TRF Release Notes

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Last Updated 09:53:23 GMT

UPDATE: Cboe Europe Equities: Brexit Certification (UAT) Testing - Weekly Availability Schedule

March 14, 2019 15:31:54

Dear Cboe Europe Equities Participants

Further to the previous notice regarding Certification (UAT) environment testing schedule, Cboe Europe (Cboe) will be amending the schedule for configuration of the BXE, CXE and APA Certification (UAT) environments going forward. Specifically, starting from Monday 18th March 2019, the UAT environments will be configured as separate UK and EU venues (Brexit-mode) and will remain so going forward. This means that UAT will no longer be reverted to a single combined venue (pre-Brexit mode).

Additionally, effective Monday 25th March 2019 Cboe will enforce Transaction Reporting validation on order and ETR flow on Participants who conduct cross border trading. Participants who have not elected for a transaction reporting solution may find they receive rejections. Full details of trading activity in scope and Transaction Reporting solutions can be found here. Please contact your Account Manager if you have any questions

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

Functionally this will result in the following behaviour (changes highlighted in yellow):

Functionality

Every Day
(UAT BXE, CXE and APA - Separate UK and EU venues)

Order and ETR entry

FIX and BOE session jurisdiction will be enforced.
Orders and ETRs will be rejected if the jurisdiction of the symbol differs from that of the FIX or BOE session.

UK and EU Venue MICs in LastMkt and ExecVenue fields

UK venue MICs will be supplied in the LastMkt field in Execution messages and ExecVenue field on Multicast and TCP PITCH on London and Swiss symbols, whereas EU venue MICs will be supplied for all other symbols. See Section 4 of the Guidance note for more details.

Trading Venue flagging for trade reports (APA)

The regulatory jurisdiction (UK or EU) of the bank code used for trade reporting into the Cboe APA will be used to denote whether the trade report is targeting the UK or EU APA. The resulting Cboe APA will then be reflected on market data via the Cboe Trade Flags field. See Section 5 of the Guidance Note for more details.

Trading Venue flagging for trade reports (BXE/CXE)

The value published in the Cboe Trade Flags field will be dependent on the jurisdiction of the symbol. See Section 5 of the Guidance Note for more details.

ODROP session filtering

ODROP session jurisdiction will be enforced. An ODROP will receive flow only for symbols in line with its jurisdiction (UK vs EU venue).

FIXDROP session filtering

FIXDROP session jurisdiction will be enforced. A FIXDROP will receive flow only for symbols in line with its jurisdiction (UK vs EU venue).

Transaction Reporting

Effective Monday 25th March 2019 Order handler validation of cross border trading for transaction reporting as per the website

Participants who encounter erroneous behavior or rejections at trade submission are encouraged to ensure their configuration is in line with our Brexit mode setup. For example, when submitting an order with correct symbol information as per the Reference Data files and the order is rejected with 'No symbology for Symbol' or similar, it is likely the connected session does not support the jurisdiction of the symbol. Symbols on the Cboe EU venue are not supported on Cboe UK Venue FIX, BOE, FIXDROPs and ODROPs session. The jurisdiction of a session can be identified through the Cboe Participant Portal's Logical Ports page and the jurisdiction of a symbol can be identified through the Certification Reference Data files.

Participants without EU venue FIX, BOE or drop copy sessions should urgently provide a completed Logical Port Order Form to the Trade Desk.

Please refer to the Guidance Note for specific detail on each Brexit-related change. All Participants are required to review the Guidance Note and ensure adherence to the timelines in Section 11 (page 17) for each of the upcoming mandatory changes.

In addition, Cboe's Brexit microsite resource should be checked regularly by Participants for upcoming updates regarding Brexit. All current and historical Cboe notices, including symbol universe updates, are available online.

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 >

REMINDER: Cboe Europe Equities: Change to Trade Data File, effective Friday 15th March 2019

March 11, 2019 10:01:00

Dear Cboe Europe Equities Participants

Cboe Europe Equities (Cboe) will be appending one additional column to the end of the Trade Data CSV file, effective Friday 15th March 2019.

Trade Data CSV file
A column with the heading named "Jurisdiction" will be appended to the end of the Trade Data CSV file. The values supported in this column will be "UK" and "EU".

In BXE and CXE this column and its populated value represent which Cboe Market Operator the transaction was executed on, and in the TRF environment the values represent the Cboe APA that the trade was reported to.

To aid in backward compatibility, existing columns will not be removed or re-ordered.

This change will be effective for the BXE, CXE and TRF trade data files upon the PRODUCTION effective date indicated above.

Testing
The addition of the column has been reflected in the updated Trade Data File Specification in the BXE, CXE and TRF CERTIFICATION environments effective immediately.

All current and historical Cboe notices, including symbol universe updates, are available online.

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 to Trade Data File, effective Friday 15th March 2019

March 01, 2019 16:31:13

Dear Cboe Europe Equities Participants

Cboe Europe Equities (Cboe) will be appending one additional column to the end of the Trade Data CSV file, effective Friday 15th March 2019.

Trade Data CSV file
A column with the heading named "Jurisdiction" will be appended to the end of the Trade Data CSV file. The values supported in this column will be "UK" and "EU".

In BXE and CXE this column and its populated value represent which Cboe Market Operator the transaction was executed on, and in the TRF environment the values represent the Cboe APA that the trade was reported to.

To aid in backward compatibility, existing columns will not be removed or reordered.

This change will be effective for the BXE, CXE and TRF trade data files, upon the PRODUCTION effective date indicated above.

Testing
The addition of the column has have been reflected in the updated Trade Data File Specification, and will be made available in the BXE, CXE and TRF CERTIFICATION environments for testing from Monday 4th March 2019.

