Background

• EBS is Extending Conditional Price Increments (CPI) functionality to support Taiwan Dollar(USD/TWD) 1M SEF/MTF NDF (On and OFF SEF) instruments. Please see original CPI notification page (AUD/USD, EUR/USD).

Affected Venues

• ebs_market_mdp3_sbe
  
• ebs_market_mdp3_sbe_udp
• ebs_market_ilink3_sbe

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.

Timeline

• 4th August 2024 - UAT - EBS will make this available for testing in UAT. 

• 25th August 2024 - Prod - EBS will go live with Conditional Price Increments for Taiwan Dollar (USD/TWD) 1M SEF/MTF NDF (On and OFF SEF).

Whisperer clients will receive the new Conditional Price Increment fields in the SecurityStatus messages for Taiwan Dollar (USD/TWD) 1M SEF/MTF NDF (On and OFF SEF).

Client will be able to place sub-pip price orders for eligible instruments.

Clients will start to receive new Reject text in ExecutionReport for orders rejected due to Conditional Price Increments.

No software upgrade required for this change. Please MarketFactory Delivery Team if you have any further questions.