S O L A P L A T F O R M SOLA 9. Dress Rehearsal Guide Saturday, 10 th June 2017

Transcription

1 S O L A P L A T F O R M SOLA 9 Dress Rehearsal Guide Saturday, 10 th

2 Use of This Documentation This document is the property of Borsa Italiana S.p.A and neither the document nor its contents may be disclosed to a third party, nor may it be copied, without prior written consent from Borsa Italiana S.p.A Every effort has been made to ensure that the information in this guide is correct at the time of publication but Borsa Italiana S.p.A does not accept liability for any error or omission. The development of its products and services is continuous and published information may not be up to date. It is important to check the current position with Borsa Italiana S.p.A. This guide may be amended and reissued from time to time. Borsa Italiana S.p.A accepts no liability for decisions taken, or systems or other work carried out by any party, based on this document. Borsa Italiana S.p.A shall not be liable for any claims or losses of any nature arising directly or indirectly from use of the data or material contained within this document (except to the extent required by law). Borsa Italiana S.p.A London Stock Exchange Group 10 Paternoster Square, London EC4M 7LS Telephone +44 (0)

3 Contents 1 Introduction Dress Rehearsal Overview Dress Rehearsal Activities Session Timetable Test Results Confirmation Customer Support

4 1 Introduction 1.1 Purpose The purpose of this document is to describe the activities that will take place on Saturday June 10 th 2017 during the 2 nd Dress Rehearsal scheduled for the technological upgrade of SOLA platform for derivatives markets (SOLA 9). The purpose of the Dress Rehearsal is to verify that all participants applications can correctly access the IDEM, IDEX and AGREX markets and that all participants are able to perform trading activities and receive market data after the upgrade to SOLA 9. In particular, participants who will attend are required to: verify their logon procedures for all their: o SOLA production users o HSVF connections o all GTP Lite users verify they correctly receive GTP multicast flow for IDEM, IDEX and AGREX execute Trading activities validating the correct functioning their Trading applications execute Market Making activities validating the correct functioning their Quoting applications carry out standard clearing activity. Customers should be aware that this is the second CDR scheduled within the SOLA 9 upgrade project. Customers who did not participate to the first Dress Rehearsal are mandate to participate to this second and last test. 4

5 1.2 Readership This document outlines the Dress Rehearsal activities that will take place on Saturday June 10 th Enquiries Please contact either Client Technology Services or your Technical Account Manager if you have any functional questions about the SOLA derivatives Market services outlined in this document. Client Technology Services Italy can be contacted at: Technical Account Management Telephone: clients-services@borsaitaliana.it Service Desk Free Toll Number: From mobile: service-desk@borsaitaliana.it 5

6 2 Dress Rehearsal Overview 2.1 Introduction SOLA 9 is the new release of the SOLA platform. With SOLA 9 a set of new functionalities will be introduced, in particular the PTV (Pre Trade Validation) that is the possibility for a trading participant to set a pre-trade controls on a single or a group of Trader IDs associated with a participant (set maximum order size, position and exposure limits on a Trader ID/Group of Trader IDs/Trading Participant). In particular, the Risk Manager who is the controlling entity will be able to specify a set of limits for a specified managed/controlled entity. Limits can be set at different levels: Firm/Group of Trader ID/Instrument Group/Instrument Firm/Group of Trader ID/Instrument Group Firm/Instrument Group/Instrument Firm/Instrument Group 2.2 Available Systems The test is performed in the production environment of all the services involved: SOLA production systems (for both SAIL, FIX and HSVF services) GTP Lite production systems GTP production systems - Milan Instance only BCS production BTS production; customer are informed that both the BTS user manual for the new Pre-Trade validation service and the BTS client version to be used during the test have already been published on Borsa Italiana website at the link: Customer should be informed that the Millennium IT Platform is out of scope and will not be available during the test. Customers should also be informed that IDEX Trayport Service will not be activated during the dress rehearsal. 6

