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Exchange Background

Exchange Background

The Sydney Futures Exchange (SFE) merged with the Australian Stock Exchange to operate as the Australian Securities Exchange (ASX). The 2006 merger made ASX Group the ninth largest listed exchange in the world. ASX has been a fully electronic exchange since 1999. As of March 20, 2017, the Exchange migrated to the ASX NTP platform,  which uses ASX MDP (ITCH) for prices and FIX 5.0 API for order routing.

Required Connection Information

Before you can install a SFE Gateway, you must work with the Exchange to obtain the IP address and port for the ASX MDP (ITCH) and FIX Order API connections.

ASX provides customers with FIX Order Entry IDs and supporting target Exchange IPs/Ports depending on the connection method. X_TRADER ASP-Hosted customers use ALC Co-location connectivity and LCC’s (Liquidity Cross Connects). For more information, Please refer to the ASX NTP Connectivity Guide.

ASX NTP Differences

SFE Gateway 7.18 supports the following ASX NTP functionality that is different from ASX 24:

  • ASX Market Data Protocol (ITCH) replaces FIX Market Data
  • Order session throttle TPS increase to 15 TPS from 12 TPS
  • CTI code (1H/2C) has changed.  Account code mapping changes are needed to hostinfo and/or Customer defaults.
  • Change to session phases: Removed 30 second leveling period.
  • “Limit” order type behavior change
  • New order type: “Market-to-Limit”
  • New and changed order restrictions: FOK, IOC and Good til date.
  • User defined combinations replace custom market orders
  • Block trade messaging no longer exists
  • New Electricity Strip contracts (listed over the Australian Quarterly Base Load futures, Australian Peak Load futures and Australian Quarterly Base Load $300 Cap futures)
  • New packs and bundles contracts on 90 day Bank Bill. Contract code: IR
  • New bank bill butterfly spreads: listed under IR spreads, not the exchange code FL
  • Implied prices changes
  • FFT2 reference change no longer available on filled orders, working orders can still be changed.

Exchange API Interface

ASX NTP does not provide an exchange GUI.