Cboe Global Markets

Release Notes

Dear Cboe Europe Equities Participants

Cboe Europe (Cboe) will hold a Saturday Brexit Production Dress Rehearsal on Saturday 5th December 2020 as part of Cboe's Brexit programme. The test day in production will allow Participants and vendors to simulate Brexit-like system behaviour in Production in advance of Monday 4th January 2020. The scope of the test day will include the Production BXE, CXE, DXE, TRF (APA) and SIS environments.

Participants should note the following:

* Participation - Cboe is not mandating participation on this test day as Cboe NL (DXE) and the NL APA (TRF) has been live for some time, however it is strongly recommended. The test day will allow Participants to ensure their systems are behaving as expected and ready for Production effective Monday 4th January, 2021 when the Brexit transition period will have ceased.
* Change Freeze - Participants wishing to take part on the day must submit any outstanding requests for new ports by 16:00 UK time of the Thursday 3rd December, 2020. No new port requests will be processed on the Friday before the Saturday test.
* Production Data - Please ensure that your Production systems are configured not to send Production trade reports when Cboe systems come up on the Saturday test day, as all data from these days will be discarded as test data. Cancellation or Amendment of Trade Reports will not be allowed on these test dates. At the end of the test day Participants should clear down their applications to ensure any unwanted data from the weekend test is not retained in their live trading systems on the following Monday morning.
* Transaction Reporting Enforcement - As previously announced, Cboe is currently enforcing cross border trading in the Certification (UAT) environment. Additionally, effective Saturday 5th December, 2020 Cboe will enforce the Transaction Reporting solution configuration in place at the port order entry level. This enforcement will reflect the behaviour to be expected in the Production environment, effective Monday 4th January, 2021 when the Brexit transition period will have ceased. Please note that this change will be reverted at the end of the test day ready for trading on Monday 7th December, 2020.
* Clearing Permissions - Participants will need to ensure they have the required UK or NL venue clearing in place in advance of the test day. Firms without the required Clearing paperwork in place will have their order and trade flow rejected. Please contact the Participant Services team or your Account Manager should you have any questions.
* Orders & Trades on the day
* All symbols will be available for submission on the test day.
* A sustained low market data load will be simulated throughout the day allowing Participants and vendors to test their market data consumption capabilities.
* Simulated liquidity will be made available for Trading Participants to cross and generate fills, details of the symbols will be communicated closer to the test date.
* Pegged orders will not be supported on the day.
* Trades transacted on the day will not be submitted to CCPs for Clearing and Settlement.

Expected Schedule on the day:

* Details of the schedule will be communicated closer to the test date.

Certification (UAT) Testing
As mentioned, the Cboe NL (DXE) and NL APA (TRF) has been live for some time, the UAT environment is already available for testing with Transaction Reporting enforcement enabled.

Please contact the Trade Desk or your Account Manager if you have any questions.

All current and historical Cboe Europe Equities notices, including symbol universe updates, are available online at https://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.