The Q4 2017 Exchange Release

27th July 2017

Cboe announced the Q4 2017 Exchange Release effective 27th October 2017. This release represents the fourth major release related to MiFID II compliance. These changes constitute further functional changes to real-time protocols and reference files for 2017, which are considered mandatory for MiFIR and MiFID II (collectively "MiFID II") compliance and MMT v3.04 adherence.

Cboe’s MiFID II implementation milestones can be found here. Participants are advised to check this resource regularly for Cboe’s upcoming MiFID II milestones.

Summary of Changes

Along with the key changes listed below, a Q4 2017 Guidance Note has been published with detailed changes:
  • Removal of MTFAccessFee from FIX
  • Support for Pending price “PNDG” functionality on TRF per RTS 1.
  • MMT v3.04 support of latest additions to MMT standard.
  • Addition of a Venue Cap Percentage column to Symbol Reference Files.
  • Deferred publication of transactions on-exchange (BXE/CXE) must have ‘DEAL’ capacity.
  • MiFID II Iceberg Behaviour changes.
  • Introduction of the Firm Order Record Keeping service.

Availability in UAT & Production

All features described in the release will be available in Production environments on Friday, 27th October 2017 and in Certification environments according to the below schedule:
Environment Q4 Release Availability
BXE UAT Monday 25th September
CXE UAT Monday 9th October
TRF UAT Monday 25th September
MTFAccessFee will be deprecated and removed according to the below schedule:
Environment MTFAccessFee value set to ‘0’ MTFAccessFee field removed FeeCode availability
BXE and CXE UAT Monday 28th August Monday 25th September Now
TRF UAT - - Now
BXE and CXE Production Friday 1st September Friday 27th October Now
TRF Production - - Now

Firm Order Record Keeping will be available in certification on Monday, 25th September 2017 and production on Friday, 27th October 2017.

Documentation

The MiFID II Documentation Library contains the guidance note and specifications for the release.