System Admin News & Updates

Critical Updates

B3: Template update for Binary and FIX Order Entry

B3 will roll out new EntryPoint FIX and Binary templates for order entry across both Derivatives and Equities gateways between February and March 2026. Below is the B3 release schedule.

There are no mandatory changes required as part of this upgrade. TT will remain on the current template version and will not migrate to the new template. TT will complete full backward compatibility testing.

No client action is required.

FIX update schedule – Template 2.40

Derivatives Gateways

• February 12,2026: Wave 1  – OE001, OE002, OE003, OE004, OE005, OE006, OE007, OE008, OE017, OE018, OE019, OE020, OE021, OE022, OE023, OE024
• February 16,2026: Wave 2 – OE225,OE226,OE227,OE228,OE229,OE230,OE231,OE232,OE025,OE026,OE027,OE028,OE029,OE030,OE031,OE032,OE033,OE034,OE035,OE036,OE037,OE038,OE039,OE040
• February 19,2026: Wave 3 – OE177,OE178,OE179,OE180,OE181,OE182,OE183,OE184,OE193,OE194,OE195,OE196,OE197,OE198,OE199,OE200,OE209,OE210,OE211,OE212,OE213,OE214,OE215,OE216

Equities Gateways

• February 23,2026: Wave 1 – OE121,OE122,OE123,OE124,OE125,OE126,OE127,OE128,OE081,OE082,OE083,OE084,OE085,OE086,OE087,OE088,OE145,OE146,OE147,OE148,OE149,OE150,OE151,OE152
• February 24,2026: Wave 2 – OE089,OE090,OE091,OE092,OE093,OE094,OE095,OE096,OE041,OE042,OE043,OE044,OE045,OE046,OE047,OE048,OE049,OE050,OE051,OE052,OE053,OE054,OE055,OE056
• February 25,2026: Wave 3  – OE057,OE058,OE059,OE060,OE061,OE062,OE063,OE064,OE065,OE066,OE067,OE068,OE069,OE070,OE071,OE072,OE073,OE074,OE075,OE076,OE077,OE078,OE079,OE080
• February 26,2026: Wave 4 – OE097,OE098,OE099,OE100,OE101,OE102,OE103,OE104,OE105,OE106,OE107,OE108,OE109,OE110,OE111,OE112,OE113,OE114,OE115,OE116,OE117,OE118,OE119,OE120
• March 02,2026: Wave 5 – OE129,OE130,OE131,OE132,OE133,OE134,OE135,OE136,OE137,OE138,OE139,OE140,OE141,OE142,OE143,OE144,OE153,OE154,OE155,OE156,OE157,OE158,OE159,OE160

Order Entry Binary update schedule – Template 8.4.2

Derivatives Gateways

• February 23, 2026: BGWD01 + BGWD02 + PGWD01 
• February 24, 2026: BGWD03 + BGWD04 
• February 25, 2026: BGWD05 + BGWD06

Equities Gateways

• February 26, 2026: BGWE01 + BGWE02 + PGWE01 
• March 02, 2026: BGWE03 + BGWE04 + PGWE02 
• March 03, 2026: BGWE05 + BGWE06 
• March 04, 2026: BGWE07 + BGWE08 
• March 05, 2026: BGWE09 + BGWE10

Cboe Europe Derivatives (CEDX) Decommission

February 20, 2026

Cboe Europe BV will to wind down its Cboe Europe Derivatives (CEDX) exchange service on the below timelines:

• January 12: All CEDX products will be set to ‘Close Only’ and any products with no Open Interest will be placed into a Trading Halt and subsequently delisted
• February 20: Any remaining open positions will be cash-settled at fair market value 

After the close of business on Friday, February 20, TT will decommission all CEDX-related infrastructure.

Additional Resources

CEDX Decommission Notice

CME Event Contracts (non-24×7)

February 22, 2026

Starting February 22, 2026, TT will begin supporting CME Event-based contracts (non-24×7) in production. These contracts allow traders to express “Yes/No” views on specific market outcomes.

Key Trading Details:

• Format: Event Contracts are supported in options format.  
• Order Semantics: Buying a Call represents a “Yes” outcome, while buying a Put represents a “No” outcome.  
• Pricing: Contract prices range from $0.01 to $0.99, reflecting the market-implied probability of an outcome.  
• Settlement: Contracts settle at a price of 0 or 1.
• In practice, most end users are expected to be long (buyers) of Calls or Puts to express Yes/No views. Selling Event Options is primarily intended for market makers and liquidity providers
• Contract prices range from $0.01 to $0.99, reflecting the market implied probability (1% to 99%) of that outcome
• Any order outside of this range will be rejected by CME 

Additional Resources

How CME Event Contracts trade on TT

CME Event Contracts

Updated – CFE: Upcoming ATS Operator ID Enforcement

February 27, 2026

Customer action needed:

In order to accommodate customer requests for additional time prior to implementing this functionality, these changes will be deferred until the February 1 trading session.

