Scope of Mock Trading Session on August 3rd, 2024 - PUMA Trading System

To assist participants in planning changes and implementations, a mock trading session of the PUMA Trading System will be held on August 3rd, 2024, with market participation.
In this session, the following system and infrastructure changes will be validated:

•    Templates File Update:
The Market Data templates file will be updated to version 1.8.0.

In the production environment, Market Data Binary publications will be based on "Schema version" 9.

The updates to the Binary UMDF – Message Reference v1.8.0, 
Binary UMDF – Message Specification Guidelines v1.8.0 and b3-market-data messages v1.8.0 may be consulted at https://www.b3.com.br/en_us/, 
Solutions, Platforms, PUMA Trading System, Developers and vendors, Binary Market Data, Binary UMDF. The update to the new version of the templates file will not be mandatory as it is retro-compatible with the previous version.

•    Warmup Deactivation:
As part of the continuous improvement process of trading systems and in response to the growing demand for low latency, B3 launched binary gateways at the end of 2023 for the derivatives segment and at the beginning of 2024 for the equities segment.

For this reason, the test instruments TF900, TF901, TFAZ99, and TFBZ99, which could be used by participants to optimize the performance of their trading algorithms through the constant submission of orders, will be deactivated as of August 05,2024 and, therefore, the submission of orders for this purpose will be prohibited on EntryPoint FIX trading gateways or binary gateways.

Additionally, we inform you that the commercial policy related to this practice, disclosed in Circular Letter 001/2021-VNC of July 15,2021, will be discontinued.

•    Weekly Equity Options: identification in the SecurityList (tag MaturityMonthYear):
Un update will be implemented in the MaturityMonthYear tag 200 of the Market Data FIX and Binary.
With this update, we will have the implementation of an additional character in the InstrumentList messages, 35=y, representing the week of the weekly options.
We emphasize that there is no change in the message structure and that only the weekly options will receive this additional character.

Tag	Tag Name	Req	Data Type	Comment
200	MaturityMonthYear	N	MonthYear	Month and year of the maturity (for futures and options). For weekly options, this tag contains the calendar month and week indicator reflected in the instrument symbol. Format YYYYMMW (e.g., for the 4th week options of july 2024: 2024074).

 

•    Mass Cancel on Behalf:
The new service for mass cancellation, and the use of the Mass Cancel on Behalf functionality will be available on production for the Equities segment on August 5, 2024.
The new Mass Cancel on Behalf functionality will allow a trading session to cancel orders submitted by other sessions, provided that all sessions belong to the same client and participant. That said, the cancellation will be performed through the Mass Cancel functionality, which will now include the new "InvestorID" filter in its message.

Initially, only trading sessions from the binary gateway will have access to this functionality, meaning that Mass Cancel on Behalf cannot be sent by FIX gateways during this first phase. Mass Cancel on Behalf requests sent by the binary gateway will have the capability to cancel orders from FIX gateway sessions that have the same InvestorID.

Additionally, clients who do not wish to use the Self-trade Prevention functionality and want to exclusively use the Mass Cancel on Behalf functionality must mandatorily send the SelfTradePreventionInstruction field filled with the value zero (35539=0), which represents the domain NONE, and fill in the InvestorID field (35008) as described in the MESSAGE REFERENCE – VERSION 8.1.1.2.

•    Purge Gateway:
During the mock trading session, the possibility of connectivity and sending Mass Cancel on Behalf will be made available in the Purge Gateway sessions for clients who have already contracted these sessions. It will be available in the production environment on August 5, 2024, for the Equities segment.

•    Matching Engine Update:
Implementation of the new version of the Matching Engine including the template Market Data update to version 1.8.0, following the implementation plan listed below:

Wave 01	Aug/05/2024	MarketSegmentID:                             68 (DRV01), 70 (DRV02), 80 (EQT01) and 98 (EQT09)
Wave 02	Aug/12/2024	74 (DRV04), 76 (DRV05), 82 (EQT02), 86 (EQT04), 92 (EQT07) and 94 (EQT08)
Wave 03	Aug/19/2024	72 (DRV03), 78 (DRV06), 84 (EQT03), 88 (EQT05) and 90 (EQT06)

 

•    LiNe Trading Update:
Implementation of a new version of LiNe Trading to correct the classification of BDR Blocks.

1.    Mock trading session timetable:

Starts	Ends	Phase
10:30 am	11:00 am	Roll call and connectivity test
11:00 am	11:05 am	Pre-opening
11:05 am	11:55 am	Trading – mandatory script
11:55 am	12:00 am	Closing Call
12:00 am	12:30 am	Free Trading

 

2.    Morning test of the electronic trading system:
It is mandatory for all the firms to participate in the morning test, which will be held on August 5th, 2024 (Monday), from 7:00 a.m. to 7:45 a.m. for the derivatives market and from 7:00 a.m. to 8:00 a.m. for the equities market in both production environments.

3.    Participation confirmation:
The activities to be performed during the test can be found in the mandatory script. Market data for these instruments will be sent during the mock trading session.
Participation in the mock trading session must be confirmed no later than 12 noon on August 2nd, 2024 (Friday), exclusively by email at [email protected] with “Mock trading session” in the subject line, identifying the institution, naming the individuals who will participate and supplying their contact details (telephone numbers and email addresses).

In response to this confirmation, the participant will receive the mandatory test script, and must fill it out and send it to the above email address.

Please note that mock trading session participants must adjust their internal systems so that the results of the mock trading session are completely segregated from real trading sessions.
Further information can be obtained from B3 Services – Trading, by telephone on +55 11 2565-5021/5022.