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Monday, August 14, 2017

UTP Vendor Alert #2017 - 7
LULD Auction Collar Production Launch Announced

Markets Impacted:

Products Impacted:

Contact Information:

What you need to know:

  • Update 10/03/2017: As a result of the SIAC binary delay, the LULD committee has agreed to postpone the LULD Auction Collar implementation by one week. The new LULD Auction Collar implementation date and testing dates are reflected below.
  • As announced in UTP Vendor Alert 2017-02, The Limit Up / Limit Down (LULD) committee is proposing enhancements to the automated reopening process following a LULD Pause, refer to the LULD Plan.
    • Trading Pause will continue until the Primary Listing Exchange has reopened trading
    • Eliminate the current 10 minute restriction
    • Prior to resuming trading there must be published Price Bands
    • Primary Listing Exchange will convey reopening information via new Auction Collar message
  • Revised Implementation is scheduled for Monday, November 20, 2017.
  • In preparation for this release the UTP SIP will participate in two weekend production tests:
    • Saturday, October 28, 2017; and
    • Saturday, November 18, 2017, confidence test

Overview:

As announced in UTP Vendor Alert 2017-02, The Limit Up / Limit Down (LULD) committee is proposing enhancements to the automated reopening process following a LULD Pause, providing that a Trading Pause will continue until the Primary Listing Exchange has reopened trading using its established reopening procedures and reports Reopening Price.

Primary Listing Exchange will convey reopening information via new Auction Collar message. This new message will be generated by the Listing Exchange and disseminated via the UTP Data Services as pass-through processing.

When will the new Auction Collar message be implemented?

As a result of the SIAC binary delay, the LULD committee has agreed to postpone the LULD Auction Collar implementation by one week. The new message is scheduled to be implemented Monday, November 20, 2017, pending final approval by the SEC.

Will there be testing opportunities?

As is the normal process, the UTP SIP plans to offer evening format and Saturday testing opportunities for data feed subscribers prior to release to ensure that firms can process the new Auction Collar message format.

Type of Testing Scheduled Dates Description
Saturday User Acceptance Test (UAT) Saturday UATs: October 28, 2017;
November 18, 2017		 UTP participants will be invited to enter data to test the new functionality. As it is generated, the UTP SIP will disseminate the new test data via the “UTP Data Services”.
Nightly Test Replay July 10, 2017 through go-live Nightly test replays of the new UTP Data Services (binary) is available on the production multicast groups on weeknights from 9:00 PM - 10:30 PM
Production Launch Production Launch Monday, November 20, 2017 Production implementation of the new data services is Monday, November 20, 2017 pending final approval from the SEC.

Who should I contact for additional information?