Frequently Asked Questions
ASX has created the FAQ document to allow customers to reference common questions and their relevant responses as raised regarding the New Trading Platform (NTP). The document will be updated regularly and customer are encouraged to use it as a source of information when developing or troubleshooting. ASX Compliance has also created an FAQ document with relevant ASX 24 Operating Rule references.
If you have any questions regarding the information contained in the FAQ document please contact ASX Customer Technical Support firstname.lastname@example.org or your Technical Account Manager
Why is ASX replacing its trading platforms?
ASX is replacing its current pair of matching engines with a single, state-of-the art new trading platform that offers global standard interface protocols such as FIX, ITCH and OUCH. This will enable ASX to create more flexible exchange infrastructure and deliver greater innovation to Australia’s Financial Markets.
The new platform is being developed by the Swedish company Cinnober Financial Technology (CFT).
Who is CFT and why were they chosen?
CFT is a world leading independent provider of trading platforms, clearing systems and market data dissemination technology to marketplaces and clearing houses. CFT has a proven track record in providing advanced technology solutions that are built to meet the needs of high transaction marketplaces with extreme performance requirements. Currently CFT have customers in the US, Europe, Brazil and South Africa. For more information, see www.cinnober.com.
Trading Platform Changes
What is going to change?
Currently the new trading platform is being developed based on the following principles:
• Simplifying customer connectivity using standardised protocols
• Minimising changes to trading functionality
• Minimising changes to fee structure and total fees
• Minimising customer operational changes.
Customers will be kept fully aware of any changes by their Technical Account Manager and Business Relationship Manager.
Will the current trading platforms be locked down from new development and enhancements?
ASX will only implement a change if absolutely necessary or required from a regulatory perspective.
Will there be any changes to product session times?
There are no proposed changes.
Will there be any changes to order types?
Currently ASX is reviewing existing order types in ASX Trade24 and ASX Trade with a view to making the order types more consistent across the markets and products.
Market Technology Interface Protocols
What protocols will be supported?
The new trading platform will use implementations of FIX (v5) and OUCH for order management, and FIX and ITCH for market data.
What market data protocols will be supported?
FIX (v5) and ITCH protocol feeds will be supported.
Will there be any differences in data content between FIX and ITCH?
Specific details on the differences in data content will be made available closer to the time when the specifications will be released.
Are customers able to receive Broker Restricted/Private Information, and if so, via which feed?
This information can be received via the FIX drop copy.
Are any other Market Data products affected?
Signal B will be discontinued in its current form and replaced by FIX drop copy.
ITC will be discontinued and can be replaced with FIX or ITCH depending on customer requirements.
How will connectivity such as gateways and networks function?
The infrastructure setup for the new trading platform will be similar to the current setup on the ASX Trade market. That is, there will be distributed gateways available at ASX Net sites. In the Australian Liquidity Centre (ALC), depending on the customer preference, there will be the option of centrally hosted gateways via a cross connect or gateways hosted in the customer space.