System Status

Cboe LIS: 2018 Product Update

December 19, 2017 10:17:47

Dear Cboe LIS Participants,

Cboe Europe Equities (Cboe) would like to inform Participants about the following changes/enhancements to the LIS service in 2018.

Planned Cboe LIS change - Summary

Scheduled date of change in production

1

Spanish market segment - Inclusion of market data from the Madrid listing market in the EBBO calculation

2nd January 2018

2

Reduction in the maximum time allowed for an automated (algo) user to firm-up an invitation request, from two seconds to one second

9th February 2018

3

Change to the scorecard logic for failed invitations where the buyer and seller are the same user to remove the scorecarding process

9th February 2018

4

Reduction in the maximum permitted spread as a percentage, which is used as a control to prevent invitations being issued and trades occurring when the spread is considered too wide

9th February 2018

5

Printing of trades on the Bloomberg IOIA page, where neither party has opted out

January 2018, exact date to be confirmed in a follow up notice

Spanish market segment
Effective 2nd January 2018, Cboe will include market data from the Madrid listing market when calculating the European Best Bid and Offer (EBBO) for Spanish securities. This will bring the Spanish market segment in line with all other country segments. http://markets.cboe.com/europe/equities/notices/135381/release_notes/

Reduction in the maximum permitted firm-up time (automated users)
When the LIS service launched in December 2016 Cboe took a conservative view based on Participant feedback to determine how long automated users would require to firm-up an invitation request, and implemented a maximum two second response period. Since then we have analysed the firm-up response times of existing automated users and seen that the vast majority of responses are under the one second threshold, with the average being significantly quicker. Cboe therefore intends to reduce the maximum permitted time for automated users from two seconds to one second.

Scorecard logic for self-invited invitations
Where the contra invitee is the same user on both sides of the invitation the scorecard principals do not apply to this workflow, therefore this scenario is being removed from the scorecarding logic. There will be no change where there are different algo users within the same firm or if one side is an algo user and the other side is the designated broker of the same legal entity.

Reduction in the maximum permitted spread
Cboe LIS has embedded functionality that restricts the likelihood of users receiving an erroneous price when the system determines the spread is too wide by restricting firm-up invitations from being issued and trades taking place, even within the EBBO. The maximum spread is currently set at 20% of the symbol price with invitations/trades not permitted until the percentage is below 17.5%. To further protect users, Cboe intends to lower the spread parameters to 10% and 7.5% respectively.

Additional reporting to the Bloomberg IOIA page
Following user requests, Cboe LIS trades will be published on the Bloomberg IOIA page where neither party to the trade has opted out. Only trade executions (which are already widely available on Cboe market data) will be sent to Bloomberg IOIA, with no IOI information being disseminated. Participants should contact their account manager or [email protected] to indicate their preference of having this function defaulted on or off. Cboe will look to make this functionality available on a trade by trade basis in a future release.

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

All current and historical Cboe Europe Equities notices, including symbol universe updates, are available online at http://markets.cboe.com/europe/equities/notices/schedule_update/

Kind regards
Trade Desk,
Cboe Europe
11 Monument Street | London, EC3R 8AF
T: +44 20 7012 8901
E: [email protected] | cboe.com >
* Cboe Europe Limited is a Recognised Investment Exchange regulated by the Financial Conduct Authority.
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Cboe Europe Equities: BXE & CXE - Sweep order types and Routing order types disabled - RESOLVED

December 15, 2017 16:26:01

Dear Cboe Europe Equities Participants

Further to yesterdays Notice, please be advised that the previous issue has now been resolved. As such, the DarkLit Sweep, Lit Sweep and Dark Sweep order types, as well as Routing order types will be re-enabled on the BXE and CXE order books effective, 18th December.

All current and historical Cboe Europe Equities notices, including symbol universe updates, are available online at http://markets.cboe.com/europe/equities/notices/.

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

Trade Desk,
Cboe Europe
11 Monument Street | London, EC3R 8AF
T: +44 20 7012 8901
E: [email protected] | cboe.com >
* Cboe Europe Limited is a Recognised Investment Exchange regulated by the Financial Conduct Authority.

Cboe Europe Equities: BXE & CXE - Sweep order types and Routing order types disabled - UPDATE

December 14, 2017 15:57:11

Dear Cboe Europe Equities Participants

Please be advised that the DarkLit Sweep, Lit Sweep and Dark Sweep order types, as well as Routing order types will remain disabled on the BXE and CXE order books tomorrow, 15th December.

All other order types are unaffected.

A further update will be provided tomorrow.

