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Last updated 17:46:25
  • BATS Chi-X Europe Integration: Update
  • February 03, 2012 15:35:48 London Time

  • Dear Participants,

    This is the next in a series of communications highlighting key integration dates and materials surrounding the upcoming platform migration of the Chi-X Europe order books onto BATS Europe technology.

    Key Updates:

    * New Chi-X Europe PRODUCTION environment availability: The new Chi-X Europe PRODUCTION environment will be available Monday 20th February 2012. This is one week earlier than the previously published date and participants can submit port requests for this environment from that date.

    * Network Connectivity: Post migration, both the BATS Europe order book and the Chi-X Europe order book will be accessible to participants via a single network interface. All Participants are strongly encouraged to confirm their migration plans with BATS Chi-X Europe to ensure all work is completed in a timely manner.

    * Disaster Recovery: The Disaster Recovery Guide detailing how the disaster recovery site at Equinix Park Royal (LD3) will function is now available. Each dress rehearsal will include a test of failover invocation to the disaster recovery site.

    * Market data over the Internet: Chi-X Europe currently offers market data over the internet, this will continue post migration. Market data for both the BATS Europe order book and the Chi-X Europe order book will be offered via BATS TCP PITCH protocol over the internet. Please contact your Account Manager for details.

    * Post-Trade: Updated information regarding Clearing and Post-Trade is now available on the Post-Trade Integration webpage

    * URLs migration Guide: Updated information regarding upcoming changes for web-based services provided by BATS Chi-X Europe including changes to reference data URLs is now available in the BATS Chi-X Europe Web Migration Guide

    * Testing Guide: The detailed timeline of scheduled activities on the Production Dress Rehearsal days is now available in the updated Testing Guide

    * Certification Requirements: Participants are advised to please confirm their certification requirements as detailed in the table below, and to contact the BATS Europe Trade Desk to progress any testing on the new platform:

    Membership Status

    Trading Protocol choice

    Mandatory Certification test?

    Existing BATS Europe Member

    Native BATS Europe FIX mode

    No

    Existing BATS Europe Member

    BATS Binary Order Entry (BOE)

    No

    Existing BATS Europe Member

    Dropcopy feed

    No

    Chi-X Europe Member only or
    new BATS Europe Member

    Any

    Yes

    Any

    Chi-X FIX compatibility mode

    Yes

    o For all application ports requests and certification queries, please contact the BATS Europe Trade Desk

    Contacts
    Connectivity: NOCEurope@batstrading.com +44.207.012.8905
    Application or Trading Queries: TradeDeskEurope@batstrading.com +44.207.012.8901

    Please continue to contact the Chi-X Europe Operations team with any technical questions regarding daily service and support on the existing Chi-X Europe trading platform.

    The latest migration information and documents are available at www.batstrading.co.uk/integration, which will be updated regularly throughout the transition.

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

    Trade Desk, BATS Europe
    BATS Chi-X Europe ... Making Markets Better
    P: +44.207.012.8901
    E: TradeDeskEU@batstrading.com
    www.batstrading.co.uk

  • BATS Europe matching unit distribution change for Austrian instruments
  • January 24, 2012 13:56:58 London Time

  • Dear BATS Europe Participants

    BATS Europe periodically reviews the unit distribution of tradable markets to ensure BATS Europe market data is spread evenly.
    To this end and as part of the planned Chi-X Europe migration announced recently, BATS Europe will migrate all Austrian instruments from Unit 12 onto Unit 8. This change will be effective in BATS Europe Production from Monday 27th February 2012.

    Specifically, this will impact Participants who:

    o receive Primary and Secondary Multicast Gig and WAN-shaped Production feeds

    o receive on-demand (unitised) TCP PITCH feeds. Austrian (WBAH) market data will be moved to the current Xetra (XETR) feed.

    o use BATS Binary Order Entry (BOE). Austrian BOE messages will be created from matching unit 8.

    There is no impact to Participants currently receiving the BATS Europe TCP PITCH market data feed.

    For information on this new distribution please refer to the BATS Europe Multicast PITCH Specification.

    This change will be available in the BATS Europe Certification environment effective Monday 6th February, 2012.

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

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

  • BATS Chi-X Europe Integration: Technical Update
  • January 23, 2012 11:50:57 London Time

  • Dear Participants,

    Effective today, the new Chi-X Europe Certification (UAT) environment is now available for test access.

    Next Steps:

    * Please check whether your firm is required to certify based upon membership status as detailed in the table below:

    Membership Status

    Trading Protocol choice

    Mandatory Certification test?

    Existing BATS Europe Member

    Native BATS Europe FIX mode

    No

    Existing BATS Europe Member

    BATS Binary Order Entry (BOE)

    No

    Existing BATS Europe Member

    Dropcopy feed

    No

    Chi-X Europe Member only or
    new BATS Europe Member

    Any

    Yes

    Any

    Chi-X FIX compatibility mode

    Yes

    * To request ports, please contact the BATS Europe Trade Desk

    * If you need to pass the certification test, please contact the BATS Europe Trade Desk to schedule in a testing timeslot. Certification (Conformance) Test scripts are available upon request from the BATS Europe Trade Desk

    * Summary of Technical specs:

    o FIX Migration Guide

    o Native BATS Europe FIX mode

    o Chi-X Europe FIX Compatibility Mode

    o BATS Europe Binary Order Entry (BOE)

    o Market Data Migration Guide

    o BATS Europe Multicast PITCH

    o BATS Europe TCP PITCH

    o Standard FIX Dropcopy and FIX Order By Order dropcopy

    o Testing Guide

    * Participants can request ports in the new Chi-X Europe Production environment as of 27th February 2012.

