Slide 1: Integrated Trading and Clearing (ITaC) Project Forum
Integrated Trading and Clearing (ITaC) Project Forum 5 September 2018 1
Slide 2: Agenda
Agenda • ITaC Key Dates • ITaC Market Dress Rehearsal 15 September 2018 • High level objectives and approach • Participation requirements • Trading and Post-Trade Business functional test guides • Trading Member and Clearing Member trade reporting counterparty allocation • JSE measurement criteria •
Slide 3: ITaC Key Dates - Proposed
ITaC Key Dates - Proposed Date Milestone 20 Aug – 3 Sep 2018 ETE Testing – Cycle 4 Scripted 4 Sep - 7 Sep 2018 ETE focused Test We are here 10 Sep – 14 Sep 2018 MMDR 8 Prep PLEASE NOTE: 15 Sep 2018 Go-Live Ready Dress Rehearsal – mandatory for all clients Mandatory for all clients for ALL ITAC MARKE
Slide 4: ITaC Agreements – Now OVERDUE!
ITaC Agreements – Now OVERDUE! • JSE Services Agreement (JSA) – 85% complete • Signed JSA is required to access all production and test services including the End-To-End environment • JSA should have been signed by Friday, 27 July 2018 which was prior to the start of Scripted End-To-End testing on M
Slide 5: Agenda
Agenda • ITaC Key Dates • ITaC Market Dress Rehearsal 15 September 2018 • High level objectives and approach • Participation requirements • Trading and Post-Trade Business Functional test guides • Trading Member and Clearing Member trade reporting counterparty allocation • JSE measurement criteria •
Slide 6: Thank you for your active engagement and participation!
Thank you! Thank you for your active engagement and participation! 6
Slide 7: High Level Dress Rehearsals Objectives
High Level Dress Rehearsals Objectives • Key objectives of the Go-Live Ready Dress Rehearsal:- • Simulate a normal production business day for all ITaC Markets • To ensure all Markets operate successfully together on ITaC go live • All ITaC functionality, deployment and cut-over activities are succe
Slide 8: Participation in Dress Rehearsal – Sept 2018
Participation in Dress Rehearsal – 15 Sept 2018 • Equity Market • Mandatory for all clients • At least one user per Trading Member but as many as required to simulate a normal production day • All Live Information subscribers with direct connectivity to the JSE • All Shared Infrastructure Providers
Slide 9: Participation in Dress Rehearsal – Sept 2018
Participation in Dress Rehearsal – 15 Sept 2018 • Equity Derivatives and Currency Derivative Markets • Prove all access credentials – Every Trader ID must be tested (unless JSE has specifically indicated otherwise to your firm) including TraderIDs assigned to back office trading AND clearing staff t
Slide 10: Equity Market – key steps to success!
Equity Market – key steps to success! 1 Test is in Production Environment 2 Mandatory participation for all clients – at least one representative per firm 3 Trading Members: Simulate normal production business day activity 4 Information Subscribers: Subscribe to and process all market data 1. 5 CLEA
Slide 11: Derivatives Markets - key steps to success!