All current and historical Cboe notices, including symbol universe updates, are available online.

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: New EU Venue Cboe RIC and Bloomberg codes & Reference Data changes, effective Mon 1st April 2019

March 01, 2019 13:15:39

Dear Cboe Europe Participants

Effective Monday 1st April 2019 (subject to EU venue launching) please be advised that new Cboe Europe Refinitiv (Reuters) RIC and Bloomberg Exchange codes are being introduced for the new EU venue represented as reuters_ric_bats and bloomberg_bats in the reference data file. As a consequence of this, Participants who are submitting Orders and/or TCRs to Cboe using Cboe Europe Refinitiv (Reuters) RIC values must use the correct venue suffix, otherwise the Order or TCR Will be rejected. Additionally, the Cboe Europe Refinitiv (Reuters) RIC will be blanked from the enhanced TRF and SIS reference data file. Details of both changes can be found below:

Order & TCR Entry Considerations:
If using the Cboe Europe Refinitiv (Reuters) RIC as the symbology for Order and TCR entry, the suffix used must be for the venue it is being entered into i.e. .CHI for UK, .CHE for EU, or .BS for UK, .BSU for EU etc. Using the incorrect suffix will result in your Order or TCR being rejected. Please note that Bloomberg Exchange Codes are not supported for Order or TCR entry.

This is effective in production from Monday 1st April 2019 (subject to EU venue launching). The new EU venue suffixes will be supported in UAT for Brexit test days and during production dress rehearsals.

Reference Data File changes:

Name

Bloomberg Exchange Code
(bloomberg_bats)

Refinitiv (Reuters) Exchange Code
(reuters_ric_bats)

UK

EU

UK

EU

CXE

IX

I2

.CHI

.CHE

BXE

EB

E2

.BS

.BSU

TRF

Will remain blank in file

Will remain blank in file

To be blanked from file

To be blanked from file

LIS

IX

I2

.CHI

.CHE

SIS

Will remain blank in file

Will remain blank in file

To be blanked from file

To be blanked from file

BXE, CXE & LIS

* reuters_ric_bats column - Currently only populated in the enhanced version of the file. The RIC values in this column will be as per the changes above.

* bloomberg_bats column - The Bloomberg ticker values in this column will be as per the changes above.
TRF & SIS
The .BCO suffix is not, nor has ever been supported for trade report or quote entry and therefore will be removed (blank) from the enhanced TRF and SIS reference data files. Participants who require this reference data should contact the appropriate vendor. The Cboe BXE and CXE exchange suffix (i.e. .CHI, .CHE, .BS, .BSU) is still supported for TCR and quote entry and can be found in the BXE and CXE symbol reference data files. Note that the APA Jurisdiction is determined by the submitting bank code and not symbol suffix.

* reuters_ric_bats column - Currently only populated in the enhanced version of the file. The values in this column will be removed (blank). The column will remain in the file.

Testing
The blanking of the reuters_ric_bats column values in the TRF and SIS symbol file will be effective in CERTIFICATION (UAT) environments from Monday 4th March 2019 and will remain in place going forward.

The new suffixes will be available for Order and TCR entry, in addition to being present in the symbol in CERTIFICATION (UAT) environments when configured as separate UK and EU venues (Brexit-mode) as per this schedule effective from Monday 4th March 2019.

Production
These changes will be available in PRODUCTION as part of our remaining Brexit Saturday Dress Rehearsal dates occurring on Saturday 2nd March and Saturday 16th March 2019, with attendance of at least one of these dates being mandatory, as per the Dress Rehearsal Testing Guide.

All of the above changes will take effect in the PRODUCTION environments at the start of day on Monday 1st April 2019 (subject to EU venue launching).

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 >

Subject: UPDATE: Cboe Europe Equities: Brexit Certification (UAT) Testing - Weekly Availability Schedule

February 26, 2019 17:04:34

Dear Cboe Europe Equities Participants

Further to the previous notice regarding Certification (UAT) environment testing schedule, Cboe Europe (Cboe) will be amending the schedule for configuration of the BXE, CXE and APA Certification (UAT) environments going forward. Specifically, starting from next Monday 4th March 2019, every Monday, Wednesday, Thursday and Friday the UAT environments will be configured as separate UK and EU venues (Brexit-mode). This means that only once a week, on Tuesdays, this configuration will be reverted to a single combined venue (pre-Brexit mode).

Functionally this will result in the following behaviour (added days highlighted in yellow):

Functionality

Monday, Wednesday, Thursday & Friday
(UAT BXE, CXE and APA - Separate UK and EU venues)

Tuesday
(UAT BXE, CXE and APA - Single UK venue)

Order and ETR entry

FIX and BOE session jurisdiction will be enforced.
Orders and ETRs will be rejected if the jurisdiction of the symbol differs from that of the FIX or BOE session.

FIX and BOE session jurisdiction will not be enforced.
Orders and ETRs for either jurisdiction can be entered via a UK or EU FIX or BOE session.

UK and EU Venue MICs in LastMkt and ExecVenue fields

UK venue MICs will be supplied in the LastMkt field in Execution messages and ExecVenue field on Multicast and TCP PITCH on London and Swiss symbols, whereas EU venue MICs will be supplied for all other symbols. See Section 4 of the Guidance note for more details.

Only UK venue MICs will be supplied in the LastMkt and ExecVenue field for all symbols.

Trading Venue flagging for trade reports (APA)

The regulatory jurisdiction (UK or EU) of the bank code used for trade reporting into the Cboe APA will be used to denote whether the trade report is targeting the UK or EU APA. The resulting Cboe APA will then be reflected on market data via the Cboe Trade Flags field. See Section 5 of the Guidance Note for more details.

