On Jun. 13, OpCC reported new clearing, risk, data platform testing.
OpCC reported plan to launch Ovation, its new clearing, risk, data platform, mid-2025.
Designed to support increased business agility, more efficient and effective operations, enhanced security, more resilient technology for exchanges and market participants.
Provided an overview of platform changes and enhancements for clearing members.
Document dated Jun. 13, 2024, was added on Sep. 6, 2024, due to editorial backfill.
Ovation Platform
Reported new clearing, risk, data platform to provide state-of-the-art technology with microservices in cloud; new, redesigned user interface for enhanced user experience.
More flexible options for accessing, updating data, more transparent transaction data.
To accelerate time to market for new products, quickly deploy technological upgrades.
Also, more rapid responses to clearing member, exchanges, market participant needs.
Utilize modernized technology to offer enhancements for options, futures, stock loan.
Platform Testing
All participants who send/receive files from OpCC must test, even if no layout changes.
Those who access user interface must test all functions they utilize in daily operations.
Revised external testing plan, to test Ovation functionality across 3 Beta releases.
Detailed external connectivity testing, test plan summary, external test connectivity.
Some non-clearing members will not be required to establish connectivity based on interactions with OpCC; to be defined in test strategy for each non-clearing member.
Testing Timeline
Beta 1 is scheduled to begin the week of Jul. 22, 2024, run through Sep. 30, 2024.
Followed by Beta 2, which is scheduled to begin in Oct. 2024, and Beta 3 in Jan. 2025.
Sep. 24, 2024 OpCC Beta 2 Testing
On Sep. 24, 2024, OpCC reported that Beta 2 testing will resume during the week of Oct. 21, 2024, and resume through Jan. 2025; provided listing of Beta phases.
Will offer training to prepare market participants for functions needed for testing.
Call to discuss Beta 2 test, Ovation, and testing requirements scheduled for Sep. 24.
Regulators
OpCC
Entity Types
B/D; Depo; Exch
Reference
Nt 55257, 9/24/2024; Nt 54710, 6/13/2024; Nt 54035, 1/30/2024;
