ISE OBOE Release 1.0 Production Access Guide Version: 1.3 Publication Date 29 th January 2018 Release Date 4 th December 2017 ISE OBOE powered by Deutsche Börse 7 Market Technology
Contents 1 Production Overview 3 2 Features of ISE OBOE 3 2.1 Overview of Functionality and Scope 3 2.2 MiFID II Specific Features 3 2.3 Trading Data Availability 4 2.3.1 Public trading data available via CEF 4 2.3.2 Private trading data available via GUI, FIX, Report 4 3 Production Environment 4 4 Preparation for Production 5 4.1 Member Section Central Coordinator 5 4.1.1 Legal Entity Identifier (LEI) 6 4.1.2 ISE OBOE - Trade Reporting Admin and ISE OBOE - User rights 7 4.1.3 ISE OBOE Trade Reporting Role 8 4.2 Connectivity Access 10 4.2.1 FIX Connectivity 10 4.2.2 WebUI Connectivity 13 5 Report TC815 15 5.1 Report naming conventions 15 5.2 Report layout TC815 Daily MiFID OTC Trade Reporting 15 6 Communication 17 ISE OBOE Release 1.0 Page 2 of 17
1 Production Overview ISE OBOE is the successor system to the trade reporting facility in the ISE Xetra trading system. It will facilitate MiFID II-compliant trade reporting of off order book on exchange deals in ISE instruments. The ISE OBOE trade reporting solution will include all applicable pre- and post-trade transparency requirements and in addition will incorporate the specific ISE customisations, such as the specific ISE trade flags, together with some service enhancements. ISE OBOE will be launched on 4 th December 2017 with Simulation available since 25 th September. 2 Features of ISE OBOE 2.1 Overview of Functionality and Scope Access to the ISE off order book on exchange trade reporting is available via browser based WebUI and via standard FIX interface. A successful trade report entry, cancellation or amendment is acknowledged by a message from the OBOE trade report system. A trade report that does not pass the validation checks is rejected with an error message. One-sided trade entry is provided. Self-cancellation and amendment of trades are supported. This is enhanced to allow amendments and cancellations up to T+2. Prices can be reported up to 4 decimal places. After trade report entry, price, volume and other fields are validated before the trade is published. ISE specific trade flags are available. 2.2 MiFID II Specific Features Reported trades are disseminated via CEF (Consolidated Exchange Feed) in the CEF core data feed together with order book trades within the Irish Stock Exchange Level 1 information product. They are also considered in the calculation of open/high/low/official closing price (OCP), and daily turnover and volume. Members can defer trade publication in accordance with the post-trade large-in-scale deferral mechanism in accordance with MiFID II. All trades are published immediately to the market via CEF unless selected for and meeting the criteria for deferred publication. Provision of the new Transaction Identifier Code (TIC) in the trade confirmations and end of day TC815 report, confirming publication of trades. The relevant pre-trade transparency waivers, Negotiated Deal and Large-in-scale 1, are available for members to select on trade entry. The applicable post-trade flags set out in RTS 1, Annex I, Table 4 are also provided. MMT flags like Change ID, Pre-Trade Transparency flags, other MiFID II flags, ISE trade flags and NODEF are automatically mapped and displayed within the CEF broadcast. 1 As required by MiFID II, the ISE is in the process of seeking approval from its National Competent Authority, the Central Bank of Ireland, for use of the waivers. If approval for these waivers is not received, the functionality will be disabled and members will be informed. ISE OBOE Release 1.0 Page 3 of 17
2.3 Trading Data Availability 2.3.1 Public trading data available via CEF The ISE OBOE trade reports from the ISE OBOE system are publicly available to the members and vendors via the existing CEF interface. The trades are disseminated in the regular trade broadcast stream to the members. 2.3.2 Private trading data available via GUI, FIX, Report WebUI Browser based GUI is available to access the ISE OBOE trade reporting system via the internet. Trades entered are displayed in the respective overview window with several filter options. FIX Interface Standard FIX interface is available, which can be accessed using FIX protocol 4.2 and 4.4 via the existing Xetra T7 transaction channel of the N7 network connection. The trade reporting functionality follows the same logic that is offered via the WebUI, and trades are reflected as private messages to the respective trade owners. Report TC815 The TC815 report is available via the Common Report Engine (CRE). It is generated in the evening and contains all the trade reports submitted by the member firm on that same business day consisting of all added, amended and cancelled trade reports. It has a different structure than the existing TC815 report from the ISE Xetra trading system. 3 Production Environment The production environment of ISE OBOE will be open each day in line with the normal ISE trading day, as outlined in the diagram below (blue start and end times). ISE OBOE Release 1.0 Page 4 of 17
