Strange because CQG claims they have "server side" execution. I would think that the entire idea of "server side" execution (of brackets/OCOs) means that once the orders and their parameters (brackets/OCOs) are placed they reside on data provider's servers and will work regardless of whether the trader is logged on or not. Otherwise it would be "client side" execution. But I sent an inquiry to Rithmic so we shall see what they say.
I honestly don't know how they define "server side execution". If I transact on the CME, my execution in on their order book and nowhere else. A server side conditional order or pairs/spread trader means they have a server set up between the CME and your desktop/hosted software that directs the orders when conditions are meet. This is much better for you, as if you have connection issues, you feel protected and it will often reduce latency, assuming their server is hosted. However, this increases their cost and liability. Even though you sign away their liability with the terms of service, when their server goes down, thousands of clients are affected. The reality is that since ALL orders have to undergo risk and or margin checks so have to go through some type of server, so I guess they can all claim they have server side execution.
Robert, for clarity purposes: "server side" always refers to whoever routes your trades. The opposite is "client side". And "server side" execution doesn't apply to entry limit orders, obviously these always end up on the exchange's book right away. But all other trade orders and their parameters (i.e. profit target/stop loss) should be on their servers to get activated in micro or milliseconds upon original fill or whatever the conditions are filled (i.e. enter market on touch). As said before, I always thought that if trade routing offers "server side" held orders then it doesn't matter whether I stay logged on or not. So once you place your original order you know you are covered with SL/TP even if your connection goes down. But you really made me wonder about that since CQG (I don't use them) from what I know offers "server side orders" yet you say that upon log off you lose that functionality. Something doesn't gel here. If it wasn't for the fact that we have a weekend now, I would simply log on to Ritmic and place bracket order, then log off and log back in to see if all parameters are still in there. I will check on that tomorrow. Also, once I get the reply from Rithmic I will share it here.
http://www3.rithmic.com/?page_id=9 Additionally, R | API+™ provides access to R | Trade Execution Platform’s™ symbol lookups and server side features: trailing stops, brackets and OCOs, custom time, tick, volume and price range bars.
it is Sunday morning in US yet Rithmic's support replied quickly what a service! Here's what they say:
"I personally like one of the completely Free platforms my broker offered me called E-Futures International. It does indeed have server-side execution. It also has great charting with all of the major indicators and the support of my brokerage in use of the platform I’ve found to be exemplary."
I found out last night on a Webinar done by RealTick, that all their conditional orders are server side.
Since e-futures is owned by Wedbush Futures, and they don't have their own software, they White labeled another 3 rd party. Do you know what that company is?
Just my 2 cents to add to this: Not all bracket orders are server side automatically. The use of the API depends on the third party software as well. For example, Rithmic over R-Trader Pro utilizes Bracket Server Side OCO, however the use of the API over a different platform may generate OCO, but not bracket server side OCO. It is best to know how the API (data feed) works with the software you are utilizing.