Risk Management Differences from our standard CQG, Rithmic, TT
How Sierra Chart is currently programmed, if your Account is Under-Margined at the End of Day Session Margin Check (3:55pm CST-Chicago), it will CLOSE/Liquidate ALL the Open Positions. It will NOT trim/Reduce positions is will CLOSE ALL Positions and Cancel ALL working Orders for your ENTIRE account.
You must manage meeting the required Exchange Margin Requirements before the End of Day Session Margin Check (3:55pm CST-Chicago) to make sure your Open Positions meet the Exchange Margin Requirements to avoid ALL your Open positions from being CLOSED/Liquidated.
Here is the schedule, so you can properly manage your positions:
- At 3:45pm CST-Chicago, the margin requirements on Sierra will be updated to the Exchange Maintenance Margins Requirement (amount required to carry the position past the daily close).
- At 3:55pm CST-Chicago, the End of Day Session Margin Check will run and any accounts that Do NOT meet the Exchange Maintenance Margins Requirement – ALL OPEN Positions will be CLOSED/Liquidated and ALL Working Orders will be cancelled.
This will provide you approx. 9 minutes (3:45pm-3:54pm CST), to review your Account and make any adjustments you need to meet the Exchange Maintenance Margins Requirement.
You will see the Exchange Maintenance Margins Requirement in your Sierra Chart Column – MarginRequirement. This is the column that Sierra Chart will use during the End of Day Session Margin Check at (3:55pm CST-Chicago). If your AccountValue (NLV) is less than the MarginRequirement it will CLOSE ALL Positions and Cancel ALL working Orders for your ENTIRE account.
If the Net Liquidity of an account reaches a Daily Loss Limit of 80%, open positions will attempt to be liquidated. Clients are responsible for monitoring their positions and are financially responsible for any losses generated by open positions in the account. AMP retains its right to liquidate positions in any account, at its sole discretion, with no forewarning. If the Risk Desk is forced to liquidate positions in any account, due to either 80% daily loss limit reached or to meet Initial Margin set by the exchange 5 minutes before the daily trading session close, there will be a $25 per contract for Full Size Contracts or $2.50 per contract for Micro Contracts liquidation fee charged.
This above process is an automated process built natively within Sierra Chart. As with all trading, there are many reasons why the above automated risk management process could not work as expected or desired (including but not limited to market conditions or bad information). If there are any failures to the above risk management process, you are still responsible for all trading margin requirements, trading PnL and debit balances. If you do not accept the trading risk or the risk management processed explained above, please do not place any live orders/trades.
Margin Differences from our standard CQG, Rithmic and TT
During the US overnight session (from 5pm until 7:45am CST-Chicago), the margin requirements will be 25% of the Exchange Maintenance Margins Requirement.
At (7:45am CST-Chicago), AMP standard Day Trading Margins will be applied until (3:45pm CST-Chicago).
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