SGX: New Product Additions
May 10
SGX will launch the following products on May 10, 2021:
| Product Name | Product Symbol |
|---|---|
| SGX USD/CNH (Mini) Futures | MUC |
| SGX USD/INR (USD) Options | INR |
| SGX Baltic Panamax 82 Route P2A Futures | 2AWF |
| SGX Baltic Panamax 82 Route P3A Futures | 3AWF |
| SGX Baltic Panamax 82 Route P2E Futures | 2EWF |
Also, the existing SGX USD/CNH Futures (Product Symbol: UC) will be renamed to SGX USD/CNH (Full-Sized) Futures.
TT Platform Impact
No action required; products will be available automatically.
Eurex: Change to Default MiFID Value Requirements
May 21
TT will remove default values sent on orders to Eurex, which had been implemented with the launch of MiFID II and were intended to ensure customer orders were not rejected at that time. Customers must ensure that these values are correctly populated as of that date:
- Trading Capacity
- Client ID
- Liquidity Provision
- Execution Decision ID
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.
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
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.
ICE: UK Emission Products
May 19
ICE plans to launch ICE UK Allowance (UKA) Futures contracts on May 19, 2021, coinciding with the launch of the first auction, with UKA Daily Futures (DUK) following on May 21, 2021, subject to regulatory approval. ICE UKA Futures and UKA Daily Futures (DUK) will trade on ICE Futures Europe.
TT Platform Impact
TT will do the required configuration and mapping changes to subscribe to the newly added Market Types for ICE. The products will be tradable on Day1 after the launch.
Additional Resources
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 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.
Additional Resources
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.
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 will provide information relevant to planning, schedules, client impact and testing availability (for both UAT and Production Weekend Tests) in the near future.
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.