IT Documentation by type

This document describes the features and services, known limitations, as well as changes brought by the Optiq release. The content of the document is closely related to the “Euronext Derivatives – How the Market Works” document, which describes how Euronext Derivatives Markets are operated on Optiq.

This document outlines the migration guidelines for Phase 3 of Euronext’s implementation of Optiq: Order Entry Gateway (OEG) and Matching Engine (ME) for Euronext Derivatives markets, as well as the changes required to the Market Data Gateway (MDG) on Euronext Derivatives markets.

Euronext will execute an Optiq® overnight instruments migration among partitions on the Cash Market Equities segment. Several Cash Equities instruments will be moved from one partition to another one

Euronext informs clients that the SBE templates for OEG and MDG(order entry and market data) will be updated on version 116 in EUA Next Environment (pEUA) on 19 June 2019 for the Fixed Income segments and on 21 June 2019 for the remaining segments.
Additionally, A dress rehearsal is planned to take place on Saturday 20 July 2019

Euronext will execute an Optiq® overnight instruments migration among partitions on the Cash Market Equities segment. Several Cash Equities instruments will be moved from one partition to another one. This change will be effective in production as of Monday 08 July 2019. Clients are requested to read carefully the present notice to assess their readiness for this change and in case of any doubt they are strongly encouraged to contact OCS before Tuesday 18 June 2019 in order to get assistance.

This document provides you the exhaustive list of changes introduced by the implementation of the SBE Template 116 (versus SBE template version 109) on OEG and MDG messages, fields and values as well as the standing data files.

The purpose of this document is to detail Kinematics for Optiq Order Entry Gateway and Market Data Gateway messages.

Optiq Phase 3 Tick Size Summary

Optiq Phase 3 Trading Schedule Summary

Euronext informs its customers that the SBE templates used for order entry and market data on all Euronext Cash Market Segments will be upgraded to version 109. Only Euronext Block Segment will remain on version 110.

The purpose of this document is to provide description of main functionalities and services offered by Optiq for Euronext Derivatives markets. This document strives to provide for each identified functionality or service the following elements:

1) Why it is present in our Market

2) Description of the service and its principles

3) Examples, where possible, of its use

4) Advantages & benefits of the services as well as recommendation of use

The aim of the document is to provide a practical overview of functionalities and approaches to Derivatives trading in Optiq. At the end of the document technical and architectural topics are also covered to provide a general overview. This document is the view of the expected implementation of Optiq for Derivatives markets. This document will be updated with further information providing additional details1 . In case of any functional changes they will be highlighted and communicated to clients in due course. A number of functionalities described in this document are subject to regulatory approval, and confirmation of implementation will be provided in due time.

This document provides an overview of the exchange of messages between the Optiq Order Entry Gateway (OEG), the clients’ systems and the Market Data Gateway (MDG). It includes:

■ Typical trading scenarios and the corresponding public and private messages for these scenarios, and the different cases they may cover;

■ The names and IDs of the messages sent;

■ The events that trigger the transmission of messages.

This overview is meant to provide a description of the main structures and concepts used within this document, to facilitate the review of the individual topics and cases covered within.

The messages that are sent between trading members and Optiq are referred to as private messages whereas the messages that are sent by the external broadcasting systems are referred to as public messages.

Private messages are exchanged exclusively between the clients’ system and the Optiq matching engine via order entry gateways, for example to request information from the system or to issue a command (e.g., enter an order). Private messages are also sent back by Optiq via order entry gateways (OEGs) to the client’s system to provide the information requested, or confirm that a command has been successfully executed (or not), as well as to notify of trades, etc.

Public messages are sent by Optiq via MDG to provide to all subscribing clients with anonymized Market data, such as orders entered, best limits, trades executed, market events, updated limits, etc.

The diagrams in this document express representative examples of message sequences and other scenarios can be figured out from the ones described inside that document. The details of the message contents may vary depending on the example.

The diagrams also endeavour to represent as close to reality as possible the sequence in which events and steps occur, and messages are sent. This introduction provides indication when such cases are not feasible to represent faithfully due to complexity of graphical representation.

For a complete description of the messages and their fields, please refer to the associated document:

■ Optiq Order Entry Gateway Messages Specifications SBE;

■ Optiq Order Entry Gateway Messages Specifications FIX;

■ Optiq Market Data Gateway Messages Specifications.

This document sets out the client messages specifications for Optiq OEG using the FIX 5.0 format. More specifically, it describes the contents of administrative and application messages and provides detailed field descriptions.

Note: Algomi is not in scope of this document.

This document sets out the client messages specifications for TCS Optiq OEG using the SBE and FIX formats.

This document sets out the client messages specifications for Optiq® OEG using the SBE format. More specifically, it describes the contents of administrative and application messages and provides detailed field descriptions.

This document provides the list of errors that can be issued by the Optiq® Matching Engine upon reception of incoming private messages, occurrence of client or exchange business continuity conditions and also the errors that are issued by the Trade Reporting & Publication services.

This document sets out the client messages specifications for Optiq OEG using the SBE format. More specifically, it describes the contents of administrative and application messages and provides detailed field descriptions.

This document sets out the client connectivity configuration specifications for Optiq® Order Entry Gateways (OEG). It describes the sources of data for connectivity, manner in which clients should attempt to connect to the OEGs.

