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 exchange24 LEI [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 2023.09.18.WE to publish the updated ExecID and ExecutingFirmLEI PartyRole in ExecutionReport.

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

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 above.