Regardless of the jurisdiction configuration of the bank code used for trade reporting into the Cboe APA, the Cboe Trade Flags field will contain UK values.

Trading Venue flagging for trade reports (BXE/CXE)

The value published in the Cboe Trade Flags field will be dependent on the jurisdiction of the symbol. See Section 5 of the Guidance Note for more details.

All trade reports will be published with UK values in the Cboe Trade Flags field.

ODROP session filtering

ODROP session jurisdiction will be enforced. An ODROP will receive flow only for symbols in line with its jurisdiction (UK vs EU venue).

ODROP session jurisdiction will not be enforced. Flow for either jurisdiction will be received down an ODROP.

FIXDROP session filtering

FIXDROP session jurisdiction will be enforced. A FIXDROP will receive flow only for symbols in line with its jurisdiction (UK vs EU venue).

FIXDROP session jurisdiction will not be enforced. Flow for either jurisdiction will be received down a FIXDROP.

Participants who encounter erroneous behavior or rejections at trade submission are encouraged to ensure their configuration is in line with our Brexit mode setup. For example, when submitting an order with correct symbol information as per the Reference Data files and the order is rejected with 'No symbology for Symbol' or similar, it is likely the connected session does not support the jurisdiction of the symbol. Symbols on the Cboe EU venue are not supported on Cboe UK Venue FIX, BOE, FIXDROPs and ODROPs session. The jurisdiction of a session can be identified through the Cboe Participant Portal's Logical Ports page and the jurisdiction of a symbol can be identified through the Certification Reference Data files.

Participants without EU venue FIX, BOE or drop copy sessions should urgently provide a completed Logical Port Order Form to the Trade Desk.

Please refer to the Guidance Note for specific detail on each Brexit-related change. All Participants are required to review the Guidance Note and ensure adherence to the timelines in Section 11 (page 17) for each of the upcoming mandatory changes.

In addition, Cboe's Brexit microsite resource should be checked regularly by Participants for upcoming updates regarding Brexit. All current and historical Cboe notices, including symbol universe updates, are available online.

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 >

REMINDER - Cboe Europe: Participant Readiness for Brexit

February 18, 2019 09:51:07

Dear Cboe Europe Participants

Cboe Europe Equities (Cboe) would like to announce the following dates to ensure Participant readiness for Brexit:

* Thursday 28th February 2019 - UK and EU venue membership paperwork due

* Friday 15th March 2019 - RTRG onboarding and certification due

* Saturday 16th March 2019 - Final Saturday Dress Rehearsal Test opportunity

* Monday 25th February to Friday 5th April 2019 - Onboarding & Testing Change Freeze - Cease on all non Brexit related onboarding and UAT testing activities

Further to the previous Exchange Notice and Guidance Note, Cboe Europe's team is in the process of executing its Brexit strategy that includes establishing itself as a EU27 Market Operator in Amsterdam in order to mitigate possible constraints to cross-border trading following the UK's departure from the EU in 2019. Cboe is taking this step to ensure that in the absence of an agreed 'exit deal' between the UK and the EU27, it can continue to serve its customers. However, we will continue to monitor the negotiations and will react as quickly as possible to any developments that would cause us to alter our strategy.

Participants will be unable to trade on the new venue until regulatory authorisation has been obtained and we have a confirmed launch date. Subject to successful completion of the application process, Cboe will configure new Participants to be able to trade in UK/CH and EEA symbols on the existing Cboe Europe Equities venue. To mitigate against the risk of not being able to trade on Cboe markets, should the Cboe EU venue launch be postponed, it is strongly recommended that firms who intend to be Participants of Cboe EU are also participants of Cboe UK Equities during the interim period.

Cboe therefore recommends that Participants ensure all connectivity is tested and membership paperwork has been completed by no later than Thursday, 28th February 2019 to guarantee readiness for Brexit, effective Monday 1st April 2019. Whilst Cboe will make every effort to ensure Participants are ready for Brexit on the effective date, membership paperwork received after Thursday, 28th February 2019 will be processed on a best efforts basis. Cboe previously announced Production Saturday Dress Rehearsal Tests which will allow Participants and vendors to simulate post Brexit system behaviour in Production in advance of Monday 1st April 2019. In order to prioritise the Brexit testing and configuration for Participants, Cboe are implementing a freeze on changes not related to Brexit including non-essential onboarding and UAT environments, effective Monday 25th February until Friday 5th April 2019.

Regulatory Transaction Reporting

Further to the previous Exchange Notice Cboe would like to remind Participants about the transaction reporting requirement when conducting cross border trading. Cross border trading is defined as trading activity conducted on a venue that is outside of the jurisdiction that the entity is registered. The only trading activity that is exempt from transaction reporting, is end of day on-exchange trade reports (ETRs) that are used for settlement purposes.

Impacted Participants

Existing non UK or EU regulated firms will need to continue to transaction report on the relevant Cboe venue, as appropriate.

Post Brexit, the following Participants will additionally be in scope:

* UK regulated firms who plan on conducting trading activity on the Cboe EU venue post Brexit

* EU regulated firms who plan on conducting trading activity on the Cboe UK venue post Brexit

To guarantee readiness for Brexit and to ensure Cboe meets its Transaction Reporting obligations, please ensure you have successfully certified and onboarded for the RTRG service by no later than Friday 15th March 2019. Further details on the RTRG service can be found in the RTRG Specification. For any general membership and RTRG queries, please contact your Account Manager. If your query is regarding the technical onboarding please contact the Trade Desk.

