LME Gateway

7.18.25.7

Released: Nov 10, 2017 File Size: 0
Package Contents:
No notes available.

Important Notes

LME Gateway 7.18.25 is released to support the LMESelect 9.2 upgrade on November 13, 2017.

NOTE: Per the LME, all GTC orders active in the market on November 10 will not be saved and Members must enter new GTC orders on LMEselect 9.2 on November 13. TT recommends that customers delete all working orders prior to the market close on November 10.

Why Should I Upgrade?

LME Gateway 7.18.25 is released to support the LMESelect 9.2 upgrade on November 13, 2017. Customers must upgrade all LME Gateways after the close on Friday, November 10th and prior to the market open on Monday, November 13.

In addition, LME Gateway 7.18.25 supports MiFID II Compliance. For details on Customer Defaults, Algo Defaults and MiFID related updates; please refer to X_TRADER® Support for MiFID II.

NOTE: Per the LME, all GTC orders active in the market on November 10 will not be saved and Members must enter new GTC orders on LMEselect 9.2 on November 13. TT recommends that customers delete all working orders prior to the market close on November 10.

System Requirements

LME Gateway 7.18.25 is released to support the LMESelect 9.2 upgrade on November 13, 2017. Customers must upgrade all LME Gateways after the close on Friday, November 10th and prior to the market open on Monday, November 13.

In addition, LME Gateway 7.18.25 supports MiFID II Compliance. For details on Customer Defaults, Algo Defaults and MiFID related updates; please refer to X_TRADER® Support for MiFID II.

NOTE: Per the LME, all GTC orders active in the market on November 10 will not be saved and Members must enter new GTC orders on LMEselect 9.2 on November 13. TT recommends that customers delete all working orders prior to the market close on November 10.

Installation Notes

Values required when submitting orders to LME as of the Select 9.2 upgrade, as well as for MiFID II compliance, may now be set in Customer Defaults using X_TRADER® 7.17.80 and TT User Setup 7.17.84. For details on configuring the appropriate values in Customer Defaults, please refer to X_TRADER® Support for MiFID II.

Note that the following values must be specified in Customer Defaults when submitting orders on LME:

Base Products:
  • Account Type: A2
  • DEA
  • Trading Capacity
  • Commodity Derivative Indicator
  • Execution Decision
  • ClientID (Short Code, integer)

Precious Products:
  • Account Type: A1, A2 or A3
  • DEA
  • Trading Capacity
  • Commodity Derivative Indicator
  • ClientID (Short Code, integer)
  • Execution Decision
  • FFT5 = Decision Maker (Short Code, integer - configured when Account Type is A1 or A3)
  • FFT4 = LME ClientID (Alphanumeric - configured when Account Type is A1 or A3)
  • Client Country: GB
    • This value may be configured on a per order session basis in the hostinfo.cfg when all users on a session are located in the same country using the following parameter: ClientBranchCountry=
    • If users on a session are in multiple countries, this may also be configured in the FFT4 field along with the LME Client ID and separated by a pipe (|). For example: ABC123|GB
  • FFT2 = Customer Account
    • This value was formerly configured in the hostinfo.cfg file may now be set in the FFT2 field in Customer Defaults. This value is required only when Account Type is A1 or A3 (LME Precious).

Full details on required fields by exchange may be found here.

IMPORTANT NOTE: Because many customers will not yet have client applications upgraded to support configuration of the MiFID II fields, we have implemented a parameter which will send default values for these required tags. To turn this feature on, the following section and parameter should be added to the LME*flavor*hostinfo.cfg:

[OrderServer]
UseDefaultMiFID=1

When the UseDefaultMIFID parameter is set to 1, the following values will be submitted on orders:

Base Products:
  • DEA: True
  • Trading Capacity: DEAL
  • Commodity Derivative Indicator: True
  • Execution Decision: 1234
  • ClientID: 1234
Precious Products:
  • DEA: True
  • Trading Capacity: DEAL
  • Commodity Derivative Indicator: True
  • Execution Decision: 1234
  • ClientID: 1234
  • Decision Maker: 1234
  • LME ClientID: abc
  • Client Country: GB
  • Customer Account: 333

The following parameters which were previously in use should be removed from the LMEhostinfo.cfg file as they are no longer used:
InvestmentDecisionCountry=
ExecutionDecisionCountry=
DEA=
TradingCapacity=
ClientID=
CustomerAccount=
InvestmentDecisionWithinFirm=
ExecutionDecisionWithinFirm=
AlgoOrHumanDetail=

NOTE: TT recommends backing up the hostinfo.cfg file prior to upgrade, in the event the exchange elects to roll back to Select 9.1 prior to Monday, November 13. Should this occur, customers must uninstall LME 7.18.25 and reinstall LME 7.18.10.

Enhancements

    1. Added logging to indicate when Floor Closing prices are received (Ref 233738)

  1. Gateway
    1. Support new tags introduced for MiFID II (Ref 233384)

Fixes

  1. Order Server
    1. Resolved a Stop Order issue where, when triggered, Stop orders were not updated to the Order price, but remained at the trigger price (Ref 234255)

Known Issues