Cboe Global Markets

Release Notes

Cboe Europe: Cboe LIS Brexit Migration
September 16, 2020 14:35:02

Dear Cboe Europe Equities Participants

As part of Cboe's Brexit preparations, we are pleased to announce the introduction of Cboe LIS functionality to the Cboe NL venue (MIC: 'LISZ'), providing Participants access to block trading in 16 EEA markets. Cboe UK will offer LIS functionality across 18 markets (EEA + UK & Switzerland) both prior to and post-Brexit Transition Period (MIC: 'LISX').

In order to access the liquidity available on the new LISZ book, Participants will need to fulfil the below requirements:

- Valid clearing arrangements on Cboe NL (DXE) venue.

- LIS order (IOI) entry sessions nominated for European flow (Participants will need to request new IOI entry ports in order to access the EU liquidity). Your Account Manager will be in contact to notify you of your existing port configuration.

- Drop copy or Trade Data file access on Cboe NL (DXE); This is optional for Participants that will use the Cboe LIS Drop copy.

- Designated Brokers in our LISX and LISZ venues will be asked to review their clients' access to Cboe UK and Cboe NL so that they can remain within any Participant obligations (Share Trading Obligation).

- Users/Clients of Designated Brokers are required to complete the Cboe LIS user form here prior to going live.

Trades reported via Cboe NL will have an LISZ MIC code from the Production Go Live date, to be shared with Participants in a further communication. LISZ will be available for 16 EEA markets supported by Cboe NL. Participants should note that the launch is subject to regulatory conditions in the run up to and at the time of Brexit and a final launch decision by Cboe. We therefore advise Participants to retain their existing Cboe UK connectivity whilst also establishing Cboe NL connectivity.

Reference Data
The LIS Symbol Reference Data File will not be supported after the Production Go Live date. Participants will be required to download the CXE and DXE Symbol Reference Data Files where the 'supported_services' column value will denote whether a symbol is reported via Cboe UK (CXE) or Cboe NL (DXE) as per the below:

- Cboe LIS UK (CXE) - 'L' for supported_services

- Cboe LIS NL (DXE) - 'N' for supported_services

Pricing
Cboe NL LIS ports will be free of charge until 31st January 2021. All other prices remain unchanged.

Testing
The changes described above will be available in the Cboe LIS test (Certification) environment from 2nd November 2020. Please contact the Trade Desk in order to facilitate testing.
Participants will also be able to test their Production setup using Cboe Test symbols. The availability of Production testing will be announced at a later date.

Production
The launch of the Cboe NL LIS Production environment will be communicated in a subsequent notice, however Participants will be able to order Production ports immediately. Please liaise with your Account Manager to confirm your requirements.

Documentation
Symbol Reference files
Price lists
Cboe LIS Service Request Form
Brexit Microsite

Please be aware that Cboe's Brexit plans may be impacted by future political or regulatory developments. Please contact the Trade Desk or your Account Manager if you have any questions.

All current and historical Cboe notices, including symbol universe updates, are available online at http://markets.cboe.com/europe/equities/notices/release_notes/.

Trade Desk
Cboe Europe Equities
T. +44 20 7012 8901 (UK); +31 20 299 6801 (NL)
E. [email protected] | cboe.com >
* Cboe Europe Limited is a Recognised Investment Exchange regulated by the Financial Conduct Authority.
* Cboe Europe BV is licensed to operate a Regulated Market, Multilateral Trading Facility and Approved Publication Arrangement by the Dutch Authority for the Financial Markets.