- SGX: Patching activity for SGX member facing devices
- Eurex/KRX: South Korean Exam Day
- Eurex/EEX: T7 Release 12.0
- Cboe Europe (CEDX) Annual Disaster Recovery Test
- SGX: Titan DT/DC Update
- TFEX: Extended Trading Hours
- Eurex/EEX: ETI TLS Encryption
- JPX: Implementation of Roman Alphabet Characters in Securities Code
- CME: Mandatory Migration – iLink3 Binary Order Entry Protocol for CGW
- JPX: Addition of Prime 150 Index Futures
- JPX: Addition of Weekly Contracts on Electricity Futures
- JPX: Revision of Tick Size for LNG Futures
- IDEM: Migration to Euronext
- Euronext: Support for Euronext’s STP functionality
- HKEX: Self-Match Prevention Service Enhancements
- LME: New Trading Platform
- TFEX: New Currency Futures
- JPX: Change of Derivatives Market Trading Hours
SGX: Patching activity for SGX member facing devices
Q4
SGX has recently started sending out notifications to inform Members that the exchange is scheduling maintenance activity on devices used by Members in the Secondary and Primary Data Centers.
SGX is scheduling all such maintenance activity during the afternoon/evening hours on Saturdays, usually 3:00 pm to 11:30 pm.
There is no impact to the TT platform since TT services are shut down during the affected time periods. As always, services will be closely monitored during start-up and any irregularities will be recognized and resolved immediately.
Eurex/KRX: South Korean Exam Day
November 16
Due to the South Korean Exam Day ( Day of College Scholastic Ability Test ) on 16 November 2023, changes to the starting times for Pre-Trading and Continuous Trading will apply that day for trading of the Eurex KOSPI Derivatives (FMK2, FBK2, OKS2, OKW4, OKM3) and for trading of the Eurex USD/KRW Derivatives (FCUW).
| Eurex | Time on 16 November | Regular Time |
| Pre-Trading | 10:30 CET | 09:30 CET |
| Continuous Trading | 11:00 CET | 10:00 CET |
| KRX KOSPI, KOSDAQ, KRX300 | Time on 16 November | Regular Time |
| Pre-Trading | 09:45 KST | 08:45 KST |
| Continuous Trading | 10:00 KST | 09:00 KST |
| Close | 16:45 KST | 15:45 KST |
| KRX Single Stock, Div, Bond | Time on 16 November | Regular Time |
| Pre-Trading | 10:00 KST | 09:00 KST |
| Continuous Trading | 10:15 KST | 09:15 KST |
| Close | 16:45 KST | 15:45 KST |
| KRX Cash | Time on 16 November | Regular Time |
| Pre-Trading | 10:00 KST | 09:00 KST |
| Continuous Trading | 10:15 KST | 09:15 KST |
| Close | 15:45 KST | 15:45 KST |
The times of all other Eurex trading phases on 16 November 2023 follow the regular schedule which is available on the Eurex website www.eurex.com under this link: Markets > Equity Index > Eurex KOSPI Products
The times of all other KRX trading phases on 16 November 2023 follow the regular schedule which is available on the KRX website global.krx.co.kr under this link: Regulation > Derivatives > Trading-Regular Session > Trading Hours.
Eurex/EEX: T7 Release 12.0
November 20
Eurex will upgrade to T7 version 12.0 on November 20 2023. Eurex simulation is available on the TT Platform, and customers are encouraged to perform testing before the production date.
With this release, Eurex has implemented additional MiFID/MiFIR restrictions. Please find more information about the MiFID II / MiFIR flagging scenarios under eurex.com > Rules & Regs > MiFID II / MiFIR > MiFID II / MiFIR > Client & Member Reference Data > MiFID II / MiFIR Flagging Requirements – Execution decision, investment decision, client ID and DMA.
A high level summary of these MiFID changes from Eurex is as follows:
With T7 Release 12.0, Eurex will introduce a dedicated validation scheme for the fields Execution ID, Investment Decision ID and Client ID in all trading interfaces. The validation scheme relates to the submission requirements of the short code and algo ID information in the transactions. For better readability, the term “short code” shall hereafter also include the algo ID. The following validations will be in place:
- Execution ID
- The submission of a short code will always be mandatory regardless of the used Trading Capacity
- Investment Decision ID
- For the trading capacities Proprietary, Broker Dealer, Market Making and Retail Market Making, the submission of a short code will always be mandatory
- For the trading capacities Agency, Riskless Principal and Retail Agency, the submission of a short code will be optional
- Please Note: If either a short code or a qualifier is set, the submission of both short code and qualifier will become mandatory even when transactions are submitted using the trading capacities Agency, Riskless Principal or Retail Agency
- Client ID
- For the trading capacities Agency, Riskless Principal and Retail Agency, the submission of a short code will be required
- For the trading capacities Proprietary, Broker Dealer, Market Making and Retail Market Making, the short code will need to be empty
It is highly recommended that customers verify their MiFID field configuration in UAT prior to November 20 to ensure a smooth transition.
