in the platform.

If you want to establish an account, you could use this link:
Open a Futures Trading Account | Optimus Futures If you wish to discuss things over the phone, I would be more than happy to assist.

Matt Z
Optimus Futures

There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.

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