TOM MTF Connectivity Guidelines. Revision

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TOM MTF

Connectivity

Guidelines

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TOM MTF Connectivity Guidelines

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1 CONTENTS ... 1 2 INTRODUCTION ... 2 3 TRADING ENVIRONMENT ... 2 3.1 PRODUCTION ENVIRONMENT ... 2 3.2 TEST ENVIRONMENT ... 3 3.3 PRIMARY SITE ... 4 3.4 SECONDARY SITE ... 4 4 MEET ME POINT ... 4 5 ACCESS MANAGEMENT ... 5

5.1 MANAGE YOUR CONNECTIVITY ... 5

5.2 CONNECTIVITY OPTIONS ... 5

5.3 REQUEST FOR USER ... 6

5.4 TRADING APPLICATIONS ... 7 6 PROTOCOL SUPPORT ... 8 6.1 ORDER EXECUTION ... 8 6.2 MARKET DATA... 9 6.3 PERFORMANCE ... 9 6.4 RECOMMENDED BANDWIDTH ... 9

6.5 TOM MTF MARKET DATA FLOW ... 9

6.6 ORDER EXECUTION FLOW ... 9

7 SYSTEM REDUNDANCY AND FAILOVER ... 10

7.1 SYSTEM FAILOVER PROCEDURES ... 10

7.2 OMNET ... 10

7.3 FIX ... 10

7.4 ITCH ... 10

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TOM MTF is a highly configurable platform used for both Equity and Derivatives trading. This system is provided and hosted by NASDAQ OMX (Nasdaq OMX Genium INET platform).

This document gives an overview for TOM MTF members describing the environment as well as defining the main processes for onboarding.

Needed connectivity parameters for configuration of OMnet, FIX and ITCH access sessions are included in the document.

In addition to the technical implementation procedures, members need to submit the required membership documents. After TOM MTF validates the membership application, the technical onboarding process can begin. A list of the order forms can be found on the TOM MTF website or by directly contacting TOM MTF. A list of contact information is provided on the last page in this document.

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In addition to the production environment, two test environments are available.

3.1 PRODUCTION ENVIRONME NT

TOM MTF platform for production is located in two data centers in the London area. The primary site (Site A) is located at LD4 Equinix data center in Slough and the secondary site (Site B) is located at Interxion data center in Bricklane. The system has a high availability design with complete redundancy supporting a fault tolerant solution.

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The figure below illustrates an overview for production environment and various member´s connectivity.

Client Handoff

Members connect to TOM MTF extranet chassis using Gigabit Ethernet hands-off. 10G handoff (Not Copper) is also available for collocated members in the primary site.

Members can choose Fiber (Single Mode or Multi Mode) or Copper (RJ45).

Interfaces

The following interfaces are available for Production: For Order entry : FIX and OMnet

For Market Data: ITCH and OMnet

3.2 TEST ENVIRONMENT

There are two test systems located at the primary site. Members are able to use test systems for functional tests and training. Please contact TOM MTF to get detailed information how to use the test systems.

Client Handoff

Members connect to TOM MTF test systems extranet chassis using Gigabit Ethernet handoff. 10G handoff (Not Copper) is also available for collocated members in primary site.

Members can choose Fiber (Single Mode or Multi Mode) or Copper (RJ45).

Interfaces

The following interfaces are available for Production: For Order entry : FIX and OMnet

For Market Data: ITCH and OMnet

Extranet Provider netwok ` Client ` Client

Primary site Equinix Slough Secondary site Interxion Bricklane

FIX Equinix Collocated Customers ` Client ` Client

OMnet OMnet FIX

Backend Backend ITCH & Re-req. ITCH & Re-req. Access via Direct Connect or/and Extranet

Direct Connect Connect via Extranet Provider Direct Connect Connect via Extranet provider Cross connect

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3.3 PRIMARY SITE

TOM MTF primary site, Equinix LD4 data center.

ADDRESS:

2 Buckingham Avenue Slough Trading Estate Slough

Berkshire SL1 4NB

3.4 SECONDARY SITE

TOM MTF secondary site, Interxion LON1 data center.

ADDRESS:

11 Hanbury Street London

E1 6QR

No client traffic is carried by TOM MTF between the primary and secondary sites in any scenario (including DR).

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Access to the TOM MTF is provided through a physical port inside the Meet Me Point within each site. The demarcation point where TOM MTF´s responsibility ends is the Meet Me Point panel in the Meet Me area.

Customers have the responsibility to establish external connections from their site to the respective Meet Me Point or cross-connecting to the Meet Me Point if they are collocated. Please contact TOM MTF to get the detailed specification for the Meet Me Points in each data center.

TOM MTF has the responsibility to complete the

connectivity between the Meet Me Point and TOM MTF ´s production and/or test environments. The figure on the right explains the various connectivity accesses, members´ responsibility and the demarcation point.

TOM

Production and Test environments

Meet Me Point

C) Members connecting via Extranet Provider

B) Direct Connected Members Extranet Provider

Member´s responsibility

A) Members collocated whitn data center Member´s resonsiblity

Extranet Provider’s responsibility TOM´s resonsiblity

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The following steps help you to walk through the required technical setup to complete your connectivity to the TOM MTF platform.

