Resources

Frequently Asked Questions
 

This page is a collection of questions and answers around technology, liquidity, order matching, execution, post-trade queries and general support requests including how-to-questions around the DMALINK solution.

Although our FAQ section covers a broad range of topics, it is non-exhaustive. Should you have a question which is not answered below, we encourage you to call us, or send us an email.

 

 

 

Most popular requests

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FIX API

How can I obtain the API documentation?

 

The DMALINK FIX 4.4 reference document can be downloaded here.

 

This is the standard FIX protocol. If you require assistance, please refer to the official FIX Trading website, or contact your dedicated DMALINK account manager.

Price Making API

 

Where possible, we will write to the API of the liquidity provider. However, should you wish to act as a maker into DMALINK and do not have an API or wish to use ours, then we can provide you with a Maker API along with FIX specifications. Please email us for more information.

Documentation

Where can I download the GUI user guide?

 

The user guide for the DMALINK GUI can be downloaded here.

 

To request a dedicated training session or to receive answers to 'how to questions' please call us + 44 (0) 207 117 2517 or email fx@dmalink.com.

Training

How can I book a training session to learn more about DMALINK trading systems?

 

In-depth one-on-one training on how to use the highly customizable DMALINK user interface (GUI) is available to all users, including demo account holders. Training can be delivered at the client's site at your convenience. On-going support is also available.

 

To request a tailored Webex session, or in-house training, please contact your dedicated account manager or call us on +44 (0) 20 7117 2517.

Live Market Orders

Orders are not being filled

 

Orders matched against a quote from a market maker are sent to the relevant market maker for trade confirmation. At this point, the liquidity provider may accept or reject the order, following which DMALINK immediately notifies you of the result unless further attempts to match the order to other counterparties are made. Your orders may be matched to firm orders (opposite direction) from any other counterparty trading through DMALINK. These do not use any 'last look provision' and fill acceptance is sent without delay to the parties concerned. All unmatched orders automatically clear out after the specified trade expiry period.

 

 

My trade was filled at an incorrect level

Owing to market slippage and the order type, it may happen that an order was filled at a price away from the market. Such trades must within the shortest possible delay be reported to DMALINK along with your instructions.

For further information, please refer to the operating procedures pursuant to your User Agreement with us.

Execution

Why are my orders not filled?

 

Orders matched against a quote from a market maker are sent to the relevant market maker for trade confirmation. At this point, the liquidity provider may accept or reject the order, following which DMALINK immediately notifies you of the result unless further attempts to match the order to other counterparties are made. Your orders may be matched to firm orders (in the opposite direction) from any other counterparty trading through DMALINK. Those do not use 'last look provision' and fill acceptance is sent without delay to the parties concerned. All unmatched orders automatically clear out after the specified trade expiry period.

Matching engine latency

 

DMALINK provides ultra-low latency infrastructure with order matching times lower than 500 micro seconds. Speed remains unaffected during highly volatile market conditions.

How long does DMALINK hold on to my order?

 

This depends on the order expiry setting of your order. Orders using FoK or IoC expiry settings automatically expire as soon as the orders have looked at the book once provided there are no matching quotes.

If an order is matched to a quote, the order is sent to the relevant liquidity provider and DMALINK shall await a reply from the LP before responding to the client with either an order fill or reject message.

 

Not-Done Order Timeout

 

The Not-Done Order Timeout is defined as the maximum amount of time within which DMALINK must reply to a client order, failing which, the client may consider the deal as NOT DONE. We may offer this functionality on a case-by-case basis and usually tailored to the client's requirements as far as possible.

Hung orders

 

A hung order is an order that is displayed as a 'working order' by the system when it should have either been filled or rejected depending on the expiry settings specified on the order.

 

Please report any and all hung orders via the support hub for further investigation.

Price feeds

Why I cannot see prices streaming across any currency pair?

 

FX market hours

New York 8am to 5pm EST
Tokyo 7pm to 4am EST
Sydney 5pm to 2am EST
London 3am to 12 noon EST

 

Although highly unlikely, prices not streaming across all currency pairs may be caused by a network issue between DMALINK and the client, or by any unexpected outage at the data centre. Connections that are not yet declared live by the DMALINK team may not be receiving prices as a best practice to prevent unauthorised trades. While our Support actively monitor the health of all systems, any such issue affective a production (live status) or demo connection should be immediately reported by email.

 

 

Why do I not see prices for a specific (or set of) currency pair(s)?

 

DMALINK creates dedicated price groups for each client thus creating highly tailored liquidity pools.

 

Only prices for currency pairs that have been enabled for you are available so as to minimise the bandwidth and processing power required at your end to process our liquidity. Additional currency pairs can be added within minutes to your pricing group by contacting us by email.

Prime Brokerage Credit Limits

What is my allocated credit limit (NOP/DSL limit)?

 

All credit limits are set by the Central Counterparty after executing the relevant legal paperwork with your Prime Broker, and as agreed by both parties. Please contact us by email to learn more about your credit limit, current credit utilisation, and available credit.

How can I increase my credit limit?

 

Credit limits are agreed between the Central Counterparty (CCP) of DMALINK and your Prime Broker. While we can submit a request to our CCP to raise your credit limit, it is always good practice to reach out to your Prime Broker so the process can be expedited. Once the new agreed limit is communicated to us, we shall notify you.

 

For further query, please contact us by email.

Real-time Net Open Position (NOP)

Are real-time credit checks carried out?

 

The DMALINK Credit Engine carries out pre-trade and post-trade credit checks in real-time before sending an order to any Liquidity Provider and confirming a filled order to the client respectively. This ensures that you are always trading within the allocation credit limit.

 

Please contact us for more information.

What happens if I exceed my allocated limit?

 

The DMALINK Credit Engine monitors your credit limit in real-time by performance of pre-trade and post-trade checks prior to accepting any order.

 

If you are at your credit limit or close to your limit so that accepting new trades would result in exceeding your limit, then the matching engine will automatically reject all further orders until you have reduced your credit utilisation by unwinding trades that have been filled previously by DMALINK.

 

Alternatively, you can request a limit increase with your Prime Broker.

Unable to login to GUI or API environment (live).

Why am I not able to log into the GUI?

 

This is usually due to the use of an incorrect username and password unless your account has been deactivated/disabled.

 

Alternatively, certain networks require the implementation of relevant firewall rules to allow network traffic to and from our servers. Please contact us by email to report the issue.

What are the target IP addresse(s) and Port(s) to enable on my firewall?

 

Firewall rules should be applied to allow traffic to and from our NY4 servers.

 

For details, refer to the API and GUI documentation.

 

Please contact your dedicated technical account manager for further information.

Firewall issues/Installation issues

I cannot install the GUI/API connection is being refused

 

In the first instance, please refer to the GUI and API documentation.

 

Depending on your internal network, firewall rules may be applied to allow access to the DMALINK User Interface (GUI). A specific IP address and Port must be enabled on our firewall. Please contact us to find out more.

 

With regards to API access, you must enable IP address(es) and Port number(s) communicated to you within the FIX API connection credentials. DMALINK also has to apply the relevant firewall rules to access any connection request from you. For that, we require your source IP address(es). Please contact support to resolve any connectivity issue.

 

You can also contact your dedicated DMALINK account manager, or email your IT team and include us on the email chain.

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