4 Preparation for Production The following aspects and timelines are important and need to be considered by members in order to be prepared for the production phase: Date Preparation task Responsible By 24 th Nov. if not already completed for simulation By 24 th Nov. if not already completed for simulation By 24 th Nov. if not already completed for simulation By 24 th Nov. 2017 By 24 th Nov. 2017 By 24 th Nov. 2017 Verify and confirm Member Section access for Central Coordinator Upload LEI via Member Section Assign ISE OBOE - Trade Reporting Admin role and ISE OBOE User role (ISE OBOE Trade Reporting user) to one or more users who should act as administrator(s) for ISE OBOE users Assign ISE OBOE User role (ISE OBOE Trade Reporting user) to those users who will be OBOE traders Create GUI certificate and install in the users browser (if connecting via the WebUI) Apply for OBOE FIX session (if connecting via FIX) ISE members Central Coordinator Central Coordinator ISE OBOE Trade Reporting Admin or Central Coordinator ISE OBOE Trade Reporting Admin or Central Coordinator, or User (ISE OBOE Trade Reporting User) Central Coordinator In general, these tasks belong to two categories which are described in detail below: 1. User setup and entitlement assignment (chapter 4.1) 2. Connectivity setup (chapter 4.2) 4.1 Member Section Central Coordinator The Member Section of the Xetra website is used to facilitate initial access as well as certain ongoing administration functions. For this reason, all members must verify the Member Section access credentials of their existing Central Coordinators, and provide contact details (Name, email, member name/id) for their nominated Central Coordinator and Central Coordinator Deputy to the ISE by email to iset7@ise.ie. This should have already been done for simulation preparation. The ISE OBOE application is located in Deutsche Börse s new Regulatory Reporting Hub (RRH) portal of the Member Section. This enables members who also wish to participate in the RRH services of the Deutsche Börse Group to manage general information and perform the user setup for the RRH access in the same location. The Portal is available via the following URL: https://member.regulatoryreportinghub.com/irj/portal Note that the technical requirements to use the Member Section (browsers and Java versions supported, etc.) are described at the bottom of each page of the Member Section website. ISE OBOE Release 1.0 Page 5 of 17
4.1.1 Legal Entity Identifier (LEI) As a first step, the Central Coordinator from each member must submit the Legal Entity Identifier (LEI) for their company via the member section; this should have already been done during preparation for simulation. After login, the Central Coordinator clicks on User Administration menu item on the welcome page: The LEI maintenance field is available by clicking on the Legal Entity Identifier (LEI) link on the lefthand menu. ISE OBOE Release 1.0 Page 6 of 17
4.1.2 ISE OBOE - Trade Reporting Admin and ISE OBOE - User rights The Central Coordinator is required to maintain via the Member Portal the specific ISE OBOE - Trade Reporting Admin entitlement needed for successful member setup and maintenance, both in Simulation and in Production. Users with Central Coordinator access can grant the ISE OBOE - Trade Reporting Admin role to the respective users by selecting the related record via: <User Administration> => <Overview> => <All Users> => <User Overview> => <Select Action> => <Maintain User Rights> In the Select additional access rights form opened for the selected user after clicking on the ok button, the Central Coordinator has to activate and then submit the ISE OBOE - Trade Reporting Admin right in the ISE OBOE Trade Reporting section. ISE OBOE Release 1.0 Page 7 of 17
Every user who will act as administrator for ISE OBOE users in the Member Portal requires both access rights ISE OBOE - User and ISE OBOE - Trade Reporting Admin. Users who will act as ISE OBOE traders must be assigned the ISE OBOE - User access right only to make them eligible for successful ISE OBOE Trade Reporting role assignment. Note, the access right ISE OBOE User Approval should be left blank, as this right is required for ISE administration only. 4.1.3 ISE OBOE Trade Reporting Role The following roles are supported for each ISE OBOE trader (users with ISE OBOE - User access right only): Read only role with view only rights. Full ISE OBOE role providing all rights including bulk file upload via GUI, entry, modify, cancel and view rights. Full ISE OBOE (without upload) role providing identical functions as Full ISE OBOE but without bulk upload functionality via the GUI. For the respective role assignment on the user level, one ISE OBOE - Trade Reporting Admin user has to select one of the environments Production or Simulation displayed in the <Member Section> => <Regulatory Reporting Hub Administration> overview. A service record for the selected environment will be displayed and can be opened after its activation reflecting Service title, Customer, LEI, Reporting Member ID, etc. details as far as available. Note that the Administration button must be selected before the details of the service can be amended and users can be assigned ISE OBOE user roles. Abcdefg Ltd. ABCDB ISE OBOE Release 1.0 Page 8 of 17
