Background

• 24 Exchange acquired 11B Technologies in 2021. While 24 Exchange phased out most of the "11B" references in their API, ExecID remained unchanged until this update to adhere ISDA [International SWAPs and Derivatives Association] best practices for Unique Trade Identifier.

Affected Venues

• exchange24
  

Change

ExecID

The format of ExecID field published in ExecutionReport is updated. 

Details of the different components that form an ExecID before and after the change:

• Old Format - ExecID is formed of 11B [a 24Exchange entity], TradeID, TimeStamp, and Side separated by a colon. For eg: 11B:1234567890123456789:12345:B
• New Format - ExecID will comprise exchange24LEI [10 characters], and a unique trade reference identifier with no special characters or delimiters [up to 25 characters]. For eg: YXBUZH7G3N123456789012345678912345B

Timeline

• 07th September - UAT -
  • Updated ExecID change is available in UAT environment.
• ?? 18th September - UAT -
  • MarketFactory release of 2023.XX09.XX18.WE to publish the updated ExecID and ExecutingFirmLEI PartyRole in ExecutionReport.
  ?? September - Production -
  • MarketFactory release of 2023.XX.XX.WE to production.

• 02nd October - Production -
  
  • 24 Exchange will roll out the updated ExecID change to production.