Please refer to the Guidance Note for specific details. All Participants are required to review the Guidance Note and ensure adherence to the timelines in Section 11 (page 17) for each of the upcoming mandatory changes.

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 >

REMINDER: Cboe Europe Equities: Brexit Mandatory Technical Changes, effective Friday 15th Feb 2019

February 11, 2019 12:44:38

Dear Cboe Europe Participants,

Cboe Europe (Cboe) would like to highlight the following technical changes coming to the Cboe Europe Equities platforms, in preparation for the UK's impending withdrawal from the European Union (EU) in March 2019.

The Cboe Europe Equities Brexit Technical Guidance Note details the technical interface changes required for all Cboe Europe Equities interfaces, which are summarised below:

* Market Data Interfaces:

o Changes going live effective start of day this Friday 15th February 2019:

* Redistribution of Symbols between Matching Units: Symbols are distributed across Matching Units by a market and alphabetical symbol distribution. From 15th February 2019, in preparation for the creation of separate UK and EU venues, some markets will be migrated to a different Matching Unit in the BXE, CXE, SIS and APA environments. This will result in changes in the subscription details for receiving Multicast PITCH market data for these markets. In addition, on the effective date, the matching_unit column in the symbol reference data files will be updated to reflect the new unit to which symbols from these markets will be allocated.

* Trading Venue Segregation for Multicast PITCH: From 15th February 2019, for the BXE and CXE environments, new UK and EU venue Multicast PITCH feed infrastructure will be established to which Participants will need to migrate to, which will run alongside the existing legacy feeds. From this point onwards, Participants are urged to begin migrating over to the new feeds. On 27th September 2019 the legacy Multicast PITCH feeds will no longer be available. These changes will impact all current consumers of BXE and CXE Multicast PITCH, and Participants will be required to subscribe to a new set of multicast feeds as well as connect to new GRP and SPIN ports.

* Multicast PITCH Transaction Markers: From 15th February 2019, Market Data Transaction Markers will be added to Multicast PITCH in BXE and CXE. This functionality adds a Transaction Begin message to the protocol to indicate that any subsequent messages up to the accompanying Transaction End message, are all part of the same transaction block.

* Microseconds on TCP PITCH: All messages currently sent on TCP PITCH contain a Timestamp field representing the number of milliseconds since midnight. From 15th February 2019, these messages will be updated to begin sending the number of microseconds since midnight. In order to facilitate the structural change, all existing messages will be replaced with new message types. The existing messages will cease to be sent from go-live.

o Changes going live on Brexit date:

* EU Venue MIC Codes: From 1st April 2019, new MICs for the EU venue will be published in the Execution Venue field of the Trade Message - Extended Form message type on Multicast and TCP PITCH feeds in BXE and CXE environments.

* Trade Reporting to the UK and EU APAs: From 1st April 2019, the existing Cboe Trade Timing Indicator field will be renamed to the Cboe Trade Flags field and will also convey the Cboe Regulated Entity (UK or EU) to which a trade report was submitted. This change will apply to the Trade Message - Extended Form and Trade Message - Unknown Symbol message types on Multicast and TCP PITCH feeds in the BXE, CXE and APA (TRF) environments.

* Order Entry, Trade Entry & DROP Interfaces (all going live on Brexit date):

o EU Venue MIC Codes: From 1st April 2019, new segments MICs for the EU venue will be supplied in the LastMkt (FIX tag 30) field in the Execution Report, Trade Cancel/Correct, Trade Capture Report messages on FIX, BOE ODROP & FIXDROP interfaces in BXE, CXE and Cboe LIS environments.

o Trade Reporting to the UK and EU APA: From 1st April 2019, the regulatory jurisdiction (UK or EU) of the bank code used for trade reporting into the Cboe APA will be used to denote whether the trade report is targeting the UK or EU APA. Depending on the post Brexit plans of each firm using the APA, firms may need to request new EU and/or UK bank codes and then populate the relevant bank code in the PartyID (FIX tag 448) field of the Trade Capture Report message on FIX and BOE interfaces. The resulting Cboe APA will then be reflected on market data via the Cboe Trade Flags field. Cboe will be reaching out to firms using it's APA to understand each firm's plans, in order for the correct regulatory jurisdiction to be applied to each bank code referenced above.

o UK and EU ODROP and FIXDROP Sessions: As part of the Brexit Migration process, Participants will be allocated new ports to interface with the EU venue. All existing ports will remain allocated to the UK venue. It should be noted that effective immediately ODROP sessions will be configured to monitor ports and only replicate flow that will be part of the same jurisdiction (EU or UK venue) from 1st April 2019. FIXDROP ports will also only provide flow relating to their respective venue from 1st April 2019, but will provide trades on all symbols prior to that point. Participants should therefore cater for receiving trades for all symbols down both their existing and future EU venue FIXDROP port until 1st April 2019. From 1st April 2019 the FIXDROP ports will only provide trades for symbols on their respective venues.

* Transaction Reporting Obligations:

o As part of its Brexit programme, Cboe would like to remind Participants of their Transaction Reporting obligation when conducting cross border trading. Cross border trading in this context is defined as trading activity conducted on a Cboe venue that is outside of the jurisdiction that the Participant entity is registered. Further information regarding the transaction reporting obligation can be found here.

o To ensure continuity of access in the event of a hard Brexit, impacted Participants need to certify for a transaction reporting solution by Friday 15th March 2019.

Please also note that Cboe will hold three Brexit Saturday Dress Rehearsal dates occurring on Saturday 16th February, Saturday 2nd March and Saturday 16th March 2019, with attendance on at least one of these dates being mandatory, as per the Dress Rehearsal Testing Guide.

