Cboe Australia Technical Roadmap

Cboe is aware of potential impacts on clients and the resource contention with other priorities throughout the APAC region. The information provided here can be used by clients to plan for proposed and scheduled technology releases. Cboe makes every effort to minimise the impact of changes and provides optionality where possible. Technical Specification impacts are highlighted in the table below per functionality update.

Functionality Timeline

The 2026 functionalities and their implementation timeframes listed below are subject to regulatory review and user input. We anticipate publishing a consultation paper in early 2026.

Functionality	Mandatory or Optional	Cert (Test)	Production All dates will be clarified in forthcoming Technical Notices
2026
Trading Priority Refinement Refine the existing trading priority to include Hidden/Pegged Intention Standard priority will then be: 1) Price, then 2) Visibility (Lit then Dark), then 3) Hidden/Pegged Intention (Far Point then Mid Point then Near Point), then 4) Time	No Impact Noting that the sequence in which hidden orders are executed is not visible to participants	*Jan-2026	Q1 2026
Order Conversion Service (OCS) Expansion Additional ‘Account granularity’ for existing Timed Expiring Orders (TEO) We plan further OCS functionality expansion throughout the year, noting all OCS features are optional	Optional usage	*Feb-2026	Q1 2026
Multi-Day Orders Expanded to ASX Symbols Allow GTC and GTD usage for ASX Equities and Funds	Optional usage	*Mar-2026	Q2 2026
Trading Hours Alignment for market consistency Align Continuous Trading window with recent ASX changes Align ‘Late (L)’ Trade Reporting window with ASX Align ‘Evening (E)’ Trade Reporting window with ASX Adjust commencement of @Last Trading (MOC) phase and align its close with the close of the ASX Post-Close phase	Note there are only timing changes and no specification changes or message changes	Q2 2026	Q2 2026
Pegged Nearpoint Order Enhancements CXA is working on further efficiencies for Pegged Nearpoint orders - TBC	Optional usage	Q2 2026	Q2 2026
2025
BOE with Dedicated Cores is an additional option for BOE clients to achieve greater certainty with ~25% reduced internal latency.	Optional	n/a	20-Jan-2025 Complete
Order Conversion Service (OCS) allows participants to instruct Cboe systems to apply pre-defined order conversions on their behalf, without the need for participant development effort. The first instance of OCS will include the option to convert incoming Pegged IOC orders into Pegged GTD orders with a sub-second expiration.	Optional	17-Feb-2025	4-Mar-2025 Fully optional. Uses Port Attributes settings. Complete
Auctions on CXA symbols will be introduced for opening and closing liquidity events on CXA Funds and as part of the planned launch of a corporate listing function for CXA.	Mandatory	18-Nov-2024	17-Mar-2025 Production timing subject to regulatory approval. Allow sufficient testing and avoids ASX SR15 timing. Complete
Retirement of V1 BOE Messages concludes the 6 - 9 month period where participants can migrate their BOE applications from V1 to V2 messages to suit their own schedule.	Sunset Date	Same date as Production	31-Mar-2025 Complete
Purge-Amend Port extends the existing Purge Port functionality to facilitate the amendment of orders that were entered by any order entry port across your firm.	Optional	14-Apr-2025	19-May-2025 Complete
Inbound Bandwidth Monitoring is a system protection which disables a 10Gb physical port if incoming messages exceed 5Gbps, far exceeding normal operation bandwidth.	No impact	n/a	24-May-2025 Complete
Self-Trade Prevention in CXA Auctions will include the Booking Purpose outcome to align with AU market requirements.	No impact	*Jul-2025	*Aug-2025 Complete

Impact and Planning

Functionality	Order Entry FIX BOE Purge-Amend Port	Private Feeds FIX Drop ODROP	Market Data Feeds PITCH TOP Reference Data Files
2026
Trading Priority Refinement Refine the existing trading priority to include Hidden/Pegged Intention Standard priority will then be: 1) Price, then 2) Visibility (Lit then Dark), then 3) Hidden/Pegged Intention (Far Point then Mid Point then Near Point), then 4) Time	No technical specification change, noting that trading priority with contra hidden orders is refined	No technical specification change	No technical specification change
Order Conversion Service (OCS) Expansion Additional ‘Account granularity’ for existing Timed Expiring Orders (TEO) We plan further OCS functionality expansion throughout the year, noting all OCS features are optional	No technical specification change, noting all OCS options are deployed using Port Attributes	No technical specification change	No technical specification change
Multi-Day Orders Expanded to ASX Symbols Allow GTC and GTD usage for ASX Equities and Funds	No technical specification change, noting the functionality is the same as existing multi-day orders on CXA symbols	No technical specification change	No technical specification change, noting the functionality is the same as existing multi-day orders on CXA symbols
Trading Hours Alignment for market consistency Align Continuous Trading window with recent ASX changes Align ‘Late (L)’ Trade Reporting window with ASX Align ‘Evening (E)’ Trade Reporting window with ASX Adjust commencement of @Last Trading (MOC) phase and align its close with the close of the ASX Post-Close phase	No technical specification change, however trading phase timing will be updated	No technical specification change, however trading phase timing will be updated	No technical specification change, however trading phase timing will be updated, noting that the *Trading Status* message timings will be adjusted accordingly
Pegged Nearpoint Order Enhancements CXA is working on further efficiencies for Pegged Nearpoint orders - TBC	Optional technical specification update to use Pegged order entry with additional Focused Near Point option	Optional technical specification update to indicate Focused Near Point on order updates	No technical specification change

Contact Us

For more information contact the Cboe Trade Desk at [email protected] or call 02 8078 1701.