SGX: Self-Trade Prevention Enhancement
January 22
SGX is planning to deploy Titan Service Release 8.5 to production on January 22 for the purpose of enhancing their Self Trade Prevention (STP) functionality. Changes will allow for an additional tier of STP checking at a new “Trading Group” level, while still retaining their existing STP functionality.
TT will fully support Service Release 8.5, and new versions of TT software that support this feature will be deployed to UAT in the coming weeks.
Use of SGX Service Release 8.5 features will require no new changes or additional configurations on the TT platform. Messages that are currently in use with existing SGX STP features will continue to be the same after the update.
SGX currently plans to make the new STP Trading Groups effective in production starting from February 8. Customers wishing to make immediate use of Trading Groups in production must email their requests to [email protected] by January 29. If customers wish to test the new feature in UAT, requests for Trading Group setup in the SGX Member Test Environment must be sent to [email protected].
Trading Group setup request template:
New Self-Trade Protection Trading Group Setup
| Environment: | [Production OR Test-Environment] |
| List of Participant Codes: | e.g. AB123, ZZ999, YY369[If you do not know your Participant Codes, please list the Order-IDs] |
| Prevention Method: | [Cancel Aggressive OR Cancel Passive] |
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.
Nasdaq_NED is now available for testing in UAT. Customers should provision FIX order routing credentials for the exchange NTF environment, and coordinate with the TT Onboarding team for configuration.
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, but is not required.
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.