TT CME Gateway System Administration Manual - Trading ...

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Exchange Location and Interface
CME Gateway System Administration Manual 11
Trading Technologies International, Inc.
TT Gateway and the Exchange
What’s New in 7.16? In response to recently issued European Securities and Markets Authority (ESMA)
guidelines, CME Gateways 7.16.1 and higher support the following features found
in TT User Setup 7.4.6:
• Price Control: administrators can now set the price band in which orders
can be entered for a given user to a pre-determined number of ticks above
or below the current market price.
• Order Throughput Control: administrators can set limits on the number of
messages per second that a user can send per TT gateway.
• GTC/GTDate Control: administrators can restrict the usage of GTC and
GTDate orders.
For more information on these features, refer to the TT User Setup User Manual.
After an upgrade to CME Gateway 7.16, you must set the Sendersubid parameter
to “Exchange” in hostinfo.cfg if you want to continue sending Trader IDs as Tag
50. If Sendersubid is not configured after an upgrade, the default gateway
behavior for 7.16 and higher is to populate Tag 50 with the trader’s TT Username
defined in TT User Setup.
TT Gateways 7.16 introduce the Integrated Message Acceleration initiative. This
marks the first appearance of a redesigned communications architecture across
the entire TT trading platform.
TT’s new integrated approach leads to large reductions in latency and variability
when delivering prices, orders and fills from the exchange to trading applications.
Traders should expect to see:
• Faster turnaround on re-quotes
• Mean latency reduced up to 80%
• Latency spikes reduced up to 95%
• Order latency reduced up to 40% in quiet market conditions
• Better odds against “getting legged” under heavy market conditions
In addition, the 7.16 Gateways include the following enhancements:
• Windows Server 2008 Support: TT Gateways 7.16 and higher contain an
enhancement to fully support the Window Server 2008 (R2 64-bit)
operating system.
• New TT Chron 7.7: TT Chron 7.7 has been updated to fully support the
Windows Server 2008 (R2 64-bit) operating system.
• Order Session Identification: TT Gateways now record the exchange
credential used to route each order. Future versions of TT’s client
applications will contain an enhancement to display this value for each
trade.
• Number of Orders at Price: TT Gateways obtain the number of orders at
each price level and send it to the client trading applications.
Note: This feature requires X_TRADER 7.11 or higher and is fully supported for
the following TT Gateways 7.16: BrokerTec, BVMF, CBOT, CME, ICE, LME, MX, OSE
and SGX.
• Updated Audit Files: Many exchanges require users to record additional