As indicated in a previous system status notice, Cboe Options Exchange ("C1") identified a limitation in the number of available sequenced messages on the Multicast PITCH and TOP proprietary market data feeds. This is a result of all proprietary Cboe market data feeds supporting a four (4) byte decimal sequence number which has a maximum value of 4,294,967,295. The result of this limitation is the risk of Cboe proprietary PITCH/TOP data feeds becoming inaccessible under extreme traffic conditions for both electronic and open outcry trading systems.

Effective Monday, March 2, 2020 a patch will be deployed to allow for the proprietary Multicast TOP feed, PAR, and floor data wall systems to remain available in the event C1 exceeds the current maximum allowed sequence message on any PITCH market data unit.

The risk of exceeding the maximum allowed sequence messages on the Multicast PITCH feed will remain on Monday and will continue to be monitored closely while a long term sequence rollover solution is implemented (see below for more details).

In recognition of the need for a long term solution on the Multicast PITCH feed, Cboe will be working diligently to implement a sequence rollover solution. Matching Unit sequence numbers start at one (1) at the beginning of the day and are incremented by one (1) for every sequenced message within a particular symbol unit. As of a soon to be announced effective date, when the message sequence number reaches the maximum value of 4,294,967,295, the message sequence number will then rollover back to one (1). Please refer to the Options Multicast PITCH Specification for additional details. Cboe will issue a follow up notice where we will provide dates for both member testing opportunities as well as the production release.

Please contact the Cboe Trade Desk or your director of sales with any questions.

Cboe Trade Desk
[email protected]