To ensure compliance with CFE Rules 403(b) and 303A, TT will update system behavior related to the handling of Operator IDs (OEOID – FIX Tag 25004) for manual and automated orders.

As part of this update, TT will:

• No longer substitute the Manual Operator ID when the ATS Operator ID is not configured
• Omit Tag 25004 if the applicable Operator ID is missing, which will result in order rejection by CFE

TT intends to deploy this change to production at the end of the trading session on January 30, 2026. The update will take effect starting with the following trading session, February 1 (Sunday 5.00 pm).

To ensure compliance with CFE rules, and to avoid order rejections once software changes are implemented later this year, customers should review the User configuration in TT Setup and verify that the following fields are populated as needed:

• Manual Operator ID: Used for manual order entry
• ATS Operator ID: Used for orders submitted via automated trading systems

These are separate fields and must be configured independently. 

Order behavior is as follows, based on the TT Setup configuration:

• If only the Manual Operator ID is configured:
  • Manual orders will be accepted
  • Automated orders will be rejected by CFE (Tag 25004 not sent)
• If only the ATS Operator ID is configured:
  • Manual orders will be rejected by CFE (Tag 25004 not sent)
  • Automated orders will be accepted
• If both Manual and ATS Operator IDs are configured:
  • Manual orders will be accepted
  • Automated orders will be accepted
• If neither field is configured:
  • All orders (manual and automated) will be rejected by CFE

If you are unsure of your current Operator ID configuration or need assistance updating Setup, please contact your TT Onboarding representative or TT Support.

FIX Clients:

FIX users currently use tag 50 (SenderSubID) in the New Order Single (35=D) message to specify the OperatorID. In the Execution Report (35=8), this value is returned within the Party Group (where tag 452=44 and the value appears in tag 448).

There are no changes for FIX clients. However, for compliance purposes, clients must ensure the following:

• When submitting manual orders via FIX, use one specific value for tag 50.
• When submitting automated orders via FIX, use a different value for tag 50.

Additional Resources

CFE ATS Operator ID Reporting and Configuration FAQ

Now in UAT: Eurex/EEX: Self Match Prevention (SMP) and Other Enhancements

March 2

TT will provide support for the following Eurex/EEX exchange functionality:

Enhancement to Self Match Prevention:

On December 1, Eurex and EEX are enhancing the Self Match Prevention (SMP) feature to add 3 new types in addition to the current offering. These new SMP types will be configurable via a new drop down at the User level in TTUS, and the following values will be allowed:

• Cancel Aggressive and Passive  (Netting, existing model) 
• Cancel Passive (resting order will be cancelled) 
• Cancel Aggressive (Incoming order will be cancelled) 

Order Entry Rejection Based on Eurex Trading Capacity Requirements:

Eurex requires that, for Agency orders, the Client ID field must be populated, otherwise they will be rejected.

For Proprietary or Market Making orders, the Client ID field may remain empty.

TT will now reject orders prior to submission to the exchange under these conditions: 

• Trading Capacity  = Any other capacity (Agency)
• Account Type = A1 – A9 (Required when Trading Capacity is Any other capacity / Agency)
• Client ID = Blank

This change is being made to address reporting concerns from customers when orders are sent to the exchange and are rejected because they do not meet these conditions.

TT deployed both of these changes to UAT on January 22 for customer testing. Production deployment dates to be communicated soon. 

CME: RIC code changing for reduced tick spread contracts

March 15, 2026

Effective February 12, 2026, LSEG will update the RICs for all CBOT Reduced Tick (RT) Spread contracts.  TT will support these updated RICs in Production from March 15, 2026, with testing now available in UAT.

RIC Change Example:

• Old:   AULRTU25-H26
• New: AULU25-H26

The updated format removes the “RT” designation from the RIC.

Impacted products:
SI, ZN, UB, PA, ZB, TN, 20U, MGE, 40U, 50U, TWE, DVE, 30U

Clients must begin using the new RIC format when routing orders via TT starting March 15, 2026.

Updated: B3: Binary Protocol

March 2026

B3 has rolled out new low latency binary protocols for market data via the Binary Unified Market Data Feed (UMDF) and for Order entry (Simple Binary Encoding (SBE).

