Euronext informs customers that a new SBE template version 302 for Order Entry and Market Data will be implemented on Equities and Fixed Income Segments in Cash Next EUA (p-EUA) environment on Wednesday 9 September 2020.
Interoperability testing in Cash Next EUA (p-EUA) is available. Customers can start to test trade reconciliation between Euronext and three clearers in the EUA environment to prepare for the Oslo Cash Optiq migration. The Front-to-back test script and webform will be provided shortly.
As mentioned in the Migration Guidelines, Euronext would like to remind customers that Oslo Derivatives instruments will be assigned new ISIN codes as a consequence of the migration. Also, the existing OPEJ3 billing file will be enhanced to incorporate Oslo changes.
New SBE template version 302
Euronext informs customers that a new SBE template version 302 for Order Entry and Market Data, as communicated in the Operational Notice of 17 August 2020, will be implemented on Equities and Fixed Income Segments in Cash Next EUA (p-EUA) environment on Wednesday 9 September 2020. The target date for Production is expected for 12 October 2020.
SBE v302 is introduced to cover Oslo Fixed Income products, and to provide an enhancement for internal Euronext requirements. Customers intending to trade on Oslo Fixed Income must use SBE v302. Customers who do not intend to support the new features embedded in SBE v302 can still continue to use former SBE versions for their applications provided their application is backward/forward compatible. A higher version of SBE could be expected and client applications should be able to manage such difference in versions without impact.
The specifications for v302 can be found under IT Documentation including the updated Euronext Markets - Optiq MDG Client Specifications v4.2.2.
Oslo Cash Interoperability Clearing
Euronext informs customers that the Cash Next EUA (p-EUA) environment is now connected to the three clearing organisations EuroCCP, LCH LTD, and Six x-clear. This means customers can start testing interoperability for Oslo Cash.
The front-to-back script and conformance webform for Oslo Cash interoperability will be published shortly. Trading members are required to submit the webform prior to the Oslo Cash Go-Live. Further details can be found in the Oslo Migration Guidelines, available under IT Documentation.
Note that order entry on Trading groups configured for interoperability requires that the trading members’ clearing configuration has been provided. A trading member who has not provided clearing details for Oslo Cash will not be able to enter orders in Oslo trading groups configured with interoperability in Cash Next EUA. It is therefore important to provide this information as soon as possible to the Euronext Membership team (euronextmembership@euronext.com, +31 (0)20 721 4264) in case this has not been done yet.
Oslo Derivatives Instrument ISIN Change
As a consequence of the migration of Oslo Børs derivatives instruments to the Euronext Optiq Derivatives system, Euronext will assign new ISIN codes to each individual and tradable derivatives instrument when migrating onto Optiq.
The ISIN codes of the current legacy derivatives trading platform will not be kept after the migration.
In order to facilitate the ISIN correspondence between the current legacy derivatives trading platform and Optiq, Euronext will provide a mapping table in order to help identifying the key used to establish such correspondence and enable data vendors, trading participants and trading ISVs to apply it in their system if it is deemed required.
For end to end consistency across the trading to clearing chain, such a file will also be made available to LCH SA, clearing ISVs and clearing members.
File specifications as well as a sample file comparing EUA vs. Production will be provided in due time.
Derivatives Updated OPEJ3 File Specifications
The OPEJ3 file contains the trading fees due by Exchange participants operating on the Euronext Derivatives Markets (Amsterdam, Brussels, Lisbon, Paris and Oslo).
As a consequence of the Oslo Børs Derivatives migration, the OPEJ3 file will be enhanced to include the billing currency of trading fees.
The trading fee amounts will be reported per billing currency in the OPEJ files which will be determined further to the following criteria:
■ In Norwegian Krone (NOK) for trading members only trading on the Oslo Børs Derivatives Markets and having made explicitly this billing currency choice in NOK to Euronext, or;
■ In Euro (EUR) in all other cases, members actively trading in products of:
– Euronext Amsterdam, Brussels, Lisbon, Paris Derivatives Markets, and
– Oslo Børs Derivatives Markets.
Note : The exchange rate conversion from NOK to EUR for international members trading on Oslo Børs products is performed on a daily basis.
The OPEJ3 is sent on a daily basis to the CCP LCH SA who distributes it to the GCMs.
This updated document is available in the IT Documentation section.
This change is expected in September in EUA.
Documentation
EURONEXT MARKETS - OPTIQ MDG CLIENT SPECIFICATIONS V4.2.2
EURONEXT MARKETS - OPTIQ MDG CLIENT SPECIFICATIONS V4.2.2 +TC
DERIVATIVES TRADING FEES FILE - OPEJ3 - SPECIFICATIONS V1.2
Customers who have additional Oslo related questions are invited to contact the Client Services team and use the dedicated client support mailbox for the Oslo migration oslomigration@euronext.com.