OEG SBE Template version 200 for Optiq Derivatives phase 3.

This document sets out the client messages specifications for Optiq OEG using the FIX 5.0 format. More specifically, it describes the contents of administrative and application messages and provides detailed field descriptions.

This document provides the details that will allow customers to perform the mandatory connectivity telnet tests to Optiq Order Entry Gateway (OEG) in the various environments.

This document intends to provide general technical information about Euronext Markets – Optiq® SBE Template Policy for the Migration of Derivatives Markets

Optiq Phase 3 Derivatives Spread Classes

The purpose of this document is to provide customers with a description of the Optiq order entry conformance script, with scenarios for connectivity, functional data conformance and high availability tests for the Phase 2 of the migration to Optiq covering the Euronext Cash markets. Please note that the DR(disaster recovery) testing will be detailed in a future version. 

Drop Copy is a service, providing near real-time copies of trade reports & order messages, usually used by for risk management, back-offices and compliance teams

Clients require a dedicated connection to receive Drop Copy messages, which can be setup with configuration that fits their needs.

The scope of data in Drop Copy could provide client messages for various (or all of their) Logical Accesses, for one, or across different Optiq Segments.

This version of the document covers activity on the Cash market only, that are in scope of Phase 2 of the migration to Optiq.

Euronext is introducing new Large-in-Scale (LiS) features on the Central Order Book. The service will create more opportunities to execute LIS orders, leveraging existing liquidity in the central order book. As soon as market participants implement the necessary modifications required to use the model, including conformance tests, they will immediately be able to benefit from the existing invisible liquidity. The new service is now available for testing on the External User Acceptance (P-EUA) test platform. The launch in Production is planned for the first quarter of 2019.

This document sets out the client connectivity configuration specifications for Optiq® Order Entry Gateways (OEG). It describes the sources of data for connectivity, manner in which clients should attempt to connect to the OEGs. This document is a supporting document to the interface technical specifications

The Euronext Optiq Market Data Gateway (MDG) provides high-speed, real-time market data for Euronext markets.

The data feed has the following high-level features:

■ Multicast technology

■ Ultra-low latency

■ MiFID II compliance

■ Cash & Derivatives message harmonization

■ Optimized feed for each type of connectivity

■ High availability

■ Reliable network solution

■ High level of scalability

■ Access to a wide range of European market data sets

This document provides detailed information about the features of the feed to support the development of client applications.

The purpose of this document is to describe all the specifications of Optiq® Market Data Gateway.

This Dress Rehearsal will allow customers to test the target Production implementation of the Derivatives Market Data segmentation ahead of the implementation on Monday 29 April 2019, subject to final approval.

The Optiq Programme will replace the current Euronext core trading applications (UTP/CCG/XDP) for the Cash (Regulated Market and Warrants) and Derivative markets. Following customer feedback, the migration to Optiq will start with the Market Data module for Cash and
Derivatives. As such, the new Optiq MDG will be connected to the Euronext Cash and Derivatives UTP matching engines in phase 1, and then to the Optiq matching engines for Cash (phase 2) and then Derivatives (phase 3)

This document provides the summary of changes for the MDG Derivatives segment change, and the associated technical details. This change is being done as a preparatory step for migration of the Derivatives markets to Optiq.

Following this change Euronext Derivatives markets segments will be split as below:

■ Equity Derivatives (EQD)

■ Index Derivatives (IDD)

■ Commodity Derivatives (COM)

■ Financial Derivatives (FID)

This change in advance of Phase 3 implementation willsimplify migration of the Derivatives markets to Optiq. While no major impact is expected, customers are recommended to ensure that no adjustment is required to the list of Services and Channels they subscribe to via SFTI. For more information, please contact your Relationship Manager. SFTI packages, bandwidth and form are not impacted by this change. This change will be transparent for the CCG, Drop copy & clearing, and will not result in any cancellation of overnight orders. This summary outlines impacts for clients consuming MDG for Derivatives markets. For full details of impacts please review the updated MDG documentation.

This document provides all multicast addresses required to access the Euronext Optiq® Market Data Gateway External User Acceptance (EUA).

The purpose of this document is to describe all the specifications of Optiq™ Market Data Gateway.

This document provides all multicast addresses required to access the Euronext Optiq® Market Data Gateway Production and Disaster Recovery (DR).

This document details the Referential Data HTTPS Server for Euronext, to be used in conjunction with the Optiq MDG Client Specifications.

The Servers provide full referential data for the Euronext markets, as well as feed configurations and intraday trades with their MiFID II flags. Users of the Euronext market data feed should use the Servers to:

- Configure feed connections every day.

- Support the referential data that is disseminated on the feed.

- Complete their list of trades.

The purpose of this document is to describe all the file specifications on Optiq®.

MDG SBE Template version 200 for Optiq Derivatives phase 3.

This document must be read by Euronext’s clients developing tools for retrieving and processing Market Data files.

This document sets out the file format specifications for Total Return Futures Conversion Parameters files and provides detailed field descriptions.

This document sets out the message specifications for the Common Customer Gateway for Derivative markets (CCG-D) using the FIX 5.0 SP2 format. More specifically, it describes the structures of the technical, administrative and application messages for the CCG Euronext RiskGuard (ERG) Functionality. The description of the CCG Derivatives protocol herein addresses all Euronext derivative-related trading engines.