The following features introduced in this release by Eurex will NOT be supported by TT on release:
- Delta Neutral Total Return Futures trade entry
- New Crossing Procedure and Pre-Arranged Trade Entry
- Buy-Side Trading Disclosure client identification via the Legal Entity Identification
Cboe Europe (CEDX) Annual Disaster Recovery Test
November 25
On Saturday, 25th November 2023, Cboe Europe (Cboe) will be conducting its annual disaster recovery (DR) test for the Production BXE, CXE, DXE, TRF, SIS (Equities) and CEDX (Derivatives) environments. TT will be participating in the CEDX Annual DR test.
SGX: Titan DT/DC Update
November 27
In recent newsletters (“Titan DTDC Newsletter – Proposed T+1 Trading for United States Single Stock Futures”) SGX announced plans to extend trading hours for United States Single Stock Futures (Grab, SEA and TSMC Futures) into the T+1 session, with an effective date of November 27, 2023.
As part of the implementation for this change, the exchange is making several changes to the behavior of OAPI messages, including the dissemination of Instrument Status (Trading Status) messages.
TT Platform Impact
There is no impact to the TT platform. All of the Titan DT/DC Update changes will be supported on TT automatically; no software changes are required. Customers are welcome to confirm the changes in the TT UAT environment, following the schedule outlined by the exchange in the “Session State Timings in Member Test Environment (MTE)” section of the newsletter.
TFEX: Extended Trading Hours
November 27
TFEX has announced tentative plans for an extension of trading hours for Non-Equity Products effective November 20 27, 2023. The exchange is planning a 2-phased approach for implementation of the changes. Q4 is the tentative schedule for Phase 1; Phase 2 is still under consideration by the exchange.
The exchange requires that Members verify the new trading hours in the TFEX “NEXT-B” Test Environment starting from September 4, 2023. Members may complete testing at any time (pending exchange availability of the feature) in the TT UAT “TFEX_DEV” Environment.
TT Platform Impact
There is no impact to the TT platform. Since TT TFEX services already stay connected to the exchange past the new Non-Equity Products‘ closing time, no changes are required.
Eurex/EEX: ETI TLS Encryption
December
Eurex has implemented mandatory changes regarding data transmission via the T7 trading interfaces. These changes have been made to improve the security of information transmitted via communication networks to further reduce the risk of unauthorized interception, manipulation, or misuse.
Changes will be made by TT to meet these requirements. These changes will be mandatory on the following dates:
| Interface | Mandatory In Simulation | Mandatory in Production |
| ETI LF | 04 August 2023 | 23 October 2023 |
| ETI HF | 24 November 2023 | 11 December 2023 |
These changes are complete in Production.
JPX: Implementation of Roman Alphabet Characters in Securities Code
January 1, 2024
JPX has announced an upcoming change to the formation of Securities Codes for new instruments. After the changes, Securities Codess will include Roman Alphabet Characters and the change will go live starting from January 1, 2024.
TT Platform Impact
There is no impact to the TT platform. Because the TT platform uses internally-generated “instrument IDs” for tracking instruments throughout the system and does not use JPX Securities Codes for functionality, no changes are required.
CME: Mandatory Migration – iLink3 Binary Order Entry Protocol for CGW
February 4, 2024
CME is introducing iLink3 on Convenience Gateways (CGW) for trading futures and options on CME Globex. The iLink3 protocol will launch on the existing CGWs beginning Q1 2024. All customers connected via CGW will need to migrate to iLink3 by Q4 2024. More details will follow in upcoming System Updates.
JPX: Addition of Prime 150 Index Futures
March 18, 2024
JPX has announced the Addition of Prime 150 Index Futures with an effective date of March 18, 2024. The product code for the new product is JP150 and it will be available for testing in UAT starting from mid-to-late December, 2023. For Production, Prime 150 Index Futures will be available on TT for Risk Limit setup and other configurations starting from January 15, 2024.
