Background

24 Exchange

• 24X acquired 11B Technologies in 2021. While

24 Exchange

• 24X phased out most of the "11B" references in their API, ExecID remained unchanged until this update, introduced to adhere to ISDA

[International SWAPs and Derivatives Association]

• best practices for Unique Trade

Identifier

• Identifiers (UTIs).

Affected Venues

• exchange24
  

Change

The format of 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:
• colon-separated components -  i.e. 31 characters in total. e.g. 11B:1234567890123456789:12345:B
• New Format - ExecID will comprise exchange24LEI [10 characters], be composed of a 10 character portion of 24X's LEI and a unique trade reference identifier with no special characters or delimiters [ up to 25 characters ]. For eg: YXBUZH7G3N123456789012345678912345Bin length, followed by a side indicator - i.e. 36 characters in total. e.g. YXBUZH7G3N123456789012345678912345B

Timeline

• 07th September - UAT -
• Updated ExecID
 change is available in
• change made available on 24X's UAT environment.
• 18th September - UAT -
MarketFactory release of
•  Whisperer 2023.09.18.WE released, parsing the ExecutionReport ExecID to also publish the
updated ExecID and
• ExecutingFirmLEI PartyRole
in ExecutionReport
• .
02nd
• 30th October - 
Production -
24 Exchange will roll out
• PROD - 24X implement the updated ExecID change
to
• in production.
  
• 17th November - PROD - As of release 2023.11.17.WE, Whisperer will no longer publish PartyRole ExecutingFirmLEI in ExecutionReport, reverting the change from 18 September, due to 24X supplying only a portion of their LEI.
  

Clients should ensure their downstream systems can handle the ExecID format change and client's API can process the changes, documented in Change Details section of this page.
Clients are advised to contact the MarketFactory Delivery Team to ensure that they are upgraded to 2023.09.18.WE version or later before the 02nd October, as per the timeline aboveMarketFactory reverted the change to parse LEI from ExecID field in release 2023.11.17.WE.