connecting on public holidays and weekends

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Imported from previous forum

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Hi,

I am busy coding/thinking about the scheduling of session connections and was wondering what the industry standards / protocol expectations are?

  1. I assume one does not connect on a weekend!?

  2. If a session is the initiator… Does a session not connect on public holidays? and does it worry about public holidays in its own country and/or does it have to keep track of public holidays in its counterparty’s country as well?

Regards
Byron
Net2S

3

Hi Byron,

I am busy coding/thinking about the scheduling of session
connections and was wondering what the industry standards / protocol
expectations are?

  1. I assume one does not connect on a weekend!?

I do not know any exchange which is open on a weekend, but I do not assume that this is general rule. Even the notion of “weekend” is bound to cultural specifics of the region.

  1. If a session is the initiator… Does a session not connect on public
    holidays? and does it worry about public holidays in its own country
    and/or does it have to keep track of public holidays in its
    counterparty’s country as well?

Trading holidays are very specific to the exchange/ECN/broker you are connecting to. As initiator, you are probably on the buy side.

If you connect on a day which is a holiday for the sell-side, it could reject the login with a specific message that the sell-side is closed for holiday. Then you check for this message and do not connect again this day.

More specific are security holidays: If securities from different countries/regions are traded on an exchange, it could happen
that while the exchange is open for business, you cannot trade some securities because there is a public holiday in the related country.

In summary, I think there is no industry standard because there is no standard for holidays – peoples are different all over the world.

But I am looking forward for other opinions / experiences…

Cheers, Jörg

4

ok thanks,

so far for now, weekends on the buy-side/initiator are out of hours… or one should be able to set up what the weekdays are for the initiator.

And to accommodate all instances of non trading days/holidays a per session setup of all days it should not connect on - to be prescribed by each counterparty by way of a business rules of engagement process.

I think that should do…

Hi Byron,

I am busy coding/thinking about the scheduling of session
connections and was wondering what the industry standards / protocol
expectations are?

  1. I assume one does not connect on a weekend!?

I do not know any exchange which is open on a weekend, but I do not
assume that this is general rule. Even the notion of “weekend” is bound
to cultural specifics of the region.

  1. If a session is the initiator… Does a session not connect on
    public holidays? and does it worry about public holidays in its own
    country and/or does it have to keep track of public holidays in its
    counterparty’s country as well?

Trading holidays are very specific to the exchange/ECN/broker you are
connecting to. As initiator, you are probably on the buy side.

If you connect on a day which is a holiday for the sell-side, it
could reject the login with a specific message that the sell-side is
closed for holiday. Then you check for this message and do not
connect again this day.

More specific are security holidays: If securities from different
countries/regions are traded on an exchange, it could happen that while
the exchange is open for business, you cannot trade some securities
because there is a public holiday in the related country.

In summary, I think there is no industry standard because there is no
standard for holidays – peoples are different all over the world.

But I am looking forward for other opinions / experiences…

Cheers, Jörg