Additional Resources
- English: Data & Statistics: JPX Prime 150 Index
- 日本語: マーケット情報： JPXプライム150指数
JPX: Addition of Weekly Contracts on Electricity Futures
March 18, 2024
JPX has announced the Addition of Weekly Contracts on Electricity Futures with an effective date of March 18, 2024. The product codes are listed below and they will be available for testing in UAT starting from mid-to-late December, 2023. For Production, the products will be available on TT for Risk Limit setup and other configurations starting from January 15, 2024.
- EEBW (East Area Weekly Baseload Electricity Futures)
- EWBW (West Area Weekly Baseload Electricity Futures)
- EEPW (East Area Weekly Peakload Electricity Futures)
- EWPW (West Area Weekly Peakload Electricity Futures)
Additional Resources
- English: Addition of Weekly Contracts on Electricity Futures and Revision of Tick Size for LNG Futures
- 日本語: 電力先物に係る週間物取引の追加及びＬＮＧ先物の呼値の単位の見直しについて
JPX: Revision of Tick Size for LNG Futures
March 18, 2024
JPX has announced a change of Tick Size for LNG Futures with an effective date of March 18, 2024. Tick Size changes are routine changes on the TT Platform and as such the updates will be applied to all TT environments automatically, immediately upon being sent out on the exchange’s Market Data Feed. The changes will be available for testing in UAT starting from December 6, 2023. The changes will be available in Production starting from March 18, 2024.
Additional Resources
- English: Addition of Weekly Contracts on Electricity Futures and Revision of Tick Size for LNG Futures
- 日本語: 電力先物に係る週間物取引の追加及びＬＮＧ先物の呼値の単位の見直しについて
IDEM: Migration to Euronext
March 25, 2024
IDEM products will be migrating to Euronext on March 25, 2024. On TT, these products will be available to trade under the Euronext exchange post this migration. In addition to existing Euronext order types of Market and Limit, Stop Market and Stop Limit will be allowed for IDEM derivatives. TT also plans to support the Euronext STP functionality, which will be applicable to IDEM products too. TT will release these changes in the TT UAT environment in 2 phases –
- Phase 1 – IDEM products will be available to trade on Euronext through TT in the UAT environment in Dec 2023. TT will not support Stop orders and Euronext’s STP functionality in this phase.
- Phase 2 – Stop orders and the STP functionality will be supported on the TT UAT environment for IDEM products on Euronext in Jan 2024.
Further details and the exact dates around this migration will be communicated in subsequent System News.
Euronext: Support for Euronext’s STP functionality
March 25, 2024
TT will extend support to Euronext exchange’s STP functionality on 25 March 2024. This will be available to test on TT UAT environment in Jan 2024. On TT User Setup, users can set the SMP ID and SMP Instruction for this functionality to take effect. SMP Instruction can be set to any of the below options –
- Cancel Resting Order
- Cancel Incoming Order
- Cancel Both Orders
HKEX: Self-Match Prevention Service Enhancements
Q2, 2024
HKEX has announced enhancements to their Self-Match Prevention Service which will expand the methods of utilizing and accessing the SMP feature. The enhancements have a tentative Go Live date in Q2 2024.
At this time, TT is evaluating the changes to the API and will communicate plans for support of these enhancements in the near future. The already-existing HKEX SMP implementation will continue to operate normally, with no changes, both before and after the rollout of the exchange’s new enhancements.
LME: New Trading Platform
April 2024
LME will be introducing a new API for Order Entry and Market Data in Q2/2024. This will be made available in the UAT environment in Q4/2023. More information will be provided in upcoming System News and Updates.
TFEX: New Currency Futures
Q2-Q3, 2024
TFEX has announced plans for a production launch of the new Thailand Currency Futures with a tentative date of November 20, 2023 Q2-Q3, 2024. These are the same Currency Futures that were originally scheduled for launch in July of 2022 and Members already verified them during the 2022 IWT – MME testing.
Since the TT platform was fully updated for handling the products prior to the 2022 IWT tests, no further software changes are required on the TT side at this time. The Product Codes are as follows:
- EUR/THB Futures – “EUR”
- JPY/THB Futures – “JPY”
The exchange requires that Members verify the new Currency Futures in the TFEX “NEXT-B” Test Environment starting from September 4, 2023. Members may complete testing at any time (pending exchange availability of the feature) in the TT UAT “TFEX_DEV” Environment.
JPX: Change of Derivatives Market Trading Hours
November 5, 2024
JPX has announced that starting from November 5, 2024 there will be a change of trading Hours for the Exchange Derivatives Market due to extension of Trading Hours at TSE. Details about changes to the TT platform and availability of testing in UAT will be posted here in System News as they emerge.