AMP Rithmic LIVE User Default Setup:
In order to allow AMP customers to use the NEW Rithmic Plug-in Feature, we will set:
- Max Session Count For Orders to 5 (connect up to 5 different 3rd party trading platforms at a time that are connected via the Rithmic plug-in app service)
- Max Session Count for Market Data to 1 (equals > non-professional market data subscribers status - 1 Billable Exchange Data user)
As you know, the CME Group doubled the market data subscription fees it charges for non-professional market data subscribers’ ability to access market depth, effective April 1, 2020. Additionally, beginning May 1, 2020, the CME Group is requiring that market data distributors (Rithmic is a market data distributor), report the number of concurrent logins each market data subscriber is permitted to access the CME Group’s market data. The CME group is also requiring that a market data subscriber that is permitted to maintain more than 2 concurrent market data logins be reported as a professional market data subscriber.
Needless to say, beginning May 1, 2020, many non-professional market data subscribers may find themselves reported as professional market data subscribers and charged significantly higher marker data subscription fees. A market data subscriber who has been reported as a non-professional market data subscriber prior to April 1, 2020, subscribing for market depth data from all 4 CME Group exchanges, running 4 programs concurrently, incurred a fee of $15 per month. On April 1, 2020 that fee increased to $30 per month. On May 1, 2020, that same market data subscriber would be reported as a professional market data subscriber and would incur professional market data subscription fees. The market data subscription fee for a professional market data subscriber is $105 per exchange per month ($420 for access to all 4 exchanges) but since he is able to log in with 4 apps concurrently he will be charged 4 times that - $1680 per month.
Additionally, the increased fees will be applied to each user id that is entitled to access the CME Group’s real-time market data, multiplied by the maximum number of concurrent sessions (the max session count) permitted for that user id.
For example, if, during May 2020, a user id for a non-professional market data subscriber is entitled to access real-time market depth data from all 4 of the CME Group’s exchanges (CME Bundle - $30.00) and has a max session count of 3, the fee incurred by that user id for May 2020 will be the applicable rate multiplied by 3 ($60.00) - (the max concurrent session permitted for such user id) even if the user id logged in 2 or fewer times concurrently, or even if the user id did not login at all.
Fortunately the CME has stated that apps that plug in to other apps, if such apps that plugged in do not make a separate independent login to access market data and run on the same machine as the app to which they have plugged in, are not considered to have their own session for market data and therefore do not incur additional market data subscription fees. In the scenario above, if, beginning May 1, 2020, the market data subscriber runs 3 of his apps plugged in to the 4th app, only the fourth app would incur a market data subscription fee and he could access market data with a session count of 1 – and still retain his status as a non-professional market data subscriber. In such a case his market data subscription fee would have increased from $15 per month to $30 per month (not to $1680 per month).
To which app could other apps connect to get market data?, you may ask. Well, Rithmic has recently enhanced its app, R | Trader Pro™, to provide such functionality. Apps that incorporate R | API or R | API+, with a small configuration change, can connect to the new version R | Trader Pro™ running on the same machine and subscribe for market data as usual.
The new version of R | Trader Pro™ (version 16.x.x.x) can be configured by its user to accept connections from plug-in apps to subscribe to and access market data (live, delayed and/or historical). The plug-in app must connect to R | Trader Pro™ and log in to R | Trader Pro™ using the same credentials as used by R | Trader Pro™ when R | Trader Pro™ logged in to Rithmic’s R | Trade Execution Platform™, and, the plug-in app must run on the same machine as the R | Trader Pro™ to which it has connected. Rithmic has enhanced R | Trader Pro™ so that developers of apps that incorporate R | API or R | API+ may not require any coding changes, just configuration changes.
Rithmic notified its community of developers and traders who have written programs or caused programs to be written on their behalf, about the changes to the CME’s market data subscription fees that users will be charged and provided them with a preliminary copy of R | Trader Pro™ 18.104.22.168. Rithmic has and continues to make changes to its R | Trade Execution Platform™ in support the use of R | Trader Pro™’s plug-in feature and to require any user who would like to be configured to run more than 2 apps connected to R | Trade Execution Platform™ simultaneously to first certify himself as a professional market data subscriber.
