Equity Market Trading and Clearing System Schedule Update

An updated version of Moscow Exchange's ASTS equity market trading and clearing system is to come online on 31 March 2014.

Testing with the involvement of trading participants will take place on 29 March. The system will be available for connection at approximately 12:00 pm MSK.

To participate in the testing, participants should send their firm ID and contact details to help@moex.com. FAST feeds will be available to all current subscribers via the updated version. 
Participants not planning to participate should disconnect external systems during the testing period to avoid receiving test data.

This update is technical in nature and does not affect current market functionality nor require any mandatory changes on client side.

New to this version:

1. A new version of the ASTS Bridge broker interface - IFCBroker_22.

2. Order amend transaction.

3. Technical ability to support the "Basket repo with the Central Bank of Russia and Collateral management by NSD" project.

4. The last trade price will include the closing auction price.

5. Changes to the schedule of automatic cancellation of active orders:

• All active orders on main trading boards (order driven T0 and T+, as well as odd lots) will be cancelled at 18:50 MSK. Before 31 March 2014, the cancellation time is 7:00 pm MSK.
• All active orders on the anonymous order driven repo with CCP market will be cancelled at 4:00 pm MSK.
• All other active orders (negotiated deal orders, repo, negotiated deals with the CCP, and quote driven repo with the CCP) will be cancelled at the end of the trading session (7:00 pm MSK).

6. Technical ability to support the new 'price support' (stabilisation) order type.

7. Expanded data for market makers.

8. Modifications to interdealer and 'dealer—Bank of Russia' repo, including changes to end of day XML reports:

• New fields in the SEM25 margin call report (current margin deficit, allowed revaluation level).
• New field in the notification on amendment of repo trade parameters (income value to be transferred off the exchange).
• A report with the outstanding liabilities recalculation is available in hard copy upon request by a counterparty that has not breached or failed fully to fulfill its obligations as per the second part of the repo trade.

9. Order cancellation by client code.

• Extended list of error messages that may be received after an order cancellation attempt using the new broker interface version (also applicable to order amendment transactions).
• Error message codes: 
  • (915) Can't withdraw order. The order already matched.
  • (916) Can't withdraw order. The specified order is not active. Current status is <OrderStatus>

10. New set of tables with positions and risk parameters has been added to the broker interface as part of the unification of equity and FX market risk management systems.

11. New function to establish custom risk parameters.

12. Public order ID in FAST feed is now available in ASTS Bridge and MFIX Transactional.

13. ASTS Bridge updated to version 4.2.3. MICEX Trade SE trade terminal updated to version 3.10.

14. Updates to MFIX Transactional and FAST UDP Multicast market data services. 

Updates to closing auction technology (acceptance of market orders during the phase of trading at the closing auction price; market orders entered with the "to the closing auction period" flag during the pre-trading and normal trading periods; and market orders entered during the closing auction with order quantity in number of lots) are to be launched on 14 April 2014.

Please contact us at help@moex.com, +7 (495) 733 9507 for more information.

For further information, please contact the Public Relations Department at (495) 363-3232.