Configuring a Direct Connection
MEFF offers the following types of memberships:
- Custodian Clearing Member
- Clearing Member
- Proprietary Trading Member
Before trading at MEFF, prospective traders must either open an account with a MEFF member or obtain a unique MEFF membership. For further details, consult with an entity member of MEFF. You will find a list on the members page at:
Additionally, you must work with the exchange to properly configure the following:
The exchange configures the following types of member IDs:
- Non-Trader ID: The Price Server uses a Non-Trader
ID to make a Price API connection to the exchange.
- Trader ID: only receives the execution reports from the exchange for that Trader. MEFF has instituted a daily transaction limit of 60,000 orders for each Trader ID.
- Multi-Trader ID: receives all execution reports from the exchange for the entire membership. Since the MEFF Gateway drops all unsolicited fills and orders, using the Multi-Trader ID unnecessarily will increase the amount of processing performed by the Gateway.
- Trader and Multi-Trader IDs: The Order Server can use
either of the following ID types to make an Order API connection
to the exchange.
TT recommends that customers configure the Order Server to use the Trader ID unless they exceed the daily transaction limit.