Release Notes

Bats Europe: Test availability for MiFID II - RTS24 and Algo Testing requirements

August 22, 2016 10:34:49

Dear Bats Europe Participants

As part of its MiFID II preparations, Bats Europe (Bats) would like to announce test environment availability for the following MiFID II requirements:

* RTS 24: Record Keeping - Trading venues will be required to maintain records of all orders submitted to their systems. Bats' approach involves requiring 'short code IDs' on orders and then Participants supplying the mapping from those short codes to their longer form National IDs or Algorithm IDs through a mapping file out of band. This mapping is stored securely until such time as a regulator requests the relevant order records. Bats is pleased to announce the availability in our customer test environments of the complete record keeping system for Participant testing. Further detail can be found here: RTS 24: Record Keeping

* Algo Testing - Bats must require Participants to test algorithms and provide some facility to support that testing. Bats will seek to facilitate Participant testing by simulating a number of conditions as accurately as possible in its UAT environment, including disorderly market conditions. Further detail can be found here: Algo Testing

Documentation

* RTS24: Record Keeping:

o RTS 24: Record Keeping

o Approach to MiFID II Record Keeping

o Secure Web API

o Identifier Management API

* Algo Testing:

o Algo Testing

Testing

* These enhancements above are available for testing in the BXE and CXE Certification (UAT) environments with immediate effect.

Production

* Participants wishing to certify and supply RTS 24 relevant identifiers in the BXE and CXE Production environments will receive further information on how to do so upon request. Any identifier data registered prior to the mandatory supply of identifiers on Friday 8th September 2017, will be removed upon that date.

* Algo Testing functionality is a UAT only requirement.

Please contact the Trade Desk or your Account Manager if you have any questions.

All current and historical Bats Europe notices, including symbol universe updates, are available online at www.batstrading.co.uk/alerts.

Trade Desk
Bats Europe ... Making Markets Better
P: +44.207.012.8901
E: [email protected]
www.batstrading.co.uk
* BATS Trading Limited is a Recognised Investment Exchange regulated by the Financial Conduct Authority.