GE DBoerse plans to introduce T7 Release 13.0 on Nov. 18, 2024 for trading venues Xetra and Borse Frankfurt, with simulation period planned to start on Sep. 9, 2024.
The circular provides all T7 trading participants with the T7 Release 13.0 timeline, as well as the planned scope of the changes, along with the communication schedule.
The enhancements introduced in T7 Release 13.0 are Xetra Midpoint, MiFID II/MiFIR order flagging requirements as well as various Enhancements of the Short Code (SC) and Algo ID solution, in addition to updated ISV and Software Registration process.
Eurex has provided more information on T7 Release 13.0 on its dedicated initiative page on Eurex website under link: Support > Initiatives & Releases > T7 Release 13.0.
In addition to T7 Release simulation, trading participants can also use the T7 Cloud Simulation to allow them and ISVs to test the T7 production and simulation versions.
More information on this is provided at Support > Technology > T7 Cloud Simulation.
Eurex is committed to provide trading participants and ISVs with information updates on development of T7 Release 13.0 to support planning and ensure successful launch.
Required Action
All of the trading participants are requested to initiate the preparatory steps to ensure that their own software is fully ready for the new T7 Release 13.0, on Nov. 18, 2024.
Effectiveness
T7 Release 13.0 will now go live on Nov. 18, 2024 for all the relevant trading venues.
Jun. 24, 2024 New Short Code, Algo ID
On Jun. 24, 2024, GE DBoerse and Eurex said new short code and Algo ID solution will be introduced, encompassing first-in-first-out (FIFO) principle and intraday processing.
Adapted upload files and T7 XML member reports (TR160-TR163) will be provided.
Aims to offer more frequent feedback to data submission process for rules adherence.
Will assist in missing short code/Algo ID resolution and optimize upload error handling.
Upload graphical user interface GUI & common upload engine (CUE) will be enhanced.
Correction functionality for historical trading participant short code data submissions.
Trading participants must consider new T7 XML member report TR169 to fulfil the requirement of providing corrections of incurred final missing short codes ongoing.
Must also adhere to all changes starting with T7 Release 13.0, new T7 XML member reports TR170 and TR171 to provide corrections of incurred historical final missing short codes/corrections of historical short code registrations with incorrect long codes.
Time-limited correction phase in 2025, and documentation provided in due course.
Aug. 2024 Short Code, Algo ID Solution
On Aug. 29, 2024, Eurex and GE DBoerse issued new circulars on MiFID II/MiFIR order flagging requirements: Short Code and Algo ID solution enhancement documentation.
In the circulars firms drew attention to Short Code and Algo ID solution enhancement, to be introduced with T7 Release 13.0 on Nov. 18, 2024, and Trading Participants are required to adjust Short Code and Algo ID processing to adhere to enhanced solution.
Respective client documentation is now provided on Eurex and GE DBoerse websites.
Trading Participants must adhere to requirements with the T7 Release 13.0 changes and resources provided, website links can be found in Details of the initiative section.
Required actions include upload files of Short Code and Algo ID submissions of Trading Participants, and altered XML report structures of the T7 XML reports (TR160-TR163).
In addition, the Intraday T7 XML Member reports TR160-TR163 will be provided via the Short Code and Algo ID upload GUI, as well as via the Common Report Engine (CRE).
Common Upload Engine (CUE) file naming convention changed and Short Code and Algo ID files to be uploaded using calendar date rather than business date in name.
New T7 XML Member report TR169 Short Code ID – Correction Report to fulfill a need of providing corrections of the incurred final missing Short Codes on an ongoing basis.
Trading Participants must consider the new T7 XML Member reports TR170 Short Code ID – Historical Correction Report, and TR171 Short Code ID – Historical Long Code Correction Report to fulfill the requirement of providing corrections of missing codes.
A summary of the enhancements is provided in each of the Circulars, and on websites.
Sep. 2024 T7 Release 13.0 Final Release Notes
On Sep. 5, 2024, Eurex, GE DBoerse announced publication of final release notes and further documentation related to T7 Release 13.0; strongly urged all trading participants to take part in the simulation environment starting Sep. 9, 2024.
Sep. 19, 2024 Focus call - Screencast
On Sep. 19, 2024, Eurex, GE DBoerse published T7 Release 13.0: Focus call: screencast and presentation, explaining Enhanced Drop Copy Service; BTRF calendar roll and optional early termination; and enhancements of short code, Algo ID solution.
Oct. 2024 Documentation and Technical Information
On Oct. 14, 2024, Eurex, GE DBoerse announced publication of Short Code and Algo ID solution enhancement documentation and related technical information.
SCLC 2.0 User guide GUI Short Code ID and Algo ID upload is now available here.
Available as of Oct. 14, 2024: restructured menu panel with 3 main categories - common, short code ID, algo ID - and subitems; new module Report Download which displays, downloads Short Code ID reports TR160, TR161, TR166, TR167, TR168, TR169 and Algo ID reports TR162, TR163; paging, sorting, searching of results.
New module Missing(s) for Short Code ID, Algo ID; display of Missing Short Codes/Algo IDs of TR160/TR162 reports; link to eForm to submit Missing Short Codes; paging, sorting, searching of results; new module Final Missing(s) for Short Code ID.
Display of Final Missing Short Codes of TR169 report; link to eForm to conveniently submit Final Missing Short Codes; paging, sorting, searching of results.
New module Upload Error(s) for Short Code ID and Algo ID; display of upload file related errors of TR160/TR162 reports; paging, sorting, searching of results.
Additionally, T7 XML report file naming of TR166 of Eurex (MIC: XEUR) in the production environment will be aligned to streamline the report naming convention.
Currently, in addition to MIC, there is T7 in the file name, which will be removed.
Reports will be aligned with report naming in production environment with T7 Release 13.0 on Nov. 18, 2024; in simulation, T7 XML TR169 Short Code ID - Correction Report had a limitation: an incorrect value in report fields ValidFrom and ValidTo.
This limitation was fixed, correct values provided in report fields on Oct. 9, 2024.
Oct. 15, 2024 Readiness Statement
On Oct. 15, 2024, Eurex, GE DBoerse published the Readiness Statement for T7 Release 13.0; all trading participants must submit statement by Nov. 8, 2024.
