Revision History
| Version | Date | Description |
|---|---|---|
| 1.0.0 | 05/05/21 | Initial major revision corresponding to the introduction of Multilateral Compression functionality in the Cboe Compression Service. |
| 1.0.1 | 05/21/21 | Clarified guidance on floating point numeric input precision required for TPHs to be able to exactly replicate constraint values in compression detail output files. Added separate step to Figure 1 workflow to separate FIX Drop from Multicast PITCH and TOP compression trade dissemination. |
| 1.0.2 | 06/07/21 | Clarified that FLEX options not supported. Clarified that expired or contracts expiring the day of compression are not allowed for both Multilateral Compression and Match Data Service input files. Specified at least one custom risk constraint required in Multilateral Compression input. All zero close_benefit values not allowed in Multilateral Compression input. Custom risk constraint minimum values must be <= 0.0 and maximum values must be >= 0.0. Clarified that the Multilateral Compression trade output file presents total traded quantity for each option, whereas actual trades may comprise multiple fills per option. |
| 1.0.3 | 06/18/21 | Updated intraday timeline for hybrid multilateral and match data service, and match data service only days to reflect additional 10 minutes to upload files (cutoff now 16:50 ET). For multilateral dates, after 15 minutes of computation time, TPHs have 23 minutes between 17:05 and 17:28 to approve the compression portfolio. |
| 1.0.4 | 07/02/21 | Clarified that specification of max_cost_benefit value is required and not optional. |
| 1.0.5 | 07/28/21 | Added Clearing Capacity with allowed values M, N and F to the Service Registration section. Clarified that Market Maker Clearing Account required only if Clearing Capacity is M or N. Updated workflow to add Trade Data and Trade Details files to the methods by which TPHs can access CCS trade information from the exchange. |
| 1.0.6 | 08/12/21 | Removed document effective date as multilateral compression is now in production. |
| 1.0.7 | 10/12/21 | Indicated that compression schedule changes will be announced to certified TPHs via direct communication. Narrative regarding use of unconstrained mirror compression as part of the certification process was removed and will be updated in a future release. |
| 1.0.8 | 10/28/21 | Added L (Non-TPH Affiliate) to the list of allowed Clearing Capacity values. |
| 1.0.9 | 11/18/21 | Updated user manual to include system details of Phase 2D CAT reporting. Updated service registration data to include Firm Designated ID account identifier to use in CAT reporting of MONO events, and preference for exchange or self-submitting of IM data. |
| 1.0.10 | 12/27/21 | Changed input submission window from 16:50 ET to 16:45 ET. Clarified that compression analytics may complete prior to the scheduled 17:05 ET in which case output files are prepared and presented to TPHs prior to 17:05 ET. |
| 1.0.11 | 03/02/22 | Updated the example input file data in Figure 8 to correspond to the formatted input file example presented in Figure 9. |
| 1.0.12 | 03/13/23 | Removed references to match data service details, leaving only reference to multilateral compression to improve clarity. Increased maximum custom risk constraints from 1,000 to 1,500. |
| 1.0.13 | 10/27/23 | Added additional items to the "common causes of input file validation errors" list in section 3.1. |
| 1.0.14 | 02/11/25 | Updated with Cboe Titanium branding. |