Tradovate with Jigsaw Trading vs. X_Trader - reliability

[Adam777]

b) in the case of Jigsaw with Tradovate, he does not know where the servers are and how up to date they are.

I believe Tradovate are an introducing broker for Dorman so talk to them. MrMuppet doesn't use Jigsaw, he's just helping us understand.

I thought there was a way for the order to go directly to market through CQG or TT etc handling risk, so it bypasses the broker completely, speeding up the signal for Dom scalpers. Good for people outside the US scalping their local market. US broker still gets their cut of course. I need confirmation on this as I'm still trying to understand it all.

 

[MrMuppet]

Well, also with TT it depends on which FCN you use. If you go through an US - house to trade non US markets, my understanding is that the risk check will also go through the US, since the FCN provides intraday margins and it's their risk.

I'm generally concerned when it comes to stuff I don't understand or I cannot verify, e.g. a frontend where a multitude of parties are involved and nobody can exactly explain how it all works and fits together.

Most people won't be affected by latency, but if you trade intraday for a couple of ticks I would not want to have more than 100ms to the exchange.

So I would highly recommend to anybody who is into scalping to get latency figures for their orders and to do the due dilligence when it comes to infrastructure. It does make a difference.

 

[Sands]

I've used both these tools live and they're very stable in my use. Feature wise I like that both are / have given the market something new. I like the sas approach of tt and the standalone jigsaw offering. Good to see some new stuff for us mom and pop shops!

 

[JigsawTrading]

Thanks for your reply.
There is surprisingly little information on the web regarding order routing, or maybe I just didn't look hard enough. I re-read the thread and one thing MrMuppet said stood out to me:



Things are starting to make more sense to me. What I did not know is that TT has it's own data feed (see how newbie I am!). So the way I understand it is

1) if you use TT, then TT handles the order for the FCM (pre trade risk check).
2) if you use Jigsaw standalone with CQG, then CQG handles the order for the FCM.
3) if you use Jigsaw with Tradovate, then the order goes to your broker first and then the broker sends it to the exchange.

Is that correct? And Mr Muppet is concerned that
a) Jigsaw uses a third party data feed (as opposed to TT) and
b) in the case of Jigsaw with Tradovate, he does not know where the servers are and how up to date they are.
Sorry for hijacking the thread and all my questions.

CQG & TT have many roles. Part of what they do is delivering us data, then they take care of trade routing, they also have back-end risk management systems.

We support CQG, Rithmic & Gain Capitals feeds - that means they take care of routing, risk and data. It doesn't really matter if you use our front end or someone else's - unless that front end is a cloud system - which introduces another hop. Otherwise it wouldn't matter if you used CQG Trader or Jigsaw - your data/orders are handled in exactly the same way.