- TTFIX.crt: Update Notice
- BIST: BISTECH 3.0
- SGX_GIFT: GIFT Connect Service Release 1
- SGX_GIFT: Full-scale Operation of NSE IFSC-SGX
- NSE: BANKNIFTY Contract Expiry Revision
- BIST: BISTECH 3.0 Dress Rehearsal 2
- KRX: Derivatives Market Rules Improvements
- Eurex: NextGen ETD new OEXP Daily Options
- SGX : Titan DT/DC Hardware Refresh
- Eurex/EEX: ETI TLS Encryption
- CME: Mandatory Migration – iLink3 Binary Order Entry Protocol for CGW
- IDEM: Migration to Euronext
TTFIX.crt: Update Notice
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.
On June 22, 2023, TT updated 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 TT customers who use STunnel must download the new zip file and apply it at any time before August 12, 2023. Please note that the old certificates expire on August 12.
Added TT Platform STAR.TRADE.TT; valid from June 16, 2023 – June 15, 2024 (DC)
BIST: BISTECH 3.0
New Date, TBD
A new phase of the BISTECH system, called BISTECH 3.0, is announced to be launched by the exchange. The go live date for this, which was earlier planned for 12th June, has been pushed back by the exchange, and details on the new release date are awaited.
As part of this upgrade, the TT platform will support the connection changes required for the FIX Order Entry and TIP channels in the derivatives markets.
Equity Markets, Fixed Income Markets, Precious Metals Markets, exchange’s Drop Copy functionality and ITCH protocol for market data are not supported by the TT platform currently, and hence the TT platform will be unaffected by any changes to these.
On the last business day before the go live date, in preparation for the transition to BISTECH 3.0, there will be no evening session in the Derivatives market and all GTC, GTD and inactive Stop orders waiting in the system will be deleted by the exchange, and these will not be reinstated post the cutover. Hence, TT recommends that traders cancel such orders on or before this date.
On the go live date, company admins will need to update the order entry connection settings with the latest user details that they may have received from the exchange, in order to be able to enter orders post this change.
SGX_GIFT: GIFT Connect Service Release 1
SGX has announced plans to deploy a new system update, “GIFT Connect Service Release 1” with a target timeframe of June / July 2023 for production trading. TT has completed all required software changes and test verification for this update, and the TT UAT environment is available now to connect to the exchange’s Service Release 1 test environment. All customers who plan to conduct testing on their own are welcome to begin at any time.
To certify preparedness for SGX SR1, all Members are required to submit a declaration to the Exchange. The declaration can be found in Appendix 1 of “GIFT Connect Newsletter #7” on the SGX Gift Connect Portal here: GIFT Connect Service Release 1 Member Readiness Sign-Off. (Note that this is a password protected file . If you do not have the password, please reach out to your respective Exchange Contact / Business Manager). Once completed, the declaration form should be sent directly to SGX. No other documentation is required to certify preparedness. For this particular system update, preparedness documents sent out from TT to customers of TT are neither available nor required.
SGX_GIFT: Full-scale Operation of NSE IFSC-SGX
SGX has announced that the full transition of SGX Nifty derivatives to NSE IFSC (SGX GIFT City) will be on July 3, 2023.
SGX GIFT City went live on July 29, 2022. Since that time, the NIFTY products have been trading in parallel on both the “SGX” (Titan) and the “SGX_GIFT” (GIFT City – NSE) platforms both on the exchange and on TT.
Starting from July 3, 2023 there will be a permanent shutdown of NIFTY trading on SGX Titan. From that time, all SGX users must trade the NIFTY on SGX_GIFT. The exchange will continue to support trading on the far months of the product on SGX Titan throughout the transition to aid Risk / Position management.
All of the above points apply to DMA trading only. Users sending Trade Report (NLT / Wholesale / OTC) orders will continue to use the SGX Titan platform even after the transition.
Please note that SODs and position tracking on the TT platform should be managed by customers as needed.
While trading of the SGX NIFTY will no longer be available via the SGX market, TT will continue to support trading of the SGX NIFTY product on the SGX_GIFT market. For customers who already have access to SGX_GIFT on TT, there are no specific steps that need to be taken on the TT platform to prepare. Any customers who are still trading SGX NIFTY via the SGX market and would like assistance in connecting to SGX_GIFT should contact their TT Onboarding or Sales representative.
NSE: BANKNIFTY Contract Expiry Revision
The expiry of all Futures and Options contracts for Nifty Bank (BANKNIFTY) will be revised from the existing Thursday to Friday. This expiry date revision will be done on 6th July EOD and will be applicable for all expiries (weekly, monthly and quarterly).
- All weekly contracts will expire on the Friday of every week.
- All monthly contracts will expire on the last Friday of the contract month.
- If for any existing contract, the expiry happens to be on a Thursday which is the last day of that month (eg.: 31 Aug, 2023), then the expiry will be preponed to the previous Friday (eg.: 25 Aug, 2023).
- If Friday is a trading holiday, then the expiry will be on the previous trading day.
- The first Friday expiry will be on 14th July.
This change does not directly impact TT, and the updated expiry dates will be automatically available on TT from 7th July.
BIST: BISTECH 3.0 Dress Rehearsal 2
TT plans to participate in the Dress Rehearsal for the BISTECH 3.0 scheduled by the exchange for 8 July, 2023. This Dress Rehearsal will be conducted in the TT Production Environment on the said date. For this test, all BIST systems will open as a normal working day on Saturday morning, but the normal trading session will close at 3:40 PM Turkey Time and no order entry will be allowed after this time. This dress rehearsal will also involve a failover scenario, and the BIST primary servers will be made unavailable any time post 1 PM Turkey time. Post this failover, TT will connect to the BIST secondary servers for the reminder of the day.
Company admins will need to update the order entry connection settings with the latest user details that they may have received from the exchange for this test.
KRX: Derivatives Market Rules Improvements
July 17 (Tentative)
KRX has announced a list of Derivatives Market Rules Improvements with a tentative Go Live date of July 17, 2023.
KRX improvements include the New Listing of KOSPI 200 Monday Weekly Options. TT KRX Price Server is currently being updated to add support for the new Weekly Option product and an upgrade to the UAT environment is currently targeted to the first week of July.
For all other Improvements announced by KRX (listed below) there is no impact to the TT platform.
- Earlier Derivatives Market Opening
- Changes to Negotiated Block Trades
- New Listing of Single Stock Futures·Options
- Segmentation of SSF / SSO Order Quantity Limit
Additional updates will be provided here in System News as they become available.
Eurex: NextGen ETD new OEXP Daily Options
Eurex is introducing new OEXP EOD and EOM daily options in production on August 28th. This product is now available in the UAT environment for testing.
SGX : Titan DT/DC Hardware Refresh
SGX is planning to upgrade all servers, network gateways and network switches to Service Release (SR) 11 which is recompiled with the latest software versions.
To verify participants’ connectivity to the upgraded trading and clearing system, SGX has planned for a mandatory Industry Wide Exercise (“IWT”) on Sept 09 2023 , to ensure that all participants’ systems are able to connect and login to the new system.
Titan DT/DC will be upgraded on 21 Oct 2023. SGX will provide the detailed test plan for the IWT by July 2023.
Eurex/EEX: ETI TLS Encryption
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|
More details will be provided in upcoming Updates.
CME: Mandatory Migration – iLink3 Binary Order Entry Protocol for CGW
Feb 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.
IDEM: Migration to Euronext
IDEM products will be migrating to Euronext in March 2024. Further details will be provided as the date approaches, which can be found here.