HKEX: New Product Addition: Physically Settled Options on HSI and HSCEI Futures
HKEX is introducing Physically Settled Options on Futures Contracts on Hang Seng Index (HSI) Futures and Hang Seng China Enterprises Index (HSCEI) Futures on August 23, 2021.
|Product Name||Product Symbol|
|Hang Seng Index Futures Options||PHH|
|Hang Seng China Enterprises Index Futures Options||PHS|
TT FIX: SSL Certificate Update
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.
At end-of-day August 13, 2021, TT will update the stunnel.zip file located in the TT Help Library in order to update the soon-to-be-expired certs in the TTFIX.crt bundle. All customers who use STunnel will need to download a new zip file and apply it prior to September 20, 2021.
- Added TT Platform STAR.TRADE.TT expiry September 4, 2022 (DC)
- Removed the GoDaddy root CA certificate
Directions for configuring stunnel with TTFIX.crt
ICE: STPF and Manual Order Indicator Support
ICE Self Trade Prevention Functionality will be available on the TT platform in August 2021. The feature is already available in the UAT environment. There will be settings in TTUS to provide the STP ID and the instructions.
1. SMP ID
2. SMP Instruction
- R= Cancel Resting order
- T=Cancel Taker order
- B= Cancel Both orders
ICE has started supporting the field Manual Order Indicator, Tag 1028, to indicate if an order originated from an automated trading system or if the order was manually keyed in. TT will support this field towards the end of August. The feature is already available in the UAT environment. This field is an optional field for ICE as of now.
CEDX: Cboe Europe Derivatives Exchange
Mock Test – August 21
Go-Live – September 6
TT will support the new market CEDX (Cboe Europe Derivatives Exchange) on its platform which goes live on September 6, 2021. The products supported on TT will be Futures, Options, Spreads and Strategies for CEDX.
CEDX will be conducting a Dress Rehearsal test on Aug 21 and another one on September 4. There will be order entry and trading simulations in those tests.
TT Platform Impact
TT will be participating in the Dress Rehearsal on Saturday, Aug 21. Customers who will be participating should register with the exchange and contact their TT Onboarding Manager for more details.
SGX: Industry-Wide BCP Test
SGX will be conducting a BCP Test on Saturday, August 21. SGX will simulate an intra-day failure at the Primary Data Center. Participants will test order functionality during this test.
TT Platform Impact
TT will be participating in this test. Customers who will be participating should register with the exchange and contact their Onboarding Manager for more details.
TT FIX: MaturityMonthYear Changes
TT is making changes to our Security Master database (PDS) to synchronize the month and year values displayed in the TT Trading GUI (PDS Alias field) with TT FIX tags 200, MaturityMonthYear, and 610, LegMaturityMonthYear values for all FIX order routing, drop copy, market data and security definition messages.
PDS has introduced a new field, ContractDisplayDate, (CDD), which will contain the month & year values from the Alias field. PDS will be rolling out this change market-by-market, beginning with TOCOM & OSE. Support for PDS CDD in additional markets will be announced in the coming months.
In TT FIX v158 & higher, when the PDS CDD field is present on an instrument, TT FIX will map CDD to tags 200 & 610 on all relevant inbound & outbound messages. When CDD is not present, the existing mapping to PDS Maturity Date will continue as currently implemented.
The TT FIX v158 production upgrades beginning August 6 will have this feature disabled, while v158 in UAT will continue to have it enabled. TT plans to begin enabling the feature in production on August 27. Internal Ref ID: 132009
TT Platform Impact
Customers trading OSE and or TOCOM are strongly encouraged to test their FIX applications prior to the August 27 rollout date to ensure integration with the new behavior. Please reach out to your TT Customer Representative or email firstname.lastname@example.org with any questions or concerns.
MX: Asian Hours Initiative
As of September 19, the trading day opening time for the following products will change from 2:00am ET to 8:00pm ET (T-1):
Interest Rate Derivatives (CRA, BAX, OBX, CGZ, CGF, CGB, OGB, LGB)
Index Futures & Sector Index Futures (SXF, SXM, SMJ, SCF, SXA, SXB, SXH, SXK, SXU, SXY, SEG)
The UAT environment will support the new trading hours in upcoming weeks.
MX Notice of Date Change – Circular 063-21
OSE & TOCOM: J-GATE 3.0 API Upgrade
Osaka Exchange (OSE) and Tokyo Commodity Exchange (TOCOM) have announced that the production launch of the next-generation derivatives trading system, J-GATE 3.0, will be on September 21.
