FIX field needed to show market open for trade

Created at 17 Mar 2022, 01:30
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aerich48

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Joined 10.01.2018

FIX field needed to show market open for trade
17 Mar 2022, 01:30

I use FIX functions exclusively, for market data and trading 24/7.

These work very well, but the auto trading code has NO idea if a particular market is currently open for a trade, or for closing an open trade.

I think we need a FIX field in the Market Data Snapshot, that tells us that at THIS moment at least, the symbol is open for trading.

Without this field, it is possible that the auto code could sit for hours thrashing the FIX engine for a New Order Single, and NOT know that the market is closed !!

One broker (not cTrader platform) has solved this problem by providing a "QuoteCondition" FIX field when every quote (Market Data Snapshot) is sent. Then the code can immediately stop requesting a trade until the QuoteCondition comes true (i.e, symbol quote open for trading).

This new field could save thousands of ExecReport "Reject" messages from being generated, and only allow trades when a market is open - speeding up the whole system.

Thanks.

@aerich48
Replies

amusleh
17 Mar 2022, 10:16

Hi,

There is no such field available right now on cTrader FIX API, and we don't have any plane to add it.

I recommend you to open a thread under suggestions section, or use Open API.

@amusleh
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