TT has already migrated its Market Data to the binary UMDF protocol and, for order entry, currently supports both the legacy FIX API and the new binary API.

Please note that B3 continues to support the legacy protocols in parallel with the new Binary offering, and the TT migration will follow a phased approach:

• Phase 1- Completed: TT upgraded its Market Data feed to use the new Binary UMDF protocol.
• Phase 2- In Progress: Customers can continue using their existing FIX order connections while also having the option to configure new binary API connections. 
• Phase 3- Future: TT will discontinue support for the legacy FIX order entry API, requiring all customers to use the Binary Order Entry API connections. Any GTC/GTDate orders resting on legacy FIX connections will be canceled when the cut-off occurs.

NOTE: B3 has set the length of the “Entering Trader” value to five on the Binary Order Entry API.

TT will discontinue support for the FIX Order Entry API at the end of Q1, 2026. Customers that have not yet moved to the Binary Order Entry API are strongly encouraged to begin planning for this migration.

Additional Resources

Binary Trading Gateway

JPX: H1 2026 Changes 

April 13, 2026

JPX will introduce the below changes on Apr 13, 2026:

1. Revision to the Immediately Executable Price Ranges (DCB Price Ranges) for Gold Futures and Platinum Futures – These DCB price ranges, which are currently defined in fixed JPY values, will be revised to percentages.
2. Revision in rules for mini 10 yr JGB FUT – The tick size on the mini 10 yr JGB futures as well as spreads will be revised from JPY 0.005 to JPY 0.01. Please note that all remaining orders for mini 10 year JGB Futures (including those made in strategy trading) will be canceled immediately after the end of the night session for the trading day of April 13, 2026. The night session for the trading day of April 13, 2026 will begin on the previous business Day Of April 10, 2026.
3. Change in Trading Hours for Electricity Futures – The current Night session schedule is from 5 PM to 7 PM JST (with a Pre-Open state from 4:45 PM before opening). The modified schedule for the night session will be from 4:30 PM to 7 PM JST (with a Pre-OPen from 4:25 PM before opening). There is no change to the Day session schedule.

No customer action is required as a result of these changes, which will automatically take effect once the modifications are made by JPX.

Euronext: Evening Session for Commodity Derivatives

April 13, 2026 

Starting April 13, Euronext will introduce an evening trading session for their Agricultural Commodities Futures.

• New Evening Session Hours: 18:30 – 20:15 CET
• Contracts: Milling Wheat (yEBM), Rapeseed (yECO) and Corn (yEMA) futures
• Settlement: Daily settlement procedures remain unchanged at 18:30 CET.
• Position Accounting: Trades executed during the evening session will be attributed to the same trading day.
• Allowed Trade Types: Only the Central Order Book (COB) trades will be allowed during the evening session. Large-In-Scale (LIS) / Blocks, Against Actuals (AA) and Exchange for Swaps (EFS) will not be available.

The current TT schedule already covers these extended trading hours, and hence no changes are required on TT to support this. Interested customers can test out this feature in the TT UAT environment.

Eurex/EEX/NODAL : T7 14.1 Upgrade 

May 18, 2026 

Deutsche Börse will release T7 14.1 to Production on May 18, 2026 across Eurex, EEX and NODAL. Simulation access for T7 Release 14.1 will be available from the exchange on March 23, and TT will provide access in UAT as soon as possible once internal testing is complete. 

Additional information from the exchange (including System documentation, circulars and timelines) is available on the T7 14.0 initiative page via the following link: www.eurex.com > Support > Initiatives & Releases > T7 Release 14.1

The following are the anticipated milestones for this project:

Major Change : 

1 ) Decommissioning of Deprecated ETI Order Entry Requests

Within the Release Notes for T7 Release 13.1, clients were informed that the old Single and Multi-Leg requests were marked as deprecated in all technical documentation and would be finally decommissioned with T7 Release 14.1, taking place in May 2026.

Five new ETI order management requests were introduced to align order layouts across T7 exchanges, combine simple & complex layouts into one request and rearrange fields for efficiency and improved latency.

Currently, TT supports the old ETI requests and will upgrade to the new ETI requests in advance of the decommission date.

Customer Impact : TT is planning to migrate to the new ETI order management requests before the decommissioning of old ETI requests . No action is needed from TT customers . 

2) TLS Upgrade 1.3 

Support for TLS 1.3 on the Eurex T7 platform was introduced in October 2023, and the exchange has continued to support TLS 1.2 and TLS 1.3 in parallel since that time. Support for TLS 1.2 will be decommissioned in Q1, 2026.