Access to The Japan Exchange’s new J-GATE 3.0 API is now available via market ID, “JPX” on the TT platform in UAT and Production. Order entry and market data will be available in the Production Environment on predesignated exchange holiday test days only.
If any issues are observed during system testing in UAT or during Production testing, TT asks that users please report their findings to the Support Center. TT will deliver up-to-date changes and fixes for user acceptance testing as they become available.
Upcoming Exchange Holiday Tests
TT will support testing on the below listed dates:
May 23 – COMPLETED – First day of Exchange Holiday Test availability in Production on the TT platform. Participation is not mandatory and can be arranged at Users’ discretion.
June 6 – COMPLETED – TAP Failure Test – Mandatory for all customers assigned to Network Gateways having a Network Gateway name that contains even digits e.g.: API02, API04, etc.
June 27 – COMPLETED – Matching Engine Failover, Price Dissemination, ITCH Failure and Rush Tests. All testing will be handled internally by TT staff. Customer participation is not required.
July 4 – COMPLETED – TAP Failure Test – Mandatory for all customers assigned to Network Gateways having a Network Gateway name that contains odd digits e.g.,: API01, API03
July 18 – COMPLETED – Matching Engine Failover, Price Dissemination, ITCH Failure and Rush Tests. All testing will be handled internally by TT staff. Customer participation is not required.
July 24 – COMPLETED – Disaster Recovery Site Failover. Customer participation is not mandatory, or required. As this is the only chance to test DR failover in Production prior to Go Live, TT staff is taking care to ensure DR Failover systems are fully exercised.
August 1 – COMPLETED – TAP Failure Test – Network Gateways having a Network Gateway name that contains even digits e.g.: API02, API04, etc. will undergo failure testing. Mandatory for all customers who did not complete TAP Failure testing during the June 6 weekend test.
August 8 – COMPLETED – TAP Failure Test – Network Gateways having a Network Gateway name that contains odd digits e.g.,: API01, API03, etc. will undergo failure testing. Mandatory for all customers who did not complete TAP Failure testing during the July 4 weekend test.
August 22 – Matching Engine Failover, Price Dissemination, ITCH Failure and Rush Tests. All testing will be handled internally by TT staff. Customer participation is not required.
September 19 – Go-live rehearsal.
Eurex: T7 10.0 Upgrade
Deutsche Börse plans to introduce T7 Release 10.0 on November 22. The simulation period for T7 Release 10.0 is planned to start on September 13. Additional information from the exchange may be found here.
With this upgrade, Eurex will require that Order Routing System (ORS) providers and users comply with the amended rules and the associated identification obligation that will become effective for Exchange Participants as of 22 November 2021 with T7 Release 10.0. As a result, customers will be conditionally required to provide exchange Member and Trader information on order entry in Tag 2404 ‘ComplianceText’. Details on this initiative may be found here.
TT Platform Impact
TT will support required changes resulting from the T7 10.0 upgrade. Additional details will be provided in September, along with availability in Simulation.
CME: Bursa Malaysia Derivatives (BMD) Night Trading Session
Bursa Malaysia Derivatives (BMD) will add a night trading session for all active products on CME Globex. Due to the time difference between Malaysian time and Central time, the night trading session activities will begin the business day prior to actual trade date in Malaysian time. The new night trading session will be open for trading Monday – Thursday. There will be no Friday night trading session. Hours will be 21:00:00 hours to 23:30:00 hours (Malaysia time). See Additional Resources for more information.
TT Platform Impact
TT will support the night trading hours. This is available for testing in UAT.
CME Globex Notice August 16, 2021
Nasdaq: Nordic Equity Derivatives Trading Replatform
February 21, 2022
High level details on this initiative from the exchange:
Nasdaq is migrating our Nordic Equity Derivatives markets, currently on the Genium INET platform, to a new Global Derivatives Trading System based on INET technology that leverages our Nasdaq Financial Framework (NFF). This Nasdaq next-generation platform is a solution based on global financial standards, for stable, flexible and high-speed services. The new framework with its powerful core technology and standardized access to Nordic liquidity, will in the coming years be the common technical platform utilized across all Nasdaq’s U.S. and European markets and asset classes.
The migration of equity derivatives to the new trading platform is scheduled for implementation on February 21, 2022. Please note that equity derivatives will continue to be cleared in Genium INET after the trading re-platform.
Additional details may be found here.
TT Platform Impact
TT will support this upgrade, and will support NASDAQ’s FIX API for order entry.
Additional details on availability in UAT will be provided later this year.
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 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.