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CME BrokerTec: DR Test

June 11

To help ensure readiness and provide an opportunity to test connectivity to DR systems, CME will hold Disaster Recovery (DR) Failover testing for BrokerTec US Markets on June 11, 2022.

This test will provide customers with a chance to test TT production connectivity to BrokerTec’s DR engines and customer gateways. 

Customers must register by June 5th, and each individual participant that will test must register with the login ID they will use (GFID and GUS) so it can be permissioned for Saturday testing. 

The market will open at 9:00am ET and close at 11:00am ET on Saturday, June 11th, or sooner should all registered firms complete testing before the scheduled close. The test window may be kept open through 12:00pm ET should any firms require additional time to test. 

Additional Resources

CME BrokerTec Disaster Recovery Test Script

CME: Sunsetting Eurodollar Options

June 13

Effective Sunday, June 12 (trade date Monday, June 13), Eurodollar and Mid Curve option quarterlies will be sunset, and no additional contracts expiring after June 16, 2023 will be listed. 

Additionally, serial and weekly Eurodollar options expiring prior to the June 2023 expiration will continue to be listed per product listing rules.

Please Note: All currently listed expirations will remain listed and continue to trade.

Additional Resources

Globex Notice: May 23, 2022

CME: Changes to Lead Month Roll Procedure for E-mini S&P 500 and Micro E-mini S&P 500 Futures

June 13

Effective Sunday, June 12 (trade date Monday, June 13), the lead month roll procedure for E-mini S&P 500 and Micro E-mini S&P 500 futures will be amended as follows: 

Product NameProduct SymbolCurrent Lead Month Roll ProcedureNew Lead Month Roll Procedure
E-mini S&P 500 Stock Price Index FuturesESLead month rolls quarterly effective on the Thursday one week prior to expirationLead month rolls quarterly effective on the Monday of the week of expiration
Micro E-mini S&P 500 Stock Price Index FuturesMESLead month rolls quarterly effective on the Thursday one week prior to expirationLead month rolls quarterly effective on the Monday of the week of expiration

Please Note: This change will be implemented for the June 2022 roll, making the March 2022 contracts the final roll using the existing procedure.

Additional Resources

Globex Notices: May 23, 2022

Eurex: Change of Partition ID and Multicast Addresses for the Product FESQ

June 13

Eurex is making configuration changes for the product FESQ in preparation for the introduction of an additional Inter-Product Spread. The partition ID and the multicast addresses for dissemination of market data via the Enhanced Market Data Interface (EMDI) and the Enhanced Order Book Interface (EOBI) will be reassigned. 

The new partition ID and multicast addresses will become effective in the production environment from the business day 13 June 2022 onwards. The reference data containing all the respective changes will be provided following the start of the T7 trading system for the business day Monday, 13 June 2022.

Required Action:

Moving products from one partition to another may lead to a scenario where GTC/GTD orders entered and owned by one high-frequency session come to reside on two different partitions. As a high-frequency session login is always partition-specific (via a partition-specific gateway), the respective owning session needs to login to the new partition to manage orders for products which have been moved. To manage orders for products which have not been moved, the owning session needs to login to the old partition.

Participants may require additional high frequency sessions for the new partition and must therefore ensure that they order them via the Member Section of Deutsche Borse Group. New sessions ordered between Monday and Friday before 17:30 CE(S)T will become active on the next business day.

ProductOld PartitionNew Partition

CME: Renaming Bursa Malaysia Crude Palm Oil – Gasoil Spread Futures

June 13

Effective this Sunday, June 12 (trade date Monday, June 13) the Bursa Malaysia Crude Palm Oil Gasoil Spread futures will be renamed to USD Malaysian Crude Palm Oil – European Low Sulphur Gasoil Spread futures.

ICE: Introduction of IFAD Murban/IFEU Dubai (Platts) 1st Line Futures spreads

June 13

ICE Futures Europe will make available the following additional Interexchange Strategies with legs in Contracts on ICE Futures Abu Dhabi (“IFAD”) and IFEU on Monday 13 June 2022.

Strategy NameHub NameLeg 1Leg 1 MICLeg 2Leg 2 MIC
Murban Crude/Dubai (Platts)1st Line Futures SpreadAbu Dhabi/Dubai1st LineMurban Crude OilFutures (ADM)IFADDubai (Platts) 1stLine Future (DBI)IFEU
Murban Singapore Marker1st Line/Dubai (Platts) 1stLine Futures SpreadMurban SingMarker 1stLine/Dubai 1st LineMurban SingaporeMarker 1st LineFuture (ADG)IFADDubai (Platts) 1stLine Future (DBI)IFEU

These spreads will be available on the TT platform for set up and trading starting from Monday trading session. 

Eurex/EEX: T7 10.1 Upgrade

June 27

Eurex has upgraded to the 10.1 version in Simulation, and TT will support this upgrade in UAT in the first week of May. Please note: this upgrade no longer includes the NextGeneration ETD Contracts (see below for more information). 

EEX: Adjustment of the Settlement Window for Power Derivatives

July 4

For all power markets except Japan, the current settlement window between 15:50 – 16:00 CET will be shifted to 16:20-16:30 CET. The change will be effective as of 4 July 2022. 

With this adjustment, EEX supports its market participants’ wish for a harmonized settlement window across the asset classes power, natural gas and emissions in a stepwise approach. The exchange envisages a further harmonization to a settlement window ending in 17:15 CET later this year.