All current and historical Cboe Europe Equities notices, including symbol universe updates, are available online at http://markets.cboe.com/europe/equities/notices/.

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

Trade Desk,
Cboe Europe
11 Monument Street | London, EC3R 8AF
T: +44 20 7012 8901
E: [email protected] | cboe.com >
* Cboe Europe Limited is a Recognised Investment Exchange regulated by the Financial Conduct Authority.

Cboe Europe Equities: BXE & CXE - DarkLit Sweep order type and Routing Order Types Disabled

December 14, 2017 12:09:09

Dear Cboe Europe Equities Participants

Please be advised that the DarkLit Sweep and Routing Order Types have been disabled on the BXE and CXE order books, until further notice.

A further update will be provided later today.

All other order types are unaffected.

All current and historical Cboe Europe Equities notices, including symbol universe updates, are available online at http://markets.cboe.com/europe/equities/notices/.

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

Trade Desk,
Cboe Europe
11 Monument Street | London, EC3R 8AF
T: +44 20 7012 8901
E: [email protected] | cboe.com >
* Cboe Europe Limited is a Recognised Investment Exchange regulated by the Financial Conduct Authority.

Cboe Europe Equities: BXE & CXE - Dark Sweep and Lit Sweep Order Types Disabled - UPDATE

December 13, 2017 16:45:13

Dear Cboe Europe Equities Participants

Further to yesterdays Notice, please be advised that the Dark Sweep and Lit Sweep order types will remain disabled on the BXE and CXE order books tomorrow, 14th December, whilst testing of a software patch continues. A further update will be provided tomorrow.

All other order types including the Dark Lit Sweep are unaffected.

All current and historical Cboe Europe Equities notices, including symbol universe updates, are available online at http://markets.cboe.com/europe/equities/notices/.

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

Trade Desk,
Cboe Europe
11 Monument Street | London, EC3R 8AF
T: +44 20 7012 8901
E: [email protected] | cboe.com >
* Cboe Europe Limited is a Recognised Investment Exchange regulated by the Financial Conduct Authority.

Cboe Europe Equities: BXE & CXE - Dark Sweep and Lit Sweep Order Types Disabled - UPDATE

December 12, 2017 16:20:11

Dear Cboe Europe Equities Participants

Further to the Notice this morning, please be advised that the Dark Sweep and Lit Sweep order types will remain disabled on the BXE and CXE order books tomorrow, 13th December, whilst testing of a software patch is undertaken. A further update will be provided tomorrow.

All other order types including the Dark Lit Sweep are unaffected.

All current and historical Cboe Europe Equities notices, including symbol universe updates, are available online at http://markets.cboe.com/europe/equities/notices/.

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

Trade Desk,
Cboe Europe
11 Monument Street | London, EC3R 8AF
T: +44 20 7012 8901
E: [email protected] | cboe.com >
* Cboe Europe Limited is a Recognised Investment Exchange regulated by the Financial Conduct Authority.

Cboe Europe Equities: BXE & CXE - Dark Sweep and Lit Sweep Order Types Disabled

December 12, 2017 08:11:45

Please be advised that both the Dark Sweep and Lit Sweep order types have been disabled on the BXE and CXE order books.

All other order types including the Dark Lit Sweep are operating as normal.

A further update will be provided shortly.

Current and historical Cboe Europe Equities status alerts and updates are available online at http://markets.cboe.com/europe/equities/notices/.

Trade Desk,
Cboe Europe
11 Monument Street | London, EC3R 8AF
T: +44 20 7012 8901
E: [email protected] | cboe.com >
* Cboe Europe Limited is a Recognised Investment Exchange regulated by the Financial Conduct Authority.

Cboe Europe Equities: BXE & CXE - Dark Sweep and Lit Sweep Order Types Disabled - RESOLVED

December 11, 2017 17:09:34

Dear Cboe Europe Equities Participants

Earlier today the Cboe Europe Equities BXE and CXE order books experienced a technical issue where certain Dark Sweep orders were handled incorrectly. Some Dark Sweep orders received executions where the residual was executed on the local Lit book. As a result, Cboe Europe Equities took action to disable the Dark Sweep order type. As a precaution, the Lit Sweep order type was also disabled.

The root cause has now been identified and the issue will be resolved by a software fix overnight tonight in readiness for Start of Day 12th December 2017. Both Lit Sweep and Dark Sweep order types will be available on BXE and CXE order books as normal from tomorrow morning.

All current and historical Cboe Europe Equities notices, including symbol universe updates, are available online at http://markets.cboe.com/europe/equities/notices/.

