SGX: Saturday Production Trading Session for SGX India Equity Index Derivatives
November 14
TT will not be participating in the Saturday production session on November 14. Neither X_TRADER® nor TT® will be available for trading during the Saturday session.
CME: iLink Enhancements for Location ID and Display Quantity
November 15
Effective Sunday, November 15 (trade date Monday, November 16), CME Group will implement iLink changes to Location ID and Displayed Quantity Order Modification for both Convenience Gateway(CGW) and Market Segment Gateway(MGSW) sessions. These changes as described below are available in DDE and UAT for customer testing.
Location ID
CME Globex will return the Location ID value on the Cancel message from the Location ID on the Order Cancel Request message. Currently, the Cancel message contains the Location ID value from the original order.
X_TRADER Platform Impact
Tag 143-TargetLocationID on the ER-Cancel message will contain the locationID value from the Order Cancel Request message.
TT Platform Impact
Tag 143-TargetLocationID on iLink2 and Tag 9537-Location on iLink3 on the ER-Cancel message will contain the locationID value from the Order Cancel Request message.
Displayed Quantity Order Modification
To better align with BrokerTec markets, iLink customers will no longer be able to modify the resting Displayed Quantity orders to the Non-Displayed Quantity orders, and vice versa. Currently, CME Globex allows this Displayed Quantity order modification for Futures and Options markets. With the change, CME Globex will validate display quantity value on iLink messages. Any resting Displayed Quantity order modified to become a Non-Display Quantity order, and vice versa, will be rejected.
X_TRADER Platform Impact
Modification of orders from Iceberg to Non-iceberg & vice-versa will no longer be allowed.
TT Platform Impact
Modification of orders from Iceberg to Non-iceberg & vice-versa will no longer be allowed.
Additional Resources
Globex Notice November 2, 2020
[UPDATED] CME: Mandatory iLink 3 Binary Order Entry Protocol for MSGW and BrokerTec Migration
Q1/2021
CME Group will be launching iLink 3, a new order-entry protocol for trading futures, options and BrokerTec products on CME Globex. All customers connected via Market Segment Gateway (MSGW) are encouraged to migrate to iLink 3 as early as possible prior to the iLink decommission. iLink 2 and iLink 3 for MSGW will run in parallel until February 26, 2021, and at that time will incur additional charges by CME. On March 28, 2021, iLink 2.0 for MSGW will be decommissioned.
BrokerTec products will migrate to CME in Production on January 31, 2021 and will only be available on iLink 3 MSGW. Customers will need to obtain a dedicated iLink Session ID to be used for only the BrokerTec market segment. CGW will remain on iLink 2 and will not be impacted.
MSGW iLink3 for CME products is now available in UAT for customer testing. BrokerTec products will be available in upcoming weeks and communicated in future updates.
CME will be holding Saturday Mock Sessions for BrokerTec. Mock dates have been added, TT will notify customers what date the Mock will be supported. This date will be announced in upcoming weeks.
Customers who wish to participate should register with the CME via this link: https://go.cmegroup.com/l/502091/2020-08-19/2lfnymf and contact your Onboarding/Customer Success Manager to confirm with TT. Any change to participation in Mock Sessions will be provided in a future update.
For the iLink 2 to 3 migration, CME Group does not require customers to obtain new iLink sessions. Customers will have the ability to migrate their existing iLink sessions from iLink 2 to 3 within the CME Request Center. For all existing migrated sessions, standard Session Policy Charges will apply.
X_TRADER Platform Impact
X_TRADER will not support iLink 3.0 for MSGW or BrokerTec products that will migrate to CME on January 31, 2021.
Customers keeping Link 2.0 MSGW connections will need to move their connections to CGW to maintain access to CME. Customers are strongly encouraged to migrate to the TT platform in early Q1/2021.
TT Platform Impact
We will support both the iLink 3.0 upgrade and the BrokerTec US migration to CME on the TT platform. iLink 3.0 for CME products is currently available in UAT for customer testing. BrokerTec products are now available in UAT.
Additional Resources
Globex Notice October 1, 2020
Eurex: T7 9.0 Upgrade
November 23
Eurex will move forward with the T7 9.0 upgrade on November 23. Key dates are:
- September 14: Simulation start
- November 23: Production launch
Eurex recommends that members participate in the connectivity test on Saturday, November 21 from 16:00-18:00 CET (9:00-11:00am Chicago time).
