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NYSE Liffe Gateway

Trader and Firm Identification

Overview

Liffe uses the following concepts related to trader and firm identification:

  • Individual Trader Mnemonics (ITMs): used to identify Order Sessions. LIFFE Connect customers that migrate to the UTP protocol may request that the exchange permission existing ITMs for UTP. However, you cannot use the same ITM to connect to both platforms at the same time. The exchange pairs an ITM to the firm’s “Responsible Person” as defined by the exchange.

    TT Gateways forward the ITM value to the exchange as the SenderCompID field in the Common Customer Gateway's (CCG) binary protocol.

  • Member mnemonic ID: used to identify the trading firm or trading group in login messages to the CCG.

    TT Gateways forward the member mnemonic ID to the exchange as the SenderSubID field in the Common Customer Gateway's (CCG) binary protocol.

  • Unique Source IDs: used to subscribe to the exchange XDP Retransmission Server. You must use at least one Source ID per TT Gateway. You may utilize additional Source IDs to improve gateway performance during recovery.

    TT Gateways forward the value of the ReplayID1 parameter in the hostinfo.cfg file to connect to the Retransmission Server.

  • Standing Data FTP Server IDs: used to access the exchange FTP server in order to download initial instrument definitions. TT Gateways forward the StandingDataServer, StandingDataUser, and StandingDataPass parameters in the hostinfo.cfg file in order to access the Standing Data FTP Server.

Obtaining Exchange Credentials/Membership

Liffe offers a Standard Application process for new members. In addition, existing Members of the Euronext Securities Markets who are extending access to the Liffe Markets can utilize a Fast Track Application Process. Lastly, existing Liffe members can extend membership to other derivative markets by using the Membership Option.

Contact Liffe for more information related to establishing a trading relationship with the exchange. For a description of the membership process, visit the exchange website at:

http://www.euronext.com/editorial/wide/editorial-4113-EN.html

TT Direct Trader IDs

The administrator sets up and determines the Member ID, Group ID and Trader ID. When assigning these values, the administrator must consider which direct traders will share order books and ensure that they share the same Member and Group IDs.

Warning

When creating IDs, TT strongly recommends using three-character values to avoid potential conflicts with order submission.

For instance, the exchange rejects Prof Trades submitted with a Trader ID value longer than three (3) characters.

Direct Trader Login

Note

TT Gateways do not use the ITM as part of the direct trader login (MGT). This implementation differs from TT Liffe Connect Gateways which used the ITM as the Trader ID. For TT Gateway 7.17, the Member ITM must be configured as the Operator ID in TT User Setup.

The mapping between the ITM and Member ID occurs in the hostinfo.cfg file as listed below.

On TT Gateways, you must use an Individual Trader Mnemonic (ITM) as the value of the SenderCompID parameter in each [OrderServerSession_X] section in the hostinfo.cfg file. In addition, you must populate the Member parameter for each [OrderServerSession_X] section with a Member ID. This allows users to map a single Member ID to multiple ITMs.

TTORD Trader IDs

You must complete the following fields in Guardian to map a TTORD proxy trader to a direct trader:

  • Exchange: the TT Gateway exchange-flavor (e.g., NYSE_Liffe-A)
  • Member: must equal TTORD.
  • Group: a three-character variable defined by the firm.
  • Trader: a multi-character variable defined by the firm.
Note

The following applies to TTORD Trader IDs:

  • TT Gateways support TTORDs.
  • You can map multiple TTORDs to one direct exchange trader.

Since the TT Gateway establishes Order API connections at startup, Auto Login does not need to be enabled in the AConfig file.

To reflect this, the following Aconfig parameter should remain set to the default value: false:

AConfig.Core.Server.Exchange-Specific.Exchange-flavor.TTORD.Auto-Login-Exch-Traders

Unique Trader ID Reference

TT Gateways Version 7.15.2 and higher contain an enhancement which uses an existing trader login to uniquely identify each trader at the exchange and through to the clearing firm.

For a complete description, refer to the Uniquely Identifying Traders.

Trader IDs at the Exchange

The value reported to the exchange and in Audit Trail messages as 'Member ID' equals the value of the Member parameter in the hostinfo.cfg file. However, the exchange relies on the value of the ITM to track order-related issues.

Therefore, traders should be aware of how the Member parameter maps to the ITM (SenderCompID) value in the hostinfo.cfg file and determine their mapped ITM value prior to contacting the exchange. Since users may map a single Member ID to multiple ITMs, traders may use a combination of the market and clearing environment to determine the correct ITM for their order.

Warning

When contacting the exchange, the trader must be able to provide the ITM a particular order routes through. The ITM does not appear in Audit Trail messages and must be derived from the [OrderServerSession_X] section in the hostinfo.cfg file.

TT Gateways 7.16 and higher provide the exchange credential used to route the order as described in Order Session Identification.

For information on how the gateway uses the ITM to manage order routing, refer to Configuring Order Sessions.

Order Session Identification

TT Gateways 7.16 and higher contain an enhancement that displays the exchange credential used to route all orders and fills through the exchange. This includes all order modifications and exchange rejects but does not include orders actions on Hold orders and position reserve orders.

Currently, this value is available in the following locations:

  • Audit logs: appears in the ExchangeCredentials column
  • Order Server logfile
  • FIX Adapter 7.8: via Tag 18216 (ExchCred)
Note

The exchange credential will be available in future versions of other TT client applications.

For Liffe, the exchange credential is a combination of the Clearing Environment and ITM as listed in the Environment and SenderCompID parameters listed in the [OrderServerSession_X] section used to route the order.

This information is available for all actions on orders and fills including Over-the-Counter (OTC)/Wholesale trades and incomplete orders/fills.