5.1 MANAGE YOUR CONNECTIVITY

5.2 CONNECTIVITY OPTIONS

Access to TOM MTF can be obtained through a variety of different connectivity options outlined below. Please see the figure above, on page 5.

If necessary, TOM MTF will schedule a technical teleconference meeting together with you to go through your connectivity requirement and set-up.

A) Members collocated within the data center

If you are a collocated customer at the primary site, you need to order the cross connect from your equipment to the Meet Me Point directly from your Equinix account manager.

The following steps needs to be completed:

1. Specify your preferred media (SM, MM or Rj45) and also the capacity of the port if you are a collocated Equinix customer (1G or 10G port).

2. Member will receive the Meet Me Point port specification from TOM MTF.

3. Contact Equinix to order the cross-connect from your equipment to the Meet Me Point. 4. Inform TOM when your cross-connect to the Meet Me Point is completed by the data center. 5. TOM MTF will assist you to complete your connectivity from the Meet Me Point to the TOM

MTF platform.

To access to the secondary site you need to order a direct connect or connectivity through an extranet provider. Please see option B or C below.

Collocated customers at the secondary site need to utilize option B or C below.

B) Direct Connect (Leased Lines)

Connectivity option from outside the data center. The following steps needs to be completed:

1. Specify your preferred media (SM, MM or Rj45) and also the capacity of the port if you are a collocated Equinix customer (1G or 10G port).

2. Member will receive the Meet Me Point port specification from TOM MTF.

3. You need to contact your preferred carrier to order the cross connect from your site to the Meet Me Point at the respective data center.

4. Inform TOM MTF when your cross-connect to the Meet Me Point is completed by the carrier. 5. TOM will assist you to complete your connectivity from the Meet Me Point to the TOM MTF

platform.

There is a variety of carriers available in the data centers. Please contact TOM MTF or your account manager at the respective data center to get assistance.

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C) Extranet (Managed Financial Service Extranets)

Connectivity option from outside the data center

TOM MTF can be accessed via a number of extranet provider’s networks. Available extranet providers also deliver VPN over the Internet

Please complete the following steps:

1. You need to contact an extranet provider to order the connectivity to the TOM MTF. 2. Please contact TOM MTF to inform about your preferable extranet provider. 3. TOM MTF will assist you to complete your connectivity to the platform.

There is a variety of extranet provider available in the data centers. Please contact TOM MTF or your account manager at the respective extranet provider site to get assistance.

5.3 REQUEST FOR USER

User fees TOM MTF

To connect to the London setup of TOM MTF there will be fees applicable to all participants, which fees are competitive when compared to other venues. Introducing this reasonable charge for each set of users is a means to allocating infrastructure costs on a pro-rata usage basis to each participant.

Market makers will receive a 50% discount for the costs charged for all users above first 10 users when they are a committed Market Maker in more than 10 option classes on TOM MTF.

Example 1: Regular Member having 30 Premium users will pay EUR 500 for up to 10 Premium users, and EUR 250 for the next 10 users and EUR 125 for the last 10 users (total EUR 500 + 250 + 125) Example 2: Market Maker in 15 classes having 30 Premium users will pay EUR 500 for up to 10 Premium users, and EUR 125 for the next 10 users and EUR 62.50 for the last 10 users (total EUR 500 + 125 + 62.5)

Monthly fees will not be charged in 2013 for any firm/data vendor that is connected to TOM MTF before 6 May 2013 in the new London setup.

Market Data Vendors

User fees for up to 10 Standard market data users EUR 1000 per month User fees for up to 10 Premium market data users EUR 2000 per month

In 2013 a 50% reduction to monthly fees will be applicable for market data vendors

Setup fees for members and market data vendors

Standard: EUR 500

Premium: EUR 1500

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Setup fees will not be charged for any firm/data vendor that is connected to TOM MTF before 6 May 2013 in the new London setup.

Other

ITCH Multicast: free

Connecting to TOM test environment is free

If using FIX, you need to order for FIX ports (i.e. TCP ports for the FIX sessions). Please contact TOM MTF to get the required order form. For port ranges please contact TOM MTF.

5.4 TRADING APPLICATIONS

Once you have the connectivity in place you can get access to the TOM MTF platform through a variety of trading application options outlined below.

Initially the only access provided will be to the test environments. Please contact TOM MTF to get the test environment details.

Any certified application from an ISV can be used for trading. A complete list of ISV-certified trading applications is available on the TOM MTF website.

You may also choose to develop your own trading software, subject to final approval via conformance testing by TOM MTF.

The GENIUM INET Trading Workstation application by NASDAQ OMX is available for direct access to the TOM MTF Platform. Please contact TOM MTF for more information.

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In order for the member to determine the most suitable order execution and market data protocol, please review the protocol specifications.

Available on TOM MTF website:

OMnet MessRef Intro TOM.pdf: OMnet message reference introduction; OMnet MessRef TOM.pdf: OMnet message reference;

GeniumITCH Protspec TOM.pdf : Genium INET ITCH protocol specification; GeniumFix Protspec TOM.pdf: Genium INET FIX protocol specification; MoldUDP64.