Currently, TT supports TLS 1.2 and will upgrade to TLS 1.3 in advance of the decommission date.

Customer Impact: There will be no impact on the customer experience, and no action is needed from customers. 

LME Cross Orders 

May 18 , 2026 

On May 18, LME will add support for Cross Order functionality on its electronic trading platform, LMESelect. 

TT will support this functionality on launch, with UAT availability planned for April. 

Additional Resources

LME Announcement 

HKEX: Derivatives After Hours Trading (AHT) Enhancements

Q2 2026

HKEX will introduce the below enhancements to their After Hours Trading (AHT) session in Q2 2026:

• Equity index derivative product coverage expansion for US and UK Holidays
  • Currently, on Memorial Day (US) and Spring Bank Holiday (UK), in the AHT session on HKEX, only the Currency and Metals AHT products are enabled for trading. This will be modified to include all AHT eligible products for trading on these US/UK holidays.
  • On Christmas day, currently, only the Currency products are eligible for AHT session. This will be modified to include all MSCI and Currency products for trading on Christmas day.
  • There is no change to the products that will be available for trading during the Day session on any of the holidays.
• Shortening of the market break between the Day and AHT session
  • Currently, the market break between the Day and AHT session is of 45 mins. HKEX plans to start the AHT session 15 mins earlier, by reducing the market break to 30 mins.
• Widening of AHT Price Limits
  • Currently, the price limits on all futures contracts traded in the AHT session is + or – 5%, and orders outside these price limits are rejected.
  • The stock index futures traded on HKEX will be categorized into 2 baskets – flagship and non-flagship futures. While the initial price limits will be set at + or – 5% for both, those for the flagship products will be subject to a quarterly review, and can be periodically modified by HKEX.
• Index Option – Trade Resumption
  • For the options contracts that are halted due to HKEX’s Trade Halt Mechanism, trading will be automatically resumed based on a deterministic model built by HKEX.
• Enhancement to the reference price determination methodology
  • HKEX will modify their methodology used for determining the reference prices.
• Orders outside price limit boundary
  • For orders entered during the Day session, and which may be outside the AHT price limits (price limits apply only to AHT session) and are carried over to the AHT session, such orders will not be rejected or canceled and can get traded outside the AHT price limits.

None of these proposed changes by HKEX have any direct impact on TT, and will be supported on TT without requiring any additional changes to the software. 

WSE: API Upgrade

Q2 2026

WSE has an upcoming upgrade to their trading system APIs for both market data and order entry. The Go Live date for this upgrade is expected to be in Q2 2026 (Date TBD). On the Go Live date of this new API, the current API will be decommissioned and the market will be fully migrated to the new versions.

• No functional changes are being implemented on the market data feed for display on TT
• New OTDs of Account Type and Trading Capacity will be introduced, which can be appropriately configured on TT
• TT will support the Self Match Prevention feature introduced along with this upgrade
• Customers are strongly advised to cancel any pending GTC/GTD/GTT orders before close of trading on the last day of the old API

Further details regarding availability of testing in the TT UAT environment will be provided in the near future.

Disaster Recovery and Mock Testing

NZX: Pre-Production Dress Rehearsal 

March 3 – 4 

NZX will conduct a dress rehearsal as the final end-to-end test before the go-live of its S&P/NZX 20 Index Futures Relaunch Project. This test will run for a full trading day in the NZX Conformance Test Environment, following the standard production timetable. Clearing activities will occur throughout the day and conclude after the next day’s MTM batch at 10:00 a.m. NZT.

This is a major milestone to be completed before the final launch for NZX20 Index Futures in April 2026 . 

TT Will support this test in the UAT environment. Interested customers can reach out to their TT Onboarding representative in order to participate in this test 

HKEX: Dress Rehearsal for new products on new partition

April 18 

HKEX will introduce new futures and options (both monthly and weekly) options contracts on new product symbols VAA and VBB. The market data for these will be obtained from a new partition (partition 3) which will be added by HKEX. TT plans to participate in the dress rehearsal that will be conducted by the exchange on 18 April for the same.

The availability of these contracts in TT UAT will be confirmed in subsequent system news, once the contracts are made available by HKEX in the test environment.

SGX : Industry Wide BCP Exercise 

May 23, 2026 

SGX will conduct its annual industry-wide exercise to validate its ability to recover and operate the market in the event of a data centre failover scenario and to test its crisis communication capabilities. All Singapore-based Securities and Derivatives Trading and Clearing Members are required to participate in this exercise.

