To help all Direct Edge members meet their mandated recertification of their preferred order-entry protocols for its EDGA and EDGX exchanges, BATS Global Markets has announced four weekends when firms will be able to test their systems with the new matching engine platforms that power the BZX and BYX exchanges.
The dates – 11 October, 15 November, 13 December and 10 January – are in conjunction with the weekday testing opportunities that the exchange operator plans throughout the fourth quarter.
During the testing opportunities, members will be able to trade on the new platforms using test symbols, which BATS has not yet determined. BATS will provide further details as the testing dates draw closer, according to an official.
The tests will take place in the BATS’ new facility located in Equinix’s NY5 data centre in Secaucus, New Jersey.
In the meantime, members will be able to perform basic connectivity tests to the new platforms starting on June 30. Beginning 4 August, members can start using production logical ports to test ‘heartbeat’ and other functions. On 2 September, members can start basic connectivity tests with EDGA and EDGX’s disaster recovery site in Savvis’ CH4 Chicago data centre.
BATS will also provide members a chance to participate in the upcoming industry-wide business continuity test hosted by the Securities and Financial Markets Association using the new exchange platforms. The Direct Edge portion of the 25 October test will take place at its disaster recovery site.
According to exchange officials, the platform migrations should be completed in January 2015, which will be a year since BATS closed the deal to acquire Direct Edge and formed an exchange business hosting approximately a quarter of all US cash equity liquidity.