Derivatives Markets - key steps to success! 1 Test is in Production Environment 2 Mandatory participation for all clients 3 All clients MUST PASS all defined minimum criteria as this is a Go Live Ready dress rehearsal Trading Members: Must successfully submit at least ONE ORDER OR TRADE PER TRADER I
Slide 12: Participation in Dress Rehearsal – Sept 2018
Participation in Dress Rehearsal – 15 Sept 2018 • Live Information Subscribers • Subscriber to real-time multicast data • Login to perform recovery via the Replay and Recovery Gateways • Verify the new Symbol Directory message for the user created instruments change • International Access Point subs
Slide 13: Dress Rehearsal Checklists
Dress Rehearsal Checklists • Equity Market • A high level test schedule will be provided • NO CHECKLIST to be completed or returned to the JSE • Simulate normal business activity for a normal production day • PLEASE USE REALISTIC PRICES AND MAKE THE TEST SUCCESSFUL FOR EVERYONE!! • Equity Derivative
Slide 14: Dress Rehearsal Scope Exclusions
Dress Rehearsal Scope Exclusions • Remember to confirm what business functionality is not applicable to your firm • Please also ensure that if a Trading Member outsources functions to a Clearing Member that this is clearly indicated in your Post-trade checklist returned to the JSE • Business functio
Slide 15: Measuring Success of Dress Rehearsals
Measuring Success of Dress Rehearsals • Equity Derivative and Currency Derivative Markets • ALL CLIENTS MUST PASS the minimum criteria in this dress rehearsal as Software Providers have made changes to their Front Ends and the JSE has implemented some bug fixes Clients Business Technical Same as pre
Slide 16: Dress Rehearsal Sept 2018 – Reference Data
Dress Rehearsal 15 Sept 2018 – Reference Data TAKE NOTE! Data cut as at Fri 7 Sept 2018 for: Fri 7 Sept 2018 • All Trading, Market Data and RTC enablements (CompIds & RTC UserIDs) • Production data • All TraderIDs and TraderGroups cut taken • Passwords – therefore any password changes required MUST
Slide 17: Dress Rehearsal Testing – Issue Logging
Dress Rehearsal Testing – Issue Logging • Ensure clear issue logging procedure for your team • Ensure you have the support helpdesk contact details of your software provider for support during the dress rehearsals and log all software issues with them • Log all queries with first line JSE Client Ser
Slide 18: Dress Rehearsal Schedule – September 2018
Dress Rehearsal Schedule – 15 September 2018 • Technical Teams • 6h30 – 13h00 - technical teams be on site 6h30 – 7h00 • ~11h30 – 12h00 Market Halt – all automated trading will be halted for 10 mins and followed by a 5 min re-opening auction call in EQM & EDM (staggered and for applicable instrument
Slide 19: Dress Rehearsal Tracking – additional support
Dress Rehearsal Tracking – additional support • Each JSE client has a dedicated JSE user readiness contact (“buddy”) – don’t know who your buddy is? Send an email to ITaC@jse.co.za • Your JSE “buddy” will contact your nominated key ITaC contact person (primary/responsible officers) to exchange conta
Slide 20: Trade Reporting counterparty allocation
Trade Reporting counterparty allocation • As indicated in the Trading test guide each Trading Member and each Clearing Member will be allocated two trade reporting counterparties for the dress rehearsal • The intention is that clients are paired with counterparties that they deal with in a normal bu
Slide 21: ETE Focused test observations
ETE Focused test observations • PLEASE NOTE FOR TESTING IN DRESS REHEARSAL • Invalid Trade Times – check that the time is populated correctly and regional settings and times are correct on the Front End • Trader IDs not authorised for market – use the correct Trader IDs for the correct markets • Tra
Slide 22: Off Book (Reported) Trade Types
Off Book (Reported) Trade Types EDM & FXM Include In Reporting Cumulative Trade Model Published to Trade Name Dealing Capacity Market Statistics for Type (Single or Market Y/N Current Trading Dual) Day JSE_EDM AT Automated Trade A-A, A-P, P-A, P-P N/A Y Y JSE_FX JSE_EDM UT Uncrossing Trade A-A, A-P,
Slide 23: Dress Rehearsal Trading Results Criteria
Dress Rehearsal Trading Results Criteria Connectivity PASS Market Connectivity RATE Native Trading Post Trade - Own Post Trade - OBO Drop Copy Pass mark is 85% for EDM & FXM % EDM/ Login All Login Login both Login Login both Login Login both Login FXM 3 GWs GWs GWs GWs Trading – Order Management Ord
Slide 24: Dress Rehearsal Post-trade Results Criteria
Dress Rehearsal Post-trade Results Criteria 15 September 2018 - Mandatory Market Dress Rehearsal Firm Name: Post-trade Business Functional Test Worksheet Instructions for completion of the Post-trade Business Functional Test Guide: 1. Trading Members and Clearing Members are required to complete COL
Slide 25: Agenda
Agenda • ITaC Key Dates • ITaC Market Dress Rehearsal 15 September 2018 • High level objectives and approach • Participation requirements • Trading and Post-Trade Business functional test guides • Trading Member and Clearing Member trade reporting counterparty allocation • JSE measurement criteria •
Slide 26: User Readiness Report
User Readiness Report Remember that your September User readiness reports are due on Friday, 14 September 2018 • If you have not previously submitted a checklist - kindly remember to do so • Who can assist me in understand the checklist? • Please contact your JSE buddy for assistance • Who needs to
Slide 27: Questions?
Questions? Please refer all queries to the JSE Client Service Centre (CSC) CustomerSupport@jse.co.za +27 11 520 7777 27