System Status

Cboe is closely monitoring the reported cooling issues at the Equinix NY4 datacenter in Secaucus, NJ. At this time, no Cboe systems have been impacted, and all Cboe Exchange systems are operating normally. Please contact the Cboe NOC with any questions.

Cboe NOC
[email protected]
913.815.7005

[cid:[email protected]]

Postponement: CFE Update to ZVXT Test Product Pre-Open Time and Test Symbol Usage

Reference ID: C2020050701
Overview (UPDATED)
Cboe Futures Exchange, LLC ("CFE") has released the Quoting Interface solely for CFE Trade at Settlement ("TAS") contracts effective May 3, 2020. In order to allow CFE Trading Privilege Holders ("TPHs") to confirm connectivity to any order entry session, including Quoting Match Capacity Allocations, and to ensure proper code path initialization, CFE will make changes to the simulated trading schedule for the ZVXT test product as previously announced. Based on customer feedback, these changes have been postponed to be effective on a date to be announced in a subsequent notice.

ZVXT is a test product in the CFE production environment for TAS contracts in Cboe Volatility Index ("VX") futures which have the symbol VXT. TPHs are encouraged to utilize ZVXT for the test purposes of confirming connectivity and ensuring proper code path initialization during the five minutes prior to the start of the Pre-Open queuing period for VXT.
Technical Details (UPDATED)
On the effective date, the simulated Pre-Open period for the test product, ZVXT, will be updated to begin five minutes prior to the start of the Pre-Open for VXT.

In addition, TPHs will be allowed to send up to 10 messages per second (consisting of quotes and/or orders) in all test contracts combined at any time that the platform is accepting messages in test contracts. The limit today is 1 quote/order per second in all test contracts combined. The current limit will remain in place until the effective date to be announced in a subsequent notice.

Sunday Example
VXT is scheduled to begin a Pre-Open trading session at approximately 16:00:00 CT on Sunday, July 29. ZVXT would be scheduled to begin a simulated Pre-Open trading session at approximately 15:55:00 CT on Sunday, July 29. Assume ZVXT open occurs at 15:55:04 CT. TPHs would be allowed to send up to 10 quotes/orders per second in ZVXT contracts from 15:55:04 to 16:00:04 CT for the purposes of connectivity testing and code path initialization.

Monday Example
VXT is scheduled to begin a Pre-Open trading session at approximately 16:45:00 CT on Monday, Jul 30. ZVXT would be scheduled to begin a simulated Pre-Open trading session at approximately 16:40:00 CT on Monday, July 30. Assume that ZVXT open occurs at 16:40:05 CT. TPHs would be allowed to send up to ten quotes/orders per second in ZVXT contracts from 16:40:05 to 16:05:05 CT for the purposes of connectivity testing and code path initialization.

Testing Opportunities

The CFE certification environment currently has the simulated pre-open time change for ZVXT and the test product message rate adjustment.

Refer to the following technical specifications for additional details.

Ø US Futures BOE Specification

Ø US Futures FIX Specification

Ø US Futures Opening Process Specification
Please contact the CFE Trade Desk for support or with any questions.

We appreciate your business and remain committed to powering your potential with Cboe products, technologies, and solutions.

CFE Trade Desk
312.786.8700
[email protected]

[cid:[email protected]]

CFE Update to ZVXT Test Product Pre-Open Time and Test Symbol Usage

Reference ID: C2020050500
Overview
Cboe Futures Exchange, LLC ("CFE") has released the Quoting Interface solely for CFE Trade at Settlement ("TAS") contracts effective May 3, 2020. In order to allow CFE Trading Privilege Holders ("TPHs") to confirm connectivity to any order entry session, including Quoting Match Capacity Allocations, and to ensure proper code path initialization, CFE will make changes to the simulated trading schedule for the ZVXT test product effective on Sunday, May 10, 2020.

