Articles tagged with: Testing


Participants who already utilise trading interfaces into the existing Cboe venue will not be required to perform conformance testing to access the proposed EU venue, as long as they confirm that their software has not changed.

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Venue Transaction Reporting Obligations for third country Trading Participants

As part of its Brexit programme, Cboe Europe Equities (Cboe) would like to remind Participants about the transaction reporting requirement imposed on a trading venue when Participants conduct cross border trading. Cross border trading in this context is defined as trading activity conducted on a Cboe venue that is outside of the jurisdiction that the Participant entity is registered. Cboe EU is scheduled to launch on Monday 1st April, unless political developments would cause it to alter this date, and will require all 3rd country firms who wish to trade on this venue, to have a transaction reporting solution in place. We are aligning our UAT environment with this scenario in order that firms can test for the most extreme outcome. To ensure continuity of access in the event of a hard Brexit, impacted Participants need to certify for a transaction reporting solution by Friday 15th March 2019.

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Order Record Keeping

Trading venues under MiFID have an existing obligation to record order related data. It is anticipated that both Cboe UK and Cboe EU venues will require such information.

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Multi-day Exchange Trade Report handling over EU venue launch window

There are some subtleties that Participants and vendors should be aware of to ensure they can correctly process multi-day ETRs that straddle the launch of the new EU venue. This guidance does not apply to cancellation or amendment of cleared ETRs, as these cannot be amended or cancelled over more than one day, but does apply to the release of cleared ETRs, as they can be released T+1.

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All information related to the Cboe EU venue is subject to regulatory approval as the authorisation process in the Netherlands is ongoing.