LME Gateway

7.18.26.7

Released: Dec 20, 2017 File Size: 0
Package Contents:
No notes available.

Important Notes

LME Gateway 7.18.26 is released to resolve issues encountered in the field as well as to enhance support for MiFID II.

Why Should I Upgrade?

LME Gateway 7.18.26 supports MiFID II Compliance. For details on Customer Defaults and Algo Defaults as well as MiFID related updates, please refer to X_TRADER® Support for MiFID II.

This release also introduces support for Duplicate Order Check functionality, which may be enabled via TT User Setup. When enabled, This check triggers an order rejection for an order with the same instrument and price as another order submitted on the same account/account group that has exceeded the configurable threshold of duplicate orders allowed over a rolling window of 1 second. Additional details on this functionality may be found Here.

System Requirements

LME Gateway 7.18.26 supports MiFID II Compliance. For details on Customer Defaults and Algo Defaults as well as MiFID related updates, please refer to X_TRADER® Support for MiFID II.

This release also introduces support for Duplicate Order Check functionality, which may be enabled via TT User Setup. When enabled, This check triggers an order rejection for an order with the same instrument and price as another order submitted on the same account/account group that has exceeded the configurable threshold of duplicate orders allowed over a rolling window of 1 second. Additional details on this functionality may be found Here.

Installation Notes

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

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

Note that this parameter should be removed prior to start of trading on January 3 so that MiFID II values configured by the customer will be sent. 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

Enhancements

  1. Order Server
    1. Added support for duplicate order rejection. User Setup administrators can now prevent more than a specified number of duplicate orders from being executed within a single rolling second, on a specified Gateway flavor. (Ref 234083)

    2. Enhanced the Order Server so that MiFID values submitted by the client on Change or Cancel/Replace orders will be more accurately reflected in the Execution Report when these values are not supported by the exchange for these order types (Ref 234310)

  2. Price Server
    1. MIC code will now be populated as XLME (Ref 234412)

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)

    2. Resolved an issue which resulted in the erroneous display of the following error in the Order Server log: "No pending order matches order reject message" (Ref 234263)

    3. Resolved an Order Server crash (Ref 234318)

    4. Exchange Tag 60 is now reflected on Execution Reports (Ref 234387)

    5. Resolved an issue where Client ID was set to 0 when not populated by the client (Ref 234500)

Known Issues