When an ISE OBOE - Trade Reporting Admin user selects the related service, the list with users available for role assignment is displayed. An ISE OBOE - Trade Reporting Admin user can maintain effective user role assignment for the users eligible for OBOE trading entitlement, as shown in the following screenshot, if they are also setup with RRH - user access rights (refer to the screenshot User Overview, section 4.1.2). By granting the role Full ISE OBOE or Full ISE OBOE (without upload) the user is entitled and can access ISE OBOE Trade Reporting. Read only role allows the user to view existing trades only. Full ISE OBOE role allows the user to enter Trade Reports, with or without the possibility to upload Trade Reports via file to the WebUI. ISE OBOE Release 1.0 Page 9 of 17
4.2 Connectivity Access Connectivity access to the ISE OBOE Trade Reporting solution is supported via: FIX API interface (optional) WebUI (standard basic access, optional if using FIX API interface) 4.2.1 FIX Connectivity Members which have a connection in place via a Xetra Multi-Interface Channel or a Xetra Dublin Multi Interface Channel or a Xetra Transaction Service connection can additionally apply for ISE OBOE Trade Reporting FIX Sessions and use supported FIX Protocol to post messages for the ISE OBOE Trade Reporting. Leased Line Connectivity No new additional leased line connectivity is necessary for the ISE OBOE Trade Reporting connection. The Xetra Transaction Service channel or Xetra Dublin Transaction Service channel are available for the connectivity. Environment Connection option IP addresses IP subnets Ports Protocol Simu Leased line - side A Leased line - side B 193.29.88.226 193.29.88.224/28 individually assigned TCP/IP Prod Leased line side A Leased line side B 193.29.88.225 193.29.88.224/28 individually assigned TCP/IP FIX Session Members are able to order FIX Sessions for the Service ISE OBOE Trade Reporting FIX via the existing FIX Session order process using the Member Section. To start the ordering process for ISE OBOE Trade Reporting FIX Sessions, an active Reporting Member ID is required. The FIX Session ordering is initiated via a new request: ISE OBOE Release 1.0 Page 10 of 17
If a service provider is hosting the session, the member must enter the respective service provider ID in the Provider field (e.g. ABCIP). If not, please leave blank. In the next step, session related information needs to be defined: Environment (Simulation / Production) FIX Version (FIX 4.2 / FIX 4.4) GUI Drop Copy (Y / N), Y determines that the FIX session will receive all OBOE transactions generated as drop copies from the related GUI users of the members owning this particular FIX session Reporting Trades Allowed (Y / N) Number of Sessions 1 10 for Production and Simulation The Session Market Type is pre-filled with ISE OBOE TRADE REPORTING and the Market with the selected FIX Session market. The session name is derived based on this information: <Business Partner Number>- OBOE_ENGINE-T-<ENV>-NNN Example: 1064859-OBOE_ENGINE-T-PROD-001 ISE OBOE Release 1.0 Page 11 of 17
In the next step, the customer sub-nets installation have to be selected. As for trading related FIX sessions, 4 subnets are possible as maximum configuration option. Here, only those installations are provided which contain an active connection for the Xetra Transaction Service or Xetra Dublin Transaction Service leased line service. If a service provider for hosting had been selected before, the possible installations are listed here. In the request overview all entered data is reflected allowing the new request to be added into the request basket with according request ID. In the request basket, the session request can be approved and the session will be automatically created in the Installed Base Management and transferred to the FIX Gateway, analogous to the current processing of ISE T7 FIX Sessions. In addition, the password for the FIX Session is created and provided to the current user. Please note down the password, as this is the only time it is being displayed. Note: We suggest to change the password after it is received and also in regular intervals for security reasons. The password of a FIX session can be changed via FIX, using the Logon message (for more details see the ISE OBOE - FIX Gateway Specification). The minimum requirements for new passwords are as follows: Minimum password length: 8 characters Minimum number of numerical characters: 1 Minimum number of alphanumerical characters: 1 Minimum number of uppercase characters: 1 Minimum number of lowercase characters: 1 Note that a history of 10 passwords are being maintained to avoid reusing old passwords. ISE OBOE Release 1.0 Page 12 of 17
