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Exchange System Updates

 

MEFF: Algorithmic Trading Indicator (Tag 2667) Requirement

September 1

MEFF will require the Algorithmic Trading Indicator (Tag 2667) on all orders/quotes sent by an algorithm starting September 1.

X_TRADER® Platform Impact
Prior to September 1, we will release MEFF Gateway 7.18.28 to support the automatic submission of the Algorithmic Trading Indicator (Tag 2667) when an order is sent via an automated trading tool, such as ADL®, Autospreader®, etc. On FIX Adapter, this value will be supported in tag 11028 (ManualOrderIndicator).

MEFF Gateway 7.18.28 is now available in DDE for customer testing.

TT® Platform Impact
Prior to September 1, we will deploy software in production to support the automatic submission of the Algorithmic Trading Indicator (Tag 2667) when an order is sent via an automated trading tool, such as ADL, Autospreader, etc. On FIX Adapter, this value will be supported in tag 1028 (ManualOrderIndicator).

This functionality is now available for testing in UAT.


TOCOM: Energy Products

September 15

TOCOM is introducing West and East Baseload and Peakload energy products. These are already available in UAT and DDE environments, and the exchange will support testing of these products on August 11. They are scheduled to be released to production after final production testing on September 15.

X_TRADER Platform Impact
To trade this product, you must apply an updated pMerge file on all TOCOM Gateways by completing the following steps:

  1. Copy the attached TOCOM.pmg file to <drive letter>:\tt\config.
  2. Stop GuardServer.
  3. Navigate to <drive letter>:\tt\bin.
  4. Double-click pMerge.exe. The Enter Exchange Name window appears.
  5. Specify the exchange name and flavor and click OK. The Open Guardian product table merge file window appears.
  6. Navigate to <drive letter>:\tt\config and select the TOCOM.pmg file.
  7. Note: pMerge will update the existing Guardian Product Table with the correct values. After pMerge completes its tasks, the pMerge status bar displays Finished.
  8. Close the pMerge status bar.
  9. Start GuardServer.

The above-listed steps need to be repeated for each TOCOM Gateway.

After pMerge runs, verify that the Guardian Product Table contains the following values:

Product Symbol Point Value
Area Price(East) Futures/Base Load TEBL 1000
Area Price(East) Futures/Peak Load TEPL 1000
Area Price(West) Futures/Base Load TWBL 1000
Area Price(West) Futures/Peak Load TWPL 1000


TT Platform Impact
Products will be available automatically. 


CME: Changes to User Defined Spreads Functionality and Resting Order Eliminations

Q3 2019

In Q3, CME will implement the following changes to User Defined Spreads (UDS) functionality on CME Globex:

  • Performance changes
  • Improved spread recognition logic
  • Extended timing for UDS creation
  • Effects of UDS creation in non-open market states
  • Changes to tag 5979-RequestTime value
  • Harmonization of SecurityID Source values

To facilitate this change, customers will need to cancel all Good ‘Till Cancel (GTC) and Good ‘Till Date (GTD) orders for UDS for only the affected products by the close on the Friday before the production launch. After 4:00 CT on the specified Friday, any remaining GT orders on UDS will be cancelled or deleted by the CME Global Command Center (GCC).

X_TRADER and TT Platform Impacts
Cancel GTC and GTD orders for UDS for affected products. 

Additional Resources
Globex Notices August 12, 2019


Eurex: T7 8.0 Upgrade

November 18

Eurex will upgrade to T7 Release 8.0 on November 18. In preparation, the Eurex Simulation environment will be unavailable from August 23 to September 9, when 8.0 will be available for development and testing.

Preliminary release notes from the exchange are available here.

X_TRADER Platform Impact
Prior to November 18, we will release TT Eurex Gateway 7.18.55 to support the T7 8.0 upgrade. Customers must upgrade to this version after the close on November 15 and prior to the market open on November 18.

We will deploy the 7.18.55 version to DDE for customer testing as soon as possible after the Simulation environment becomes available on September 9, however this is dependent upon completion of our own internal development and testing. Specific dates will be communicated once the timeline is available.

TT Platform Impact
We will deploy updated software to support the T7 8.0 release after the close on November 15. No customer action is necessary.

We will deploy updates to UAT for customer testing as soon as possible after the Simulation environment becomes available on September 9, however this is dependant upon completion of our own internal development and testing. Specific dates will be communicated once the timeline is available.


Euronext: Optiq Order Entry Gateway (OEG) Upgrade

November 25

Euronext will migrate from its existing UTP architecture to the new Optiq Order Entry Gateway (OEG) API on November 25. 

Please note that since this is a migration to a new architecture, customers will need to work with the exchange to provision new credentials. We will publish additional information for configuration of new sessions on both the TT and X_TRADER platforms at a later date. 

Euronext has announced that they will conduct two dress rehearsals on Saturdays leading up to the launch of the new API. Dates have yet to be announced.

X_TRADER Platform Impact
Prior to November 25, we will release NYSE Liffe Gateway 7.18.40 to support the Optiq OEG upgrade. Customers must upgrade to this version after the close on November 22 and prior to the market open on November 25. 

In October, we plan to make a preliminary version of NYSE Liffe Gateway 7.18.40 available for testing in Simulation/DDE and for use in the exchange dress rehearsals. 

TT Platform Impact
After the close on November 22, we will deploy updated software to support the Optiq OEG upgrade on November 25. 

In October, we plan to make a preliminary version of our software available for testing in UAT and for use in the exchange dress rehearsals. 

Additional Resources
Euronext Optiq Documentation Website


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. Additional information on this initiative from FIA may be found here.

Exchange-Specific Plans

  • CME: Effective November 17, CME will require the current iLink FIX tag 1031-CustOrderHandlingInst on certain messages. More details will follow. 
  • ICE: Tag 1031 is supported, but not required. It will be included on the TT platform in a Q4 ICE release.
  • Eurex: Tag 1031 is supported, but not required. 

X_TRADER Platform Impact
For CME, tag 1031 will be available for customer testing in DDE in early to mid-September. Final dates for customer testing availability will be provided in future updates.

TT Platform Impact
For CME, tag 1031 will be available for customer testing in UAT in mid-to-late September. Final dates for customer testing availability will be provided in future updates.

For ICE and Eurex, plans for support of tag 1031 on both the X_TRADER and TT platforms will be communicated in the near future.

Additional Resources
Globex Notices August 12, 2019

Product Releases

No new products were released this week.