Details on Eurex T7 Release 9.0 are now available on the exchange website at https://www.eurexchange.com/exchange-en/technology/t7/release9.
Trading Capacity
Note that With T7 Release 9.0, a new validation will verify whether the usage of the trading capacity with Agency is compliant with the client service authorization of the corresponding trading participant. As a consequence, any on-book or TES trading transaction requiring the specification of the trading capacity (e.g. on-book order add, TES trade approval) will be rejected in case a trader is using the trading capacity with valid value Agency but the business unit he belongs to is not compliant with the client service authorization. For full details, please see the T7 Release 9.0 Release Notes
In short, if Trading Capacity is set to Agency (Any Other Trading Capacity) the Account Type should be set to A1-A9. Please refer to the following table provided by Eurex:
| Order | Clearing Account | |||
| EEX/Eurex | A1 – A9 | P1 – P2 | M1 – M2 | |
| Trading Capacity | Agency | OK | A1 | A1 |
| Proprietary | P1 | OK | OK | |
| Market Maker | M1 | OK | OK |
On TT screens, the exchange Trading Capacity values are mapped as follows:
- Agency = Any Other Trading Capacity
- Market Maker = Match
- Proprietary = Deal
Tag 1031 (Execution Source Code / Customer Order Handling Instruction) Changes
With the introduction of T7 Release 9.0, the entry of the Execution Source Code will be mandatory in case of Agency business execution (Trading Capacity A) according to valid values as specified by FIA (see Eurex Release 9.0 Notes). If no value for the Execution Source Code is entered to an on-book order or TES approval, the order respective TES trade will not be rejected but a default value (D) for the Execution Source Code will be added automatically instead. In case an invalid value is entered, the order respective TES trade will be rejected.
X_TRADER Platform Impact
On September 14, Eurex simulation became available on the T7 9.0 API. Access in DDE is now available for customer testing on TT Eurex Gateway 7.18.60.
Please note that FIX Tag 1031 is not supported on the X_TRADER platform on the TT Eurex Gateway.
TT Eurex Gateway 7.18.60 will be released next week to support the T7 9.0 upgrade. Customers must upgrade to this version after the close on November 20, and prior to the market open on November 23.
To participate in the connection test on November 21, participants must:
- Stop TTChron on the Eurex Gateway.
- Manually start the Price Server and Order Server.
- Verify the Price Server is initialized and fully green in Guardian.
- Verify the Order Server has successfully performed session and trader logons for each session configured in the hostinfo.cfg file by locating the following messages in <drive letter>:\tt\logfiles\*OrderServer*.log:
- Ses. <Session ID> received session logon for session credential…
- Trader Login <MemberGroupTrader> success
Note the Order Server will remain in the initializing state in Guardian.
- Upon verification, restart TTChron to stop the Price Server and Order Server.
TT Platform Impact
On September 14, Eurex simulation became available on the T7 9.0 API and is available for testing in UAT.
On the TT platform, tag 1031 is supported at the Account level. For information on configuring tag 1031, please refer to the documentation.
TT will participate in the connection testing on November 21.
SGX: New Production Additions – SGX USD/INR (USD) Futures and SGX FTSE Equity Index Futures
November 23
SGX is launching new products to be available for trade date of Monday, November 23. Please see the following list of products:
| Product Name | Contract Symbol | Point Value |
| SGX USD/INR (USD) Futures | INR | 1000 |
| SGX FTSE Emerging Market Index Futures | FEM | 100 |
| SGX FTSE China H50 Index Futures | FCH | 2 |
| SGX FTSE Emerging Market NTR (USD) Index Futures | FNEM | 200 |
| SGX FTSE Japan NTR (USD) Index Futures | FNJP | 25 |
| SGX FTSE New Zealand NTR (USD) Index Futures | FNNZ | 10 |
X_TRADER Platform Impact
A pmerge file will be provided in next week’s System News and Updates.
TT Platform Impact
No customer action required; Products will be available automatically.
