This is supposed to be NGZ0-NGF1 spread but looks weird. (Because it moved one tick from -0.111 to -0.112, I think it should be $10 profit but it's $-20.) I am using AMP Futures+Rithmic+Motivewave. Is this real exchange supported spread? Am I supposed to change broker or platform which properly support exchange supported spread?
Is this real exchange supported spread?
- Thread starter heispark
- Start date
I think I figured this out. My understanding is the numbers shown above are totally inaccurate. I should trust only the numbers shown in my broker's daily statement. What a mess... My account balance was updated right before since I closed my positions over 24 hours ago! This is a drawback when I use separate broker+data+platform setup in futures trading. TDA or IB handle this better.
Trillions in notional value have been traded like this over decades. TDA and IB just do a better job of hiding what happens in the back office. Settlement procedures will have little bearing on your profitability.
It is probably still a practice where somebody at the exchange sets a Settlement price which may not be the same as the closing price. That would determine your MTM balances.
The key here is whether you are actually trading exchange listed spreads and being appropriately placed in the book of orders for that product. Otherwise, you could be trading in the back of the line waiting for b/a's to cross becuase the exchange matching engine will clear the book first. Most spreads in IBKR are done this way. Access to all the possible exchange listed spread products are patchy at best. @bone might have a master list of those in his head.
Now, the platform is quoting on crossed B/A's causing funny calculations. It doesn't mean the trade was executed that way. Start making calls. Start with the platform and get a handle on their implementation, then compare notes between the data/routing service and broker.
Please tell us what you find.
It is probably still a practice where somebody at the exchange sets a Settlement price which may not be the same as the closing price. That would determine your MTM balances.
The key here is whether you are actually trading exchange listed spreads and being appropriately placed in the book of orders for that product. Otherwise, you could be trading in the back of the line waiting for b/a's to cross becuase the exchange matching engine will clear the book first. Most spreads in IBKR are done this way. Access to all the possible exchange listed spread products are patchy at best. @bone might have a master list of those in his head.
Now, the platform is quoting on crossed B/A's causing funny calculations. It doesn't mean the trade was executed that way. Start making calls. Start with the platform and get a handle on their implementation, then compare notes between the data/routing service and broker.
Please tell us what you find.