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Comment: Published by Scroll Versions from this space and version 1.4.48

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Warning
titleMandatory Change

Background

  • To enhance liquidity and market data quality, EBS will introduce the is introducing Conditional Price Increments feature to a selected few (CPI) functionality for selected Spot instruments.

  • CPI will allow the submission of orders with sub-pip prices when trading the eligible Spot instruments - FXSPOT.AUD/USD and FXSPOT.EUR/USD.
  • Refer here for detailed EBS documentation as to how this operates.

Affected Venues

Change

  • In addition to the current Standard Globex Minimum Tick for EBS Market products, EBS will publish an "Alternate Globex Minimum Tick".
  • Orders that use the Alternate Globex Minimum Tick will be subject to a different Minimum Quote Life [ (MQL] ) value compared to the Standard Globex Minimum Tick.
  • Price Discretion orders [(PD orders that rest at a limit price but would accept fills at another price to improve matching opportunity] ) will support Alternate Globex Minimum Tick values on the DiscretionPrice field to interact with other sub-pip price orders.
  • New iLink3 Reject Codes and Reject Text for orders rejected due to Conditional Price Increments.

Timeline

  • 23rd October 2023 - New Release - The new CPI for products subject to this change will be available for customer testing in New Release.
  • 22nd November 2023 - UAT- MarketFactory changes to support CPI will be rolled out to UAT.
  • 07th January 2024 - Prod - EBS will go live with Conditional Price Increments for product "FXSPOT.AUD/USD".
  • 24th February March 2024 - Prod - EBS will go live with Conditional Price Increments for product "FXSPOT.EUR/USD".

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