Release Notes

Cboe Europe: Participant Readiness for a No-Deal Brexit - ACTION REQUIRED

April 08, 2019 15:59:31

Dear Cboe Europe Participants

In the event of a 'No-Deal' Brexit on Friday 12th April 2019 and launch of the Cboe Netherlands venue on Monday 15th April 2019, Cboe Europe Equities (Cboe) would like to draw Participant attention to the following:

* FIX and BOE Port Jurisdictional Separation

If the Cboe Netherlands venue is launched (currently targeted to be effective Monday April 15th 2019), submission of Orders and Exchange Trade Reports (ETRs) over ports that do not match the jurisdiction of the traded market will be rejected. It is strongly recommended that Participants begin to route their flow down ports that match the jurisdiction (EU or UK) of the traded market as soon as possible this week. The full list of current Participant ports is available via the Logical Ports Dashboard. In the event you require more ports than you currently have available please urgently submit a new port request via the Logical Port Order form.

* Trusting relationship approvals and application of Risk Limits

In order for Participants to avoid setup issues impacting their multi-party and 3PB ETR flow under new entities related to Brexit, participants are advised to approve their trusting relationships as soon as possible via the Cboe Trusting Relation Management Tool. Once these relationships have been approved Participants must then set appropriate risk controls via the Risk Management Tool for each new relationship. Please note that Risk Limits for any new setups must be enabled by Participants at least 1 day prior to go-live, in order to avoid unwanted rejections impacting ETR flows.

* MiFID II RTS 24 Order Record Keeping (ORK) registration

Please note that MiFID II Order Record Keeping (RTS 24) short code/long code mappings for new Brexit entities must be registered by Participants, as required by Cboe Rule Book paragraph 11.9. Participants must ensure that the relevant short code mappings for any new entities are uploaded to the secure MiFID II Identifier Management portal as soon as possible. Cboe is urging Participants to register MiFID II identifiers in advance of order submission under any new entity, failure to do so will result in disciplinary action.

Participants should review the Brexit readiness checklist here to ensure they are fully prepared for Brexit go-live.

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

Trade Desk

Cboe Europe Equities

11 Monument Street | London, EC3R 8AF

T. +44 207 012 8901

E. [email protected] | cboe.com >