Please refer to the Guidance Note for specific detail on each change. All Participants are required to review the Guidance Note and ensure adherence to the timelines in Section 11 (page 17) for each of the upcoming mandatory changes.

In addition, Cboe's Brexit microsite resource should be checked regularly by Participants for upcoming updates regarding Brexit. All current and historical Cboe notices, including symbol universe updates, are available online.

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: Brexit Certification (UAT) Testing - Weekly Availability Schedule

February 05, 2019 16:38:35

Dear Cboe Europe Equities Participants

In preparation for Brexit, Cboe Europe (Cboe) will be fully configuring the BXE, CXE and APA Certification (UAT) environments as UK and EU venues on Wednesday and Thursday of each week going forward. This configuration will be reverted to a single UK venue in the Certification environments on Monday, Tuesday and Friday. This schedule will be extended in the coming weeks with such change being communicated through a follow up Trade Desk notice. Functionally this will result in the following behaviour:

Functionality

Wednesday & Thursday
(UAT BXE, CXE and APA - Separate UK and EU venues)

Monday, Tuesday and Friday
(UAT BXE, CXE and APA - Single UK venue)

Order and ETR entry

FIX and BOE session jurisdiction will be enforced.
Orders and ETRs will be rejected if the jurisdiction of the symbol differs from that of the FIX or BOE session.

FIX and BOE session jurisdiction will not be enforced.
Orders and ETRs for either jurisdiction can be entered via a UK or EU FIX or BOE session.

UK and EU Venue MICs in LastMkt and ExecVenue fields

UK venue MICs will be supplied in the LastMkt field in Execution messages and ExecVenue field on Multicast and TCP PITCH on London and Swiss symbols, whereas EU venue MICs will be supplied for all other symbols. See Section 4 of the Guidance note for more details.

Only UK venue MICs will be supplied in the LastMkt and ExecVenue field for all symbols.

Trading Venue flagging for trade reports (APA)

The regulatory jurisdiction (UK or EU) of the bank code used for trade reporting into the Cboe APA will be used to denote whether the trade report is targeting the UK or EU APA. The resulting Cboe APA will then be reflected on market data via the Cboe Trade Flags field. See Section 5 of the Guidance Note for more details.

Regardless of the jurisdiction configuration of the bank code used for trade reporting into the Cboe APA, the Cboe Trade Flags field will contain UK values.

Trading Venue flagging for trade reports (BXE/CXE)

The value published in the Cboe Trade Flags field will be dependent on the jurisdiction of the symbol. See Section 5 of the Guidance Note for more details.

All trade reports will be published with UK values in the Cboe Trade Flags field.

ODROP session filtering

ODROP session jurisdiction will be enforced. An ODROP will receive flow only for symbols in line with its jurisdiction (UK vs EU venue).

ODROP session jurisdiction will not be enforced. Flow for either jurisdiction will be received down an ODROP.

FIXDROP session filtering

FIXDROP session jurisdiction will be enforced. A FIXDROP will receive flow only for symbols in line with its jurisdiction (UK vs EU venue).

FIXDROP session jurisdiction will not be enforced. Flow for either jurisdiction will be received down a FIXDROP.

Participants who encounter erroneous behavior or rejections at trade submission on Wednesday and Thursday are encouraged to ensure their configuration is in line with our Brexit mode setup. For example, when submitting an order with correct symbol information as per the Reference Data files and the order is rejected with 'No symbology for Symbol' or similar, it is likely the connected session does not support the jurisdiction of the symbol. Symbols on the Cboe EU venue are not supported on Cboe UK Venue FIX, BOE, FIXDROPs and ODROPs session. The jurisdiction of a session can be identified through the Cboe Participant Portal's Logical Ports page and the jurisdiction of a symbol can be identified through the Certification Reference Data files

Participants without EU venue FIX, BOE or drop copy sessions should provide a completed Logical Port Order Form to the Trade Desk.

Please refer to the Guidance Note for specific detail on each change. All Participants are required to review the Guidance Note and ensure adherence to the timelines in Section 11 (page 17) for each of the upcoming mandatory changes.

In addition, Cboe's Brexit microsite resource should be checked regularly by Participants for upcoming updates regarding Brexit. All current and historical Cboe notices, including symbol universe updates, are available online.

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 >

REMINDER: Cboe Europe Equities: Brexit - Production Saturday Dress Rehearsal Tests - Q1 2019

February 05, 2019 11:39:18

Dear Cboe Europe Equities Participants

As previously communicated, Cboe Europe (Cboe) will hold three Brexit Saturday Dress Rehearsal dates occurring on Saturday 16th February, Saturday 2nd March and Saturday 16th March 2019, the Dress Rehearsal Testing Guide for these days is now available.

Furthermore, please note that the trading schedule for these Dress Rehearsal days has now been added to the Testing Guide:

Expected Schedule on the day:

Time (UK time)

Activity

06:30

Logical ports available for connectivity

07:00

NOC & Trade Desk available

07:15

Off-Exchange APA and SI platforms open for trade reports and quotes

07:50

On-Exchange BXE and CXE platforms open for auction orders and trades

08:00

Start of trading, simulated load commences

13:00

End of trading - End of Dress Rehearsal

Please also note that Participants should ensure that any software they intend to connect to the EU venue has previously been certified. Participants can perform a self-certification and provide sign-off indicating such by sending an email into [email protected].

All Participants are required to review the Guidance Note and ensure adherence to the timelines in Section 11 (page 17) for each of the upcoming mandatory changes.

