ICE: Transition of European Union Emission Allowance Contracts to ICE Endex
June 7
ICE has determined that the trading of the existing EU Emissions Allowance (“EUA”) Futures and Options products be transitioned from IFEU to NDEX, but continue to be cleared by ICE Clear Europe (“ICEU”), during the second quarter of 2021. The transition date has been decided as June 07, 2021.
The summary of the changes can be found in the below table where the products and the corresponding market data group could be referred.
Products | Market Type ID | Existing Market Data group | New Market Data group | |
---|---|---|---|---|
ECF | EUA Future | 12 | IFEC (IFEU Commodities) | ENDEX (ICE Endex) |
EFO | EUA Futures Options (Futures StyleMargin) | 12 | IFEC (IFEU Commodities) | ENDEX (ICE Endex) |
ECP | ICE EUA Daily Futures | 12 | IFEC (IFEU Commodities) | ENDEX (ICE Endex) |
CEU | EUAA Future | 84 | IFEC (IFEU Commodities) | ENDEX (ICE Endex) |
Customers need to subscribe to the ICE Endex market data group to be able to trade the Endex products.
Customers need to get in touch with the ICE account support to make sure that they have access to the new market data group in order to trade the above mentioned products.
ICE Trading Support (SMA and LMA Account set up)
John Rohrer
+1 (770) 857-2487
john.rohrer@theice.com
Winston Garth
+1 (770) 857-2549
winston.garth@theice.com
TT Platform Impact
TT will do the required software changes to map the products to the correct market data group on TT platform. The products will be tradable on Day1 after the transition. The products will be available in the UAT environment on May 14, 2021.
Additional Resources
Eurex: Migration of FX Derivatives to the Standard T7 Trading System
June 28
As of May 15, Eurex will transfer its FX derivatives from the T7/FX trading system to its standard T7 trading system. Additional information from the exchange may be found here.
TT Platform Impact
TT will support the migration of the Eurex FX products to Eurex along with the T7 9.1 update occurring in production on June 28. Additional information on configuration will be provided as we approach the date.
CurveGlobal: Modifications to TVTIC
July 12
On July 12, CurveGlobal will implement their SOLA CG21Aa functional release. As part of this new release, the Trading Venue Transaction Identification Code (TVTIC) value will no longer be disseminated via the FIX and SAIL trading interfaces, and must be created using values documented in the specification.
TT Platform Impact
TT will introduce software changes in order to continue to provide customers with correct TVTIC values. No customer action is required.
ICE: STPF and Manual Order Indicator Support
Q2
ICE Self Trade Prevention Functionality will be available on the TT platform in Q2. There will be settings in TTUS to provide the STP ID and the instructions.
1. Self Match Prevention ID
2. Self Match Prevention 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 in Q2. This field is an optional field for ICE as of now.
Both the features mentioned above are part of ICE Q1 API upgrade and will only be supported on the TT platform.
SGX: Titan DT/DC Service Release 8
July 26
SGX is planning for Titan Service Release 8 for OMnet Applications on July 26, 2021. TT will communicate enhancements we will support in the near future.
X_TRADER Platform Impact
Service Release 8 will not be supported on X_TRADER.
TT Platform Impact
Service Release 8 will be supported in the UAT environment.
SGX: Industry-Wide BCP Test
August 21
SGX will be conducting a BCP Test on Saturday, August 21st. 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.
MX: Asian Hours Initiative
September 19
As of September 19, 2021, 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)
Additional Resources
MX Notice of Date Change – Circular 063-21
OSE & TOCOM: J-GATE 3.0 API Upgrade
September 21
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.
TT Platform Impact
TT will provide information relevant to planning, schedules, client impact and testing availability (for both UAT and Production Weekend Tests) in the near future.
Access to The Japan Exchange’s new J-GATE 3.0 API will be available on the TT platform in UAT and Production starting from May 17 (please note that order entry and market data will be available in the Production Environment on predesignated exchange holiday test days only).
The initial release of JPX will be provided for the purpose of completing Holiday/Weekend Testing as mandated by the exchange. Customers should be aware that initial releases may differ from final production release versions and should not be used for verifying functionality outside of what’s outlined in Holiday/Weekend Testing test plans.
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 – 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.
We will publish additional upcoming dates in a future notice. Please be advised that customers who wish to participate in future weeknd testing should contact their TT Onboarding representative a month prior in order to register their interest. TT’s participation in this testing is dependent upon sufficient customer registration, and may be cancelled due to insufficient interest.
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.