Technical guidance notes
In between Technical Specifications the Exchange may publish separate project specific supplements. Each of the current projects is listed below.
- Customer Connectivity Policy
The London Stock Exchange currently monitors all activity within the production and test environments. In order to maintain an orderly and compliant market, the technical activity of client connections are constantly monitored. The London Stock Exchange retains the right through the rulebook and contractual agreements to disconnect customers if any inappropriate behaviour is observed. The purpose of this document is to provide further information on this policy.
- Market Data Bandwidth Profiles
In order to provide greater transparency and assist our clients in future capacity planning, the London Stock Exchange Group has published projected Extranex bandwidth figures. In addition to the Q3 2011 and Q4 2011 data expectations, indicative forecasts of the future market growth in Q1 2012 and Q2 2012 are also included.
- London Stock Exchange Group Connectivity
- TradElect Technical Specifications
Issue 15 of the TradElect Technical Specifications can be found here.
- Oslo Børs cash equity and fixed income market migration to TradElect
As part of their commitment to providing world-leading execution services Oslo Børs has formed a strategic partnership with the London Stock Exchange Group. This will see the migration of the cash equities and fixed income markets to the TradElect platform with Infolect used for market data distribution. These documents contain the information that Oslo Børs members require in order to migrate the cash equities and fixed income markets to both TradElect and Infolect.
As part of a programme of initiatives designed to facilitate wider access to our markets we are introducing a FIX 5.0 interface to TradElect. Our FIX 5.0 Interface will enable customers to take advantage of a global industry-driven standard without compromising on performance. Customers can access a high performance interface that further supports richer trading functionality, making future, functionality developments and conformance requirements far easier and cost-effective for market participants. The FIX Repository represents the raw data behind the FIX specification in "database-compatible format". Files include an XML data dictionary with complete enumeration values and XML message content.
- Order Book Enhancement Programme
We operate a continuous programme of investment ensuring our services are continually enhanced to meet today’s trading challenges and opportunities. Our hidden order functionality will provide richer trading functionality for our SETS, IOB and ITBB order books, enabling customer’s orders to interact with a deep, liquid order book, providing a high probability of execution, whilst minimising information leakage and helping to reduce the total cost of trading.
This phase of the enhancement programme consists of hidden limit orders, hidden pegged orders and minimum execution size.
- Central Counterparty and Settlement Netting
The Exchange has introduced a choice of CCP for equity trades on the SETS and SETSqx market. Customers can choose to clear their trades through either LCH.Clearnet Ltd or SIX x-Clear AG. It does not matter whether the trading counterparty is using the same or a different CCP.
The approach used is consistent with the European Code of Conduct for Clearing and Settlement peer-to-peer interoperability model.
The CCP service was enhanced on 1 July 2002 to include optional settlement netting. The objective is to allow participants to have just one net settlement per security per day with LCH and x-clear, irrespective of the number of trades they had dealt on SETS.
The CCP service is now available for all automatic executions on SETS and SETSqx.