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 >

UPDATE: Cboe Europe Equities: Brexit Mandatory Technical Changes - Upcoming TCP PITCH Changes effective, Fri 15th Feb 2019

January 21, 2019 09:07:42

Dear Cboe Europe Participants,

Cboe Europe would like to highlight upcoming mandatory changes to Participants who use TCP PITCH market data. The release into the CXE Certification environment has been brought forward to become effective Monday, 11th February 2019.

Effective Friday, 15th February 2019 all existing TCP PITCH message types will cease to be published and will be replaced with new message types containing a microsecond timestamp as described below. The increased size of the timestamp field will result in the field offsets in the new message types' timestamp increasing by three bytes. These changes impact to the BXE, CXE and TRF environments.

New Data Type:

Data Type

Length

Description

TimestampUs

11

A string of ASCII numbers (0-9) representing the whole number of microseconds past midnight London time, right justified and zero padded on the left, with no decimal point.

This will replace the existing 8-byte Timestamp field on all messages.

New Message Types:

Message Name

Existing Message Type

New Message Type

Symbol Clear

s

h

Add Order

A

K

Add Order - Long

c

M

Order Executed

E

N

Order Executed - Long

e

g

Order Cancel

X

F

Order Cancel - Long

x

G

Trade

P

V

Trade - Long

q

W

Trade - Extended

O

v

Trade - Unknown Symbol

k

w

Trading Status

H

a

Statistics

Z

Y

Auction Update

I

b

Auction Summary

j

f

Certification (UAT) Testing:
The new format messages are currently being published in UAT in the BXE and TRF environments. The changes in the CXE UAT environment will become effective Monday, 11th February 2019.

Details of the changes are described in the existing Cboe Europe TCP PITCH Specification. In addition, a new version of the specification is available here with all the new message types and field offsets which have all increased by three bytes to accommodate the increased size of the timestamp field.

Please refer to the Guidance Note for specific detail on each change. All Participants are required to review the Guidance Note and ensure adherence to the timelines in Section 11 (page 17) for each of the upcoming mandatory changes.

In addition, Cboe's Brexit microsite resource should be checked regularly by Participants for upcoming updates regarding Brexit. All current and historical Cboe notices, including symbol universe updates, are available online.

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: Brexit - Production Saturday Dress Rehearsals - Testing Guide Now Available

January 18, 2019 15:29:43

Dear Cboe Europe Equities Participants

Further to the previous Exchange Notice announcing that Cboe will hold three Brexit Saturday Dress Rehearsal dates occurring on Saturday 16th February, Saturday 2nd March and Saturday 16th March 2019, the Dress Rehearsal Testing Guide for these days is now available. This document contains the full detail of activities and requirements for these Production Saturday Dress Rehearsals.

**NB: Participants who intend to connect to the EU Venue must complete and submit any outstanding paperwork as soon as possible. For further information please refer to our Brexit Microsite.

Please refer to the Guidance Note for specific detail on each change. All Participants are required to review the Guidance Note and ensure adherence to the timelines in Section 11 (page 17) for each of the upcoming mandatory changes.

In addition, Cboe's Brexit microsite resource should be checked regularly by Participants for upcoming updates regarding Brexit. All current and historical Cboe notices, including symbol universe updates, are available online.

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: Brexit - Production Saturday Dress Rehearsal Tests - Q1 2019

January 14, 2019 18:36:20

Dear Cboe Europe Equities Participants

Brexit: Production Saturday Dress Rehearsal Tests - 16th February, 2nd March & 16th March 2019

Further to the previous Exchange Notice and Guidance Note regarding Mandatory Technical changes relating to Brexit dated Friday 2nd November 2018, Cboe Europe (Cboe) is planning Brexit Production Dress Rehearsal test dates, which will allow participants and vendors to simulate Brexit-like system behaviour in Production in advance of Monday 1st April 2019. In order to align with other pan-European venues, Cboe will hold three Brexit Saturday test dates occurring on Saturday 16th February, Saturday 2nd March and Saturday 16th March 2019, with attendance on at least one date being mandatory. The scope of these tests will include the Production BXE, CXE, CboeLIS, TRF (APA) and SIS environments.

Participants should note the following:

* Change Freeze - Participants wishing to take part in any of the test Saturdays must submit any outstanding requests for new ports by 16:00 UK time of the Thursday prior. No new port requests will be processed on the Friday before any Saturday test.
* Production Data - Please ensure that your Production systems are configured not to send Production trade reports when Cboe systems come up on the Saturday test dates, as all data from these days will be discarded as test data. Cancellation or Amendment of Trade Reports will not be allowed on these test dates.
* Mandatory participation - Attendance on at least one of the published test Saturdays is mandatory. Only Participants and Vendors planning on connecting to the new EU venue are required to attend. Trading Participants and Vendors will be required to establish logical connectivity to at least 1 EU FIX, BOE, FIXDROP, ODROP, GRP or SPIN session, and submit an order or trade report using either real or test EU symbols. Market data vendors and ISVs will be required to establish logical connectivity to at least 1 EU FIXDROP, ODROP, GRP or SPIN session, and confirm success or failure back to [email protected]
* Brexit Saturday Dress Rehearsal - Test Schedule of Activities - To be confirmed in due course

Key contacts on the day

* The standard Cboe support contacts will be available on the day from 07:00 until 13:00 UK time:

o NOC: [email protected] +44 20 7012 8905

o Trade Desk: [email protected] +44 20 7012 8901

Documentation

* Brexit Guidance Note

Certification (UAT) Testing

* In preparation for these Brexit Production Dress Rehearsals, the UAT environment is already available for testing some Brexit functionality - please review the Brexit Guidance Note for specific detail. All Brexit functionality will be rolled out in UAT well in advance of the first dress rehearsal - the date for this will be confirmed in due course.

