EEX: Adjustment of the Settlement Window for Power Derivatives
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
In preparation for the launch of SGX Gift City, the exchange will conduct a Mock Trading Test in the Production Environment on July 9, 2022 from 12:00 p.m. until 7:30 p.m. SGT. 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.
GIFT Connect Newsletter #5 – Mock Trading and Go Live Readiness
SGX: Gift City Market Launch
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. As per the official exchange announcement on June 24, 2022, the launch of GIFT Connect has been revised from July 22, 2022 to July 15, 2022.
TT is currently preparing for the launch with the introduction of our new “SGX_GIFT” market, which is now available for testing in the UAT test environment.
For detailed information about SGX Gift City on the TT Platform, please refer to the SGX Gift City User Guide. 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.
Inauguration of SGX’s GIFT City office and the launch of GIFT Data Connect
GIFT Connect Newsletter #5 – Mock Trading and Go Live Readiness
TFEX: New Currency Futures
July 18 Postponed
TFEX has announced the introduction of four new Currency Futures with a launch date that has been postponed until further notice. The Product Codes will be listed as follows:
- EUR/THB Futures – “EUR”
- JPY/THB Futures – “JPY”
- EUR/USD Futures – “EURUSD”
- USD/JPY Futures – “USDJPY”
On May 2, the new products became 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.
CME: Changes to Silver and Copper Weekly Monday and Wednesday Options: Resting Order Eliminations
Effective Sunday, August 7 (trade date Monday, August 8) pending regulatory approval, the match algorithm for silver and copper weekly Monday and Wednesday options will be amended.
To facilitate this change, customers should cancel all Good ‘Til Cancel (GTC) and Good ‘Til Date (GTD) orders for these contracts by the close on Friday, August 5. After 16:00 CT on Friday, August 5, any remaining GT orders on these markets will be removed by CME.
TFEX: New Trading System IWT
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 during the first week of July.
All customers participating in IWT should contact the exchange Member Readiness Team (MME_MemberReadiness@set.or.th) directly to make arrangements.
SGX Titan: Industry-wide BCP Exercise
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.
CME: DR Datacenter Migration and Test
CME is announcing the move and upgrade of the backup datacenter. To ensure customers can connect to the new backup datacenter, CME will hold a Mock Disaster Recovery Test on Saturday, September 10.
Please note: TT will remain in our Production Environment for this test.
Customers must register in advance to participate.
JPX: Introduction of Holiday Trading
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
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.
FIA: Industry-Wide Testing
The Futures Industry Association will sponsor its annual Industry-Wide Disaster Recovery Testing (IWT) on Saturday, October 15. We will facilitate customer participation for registered TT platform customers.
Testing is available on the following exchanges:
- Montréal Exchange
Customers who plan to participate in the FIA IWT should contact their Onboarding Manager to register for testing and provide exchanges that will be tested along with Connection_IDs that will be used during the test.
Ping/telnet tests for CFE, CME and ICE exchanges will be completed by TT staff as required.
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 in mid July, date TBD.
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.
- 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.