ITS NEWSLETTER - JANUARY 2016

 

Join us at the CSTA Vendor Fair

 

Please stop by to visit us.  ITS will be at the CSTA Vendor Fair

on Thursday, Feb. 18th, 2016 2:30-7:30 PM at the Design Exchange, Toronto.

 

IN THIS ISSUE   

 

ITS Response to Messaging Increase

New TMX Decryption Fee - Impact to ITS Customers

ITS SOR Enhancements

·         Long Life Tag Default

·         Marketplace Changes -

CXD, CX2 & CXC Migration, Omega Migration

 

 

ITS Workstation Enhancements

·         Account Positions Monintoring

·         DDE Link to Export Data

ITS TradeThrough and Admin Tools Updates

 

 

ITS Response to Messaging Increase

   

Performance Upgrades in Response to Fluctuating & Increasing Message Rates

 

Over the last 6 months, ITS has been monitoring the large overall message rate and fluctuating spikes in messaging on Canadian Marketplace feeds.      ITS feed servers and networks have recently received upgraded hardware to better handle increased messaging rates.     In addition, some performance "tweaks" have been made to ITS software that processes market feed data.     

 

 ITS will continue to monitor and perform enhancements as necessary to keep pace with the marketplaces.

 

New TMX Decryption Fee - Impact to ITS Customers

 

TMX Introduces new Decryption Key Fee

TMX provided notice on Dec. 22nd, 2015 that they had received regulatory approval to modify their market data feed pricing model effective Jan. 1st, 2016.    This new pricing model included a new fee for vendors who require a participating organization's decryption key to read private content.   

 

This fee will be included in ITS invoices to customers when a customer's decryption key is required to reed private content from the TMX Marketplace feed for services such as compliance reports, dropcopies, and ITS OrderGuard TOB monitoring.

 

In 2015, the TMX also eliminated their query facility for multi-day open orders and so ITS currenly also requires decryption keys to read the status of multi-day open orders prior to the market opening.   ITS is working to change its software so that the decryption key is no longer required to read multi-day open orders and hopes to eliminate the decryption key fee for customers whose key is only required for this purpose.

 

ITS SOR Enhancements

 

Long Life Tag Default

Pursuant to the TMX Implementation of the Long Life Order Type, the ITS SOR has been enhanced to allow a firm to default ALL orders to include the Long Life enablement tag.    This default will apply to ALL orders from the firm being routed through the ITS Smart Order Router.  

 

Please contact ITS Operations, support@itsys.ca,  should your firm wish to enable this feature.

 

Support for Marketplace Changes

 

ITS SORs are continually being maintained to keep pace with marketplace changes.    

Changes were made to our systems in late 2015 to support the following marketplace changes:

·         Decommission of Alpha IntraSpread & TMX Select on September 18, 2015.

·         Upgrade to Alpha XA on September 21, 2015.

·         STAMP to FIX migration on TSX & TSX/V on November 30, 2015.

 

ITS TraderLite Workstation Enhancements

 

Account Positions Monitoring 

ITS Workstations will soon be upgraded to allow users to monitor their client accounts inside of their ITS Workstations.   

Users can enter account holdings in the enhanced Positions Monitoring window so that the accounts can be updated with real-time market data throughout the day.      Total Value and Volume by account is continually updated.      Users can then set up alerts using automated strategies to execute actions in the accounts based on certain market conditions.

 

DDE Link to Export Market Data

ITS Workstations will soon be upgraded to allow users to export their market data to Excel spreadsheets using a DDE link.    This enhancement is in response to a request from users who wish to monitor their accounts using Excel spreadsheets.

 

TradeThrough & Admin Tools Update

 

ITS TradeThrough Manager Access to Private Data

The ITS Trade Through Manager Tool will soon be able to read private data from all marketplaces so that users can easily get the information they need to investigate potential trade-throughs!

 

SOR Routing History Tool

ITS will soon be launching a tool to allow traders, supervisors, and compliance personnel to view the routing decisions made by the ITS SOR on any order through the ITS SOR.    Look for more details of this initiative soon!

 

 

More Information?

If you are interested in more information about anything in this newsletter, please contact ITS Operations & Support at 416-233-3961 x0 or support@itsys.ca.

Get more information by visiting ITS at the CSTA Vendor Fair

on Thursday, Feb. 18th, 2016 2:30-7:30 PM at the Design Exchange, Toronto.