Many third party apps have reported success incorporating the configuration changes required to connect to R | Trader Pro™ for market data. Not all of the makers of the 30 or so apps that currently connect to R | Trade Execution Platform™ have reported to us whether or not they will incorporate the configuration changes to be able to plug0their apps in to R | Trader Pro™. In my opinion, it is doubtful that SierraChart will make use of the plug-in feature as SC has previously announced that it no longer supports the use of new versions of its software with R | Trade Execution Platform™. Ninja Trader seems to have shown some interest in making use of the plug-in feature but is not committing to support it in the immediate future. Bookmap, Jigsaw, MotiveWave, ATAS, Investor R/T, MultiCharts, Photon Trader, AgenaTrader, and Medved Trader seem to have moved forward with the configuration changes quickly. Users who run apps that do not make use of R | Trader Pro™’s plug-in feature will find that if they run such an app and any other apps concurrently they will incur higher than usual market data subscription fees and, if they consent to becoming a pro to run more than 2 apps concurrently, much higher than usual market data subscription fees.
As market data subscription fees are incurred for access to market data but are not incurred for the access to trade, multiple connections to R | Trade Execution Platform™ do not incur market data subscription fees for connections made to place, modify or cancel orders. To limit the number of connections a user id may make to access market data without affecting the number of connections that user id may make to place, modify and cancel orders, Rithmic has introduced new fields in R | Manager™ 22.214.171.124. Currently the maximum number of concurrent connections that a user id may make (both for orders and for market data) is indicated in the field Max Session Count. Effective with trade date May 1,2020, that field will no longer be used and will be replaced with 2 new fields: Max Session Count for Orders and Max Session Count for Market Data. These fields may be populated ahead of time but will have no effect until trade date May 1, 2020. To ease the burden of populating these fields, Rithmic will automatically populate the new fields of each user id with the quantity indicated in Max Session Count for that user id some time on April 30, 2020, provided that the new fields for such user id are not already populated. Additionally, if a user id has been certified as a non-professional market data subscriber, has a Max Session Count of 2 or greater and its new field, Rithmic will populate such user id’s Max Session Count for Market data with a value of 2, even if it was populated with a higher number. Starting May 1, 2020, each non-professional market data scriber user id that would like to have a Max Session Count for Market Data of greater than 2 will first need to be re-certified as a professional market data subscriber.
Rithmic’s paper trading environments
As orders that are filled by Rithmic’s exchange simulators are filled based upon live market data, all user ids in Rithmic’s paper trading environments must have market data subscriptions to be able to view, place, modify and cancel orders. If a user id places an order for a symbol that trades on an exchange for which that user id does not have market data subscriptions enabled, that order will be rejected. Many FCMs permit their account holders to have access to Rithmic’ paper trading environments in addition to their access to Rithmic’s live trading environments. Such dual access can cause dual market data subscription fees and possibly cause a non-professional market data subscriber to be required to certify himself as a professional market data subscriber and to pay professional market data subscription fees. If such a user does not have market data subscriptions set for his live accounts but does have market data subscriptions enabled for his paper trading accounts and uses R | Trader Pro™ and its plug-in feature, such user may be able to pay a single set of market data subscription fees and remain as a non-professional market data subscriber.
Available Options to maintain 1 Market Data billable user for BOTH Live & Paper Trading
We will Disable market Data on your LIVE connection (you will use your LIVE connection for Order Routing Only) > We will enable market data on your Paper Trading User (the market data on your paper trading user is required in order to executing Paper Trade Orders)
This will allow you to use both LIVE & PAPER trading with only 1 Market Data user (non-professional market data subscribers status - 1 Billable Exchange Data user).
Kind of odd setup, but it makes sense because you can place LIVE orders without Market Data, but with PAPER Trading needs both DATA and ORDERS in order to paper trade.
- Enable (or leave enabled) market data entitlements in Rithmic Paper Trading;
- Disable Market Data entitlements in Rithmic 01 for the corresponding Rithmic 01 user;
- A user who wishes to use Rithmic 01 for orders and also Rithmic Paper Trading should use Rithmic Paper Trading to access their data.
These above are the CME Market Data Fees.