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

Trade Desk,
Cboe Europe
11 Monument Street | London, EC3R 8AF
T: +44 20 7012 8901
E: [email protected] | cboe.com >
* Cboe Europe Limited is a Recognised Investment Exchange regulated by the Financial Conduct Authority.

Cboe Europe Equities: BXE & CXE - Dark Sweep and Lit Sweep Order Types Disabled

December 11, 2017 14:33:35

Further to the previous notice, please be advised that both the Dark Sweep and Lit Sweep order types have been disabled on the BXE and CXE order books.

All other order types including the Dark Lit Sweep are operating as normal.

A further update will be provided shortly.

Current and historical Cboe Europe Equities status alerts and updates are available online at http://markets.cboe.com/europe/equities/notices/.

Trade Desk,
Cboe Europe
11 Monument Street | London, EC3R 8AF
T: +44 20 7012 8901
E: [email protected] | cboe.com >
* Cboe Europe Limited is a Recognised Investment Exchange regulated by the Financial Conduct Authority.

Cboe Europe Equities: BXE - Dark Sweep and Lit Sweep Order Types Disabled

December 11, 2017 14:05:32

Please be advised that both the Dark Sweep and Lit Sweep order types have been disabled on the BXE order book.

All other order types including the Dark Lit Sweep are operating as normal.

All other order books are operating normally.

A further update will be provided shortly.

Current and historical Cboe Europe Equities status alerts and updates are available online at http://markets.cboe.com/europe/equities/notices/.

Trade Desk,
Cboe Europe
11 Monument Street | London, EC3R 8AF
T: +44 20 7012 8901
E: [email protected] | cboe.com >
* Cboe Europe Limited is a Recognised Investment Exchange regulated by the Financial Conduct Authority.

Cboe Europe Equities: SOR update, effective Tuesday 2nd January, 2018

November 30, 2017 16:26:56

Dear Cboe Europe Equities Participants,

Please note that effective Tuesday 2nd January 2018, due to new increased fees implemented by NASDAQ OMX, Cboe Europe Equities (Cboe) will no longer support Smart Order Routing (SOR) to external NASDAQ OMX venues, impacting Stockholm, Copenhagen and Helsinki market segments.

SOR will remain available for Stockholm, Copenhagen and Helsinki instruments on the markets Cboe BXE, Cboe CXE and Turquoise.

All other SOR arrangements remain unchanged.

Testing
This change is available for testing in the Cboe BXE and CXE Certification (UAT) environments effective Monday 4th December 2017.

Production
This change will be made in the Cboe BXE and CXE Production environments effective Tuesday 2nd January 2018.

All current and historical Cboe notices, including symbol universe updates, are available online at http://markets.cboe.com/europe/equities/notices/.

Please contact the Trade Desk or your Account Manager 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 >

Cboe Europe Equities: Change of email domain

November 29, 2017 06:45:57

Dear Cboe LIS Participants,

Please be aware that, effective Tuesday 5th December 2017, all Cboe LIS outgoing email will change domain from [email protected] to [email protected].

Incoming emails should be directed to [email protected] from the above date.
Emails sent to [email protected] will continue to be accepted until further notice.

All current and historical Cboe notices, including symbol universe updates, are available online at http://markets.cboe.com/europe/equities/notices/.
Please contact the Trade Desk or your Account Manager 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 >

Cboe Europe First Alert - Vienna Primary Exchange Issue Resolved

November 09, 2017 09:46:04

Dear Cboe Europe Participants

Please be advised that technical issues reported by the Vienna Primary Exchange have been resolved. Peg orders and Dark Pool orders on Vienna instruments have been re-enabled.

Regular trading was not impacted during this issue and all systems continue to operate normally.

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

Current and historical Cboe Europe status alerts and updates are available online at http://markets.cboe.com/europe/equities/notices/system/.

Trade Desk
Cboe Europe
P: +44.207.012.8901
E: [email protected]

Cboe Europe has enabled routing to Vienna

November 09, 2017 09:44:17

Technical issues identified with Vienna have been resolved. Cboe Europe has re-enabled all routing to Vienna as of 09:43:50 London time.

Support for peg order functionality, price collars and Dark Pool orders for Vienna instruments has been restored.

Regular trading and routing to other venues is not impacted.

All Cboe Europe systems continue to operate normally.

You can view Cboe Global Markets status online at http://markets.cboe.com/europe/equities/notices/system/

Trade Desk
Cboe Europe Equities
Phone: +44 20 7012 8901
Email: [email protected]
markets.cboe.com

* Cboe Europe Limited is a Recognised Investment Exchange regulated by the Financial Conduct Authority.

