ForexMagnates @ 12:02 PM, Tuesday July 28 2009
Tradeview just sent the following message to its clients announcing compliance with the NFA’s FIFO requirements:
Dear Tradeview Client:
As many of you are aware, this Friday July 31st, NFA Rule 2-43 becomes effective for all US based FDM’s and clients. Starting with Trade date Monday August 3rd, all positions will be closed on a First In, First Out (FIFO) basis. For those clients using IKON Platinum or IKON Viking platforms there will be no change to your normal trading activity. For our Meta Trader clients, however, there will be some changes you should be aware and prepared for:
1. The FIFO roll process will begin everyday at 4:30 PM New York (Eastern United States Time)
2. From 4:30 until 5:00 PM all Take Profit and Stop Loss orders will be on a not held and contingent basis
3. Starting 4:30 PM any Take Profit or Stop Loss orders associated with a FIFO matched position will be automatically cancelled.
4. Any Take Profit or Stop Loss orders on open (meaning not totally closed positions) will be working.
5. It is your responsibility to verify all Filled/Working and Open/Pending orders for accuracy
We are pleased to have created a solution that meets everyone’s (clients and regulators) requirements. We look forward to your feedback and thank you for your support
Dear Tradeview Client:
As many of you are aware, this Friday July 31st, NFA Rule 2-43 becomes effective for all US based FDM’s and clients. Starting with Trade date Monday August 3rd, all positions will be closed on a First In, First Out (FIFO) basis. For those clients using IKON Platinum or IKON Viking platforms there will be no change to your normal trading activity. For our Meta Trader clients, however, there will be some changes you should be aware and prepared for:
1. The FIFO roll process will begin everyday at 4:30 PM New York (Eastern United States Time)
2. From 4:30 until 5:00 PM all Take Profit and Stop Loss orders will be on a not held and contingent basis
3. Starting 4:30 PM any Take Profit or Stop Loss orders associated with a FIFO matched position will be automatically cancelled.
4. Any Take Profit or Stop Loss orders on open (meaning not totally closed positions) will be working.
5. It is your responsibility to verify all Filled/Working and Open/Pending orders for accuracy
We are pleased to have created a solution that meets everyone’s (clients and regulators) requirements. We look forward to your feedback and thank you for your support
Michael
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