TRADEcho – Go-Live Confirmation

The purpose of this announcement is to confirm the go-live date for TRADEcho on Monday 19 June 2017. Please note that all times are in UK Time.

Customers should provide final readiness sign-off to their Technical Account Manager prior to go-live.
TRADEcho is the suite of reporting services hosted and operated by London Stock Exchange plc, brought to market in partnership with Boat Services.

From 19 June 2017 TRADEcho will replace the current London Stock Exchange plc off order book trade reporting functionality provided by Millennium Exchange via the Post Trade Gateway. Millennium Exchange will continue to support all electronic order books and on Exchange quoting (Firm & Executable quotes).

Customers should note that from Monday 19 June 2017 MITCH market data service and GTP channels A - G will no longer disseminate off order book trade reports. It’s important to note that Symbol and Instrument Status messages on MITCH and GTP channels A – G will continue to be sent to advertise off-book session transitions in order to support the late cancellation of on book trades (PC trade type) submitted via Millennium Exchange. Market Data generated by TRADEcho will be disseminated via new multicast channels on the London instance of Group Ticker Plant (GTP) only.

Technical specifications are available on the London Stock Exchange plc website under the “TRADEcho Technical Specifications” section here.

A Go/No-Go decision will be communicated to customers via the Weekend Activity Monitor by 19:00 UK Time on Saturday 17 June 2017. The Weekend Activity Monitor can be accessed here.

Important Go-Live Information
1.1 Initial Connectivity
TRADEcho will enter the Open session from 06:15 on Monday 19 June 2017 to allow customers an extra hour to establish initial connectivity. Customers should log in using their default password and change the password on first logon. Whilst trades will also publish from 06:15 on this day, there is no requirement for a member firm to enter trade reports before 07:15 as normal.

From Tuesday 20 June 2017, the TRADEcho Open session will revert to the normal start time of 07:15.

1.2 Deferred Publication Trade Reports
Unless cancelled or pre-released by the market participant concerned, most deferred publication trade reports entered on Friday 16 June 2017 or earlier but not due to publish until Monday 19 June 2017 or later, will be migrated from Millennium Exchange to TRADEcho. These deferred publication trade reports will be cancelled on Millennium Exchange by London Stock Exchange between 18:05 and 18:15 on Friday 16 June 2017 and customers will receive the associated cancellation messages via the Millennium Post Trade Gateway. These same trade reports will subsequently be re-entered by London Stock Exchange on TRADEcho in batches from 06:15 Monday 19 June 2017 and customers will receive TRADEcho trade acknowledgements at the point of re-submission. Customers who then subsequently wish to cancel or pre-release the deferred publication trade report following its migration to TRADEcho should do so using their TRADEcho connectivity. Customers can contact Market Supervision on +44 20 7797 3666 (option 2) in the event that they need any assistance completing this action.

Any deferred publication trades in a security which has been made inactive (e.g. due to cancellation of listing etc.) after trade submission but before publication is due will NOT be migrated, instead they will be pre-released by London Stock Exchange between 18:05 and 18:15 on Friday 16 June 2017. Any other deferred publication trades due to publish between 18:05 and 18:15 on Friday 16 June 2017 will also be pre-released by London Stock Exchange between 18:05 and 18:15.

Customers may instead choose to pre-release or cancel their remaining deferred publication trade reports themselves on Millennium Exchange up to 17:15 on Friday 16 June 2017. Where required, they may choose to resubmit these trades to TRADEcho themselves from 06:15 Monday 19 June 2017.

1.3 Trade Reporting Delayed Publication Regime
Customers are reminded that the trade reporting delayed publication regime is documented for each TRADEcho sector in the 3rd tab of the Future DRAFT Millennium Exchange & TRADEcho Business Parameters at this link.

It should be noted that any delayed publication of 24 hours on TRADEcho will mean 24 real time hours and no further extension is applied where the submission date is followed by a weekend and/or a Public Holiday.

1.4 SIX Swiss Exchange Trade Data Monitor
SIX Swiss Exchange has approved London Stock Exchange plc as a Trade Data Monitor (TDM) through its TRADEcho service. The service enables foreign participants (Remote Members) of SIX Swiss Exchange to report their off-exchange (OTC) trades in Swiss securities admitted for trading on a Swiss stock exchange via TRADEcho. If you are a SIX Swiss Exchange Remote Member and would like TRADEcho to send your OTC Swiss trading activity to SIX in order to meet your Swiss obligations please contact the LSE plc Membership team, membership@lseg.com. Trade reporting of Swiss securities On Exchange is not impacted.

If you have any queries about this announcement please contact your Technical Account Manager on +44 (0) 20 7797 3939 or londontam@lseg.com.

FTSE Mondo Visione Exchanges Index:

TRADEcho – Go-Live Confirmation – 19 June 2017