**NB: Participants who intend to connect to the EU Venue must complete and submit any outstanding paperwork as soon as possible. For further information please refer to our Brexit Microsite.

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

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

Trade Desk
Cboe Europe Equities
11 Monument Street | London, EC3R 8AF
T: +44 207 012 8901
E: [email protected] | cboe.com >

Cboe Europe Equities: Brexit - Production Saturday Dress Rehearsal Tests - Q1 2019

January 14, 2019 13:06:18

Dear Cboe Europe Equities Participants

Brexit: Production Saturday Dress Rehearsal Tests - 16th February, 2nd March & 16th March 2019

Further to the previous Exchange Notice and Guidance Note regarding Mandatory Technical changes relating to Brexit dated Friday 2nd November 2018, Cboe Europe (Cboe) is planning Brexit Production Dress Rehearsal test dates, which will allow participants and vendors to simulate Brexit-like system behaviour in Production in advance of Monday 1st April 2019. In order to align with other pan-European venues, Cboe will hold three Brexit Saturday test dates occurring on Saturday 16th February, Saturday 2nd March and Saturday 16th March 2019, with attendance on at least one date being mandatory. The scope of these tests will include the Production BXE, CXE, CboeLIS, TRF (APA) and SIS environments.

Participants should note the following:

* Change Freeze - Participants wishing to take part in any of the test Saturdays must submit any outstanding requests for new ports by 16:00 UK time of the Thursday prior. No new port requests will be processed on the Friday before any Saturday test.
* Production Data - Please ensure that your Production systems are configured not to send Production trade reports when Cboe systems come up on the Saturday test dates, as all data from these days will be discarded as test data. Cancellation or Amendment of Trade Reports will not be allowed on these test dates.
* Mandatory participation - Attendance on at least one of the published test Saturdays is mandatory. Only Participants and Vendors planning on connecting to the new EU venue are required to attend. Trading Participants and Vendors will be required to establish logical connectivity to at least 1 EU FIX, BOE, FIXDROP, ODROP, GRP or SPIN session, and submit an order or trade report using either real or test EU symbols. Market data vendors and ISVs will be required to establish logical connectivity to at least 1 EU FIXDROP, ODROP, GRP or SPIN session, and confirm success or failure back to [email protected]
* Brexit Saturday Dress Rehearsal - Test Schedule of Activities - To be confirmed in due course

Key contacts on the day

* The standard Cboe support contacts will be available on the day from 07:00 until 13:00 UK time:

o NOC: [email protected] +44 20 7012 8905

o Trade Desk: [email protected] +44 20 7012 8901

Documentation

* Brexit Guidance Note

Certification (UAT) Testing

* In preparation for these Brexit Production Dress Rehearsals, the UAT environment is already available for testing some Brexit functionality - please review the Brexit Guidance Note for specific detail. All Brexit functionality will be rolled out in UAT well in advance of the first dress rehearsal - the date for this will be confirmed in due course.

**NB: Participants who intend to connect to the EU Venue must complete and submit any outstanding paperwork as soon as possible. For further information please refer to our Brexit Microsite.

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

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

Trade Desk
Cboe Europe Equities
11 Monument Street | London, EC3R 8AF
T: +44 207 012 8901
E: [email protected] | cboe.com >

Cboe Europe Equities: Brexit Mandatory Technical Changes - Upcoming TCP PITCH Changes effective, Fri 15th Feb 2019

January 10, 2019 12:13:01

Dear Cboe Europe Participants,

Cboe Europe would like to highlight upcoming mandatory changes to Participants who use TCP PITCH market data.

Effective Friday, 15th February 2019 all existing TCP PITCH message types will cease to be published and will be replaced with new message types containing a microsecond timestamp as described below. The increased size of the timestamp field will result in the field offsets in the new message types' timestamp increasing by three bytes. These changes impact to the BXE, CXE and TRF environments.

New Data Type:

Data Type

Length

Description

TimestampUs

11

A string of ASCII numbers (0-9) representing the whole number of microseconds past midnight London time, right justified and zero padded on the left, with no decimal point.

This will replace the existing 8-byte Timestamp field on all messages.

New Message Types:

Message Name

Existing Message Type

New Message Type

Symbol Clear

s

h

Add Order

A

K

Add Order - Long

c

M

Order Executed

E

N

Order Executed - Long

e

g

Order Cancel

X

F

Order Cancel - Long

x

G

Trade

P

V

Trade - Long

q

W

Trade - Extended

O

v

Trade - Unknown Symbol

k

w

Trading Status

H

a

Statistics

Z

Y

Auction Update

I

b

Auction Summary

j

f

Certification (UAT) Testing:
The new format messages are currently being published in UAT in the BXE and TRF environments. The changes in the CXE UAT environment will become effective Friday, 15th February 2019.

Details of the changes are described in the existing Cboe Europe TCP PITCH Specification. In addition, a new version of the specification is available here with all the new message types and field offsets which have all increased by three bytes to accommodate the increased size of the timestamp field.

Please refer to the Guidance Note for specific detail on each change. All Participants are required to review the Guidance Note and ensure adherence to the timelines in Section 10 (page 18) for each of the upcoming mandatory changes.

In addition, Cboe's Brexit microsite resource should be checked regularly by Participants for upcoming updates regarding Brexit. All current and historical Cboe notices, including symbol universe updates, are available online.

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 >

REMINDER: Cboe Europe Equities: Brexit Mandatory Technical Changes - Guidance Note Now Available

January 07, 2019 08:54:30

Dear Cboe Europe Participants,

Cboe Europe would like to highlight the following technical changes coming to the Cboe Europe Equities platforms, in preparation for the UK's impending withdrawal from the European Union (EU) in March 2019.

