Rithmic Announces Nonrenewal of Zen-Fire Use
- Thread starter jjw
- Start date
There are plenty of IBs at RCG that can offer the backends available at RCG, though not all will because they do not all choose to service discount self-directed traders.
Presently, I don't believe that RCG offers Rithmic. They do offer Continuum and PATS. I don't think continuum provides historical data, but you should double-check that.
There's a mad dash to ally with Rithmic by FCMs that have/had a book of NT/ZenFire traders, though its not a simple process.
There are IBs that can hook you up right now with a Rithmic feed at an FCM with as good or better financials than RCG - FuturePath Trading, for example ... plus some of the others found in this forum.
Presently, I don't believe that RCG offers Rithmic. They do offer Continuum and PATS. I don't think continuum provides historical data, but you should double-check that.
There's a mad dash to ally with Rithmic by FCMs that have/had a book of NT/ZenFire traders, though its not a simple process.
There are IBs that can hook you up right now with a Rithmic feed at an FCM with as good or better financials than RCG - FuturePath Trading, for example ... plus some of the others found in this forum.
Apparently your info is more accurate (from the same person - go figure)
Great news! As you know this is a constantly evolving situation here is the new relationship:
"Ninja Trader has released Continuum Version Ninja 20. Continuum with Version Ninja 20 does not need Kinetick. This new version of Continuum is only offered at RCG and can only be used at Version Ninja 20. Historical data and time stamped tick data is available with this new continuum. Continuum trades ICE and Eurex products"
Just a heads up.
Good Trading,
Joseph Easton
This is nice because you don't have that PATS fee.
NinjaTrader_Ray
ET Sponsor
NinjaTrader's Continuum connection does support historical data.
I'm not sure who you spoke with at Cannon Trading but from my understanding they do offer Rithmic and RCG
They do offer them both, just not together as of this second. Perhaps that'll change next week. Who the hell knows at this point with how much stuff has been changing.
So...
You want Rithmic data? Have to clear with Vision.
You want RCG clearing? Data with Continuum.
And RCG charges more to clear than Vision does. But Rithmic charges more per turn than Continuum does. But Continuum charges a monthly fee of $10. Rithmic does not.
because....if I understand this entire situation...Zen Fire basically was repackaging Rithmic data, Rithmic dumped Zen Fire, Zen Fire has to develop or source a new data provider (still confused what is happening behide the scenes) ....so its not as simple as going back to the prior version of Ninjatrader, ...prior versions used Rithmic data which they no longer have a relationship with .......If I have this totally wrong will someone please correct me.
This is correct. Zen-Fire was using Rithmic, and Rithmic dumped them. We don't know why, just that it happened over the last couple of months. Mirus and Zen, like the idiots that they are, decided to go live with their BigTick data feed, even though that wasn't ready for a full-scale roll-out (as shown by the events of the past week). They did not have a backup plan. They did not secure another data provider like CQG or TT Feed as a fallback in case things didn't work. They put it all on this one stupid plan, rolled the dice, and basically just blew up their business. I guarantee you that the IT guys at Zen knew about these problems, and that management either didn't listen, or has a culture in place where the IT guys are too scared to speak up. Either way, it's management's fault. They told you that yesterday everything was solved, and today absolutely nothing works. If this continues for more than another few days, Mirus is dead as a broker. Unbelievable incompetence, probably going right to the top of the organization. I said last week that you should run away from this, not walk... nothing has changed in my opinion. Sorry to say it, but Mirus had a great reputation and now because of this they are looking like toast. If I was a Mirus employee, I'd be polishing up my resume right about now...
BigTick was in development way longer before the Zenfire debacle. I was with Mirus and using BigTick back in September. I had bailed seeing the BigTick shortcomings way in advance of the storm. The switch from Zenfire to BigTick was public knowledge (see it here: https://www.bigmiketrading.com/webinars/). Undoubtedly, many never saw this coming.
You can blame Rithmic or Mirus. Either way, I think it was more like an internal decision at Mirus to cut costs and it backfired! Could have been that Rithmic forced Mirus' hands to develop their own API because they needed to gain a foothold on Zenfire - I don't know which. It's all politics and a mute point now.
You're right in that BigTick was not ready for prime time. There was no back up plan. Mirus shot themselves in the foot for that one. Not the first time I've seen company management make decisions without having a clue as to what they are getting into. They just delegate and in this case the technology group had no choice. They lacked the resources and took on a project much larger than they could bite on. That's all clear now.
At any rate, the most important fact here is that many traders were left in the dark and who knows to what extent many have endured loses in the process. I don't think the fallout is over just yet. Mirus' trust is now lost from the public eye in my opinion. Now the vultures are all swooping down and picking apart what little may be left of Mirus. But I take it that's all part of the corporate game.
In the end, the little guy gets the shaft.