What is the OrderDirect™ Application Programming Interface (API)?
The OrderDirect™ API is the exclusive connecting link between FCM order management systems and the CBOT routing network for the trading floor. The API has been in existence since 2000 and it is used mainly by third party vendors who connect to the CBOT on behalf of the member firms and their customers.
The API enables member firms to have proprietary or vendor order management systems that electronically send orders to and retrieve trade execution information from the Chicago Board of Trade.
These systems can include:
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internet order entry or on-floor order entry
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electronic routing of flashed-order endorsements
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real-time trade processing
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updating of customer accounts and automatic credit checks
All CBOT products are accessible through the API, which accounts for 30,000 orders per day being sent into the trading pits. On an average monthly basis, the API is responsible for 90% of the orders executed.
How do I get connected?
The firm is responsible for the following:
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Complete and return a MAS Request Form to Floor Technology Support (FTS) via fax 312.341.3408. For questions, contact Floor Technology Support (FTS) via e-mail or by calling 312.347.5611.
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Provide and support end to end LAN/WAN connectivity between the firm and CBOT.
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Extend LAN/WAN to a leased equipment rack at the CBOT. LAN/WAN security, management, and redundancy are the firm's responsibility.
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Provide and support at least one router (switch not supported) located in the CBOT Interstitial Area with at least one 10 meg, half duplex Ethernet handoff to CBOT. The handoff must be copper. The router must use CBOT provided IP addresses and support NAT.
- Obtain a cabinet space in the Interstitial, if one is not already leased. Contact the Interstitial area at 312.435.3653 to discuss details on acquiring a cabinet space.
The CBOT is responsible for the following:
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Provide an Ethernet UTP handoff to the firm in the CBOT Interstitial Area.
All network equipment and circuit costs are determined by the firm. An equipment rack can be leased in the CBOT building for approximately $250 per month.
The time to implement the connection is a minimum of one week.
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