Cboe Global Markets

Release Notes

Dear Cboe Europe Equities Participants,

Cboe Europe is pleased to confirm the launch of Cboe Closing Cross (3C) on the DXE Order Book (Cboe NL), effective Friday 27th November, 2020, subject to regulatory approval.

Summary

* The 3C session in DXE will operate under the MIC 'CEUX', using a differentiated crossing algorithm

* The 3C session for all non-REGM symbols will begin at the Continuous Trading session End Time for each market segment as documented here and will last 25 minutes

* A series of 3C crossing periods, 15 seconds in duration, will run back-to-back throughout the 3C session

* Allowed orders will be visible and at limit only

* Min Qty and Broker Preferencing will be supported
* Orders are subject to a 20% static collar based on the last continuous book traded price on BXE, CXE or DXE using the transaction time from the matching engine to determine the most recent trade price to use.

Reference Data

A value of 'U' will be visible in the column 'supported_services', to indicate symbol eligibility for the 3C session.

Pricing

Executions in the 3C session will be free of charge for 2020. The trading price list is available here.

Certification (UAT) Testing

3C is now available in the DXE Certification (UAT) environment

Production

3C will be available in the DXE Production (PROD) Environment effective Friday 27th November, 2020 (subject to regulatory approval) for all market segments as per the Guidance note (link below).

Documentation

* Cboe Closing Cross Guidance Note

* Cboe Europe Technical Specifications

* Cboe Europe Participant Manual

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.