ZVXT is a test product in the CFE production environment for TAS contracts in Cboe Volatility Index ("VX") futures which have the symbol VXT. TPHs are encouraged to utilize ZVXT for the test purposes of confirming connectivity and ensuring proper code path initialization during the five minutes prior to the start of the Pre-Open queuing period for VXT.
Technical Details
On the effective date, the simulated Pre-Open period for the test product, ZVXT, will be updated to begin five minutes prior to the start of the Pre-Open for VXT.

In addition, TPHs will be allowed to send up to 10 messages per second (consisting of quotes and/or orders) in all test contracts combined at any time that the platform is accepting messages in test contracts. The limit today is 1 quote/order per second in all test contracts combined.

Sunday Example
VXT is scheduled to begin a Pre-Open trading session at approximately 16:00:00 CT on Sunday, May 10 ZVXT would be scheduled to begin a simulated Pre-Open trading session at approximately 15:55:00 CT on Sunday, May 10. Assume ZVXT open occurs at 15:55:04 CT. TPHs would be allowed to send up to 10 quotes/orders per second in ZVXT contracts from 15:55:04 to 16:00:04 CT for the purposes of connectivity testing and code path initialization.

Monday Example
VXT is scheduled to begin a Pre-Open trading session at approximately 16:45:00 CT on Monday, May 11. ZVXT would be scheduled to begin a simulated Pre-Open trading session at approximately 16:40:00 CT on Monday, May 11. Assume that ZVXT open occurs at 16:40:05 CT. TPHs would be allowed to send up to ten quotes/orders per second in ZVXT contracts from 16:40:05 to 16:05:05 CT for the purposes of connectivity testing and code path initialization.

Testing Opportunities

The CFE certification environment will have the simulated pre-open time change for ZVXT and the test product message rate adjustment on Tuesday, May 5, 2020, after the restart of the CFE certification environment. The restart occurs daily at approximately 4:15 pm CT.

Refer to the following technical specifications for additional details.

Ø US Futures BOE Specification

Ø US Futures FIX Specification

Ø US Futures Opening Process Specification
Please contact the CFE Trade Desk for support or with any questions.

We appreciate your business and remain committed to powering your potential with Cboe products, technologies, and solutions.

CFE Trade Desk
312.786.8700
[email protected]

Effective 12:00:05CT CFE halted trading in the following products due to a
Level 1 Market Wide Circuit Breaker:

VX
futures (including VXT and Weekly VX futures), IBHY futures (including IBHYT),
IBIG futures (including IBIGT), VA futures (including VAO)

During the Halt period, new orders and modifies will not be
accepted until the queuing period begins at 12:06:17
.  Cancel order messages
will be accepted at any time.  The Products are scheduled to re-open at
approximately 12:11:17
.

Effective 08:30:23 CT CFE halted trading in the following products due to a
Level 1 Market Wide Circuit Breaker:

VX
futures (including VXT and Weekly VX futures), IBHY futures (including IBHYT),
IBIG futures (including IBIGT), VA futures (including VAO)

During the Halt period, new orders and modifies will not be
accepted until the queuing period begins at 08:40:01 CT
.  Cancel order messages
will be accepted at any time.  The Products are scheduled to re-open at
approximately08:45:01.

Effective 08:35:55 CT the CFE halted trading in the following products due to a Level 1 Market Wide Circuit Breaker.

VX futures (including VXT and Weekly VX futures)IBHY futures (including IBHYT)IBIG futures (including IBIGT)VA futures (including VAO)

During the Halt period, new orders and modifies will not be accepted until the queuing period begins at 08:45:44.  Cancel order messages will be accepted at any time and the Products will be scheduled to re-open at approximately 08:50:44.

Effective 08:34:13 CT the CFE halted trading in:

VX futures (including VXT and Weekly VX futures)
IBHY futures (including IBHYT)
IBIG futures (including IBIGT)
VA futures (including VAO)

During the Halt period, new orders and modifies will not be accepted until the queuing period begins at 08:44:13 CST.  Cancel order messages will be accepted at any time and the Product(s) will be scheduled to re-open at approximately 08:49:13.