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Sierrachart and Trading Technology TT Connectivity


#1

@Mod-MattZ What do you think about the new Sierrachart and TT connection? https://www.sierrachart.com/index.php?page=doc/SierraChartOrderRoutingServiceWithData.php


#2

I have come to know Anthony from Sierrachart a stickler for details and high standards when it comes to making his software highly stable for futures execution.

In essence, every customer who wants to switch to TT, I will be supportive. Personally, at this point, I always wait for the “enthusiasts” to try it out first, and see how things progress and whether any bugs were created that need to be addressed. This is the difference between going from model to production.

At the moment, we connect Sierrachart to CTS/CQG/OEC/RITHMIC and I can tell you that each one of them (and according to the FCM they are placed with) carries specific advantages. I can not support just one feed, rather I have to take each individual trader into consideration and advice them accordingly.

This is my general view about futures trading software:
I am not a developer, programmer, or engineer. However, I do appreciate the development of software, it’s challenges and the ongoing process to improve it. Nevertheless, I must take into consideration a process that works and proved to work rather than experiment with each turn the software companies advice. Again, I rather wait, because, at the end of the day, your real P&L is on our books, not the software company.

Traders are often in the chase of “the best” and often could drop a working process in favor of another because they feel they are missing out, or just because they listen to whoever they consider an authority. My Job as their broker is present with my objective view and respect their individual choices when it comes to execution and technology.

Thanks,
Matt Z
Optimus Futures
www.optimusfutures.com


#3

It’s $0.10 USD per side per contract which SierraChart is saying will need to be paid from a SierraChart user’s account unless the clearing firm does direct billing to the customer. This deal seems to be the same as they first developed with CTS (which I am still using). Wedbush direct bills me the $0.10 per side for the CTS connection. I see it on my statements. Would Wedbush also direct bill for this TT connection or is it too early for them to have decided that?


#4

Hi @simtrader, good to hear from you!
As far as billing, I am sure we can arrange it through the clearing firm. As long as it gets to TT in a timely fashion, I don’t think they care. However, I am not sure which FCMs know how to connect SC to the TT API, and whether they have created the right codes for billing. The FCMs that Sierrachart listed all have the TT Platform and clear some of them, but I don’t know which one has the details to hook up TT to Sierra.

When we have our first customer on TT, I could get you more details.

As you recall, you went through quite a lot when you hooked up CTS, and if this solution works, I will stick with it. Unfortunately, for many, we had to resort to Sierrachart fir help, and Anthony from Sierra did take the time to help customers individually.

You specifically were very instrumental in helping us set it up as well, and your patience was very appreciated.
Since you are a technical guy and have an affinity for small details, I would appreciate it if you tell us here the advantages of TT over other data feed from your perspective.

As you know, we at Optimus Futures create a very procedural onboarding for every data feed, and if we have demand for this product, we will build it. We went above and beyond for CTS connectivity for Sierrachart, and despite all the merits, we had very little demand for it. Since our time is valuable, I will see what is the market for it before we create any material. But, Whoever wants the TT connection, we will always help them get it set up for them. Our customer’s needs come first.

Thank you,
Matt Z
Optimus Futures
www.optimusfutures.com


#5

It was a bit of a pain to set up the CTS connection in the beginning. But Wedbush were pretty cool about it. As I recall they got confused but gave me the direct number to call the right person in CTS who walked me through it.

Once it was set up, I never had to think about it again. My issue is that I really like Sierrachart as a charting and DOM platform and I won’t consider any solution that doesn’t use SierraChart’s own datafeed. Life is too short.

The feed is fast. It works. And I never have to worry about it. The feed was designed to work with the platform which is why I use it. That is a non-negotiable issue for me i.e. SC + SC datafeed. From there, I want reliable connection at a good price. And $0.10 per side is good.

CTS (the same price) has been great BUT I have noticed - on a number of occasions - problems with OCOs on multiple contract trades. The very thing that the solution was meant to solve vis a vis the regular CTS4 connection hasn’t truly been solved in my experience. It doesn’t happen all the time but it’s happened enough of the time. For example, suppose I have a 5-lot initiating trade in CL set to trigger a bracketed OCO stop-loss and profit target. I’ve seen times when the stop-loss is only 3 contracts. In a fast moving market I have to watch for this very carefully. I cannot trust that it will work perfectly. Why does it happen? I don’t know. Maybe the market filled 3 contracts first and then two contracts but the OCO didn’t adjust correctly. Whatever is the reason I don’t have time or energy to figure it out. It’s not that frequent but it does happen which is is why I’m an early bird inquirer as to the TT solution - which is the same price as the CTS solution that Sierra walked away from due to lack of take up. I don’t read that much into the lack of take-up. To me, that’s just marketing dollars or the lack of it.

Since I can’t say I’m 100% satisfied with what Sierra did with CTS, I am thus curious about them basically trying the same thing with TT. If Sierra can make it work without glitches then I think it will be an ideal solution. I’m going to wait a little bit but if you hear anything from Wedbush about them supporting it, let me know!