The Cboe Europe Equities Brexit Technical Guidance Note is now available and details the technical interface changes required for all Cboe Europe Equities interfaces, which are summarised below:

* Order Entry, Trade Entry & DROP Interfaces (all going live on Brexit date):

o EU Venue MIC Codes: From 1st April 2019, new segments MICs for the EU venue will be supplied in the LastMkt (FIX tag 30) field in the Execution Report, Trade Cancel/Correct, Trade Capture Report messages on FIX, BOE ODROP & FIXDROP interfaces in BXE, CXE and Cboe LIS environments.

o Trade Reporting to the UK and EU APA: From 1st April 2019, the regulatory jurisdiction (UK or EU) of the bank code used for trade reporting into the Cboe APA will be used to denote whether the trade report is targeting the UK or EU APA. Depending on the post Brexit plans of each firm using the APA, firms may need to request new EU and/or UK bank codes and then populate the relevant bank code in the PartyID (FIX tag 448) field of the Trade Capture Report message on FIX and BOE interfaces. The resulting Cboe APA will then be reflected on market data via the Cboe Trade Flags field. Cboe will be reaching out to firms using it's APA to understand each firm's plans, in order for the correct regulatory jurisdiction to be applied to each bank code referenced above.

o UK and EU ODROP and FIXDROP Sessions: As part of the Brexit Migration process, Participants will be allocated new ports to interface with the EU venue. All existing ports will remain allocated to the UK venue. It should be noted that effective immediately ODROP sessions will be configured to monitor ports and only replicate flow that will be part of the same jurisdiction (EU or UK venue) from 1st April 2019. FIXDROP ports will also only provide flow relating to their respective venue from 1st April 2019, but will provide trades on all symbols prior to that point. Participants should therefore cater for receiving trades for all symbols down both their existing and future EU venue FIXDROP port until 1st April 2019. From 1st April 2019 the FIXDROP ports will only provide trades for symbols on their respective venues.

* Market Data Interfaces:

o Changes going live before Brexit date:

* Redistribution of Symbols between Matching Units: Symbols are distributed across Matching Units by a market and alphabetical symbol distribution. From 15th February 2019, in preparation for the creation of separate UK and EU venues, some markets will be migrated to a different Matching Unit in the BXE, CXE, SIS and APA environments. This will result in changes in the subscription details for receiving Multicast PITCH market data for these markets. In addition, on the effective date the matching_unit column in the symbol reference data files will be updated to reflect the new unit to which symbols from these markets will be allocated.

* Trading Venue Segregation for Multicast PITCH: From 15th February 2019, for the BXE and CXE environments, new UK and EU venue Multicast PITCH feed infrastructure will be established to which participants will need to migrate to, which will run alongside the existing legacy feeds. From this point onwards, Participants are urged to begin migrating over to the new feeds. On 27th September 2019 the legacy Multicast PITCH feeds will no longer be available. These changes will impact all current consumers of BXE and CXE Multicast PITCH, and Participants will be required to subscribe to a new set of multicast feeds as well as connect to new GRP and SPIN ports.

* Multicast PITCH Transaction Markers: From 15th February 2019, Market Data Transaction Markers will be added to Multicast PITCH in BXE and CXE. This functionality adds a Transaction Begin message to the protocol to indicate that any subsequent messages up to the accompanying Transaction End message, are all part of the same transaction block.

* Microseconds on TCP PITCH: All messages currently sent on TCP PITCH contain a Timestamp field representing the number of milliseconds since midnight. From 15th February 2019, these messages will be updated to begin sending the number of microseconds since midnight. In order to facilitate the structural change, all existing messages will be replaced with new message types. The existing messages will cease to be sent from go-live.

o Changes going live on Brexit date:

* EU Venue MIC Codes: From 1st April 2019, new MICs for the EU venue will be published in the Execution Venue field of the Trade Message - Extended Form message type on Multicast and TCP PITCH feeds in BXE and CXE environments.

* Trade Reporting to the UK and EU APAs: From 1st April 2019, the existing Cboe Trade Timing Indicator field has been renamed to the Cboe Trade Flags field and it will now also convey the Cboe Regulated Entity (UK or EU) to which a trade report was submitted. This change will apply to the Trade Message - Extended Form and Trade Message - Unknown Symbol message types on Multicast and TCP PITCH feeds in the BXE, CXE and APA (TRF) environments.

* Transaction Reporting Obligations:

o Depending on a third country Trading Participant's unique situation related to Brexit, there may be additional Venue Transaction Reporting Obligations to consider. Trading venues under MiFID have an existing obligation to transaction report to their NCA on behalf of non-EU Trading Participants. On the assumption that the UK will have a similar requirement on non-UK based firms post-Brexit, Cboe will require entities not based in the UK jurisdiction to submit additional information in order for Cboe to meet its Transaction Reporting obligation derived from Participant trading activity. Similarly, UK firms trading on the EU venue will be considered non-EU and will also be required to Transaction Report.

Please note that the functionality going live on Brexit date (1st April 2019) is subject to:

* The relevant regulatory authorisation being granted to Cboe EU to provide its services; and

* Cboe EU confirming that it will launch the operations.

All other functionality will go live on the dates stated above.

Please refer to the Guidance Note for specific detail on each change. All Participants are required to review the Guidance Note and ensure adherence to the timelines in Section 10 (page 18) for each of the upcoming mandatory changes.

In addition, Cboe's Brexit microsite resource should be checked regularly by Participants for upcoming updates regarding Brexit. All current and historical Cboe notices, including symbol universe updates, are available online.

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 >