7 2.3 Test Description All IDEM, IDEX and AGREX customers are required to logon to the SOLA platform and the market data Feed services they use (HSVF or GTP/GTP Lite or both). Customers are requested to enter orders and quotes and get executions on the IDEM, IDEX and AGREX markets simulating a standard trading day. Customers are reminded that the configuration active during the Dress Rehearsal will be exactly the same active on Friday, 9 th in terms of: available series Market Making obligations At the end of the test session, participants will be required to: restore the trading applications back to the current production version and to prepare their systems for the Monday Live Service on the current version of SOLA Platform. send an to service-desk@borsaitaliana.it and clients-services@borsaitaliana.it confirming the success of the test activity. We would like to remind you that participants are responsible for the correct operation of their applications after any roll forward / rollback procedure to SOLA trading. Please note that all communications to customers during the dress rehearsal will be published via the following link: 7

8 3 Dress Rehearsal Activities 3.1 Propaedeutic Activities Before the dress rehearsals, customers are requested to have completed all appropriate development and testing where necessary: implemented the changes introduced to the SOLA SAIL, FIX and HSVF protocols by SOLA 9 and tested the new version of their applications passed the conformance test on SAIL and/or FIX and/or HSVF services (only for ISVs and Member Firms that develop their own software to trade on SOLA markets) received the appropriate software and instructions from their ISVs for customer that use BTS: downloaded and installed the correct version of the BTS client from Borsa Italiana website (see above) To enable customers to satisfy these requirements, the documentation of the SOLA 9 version of the SOLA platform (for SAIL, FIX and HSVF) is available on the Borsa Italiana website at the following link Dress Rehearsal Activities Customers are reminded that: the production IP addresses and ports of the SOLA 9 platform will not differ from the ones currently in production: during the test customers will have to connect to the same IP addresses and ports they use to connect to production every day the list of available IP and ports for the SOLA platform is available in the document SOLA Connectivity Guide available at the following link: also the production IP addresses and ports of the GTP and GTP Lite services will not differ from the ones currently in production, the recap of IP and ports for the GTP and GTP Lite services can be found in document GTP004 available at the following link: 8

9 Any change to the current logical set up active to trade on SOLA platform that customers intend to test during the Dress Rehearsal must be requested by to within Thursday, 8 th. Customers are required to logon from all users for both Trading and Market Data Feed services. During the test customers shall perform the following activities: verify the connectivity to the new version of SOLA Platform (SOLA 9) for both Trading (SAIL and/or FIX interfaces) and Market Data services (HSVF and/or GTP and/or GTP Lite) validate the trading functions of their in-house and/or third party software applications including quoting systems verify the correct message handling of the market data feeds through HSVF and/or GTP and/or GTP Lite services Customers are also warmly invited to perform the following activities: Login Procedures: o Connect to SOLA Platform through all configured users o Connect to HSVF and/or GTP Lite through all configured users Trading and Quoting activities: o Enter / Modify / Cancel Orders o Trades management o Enter Quotes o Modify Quotes o Delete Quotes Market Data Feed reception: check correct reception of real time feed (orders and prices) Clearing activities: standard clearing activity will be available during the test. Customers should note that reports and end of day files via BCS API application will not be generated for this test. At the end of the test session, participants are required to verify the correct restore of their software applications back to the current production version 9

10 4 Session Timetable Start Time End Time Action Notes 9:30:00 9:45:00 Login Available 9:45:00 10:00:00 Pre-Opening FTSE MIB Futures and FTSE MIB Mini Futures 10:00:00 12:00:00 Continuous Trading 12:00:00 12:30:00 Extended Hours section FTSE MIB Futures and FTSE MIB Mini Futures Clearing will be available till 1 pm CEST. 5 Test Results Confirmation At the end of the test session, Customers are required to confirm the success of their day s testing with regard to: Logon procedures Trading and Market Making standard activity Clearing activities The preferred approach is for customers to send an to service-desk@borsaitaliana.it and clients-services@borsaitaliana.it. 6 Customer Support During the test session participants can contact the Borsa Italiana Service Desk for assistance: Toll Free: From mobile: service-desk@borsaitaliana.it Technical Account Management will also be on hand for any query. 10