    * Production Dress Rehearsal 1 occurs on Saturday 24th March 2012.

    * Production Dress Rehearsal 2 occurs on Saturday 21st April 2012.

    * Go-live: Monday 30th April 2012

    Technical Integration webpage: www.batstrading.co.uk/integration/technical/

    * Technical Contacts for the migration

    Connectivity: NOCeurope@batstrading.com+44.207.012.8905
    Application or Trading Queries: TradeDeskEurope@batstrading.com +44.207.012.8901

    Please continue to contact the Chi-X Europe Operations team with any technical questions regarding daily service and support on the existing Chi-X Europe trading platform.

    The latest migration information and documents are available at www.batstrading.co.uk/integration, which will be updated regularly throughout the transition.

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

  • UPDATE: Full Four way Clearing Interoperability including EMCF goes live on BATS Europe effective 6th January 2012
  • January 04, 2012 09:01:02 London Time

  • Dear Participants

    BATS Chi-X Europe is pleased to confirm that fully Interoperable Clearing including EMCF has now received all necessary regulatory approvals. As such, the service will go live on the BATS Europe market this Friday 6th January 2012.

    Market Scope
    * Four way Interoperable Clearing will be available for all markets traded on BATS Europe excluding Spain which will continue to be cleared at EMCF until further notice.

    * Due to the on-going regulatory review of Exchange Traded Products (ETFs / ETCs) within clearing, BATS Europe has taken the decision to exclude all ETFs and ETCs from the scope of interoperability until the conclusion of these reviews. BATS Europe continues to trade ETF / ETC securities, however all executions will be routed to the existing Central Counterparty (CCP), EMCF, irrespective of the Participant's choice of CCP for the underlying market segment. Please note: ETF / ETCs are traded in various market segments and are not in a segregated segment.

    Summary of Service
    With four way Clearing Interoperability, Participants are able to choose to have one or more Central Counterparties (CCPs) clearing their business on the BATS Europe market. Participants are able to choose to use EMCF, EuroCCP, LCH.Clearnet and SIX x-Clear on a market by market basis. BATS Europe will enable clearing for Participants once required documentation is in place with the respective CCP(s). Participants will no longer be required to maintain a clearing relationship with EMCF for markets where they have chosen an alternative CCP.

    How to setup a new CCP relationship
    Trading Participants must have a clearing relationship with their chosen CCP(s), either as a Direct Clearing Participant (DCP) or through a General Clearing Participant (GCP).

    * Trading Participants using a GCP should contact them to ensure the relevant CCP documentation is in place.

    * DCPs should contact their CCP(s) to ensure the relevant documentation is in place.

    Contact details for the four CCPs are listed below:
    EMCF
    EMCF Membership Team
    erik.westerling@emcf.com

    EuroCCP
    Account Administration euroccpaa@dtcc.com

    LCH.Clearnet
    LCH.Clearnet Membership Team
    membershipofficers@lchclearnet.com

    SIX x-clear
    Customer Integration
    customer.integration@sisclear.com

    Technical detail
    * As an optional feature, BATS Europe can indicate in FIX tag 7772 or in a BOE field of the execution report which CCP has the trade. This tag is already available as an optional field on the FIX port, as indicated in the BATS Europe FIX spec. Participants requiring this should contact the BATS Europe Trade Desk to test.

    Certification Testing
    Four way Clearing Interoperability is already available for testing in the BATS Europe Certification environment.

    Any Participants wishing to conduct end to end testing should contact the BATS Europe Trade Desk.

    Trade Desk, BATS Chi-X Europe
    BATS ... Making Markets Better
    P: +44.207.012.8901
    E: TradeDeskEU@batstrading.com
    www.batstrading.co.uk

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© 2012 BATS Global Markets, Inc. - All Rights Reserved

BATS Trading Limited is authorised and regulated by the Financial Services Authority. BATS Trading Limited is an indirect wholly-owned subsidiary of BATS Global Markets, Inc. and is a company registered in England and Wales with Company Number 6547680 and registered office at 10 Lower Thames Street, London EC3R 6AF. Chi-X Europe Limited is authorised and regulated by the Financial Services Authority. Chi-X Europe Limited is a wholly-owned subsidiary of BATS Trading Limited and is a company registered in England and Wales with Company Number 01651728 and registered office at 10 Lower Thames Street, London EC3R 6AF. This Website has been established for information purposes only. None of the information concerning the services or products described on this Website constitutes advice or a recommendation of any product or service. To the extent that the information provided on this Website constitutes a financial promotion as defined by section 21 of the Financial Services and Markets Act 2000, it is only directed at persons who qualify as a Professional Client or Eligible Counterparty. Persons who do not qualify should not act on or rely upon it.