Internet may be down. Because I do not only loose position, but also execution information at reset time, I may not be able to recover trading ifnormation once I have internet again. This IS a problem. Rithmicf or example neither looses position NOR do they delete executions and orders end of the day, so when interent is back up you can ask for a list of all executions and sync. TT does not. If I have limit on close orders, and I loose internet in the relevant time, I can not get the correct position, nor execution information, after the roll (to my knowledge). This means calling help desk, getting the info and manually putting it into the local tracking, which may or may not work (not works mostly on typical end user front ends).
1 - Most people that use TT aren't connecting remotely so that would never come into play. 2 - Sign up with the Globex GCC and you will be able to contact them for open positions / executions / working orders.
Can you elaborate both the above points a bit. Thanks. I am asking what do you mean that most TT users don't connect remotely. Say you are trading with Deep Discount and using TT feed to trade (as the Londonkid is planning to do), and you do lose internet connection for couple of hours (storm etc.), then this problem will arise. No? Am I missing anything here?? What is Globex GCC ?
By remotely I mean over the internet. If you were to be trading from your clearing firms trading floor you would be directly connected to their gateways. If you loose connection you will still have your fills saved regardless of how you are connected if it is back up before the trading day is over. Here is info on the GCC http://www.cmegroup.com/globex/trading-cme-group-products/gcc-support.html
Hi, Do you have to pay a monthly fee for using GCC services. Can't find it on website. Also if you are a user, how often do you use it and what for. This info would be useful (I read through the website but its better to get direct feedback from a user). Thanks.
There is no additional fee for the service, but you clearing firm has to give you permission to sign up. (They fill out the forms) I have called them a few times. Once was to get execution times for 2 orders so I could compare it with the execution time the TT fill window was providing me. A couple of times was when my clearing firms was having problems with their fill server (this it what saves all you fills for the day and calculate your position) and they confirmed my current open positions for my account. You can also call them up and have them cancel orders for you but I have never had to do this but it is nice knowing that is available to me.
FroggerMan, Thanks for sharing your experiences. Appreciated. May I ask who do you clear with? Thanks. Till now, I have been trading with IB and have recently started thinking of moving my business to a clearing firm through an introducing broker, primarily to save commission dollars. While trading with IB, I have used everything that IB provides like software (TWS), data, execution, clearing etc. Now, moving to the unbundled world, there are so many choices that I am trying to learn from others experiences so that I don't get caught not knowing a lot of things - like quirks with overnight position tracking with TT feed. I hope Londonkid doesn't mind that discussion in this forum is taking a bit of tangential turn.