TT will be providing support to all of its clients who are interested in participating in this exercise 

Note : SGX is also planning a BCP exercise which will not involve a failover on Feb 7. TT will not participate in this exercise 

New Markets

NZX: NZX20 Index Futures Relaunch Project

April, 2026 

In April 2026, NZX will move forward with its S&P/NZX 20 Index Futures Relaunch Project which will be supported on the TT platform as a new market, NZX. NZX20 index futures and spreads will be supported.

NZX is now available for testing in UAT. Interested customers should reach out to their Onboarding representative to gain access to the market.

NZX is planning a second Dress Rehearsal for their clients on March 03 and March 04 , 2026 .  TT will support this testing in our UAT environment. Interested Participants can reach out to their local TT representative for more details. 

More Information about the NZX20 Index products can be found here.

For all inquiries related to NZX20, please email [email protected].

New Products

Please Note: Trading Technologies’ default approach is to support every new product listed, on the product’s first day of trading, for all markets available on the TT trading platform. If a new product listing receives high-profile attention or is of significant industry importance, TT may announce support for it below. For all other new products announced by exchanges but not listed below, users should expect that TT provides support unless otherwise noted.

Euronext: Migration of Power Derivatives from Nasdaq

March 14, 2026

Nordic power derivatives will be migrated to Euronext from Nasdaq on 14 Mar 2016 (after close of business). Euronext completed the technical launch of these instruments on Feb 2, and these products can be currently traded from TT.

Please note that –

• For the initial launch on Feb 2, interested customers will need to have market data subscriptions under the TT User Setup enabled for the Commodity Derivatives segment to be able to trade on the power derivatives.
• At a later date (Date TBD), a separate market data subscription will be added for Power Derivatives.
• The newly added wholesale trade types for power derivatives (Block Standard, Block NFC Auction, Block Historical) will not be available on Day1 of the migration, and the support for this will be added at a later date.

Additional Resources

Exchange Announcement

Nasdaq to Euronext Product Symbol Mapping

Euronext: Introduction of Trade at Settlement Futures 

March 30, 2026

Euronext plans to launch Trade at Settlement futures contracts on commodities on March 30. These contracts are currently available in the TT UAT environment for customer testing. Customers who have access to existing commodity derivatives, should be able to trade on these contracts without requiring any additional settings.

The product symbols relevant for TAS are –

• yEBMT – Milling Wheat TAS future contracts
• yECOT – Rapeseed TAS future contracts
• yEMAT – Corn TAS future contracts

ICE_L: ICE Liffe is launching Mini Equity Products

TBD

ICE is introducing additional Equity Derivatives contracts on December 8, 2025 under two new market types,

• Mini Equity Non-US Based (Market Type ID: 261)
• Mini Equity US-Restricted (Market Type ID: 262)

These products will not be supported by TT on Day1, but support will be added in a near future release. 

Additional Resources 

Equity Derivatives Contracts

JPX: Introduction of New Contracts in Apr 2026

April 13, 2026

In April 2026, JPX will introduce the below new products –

• FX Futures
  • USD/JPY Futures (Product Symbol – UDJY)
  • CNH/JPY Futures (Product Symbol – CHJY)
  • EUR/JPY Futures (Product Symbol – ERJY)
• Cash-Settled Futures contracts on metals
  • Cash-Settled Futures contracts on Gold (Product Symbol – GD14M)
  • Cash-Settled Futures contracts on Platinum (Product Symbol – PT14M)
• Chubu Area Electricity Futures
  • Chubu Area Baseload Electricity Futures (Product Symbol – ECB)
  • Chubu Area Peakload Electricity Futures (Product Symbol – ECP)
  • Chubu Area Fiscal Year Baseload Electricity Futures (Product Symbol – ECBY)
  • Chubu Area Fiscal Year Peakload Electricity Futures (Product Symbol – ECPY)
• Currently, JPX supports flexible contracts only for TOPIX Banks Index (Product Symbol – BANK)) Options and TSE REIT Index (Product Symbol – REIT) options. In April 2026, JPX will introduce regular contracts on these products.

TT plans to support these contracts from Day 1. The metal futures (PT14M and GD14M) are currently available in TT UAT for customer testing. TT will confirm the expected availability of the remaining products in TT UAT in subsequent system news updates.

Euronext: Introduction of Container Freight Futures 

TBD

Euronext plans to launch container freight futures. While the confirmation on the go live date for these is awaited from Euronext, these contracts are now available in the TT UAT environment for customer testing. Customers who have access to existing commodity derivatives, should be able to trade on these contracts without requiring any additional settings.