SGX: Gift City Mock Trading

July 9, 16

In preparation for the launch of SGX Gift City, the exchange will conduct Mock Trading Tests in the Production Environment on July 9 and July 16, 2022. Test details and a rundown plan will be made available as the test date approaches. TT will provide additional details about planning and Production Environment preparation in advance of the test.

TFEX: New Currency Futures

July 18

TFEX has announced the introduction of four new Currency Futures with a tentative launch date of July 18, 2022. The Product Codes will be listed as follows:

  • EUR/THB Futures – “EUR”
  • JPY/THB Futures – “JPY”
  • EUR/USD Futures – “EURUSD” 
  • USD/JPY Futures – “USDJPY”

Starting from May 2, the new products will be available in UAT for testing and also for access by Brokers for the purpose of verification and submission of the readiness survey to the exchange.

SGX: Gift City Market Launch

July 22

SGX and NSE IFSC announced their partnership in 2019, which is now culminating in the launch of the SGX Gift City market, providing SGX members with offshore access to the NSE Nifty market on a new platform that is mutually beneficial to both exchanges. The exchange launch is currently scheduled for July 22 2022.

TT is currently preparing for the launch with the introduction of our new “SGX_GIFT” market, which is now available in the UAT test environment.

All participants performing testing on SGX_GIFT in UAT should please note the following:

  1. The initial availability of SGX_GIFT in UAT is not the final production release version.
  2. Although there will be no major changes in fundamental features and functionality following this initial release, minor changes to behavior and/or non-critical field values should be expected.
  3. TT will announce when the final production-ready version is ready for deployment, and kindly asks that Brokers and End Users refrain from contacting Support to report issues / bugs / incidents until after the final production-ready version is available.

Availability of the final production-ready version of SGX Gift City will be announced via System News.

Additional Resources

Inauguration of SGX’s GIFT City office and the launch of GIFT Data Connect

TFEX: New Trading System IWT

August 8

TFEX has announced the start of IWT for their next generation trading system. IWT for the TFEX Derivatives market begins on August 8 2022 and participation is mandatory for all Brokers.

TT is currently working to prepare access to the IWT Testing system via our UAT test environment. Details about how to prepare for IWT and access the environment will be forthcoming within the next two weeks.

All customers participating in IWT should contact the exchange Member Readiness Team ( directly to make arrangements.

SGX: Industry-wide BCP Exercise

August 27

SGX is conducting an Industry-Wide Business Continuity Planning Exercise scheduled for Saturday, 27 August 2022. All Singapore-based Securities and Derivatives Trading, and Clearing Members are required to participate in this exercise.

Additional details about connecting to TT for participation will be provided in due course.

JPX: Introduction of Holiday Trading

September 20

JPX has announced the introduction of Holiday Trading with a launch date of September 20 2022. This new exchange initiative will allow trading during Japan public holidays for Index Futures and Options and all Commodity Futures and Options (including TOCOM products). Securities Options, JGB Futures and Options on JGB Futures will not be tradable during holidays.

For support of order management and trading during holidays, changes to TT Order Connector (OC) are currently in progress and will be deployed to UAT for testing as soon as possible. To ensure correct display of trading status during holidays, a TT Market Data Server (MDS) change is needed. This MDS change is now available for testing in UAT.

For detailed information about JPX Holiday Trading on the TT Platform, please refer to the JPX Holiday Trading document. This document will be kept up to date with the latest information as it becomes available, so customers are encouraged to check periodically to get the newest updates.

JPX: System Reboot

September 20

JPX has announced the introduction of Recovery by system reboot with a launch date of September 20 2022. This new exchange initiative is to allow the exchange to resume trading following certain failure scenarios. JPX is rolling this out as a response to Arrowhead failures experienced by the exchange during the 2021 Calendar year.

TT Platform will fully support all elements of the System Reboot process including all sequence number changes, settlement price updates and post-reboot order workflow. TT Business and Engineering Teams will coordinate efforts to verify correct platform response during the pre-scheduled test environment weekday test events.

Eurex: Next Generation ETD Contracts

February 6, 2023

Eurex is aiming to introduce a more flexible set-up of Exchange Traded Derivatives (ETD) products by implementing an enhanced contract identification concept in February 2023 allowing more than one expiration per month on product level (sub-monthly contracts).

New features, changes and improvements:

  • Integration of Weekly Expiring Instruments on Product Level
  • Volatility Strategies in Single Stock Options
  • Market-On-Close Futures T+X (Basis Trading in Equity Index Futures)

Weekly contracts will follow the new format of DDMMYYYY (current format: MMYYY), and will be listed under the same Product symbol as the Monthly contracts. 

Example: OEB1, OEB2, OEB3, OEB4 will be listed under the OESB Product Symbol, and will be sequentially integrated. 

Monthly Option: OESB Sep22

Sub-monthly Options, Week 1-5): OESB Sep22-W1Fr, OESB Sep22-W2Fr, OESB Sep22-W3Fr, OESB Sep22-W4Fr, OESB Sep22-W5Fr

Market on Close T+X will be eligible for MSCI Futures. An example is the following:

On T, Client trades the calendar between the daily future (T+1) and the standard future. After the T+1 session, the index close of T+1 is published by MSCI. On T+2, the T+1 index close is entered as the Final Settlement Price for the daily future. At the end, the Client has paid basis + index close for the standard future. 

TT will support the sub-monthly contracts and T+X MSCI Futures in the UAT environment shortly after the T7 10.1 Upgrade on June 27, 2022. More details on the Production rollout plan will be confirmed after UAT support has been added.

Additional Resources

Eurex Circular

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, but is not required.
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