Bats Europe First Alert - Vienna Primary Exchange Issue

November 09, 2017 09:30:44

Dear Cboe Europe Participants

Please be advised that due to issues identified with Vienna, Cboe Europe is unable to support peg order functionality and all Dark Pool orders on Vienna instruments.

Regular trading is not impacted and all systems are operating normally.

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

Current and historical Cboe Europe status alerts and updates are available online at http://markets.cboe.com/europe/equities/notices/.

Trade Desk
Cboe Europe
P: +44.207.012.8901
E: [email protected]

Cboe Europe has disabled routing to Vienna

November 09, 2017 09:26:10

Due to technical issues identified with Vienna, Cboe Europe has suspended all routing to Vienna as of 09:25:11 London time.

Also be advised that due to technical issues identified with Vienna, quality market data is unavailable. Therefore, Cboe Europe will not support peg order functionality, price collars and Dark Pool orders for Vienna instruments until the issue is resolved.

Regular trading and routing to other venues is not impacted.

All Cboe Europe systems continue to operate normally.

You can view Cboe Global Markets status online at http://markets.cboe.com/europe/equities/notices/system/

Trade Desk
Cboe Europe Equities
Phone: +44 20 7012 8901
Email: [email protected]
markets.cboe.com

* Cboe Europe Limited is a Recognised Investment Exchange regulated by the Financial Conduct Authority.

Bats Europe: External Dark Liquidity Partner update, effective Mon 2nd Oct, 2017

September 06, 2017 14:45:47

Dear users of the Bats Europe Smart Order Routing (SOR) facility,

Please note that effective Monday 2nd October 2017, Bats Europe will no longer support SOR routing to external Dark Liquidity Partners in Production.

All other order routing arrangements remain unchanged.

Testing
This change is available for testing in the Bats BXE and CXE Certification (UAT) environments with immediate effect.

Production
This change will be made in the Bats BXE and CXE Production environments effective Monday 2nd October 2017.

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, a CBOE company
Phone: +44 20 7012 8901
Email: [email protected]
www.bats.com
* Bats Trading Limited is a Recognised Investment Exchange regulated by the Financial Conduct Authority.

Bats Europe: System Status - NORMAL

July 14, 2017 08:53:41

Dear Bats Europe Participants,

To confirm, the Bats Mandatory Exchange Release has been deployed successfully to our BXE, CXE and TRF production environments.

All Bats systems and market data feeds are operating normally.

Current and historical Bats Europe status alerts and updates are available online at www.batstrading.co.uk/alerts.
Please contact the Trade Desk or your Account Manager if you have any questions.
Trade Desk,
Bats Europe, a CBOE company
Phone: +44 20 7012 8901
Email: [email protected]
www.bats.com
* Bats Trading Limited is a Recognised Investment Exchange regulated by the Financial Conduct Authority.

Bats Europe First Alert RESOLVED - Bats LIS issue

January 13, 2017 08:19:13

Please be advised that Bats Europe has resolved the internal issue with Bats LIS.

The Bats LIS service has re-opened at 08:15.

Current and historical Bats Europe status alerts and updates are available online at http://www.bats.com/europe/equities/notices/.

Trade Desk
Bats Europe
P: +44.207.012.8901
E: [email protected]
www.batstrading.co.uk
* Bats Trading Limited is authorised and regulated by the Financial Conduct Authority

Bats Europe First Alert UPDATE - Bats LIS issue

January 13, 2017 08:12:56

Please be advised that Bats Europe has resolved the internal issue with Bats LIS.
As a result, client gateways have been re-opened to accept connections.
The Bats LIS service will open for trading at 08:15.

Current and historical Bats Europe status alerts and updates are available online at http://www.bats.com/europe/equities/notices/.

Trade Desk
Bats Europe
P: +44.207.012.8901
E: [email protected]
www.batstrading.co.uk
* Bats Trading Limited is authorised and regulated by the Financial Conduct Authority

Bats Europe First Alert - Bats LIS issue

January 13, 2017 07:55:12

Please be advised that Bats Europe is currently investigating an internal issue with Bats LIS.
As a result, client gateways will be disconnected until further notice.
A further update will be sent shortly.

Current and historical Bats Europe status alerts and updates are available online at www.batstrading.co.uk/alerts.

Trade Desk
Bats Europe
P: +44.207.012.8901
E: [email protected]
www.batstrading.co.uk
* Bats Trading Limited is authorised and regulated by the Financial Conduct Authority