HKEX: New Production Addition – Hang Seng TECH Index Futures and Options
November 23, January 18
HKEX is launching Hang Seng TECH Index Futures on November 23, 2020 and Hang Seng TECH Index Options on January 18, 2021.
| Contract | Product Code | Point Value |
| Hang Seng TECH Index Futures and Options | HTI | 50 |
X_TRADER Platform Impact
A pmerge file will be provided in next week’s System News and Updates.
TT Platform Impact
No customer action required; Products will be available automatically.
Updated: Euronext: Oslo Børs Optiq Migration
December 7
Following Euronext’s acquisition of Oslo Børs in June 2019, Oslo Børs’ trading systems across asset classes will migrate from the Millennium Exchange and SOLA systems to the Euronext Optiq systems. The migration timeline is as follows:
- April 13: Availability in p-EUA
- November 14 and 21: Dress rehearsals in Production
- December 7: Production go-live
The Oslo Børs Migration Guidelines and Guide to New Trading System documents are available in the IT Documentation section of the Euronext Connect customer portal.
X_TRADER Platform Impact
Oslo Børs products will not be supported on the X_TRADER platform.
TT Platform Impact
Oslo Børs products are available for customer testing in UAT.
TT: FIX SSL Certificate Update
December 11
For customers whose FIX engine natively supports SSL encryption, or who have implemented FIX session encryption using STunnel, TT provides a TTFIX.crt file with the public certificates used by the TT platform FIX endpoint.
On October 5, 2020, TT updated the stunnel.zip file located in the Download Center in order to update the soon-to-be-expired certs from the TTFIX.crt bundle. All customers who use STunnel will need to download a new zip file and apply it by December 11, 2020.
- Added TT platform STAR.TRADE.TT expiry September 20, 2021 (DC)
Additional Resources
Stunnel.zip file
Directions for configuring stunnel with TTFIX.crt
HKEX: New Product Additions – MSCI Asia and Emerging Market Index Futures and Options
Q4
HKEX continues to add MSCI Asia and Emerging Market Index futures and options. Remaining products to be launched are listed below. Launch dates will be provided when finalized by the exchange.
X_TRADER Platform Impact
The Pmerge file will be added in a future update.
| Launch Date | Contract | Product Code | Point Value |
| Q4 | MSCI Taiwan (USD) Index Options | MTW | 100 |
TT Platform Impact
No action is required; products will be available automatically.
Additional Resources
Exchange Notice, June 1, 2020
FIA: Execution Source Code Schema Initiative (Tag 1031)
Timeline varies by exchange
Multiple exchanges, in cooperation with the FIA Execution Source Code Schema Initiative, are moving forward with plans to implement FIX tag 1031 (CustOrderHandlingInst) on their APIs.
Exchange-Specific Plans
- CME: Tag 1031 is supported and is mandatory.
- ICE: Tag 1031 is supported, but not required.
- Eurex: Tag 1031 is supported, but not required.
- CurveGlobal/IDEM: Tag 1031 is supported with the SOLA 14 Upgrade on February 3, but is not required.
X_TRADER Platform Impact
For CME, tag 1031 is now available in production. Customers should enter a valid value in the FFT6 field in Customer Defaults and/or FIX Account Defaults. For FIX Order Routing applications, FFT6 maps to tag 16903. If no value is set, a default value of “Y” will be sent. CME Gateway 7.18.49 was released on October 18.
For ICE, tag 1031 is now available with ICE Gateway 7.18.29. Customers should use FFT6 to send the value to the exchange. The field is optional for ICE.
TT Platform Impact
For CME, tag 1031 is now available for use in Production. Customers should select a valid value in Setup or set Order Tag Defaults.
For ICE, tag 1031 is now available for use in Production. Customers should select a valid value in Setup or set Order Tag Defaults to send the value to the exchange. Customers can choose not to select any value as this is an optional field for ICE.
For Eurex, support of tag 1031 on the TT platform is now available. Customers should select a valid value in Setup or set Order Tag Defaults to send the value to the exchange. Customers can choose not to select any value as this is an optional field for Eurex. On the X_TRADER platform, tag 1031 is not currently supported.
For CurveGlobal and IDEM, support for tag 1031 was added on February 3 for both exchanges.
Additional Resources
FIA Indirect Clearing Documentation
PRODUCT RELEASES
No new products were released this week.