Miscellaneous announcements to folllow.
Trading Venue Transaction identification code (TVTIC) from Oslo Børs used in Transaction Reporting
Oslo Børs provides a unique transaction identification number encoded two ways. On the Native and MITCH protocols, a numerical format is used, whereas the FIX based protocols use an alphanumerical encoding. For the TRS reporting, the numerical encoding should be used, e.g. the alphanumberical-encoded TVTIC with value “T1aNhwVdkv” should be represented as the numerical encoded value 346464895107073.
Conversion between the alphanumerical and numerical encoding of the TVTIC is described in OSLMIT604 Technical Parameters, chapter 12.2.
Market Making under MiFID II
MiFID II RTS 8 sets out the requirements for investment firms and trading venues regarding order books where investment firms are engaged in algorithmic trading and pursuing Market Making strategies. To comply with this regulation, Oslo Børs has published its upcoming Market Making Policies to enter into effect from January 3, 2018.
MiFID II Order-to-Trade Ratio
MiFID II RTS9 sets out the requirements for "Order-to-Trade ratio. Oslo Børs has had in place an “Order-to-Executed Order Ratio” since 2012, where excess orders, based on the member’s monthly activity, incur a charge. This charge is to prevent excessive order activity that does not lead to any improvement of the order books. In addition, to comply with MiFID II regulations from January 3, 2018, Oslo Børs will introduce the “Order-to-Trade Ratio” mandated by the regulation.
Market share statistics post Millennium 9.2 Go-live
As previously announced, Oslo Børs will discontinue the real-time publication of trading participants for executed trades as of the Millennium 9.2 go-live, 27 November 2017.
Overall market share statistics will be published on weekly and monthly basis. The calculation of weekly overall statistics will start as of week 48, with publication on 4 December 2017. The monthly market overall statistics will be published according to prevailing schedule, on the first business day of the month, based on trading activity in the previous month.
The new monthly instrument statistics will be published the first business day of the month, based on trading activity in the previous month. Members may request to opt out of the publication of their own market share within the monthly instrument file. Market share of members opting out will be combined in a member category of “Others”. The first publication of the monthly instrument market share file will be in January 2018, based on the trading activity in December 2017.
Test files describing the set-up may be received on request to Oslo Børs Market Data.
OB Record Keeping
As previously announced, Oslo Børs will facilitate MIFID II's RTS 24 with a new gateway for the submission of mappings between short codes (included in orders messages) and actual customer identification. The gateway is available in Oslo Børs’ production environment as of 13 November 2017, although the requirement to submit mappings apply as of 3 January 2018.
If you have any other questions or comments, you are always welcome to contact one of Oslo Børs’ main contacts (below).
Members
Ingvild Resaland, tel. +47 22 34 19 16, ingvild.resaland@oslobors.no
Torbjørn Vik, tel. +47 22 34 17 47, torbjorn.vik@oslobors.no
Bodil Østby, (fixed income members) tel. +47 22 34 17 09, bodil.ostby@oslobors.no
Market data vendors
Line Mauseth, tel +47 22 34 18 15, line.mauseth@oslobors.no
Christian Pettersen, tel +47 22 34 18 08, christian.pettersen@oslobors.no
Technical
Alexander Næss, tel +47 22 34 17 71, alexander.naess@oslobors.no
Christian Ringstad, tel +47 22 34 17 94, christian.ringstad@oslobors.no
Technical Support, tel +47 22 34 19 90, technicalsupport@oslobors.no
Enablement Team, enablement@oslobors.no