4.2.2 WebUI Connectivity Each user (or Central Coordinator for each user) must request/generate a certificate and download it to their own browser. The certificate request is supported in the same form in the Member Section as the user role assignment (introduced in chapter 4.1.3): <Member Section> => <Regulatory Reporting Hub Administration> => <Overview> => (Environment selection: Production vs Simulation) => (user selection) => <Create Certificate>. It is possible for the Central Coordinator to create and download the certificates for their traders. After the certificate has been created and downloaded to the browser, the WebUI can be accessed and used by navigating to the following URL: Production: https://www.ise-oboetradereporting.com Simulation: https://simu.ise-oboetradereporting.com The WebUI interface supports users with the following checks: Validation for the input: consists of format checks for individual field values as well as syntax checks for completeness and correctness of input. Checks for mandatory fields The WebUI interface also supports the following features: Alerts the user in case any error occurred during calculation of deferrals or publishing of the data Reports providing an overview of trade information delivered and detailed fulfillment status. When accessing the system, the dashboard opens as the homepage. It provides a general overview of the currently selected reporting and enables the user to navigate through the various functions of the system. ISE OBOE Release 1.0 Page 13 of 17
In general, the dashboard serves as an overview of all operative data and shows the following areas: Status messages received today (Trade messages status & deferral result overview, Ring chart, showing the proportion of valid entries, warnings and errors of all received messages for the day) Deferrals assigned to trade (Trade messages status & deferral result overview, Ring chart, showing the proportion of different deferral states of all received trades for the day) Messages, warnings, errors over time (Temporal distribution view, line chart, showing the number of trades received and the number of warnings and errors over the trading day). ISE OBOE Release 1.0 Page 14 of 17
5 Report TC815 Report TC815 is provided every day on the Common Report Engine. Members that wish to receive their reports via the Common Report Engine need to set up a user in the Member Portal. Details on accessing the Common Report Engine are described in the Common Report Engine User Guide. 5.1 Report naming conventions Field Meaning Remark [0-9]{2} Environment ID 10 Prod, 16 Simu 2 numerics [0-9A-Z]{8} Report name i.e. RPTTC815 8 alphanumerics [0-9A-Z]{5} Member ID i.e. GDBRH 5 alphanumerics [0-9]{8} Business date YYYYMMDD 8 numerics [A-Z]{4} Exchange ID XDUB [A-Z]{4} System ID OBOE \. Full Stop [A-Z]{3}\.ZIP Extension for compressed reports XML.ZIP Example TC815 report: 16RPTTC815GDBRH20171204XDUBOBOE.XML.ZIP 5.2 Report layout TC815 Daily MiFID OTC Trade Reporting Description: This report contains an inventory of all MiFID OTC trade reports of a member that occurred on the current business day. It shows all entered, amended and cancelled MiFID reporting trades. Frequency: Availability: Format: Filename: Daily according to the trading calendar of ISE. Generation time is 20:00 Irish time This report is generated for each member. It is available as XML report. (EnvNo: N2)RPTTC815(MemberID: A5)(BusinessDate: A8)XDUBOBOE.XML.ZIP Backup: Reports will be stored for 10 years. ISE OBOE Release 1.0 Page 15 of 17
XML Report Structure M/O Format tc815 rpthdr exchnam m A6 exchxmicid o A4 envtext m A1 rptcod m A5 rptnam m A53 rptflexkey o A14 membid o A5 memblei o A20 memblglnam o A40 rptprnteffdat m A10 rptprntefftim o A13 rptprntrundat m A10 tc815grp, repeated 0... variable times: tc815keygrp memberid m A5 memberlei m A20 tc815grp1, repeated 1... variable times: tc815keygrp1 isincod 1 A12 tc815rec, repeated 1... variable times: lasttradedatetime m A23 distributiontimeentry m A23 distributiondatetime o A23 counterpartytype m A1: N,D counterparty m A20 executinglei m A20 userid m A40 transidcode m N52 clientreference o A100 buysellind m A1: B,S lastqty m N15 lasttradeprice m N14 currency m A3 executionvenueid m A11 traderpttranstype m A1: E,C,A nodefflg o A1: Y actxflg o A1: Y bencflg o A1: Y sdivflg o A1: Y lisflg o A1: Y nliqflg o A1: Y oilqflg o A1: Y pricflg o A1: Y otflg o A1: Y dealflg o A1: Y aotcflg o A1: Y tradeflg1 o A2 tradeflg2 o A2 tradeflg3 o A2 tradingrefprice o A15 publicationind o A1 statustype o A2 statustext o A1330 ISE OBOE Release 1.0 Page 16 of 17
6 Communication Members will be informed about current Simulation activities via an e-mail from the ISE to the ISE OBOE Notices group, including upcoming changes in the Simulation environment, or unexpected events like downtimes or hotfix installations. For technical questions regarding the ISE OBOE System, please contact: Customer Technical Support Please use your individual VIP Number E-mail: CTS@deutsche-boerse.com Monday Friday: 07.00 17.00 (Irish time) For functional questions related with ISE OBOE please contact the ISE: ISE Traded Markets Infrastructure Tel: +353 1 6174 200 E-mail: iset7@ise.ie Monday Friday: 09.00 17.30 (Irish time) For on behalf trade report entry, please contact: Market Supervision Monday Friday: 06.30 17:15 (Irish Time) Tel: + 49 (0) 69 2111 1122 E-mail: OBOE.ISE@deutsche-boerse.com ISE OBOE Release 1.0 Page 17 of 17