Also the description for ITCH messages:

ITCH IP Multicast For TOM.pdf: Describes TOM MTF ITCH message flow based on IP Multicasting as well as ITCH failover and ITCH re-request processes

The table below defines the various items supported by the protocols available in the TOM MTF environment.

RE FE RE N C E DATA ORDE R/QU OT E M AN AG EM E NT TRA DE RE PORT M BO DE DI CA TE D POS T TRA DE TRA DE ST AT IS TIC S M BP BR OK EN TRA DE S OMNET

_√

_(Query based)

√

ITCH

_√

(Limited)

√

FIX 5.0

√

Please contact TOM MTF if you have any questions about the above protocols or if you need any support while developing your application. TOM MTF will assist members/ISVs for protocol related questions and certification.

6.1 ORDER EXECUTION

Order executions are done through either OMnet or a FIX 5.0.

Using OMnet, you should use the IP addresses to be requested at TOM MTF to connect to GENIUM INET platform.

Using FIX, you need to order FIX ports via TOM MTF. You will receive primary ports on the primary

datacenter, additional ports on the primary datacenter for intra-site failover and separate ports on the backup site. Members are not able to utilize backup ports if primary is available.

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6.2 MARKET DATA

Market data is available either through ITCH or OMnet. The IP addresses can be requested via email at TOM MTF.

ITCH Market Data

Low latency Market By Order (MBO) feed. ITCH feed including a limited reference data. Basic reference data, orders and trades are distributed via the ITCH feed.

You will receive ITCH feeds on the primary site and on the secondary site if you connect through an extranet provider or direct connect. You will receive two flows from the primary site if you are a collocated member in the primary site.

OMnet Market Data

Market By Price (MBP) top five levels. Including full reference data.

6.3 PERFORMANCE

There is a threshold of 50 tps for the maximum number of transactions a client can send in per OMnet or FIX session per second.

6.4 RECOMMENDED BANDWIDT H

Please note that the figures below are only indications/recommendations. Each member should analyze the recommended minimum bandwidth requirement and determine if current leased lines or cross-connects are sufficient, or if an upgrade is necessary.

6.5 TOM MTF MARKET DATA FLOW

The highest network load is imposed by the TOM MTF OMnet market data and ITCH market data flow. The ITCH service is provided as an IP Multicast flow only.

The following bandwidth demand is indicated as minimum:

ITCH Market Data flow

ITCH sent out as IP Multicast flow: 100 Mbps

OMnet Market Data flow

OMnet Market data bandwidth recommendation : 30 Mbps

6.6 ORDER EXECUTION FLOW

Depending on the number of transactions per second needed for each member, the bandwidth need may vary.

FIX order execution session: 150-200 kbit/s/ FIX port

FIX for Market maker/mass Quote: 2.5 Mbps/FIX port

OMnet order execution session: 0.3 Mbps

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The TOM MTF platform is designed to provide redundancy and failover functionality. The failover solution depends on the type of system and component involved.

The secondary site acts as a standby site, where systems and processes can be promoted to run as primary.

7.1 SYSTEM FAILOVER PROCEDURES

In the event of a serious system disturbance, making the primary site unable to continue operating, the operation of the system will need to failover to the secondary site.

Under normal operation the TOM MTF central system components run on the primary site and the central systems on the secondary site are in standby mode.

The primary site has lower latency. In a situation when a client loses the connectivity, the recommendation is to try to reconnect and login to the primary site before connecting to the secondary site.

Site failover of the central system contains some manual processes and will not be immediate.

7.2 OMNET

OMnet is available on both sites i.e. participants are able to login to both sites at the same time using different OMnet id.

7.3 FIX

FIX failover is available in two phases, 1) between FIX gateways on the primary site, and 2) if the primary site is unavailable, to the secondary site.

The FIX gateway on the primary site is configured in a pair. Members are only able to connect to the primary port. In the event of a FIX gateway failure, a secondary port will be enabled for connection. The FIX sequence numbers are shared between the FIX gateways.

7.4 ITCH

Under normal circumstances the ITCH offers concurrent ITCH feeds on the primary as well as the secondary site (Groups A and B). Market data messaging can be received on all ITCH feeds. Members are advised to use the feeds on the primary site for the lowest latency (Group A).

Co-located members on the primary site have access to an additional ITCH feed (Groups C) for redundancy. In the event of a connection loss, ITCH clients’ needs to failover and re-request lost ITCH messages as described in the document “ITCH IP Multicast For TOM.pdf” found on TOM MTF website.

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Relevant TOM MTF contact details

TOM Holding BV +31 (0)20 719 5000 [email protected]

TOM BV +31 (0)20 719 5030 [email protected]

Compliance +31 (0)20 719 5043 [email protected]

Connectivity +31 (0)20 719 5016 [email protected]

Customer Support +31 (0)20 719 5032 [email protected]

Market Surveillance +31 (0)20 719 5040 [email protected]