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Futures Industry Disaster Recovery Test Briefings June, 2009 “DR VI” Prepared and Moderated by John Rapa, CBCP Tellefsen and Company, L. L. C.
AGENDA I. Introduction and Welcome II. Testing Goals and Objectives III. Review of Testing Protocol IV. Member Firm Readiness Discussion V. Timeline and Next Steps
I. INTRODUCTION AND WELCOME Our Panelists Today: CFE: Todd Furney KCBT: Dan Umstattd CME Group: Chris Sarcletti NASDAQ Futures Exchange: Gary Rounbehler ICE Exchanges: Brian Sayler OCC: Frank Castelluccio ICE Clear US: Brian Sayler TCC: Jeff Mikula IDCG: Roddy Kopera Tellefsen and Company: John Rapa
II. • • TESTING GOALS AND OBJECTIVES Test the basic ability to conduct business (order entry through clearing) from alternate/back-up facilities simultaneously Test disaster recovery capabilities among futures commission merchants, back-office service providers, recovery services providers and trading system vendors Test the connectivity between exchanges, clearinghouses and their constituents’ back- up facilities (“back-up to backup”), and confirm member firms’ ability to send/receive information to/from their back-up facilities/interfaces Test end-to-end processing by exchanges through to, and including clearing houses; process actual test trades, produce test end of day reports with the test data.
GOALS AND OBJECTIVES … Continued • Enter a small but meaningful sampling of orders and trades, carried out by a limited number of essential personnel from alternate locations • Confirm the receipt/transmission of information to/from clearing members • Transmit key clearing reports and information to clearing firms to verify “round-trip” communications.
III. REVIEW OF TESTING PROTOCOL • Exchanges will specify products available for order entry/trading • All exchanges will use their electronic trading venues for the test and process test data through to end-of-day reports for clearing members. Testing will take place between 9: 00 a. m. and 3: 00 p. m. EDT, unless otherwise specified. • The FIA will manage the test via an open conference bridge (conference bridge number to be announced) • Member firms will confirm connectivity with their respective exchanges/clearinghouses: – Pre-test connectivity testing will be offered, as applicable • Unless so noted, firms will execute a pre-defined script of orders. Firms will use test accounts • Exchanges will generate fill reports on the orders • All firms will report results and confirm post-test production connectivity to the respective exchanges.
CBOE FUTURES EXCHANGE • Will use CBOEdirect back up ETS • Trade entry via scripts: – Products to be traded: VIX futures • Pre-test requirement - Users must register via the FIA website and establish back-up connectivity to CFE via the CBOE API Client Relations Group • Data will be edited to modify the trade date: – Order entry systems will reflect October 24 th trade date – Will accept either October 23 rd or October 24 th trade date on order input.
CBOE FUTURES EXCHANGE (Cont’d)… • • The session will open at 9: 30 AM EDT Transmission of trades to OCC via MQ Transmission of regulatory data to NFA via FTP Pre-test connectivity tests will be offered on Tuesdays and Thursdays in October. Please contact us to schedule a date/time. • Contact CBOE Client Relations Group with any test related questions: 312 786 7300.
CME GROUP • • CME Group (CME, CBOT, NYMEX) will test as one entity this year There will be no testing at I-Park There will be no Open Outcry testing By test time, most NYMEX systems and applications will be migrated to the CME Group environment • Exceptions to this will be Clear. Port Clearing (OTC), CPC and API 9
CME GROUP (Cont’d) … • CPC and API will be migrated one to two weeks after the test • All communications to CME Group from the firms should be through the GCC or CME Group’s Clearing Support Team. • Clearing reports will not be produced on the day of the test. They will be available to firms that wish to see them during the week following the test. 10
CME GROUP - GLOBEX • Will use GLOBEX via remote data center • Firms must register via the FIA website • Questions may be directed to CME Group Associate Director of Business Continuity – [email protected] com • Members should call the GLOBEX Control Center at (312) 456 -2391 to report any trading problems encountered throughout the test • Trades will be processed through to the appropriate clearing organization. 11
CME GROUP GLOBEX (Cont’d)… • Verify firm connectivity: – All GLOBEX Markets will be in Pre-Opening state. This will happen at approximately 8: 30 am EDT – Can use either October 23 rd or October 24 th trade dates. All fills will be sent back to the Firms with the trade date of the 23 rd – Firms can send a test order in any market they wish – No trades will occur during the Pre-Opening period – Firms will verify connectivity and can send/receive messages. 12
CME GROUP GLOBEX (Cont’d)… • Order entry via test script as follows: – Enter bids as customer and offers as house at the settlement price in the market you choose – Enter about 10 trades – Firms may use any market they want. Firms should send orders in on ‘Floor Only Contracts, like the SPZ 0 that will be listed on GLOBEX for the test – Firms may receive crossed trades and/or trades with other counterparties • Trade reporting to firms’ back office systems: – Should be verified and then deleted • Enter ex-pit transactions via CME portal URL. 13
CME GROUP - CLEARING • Change FTP IP address to CME’s remote site IP address to connect to CME FTP server via RDC IP: – Using Friday’s data, FTP the PCS and Large Trader reports – CME staff will verify receipt and then delete them • CME will transmit Thursday’s Trade Register and SPAN files – Firms will verify receipt of these files and delete them • Connect to RDC URL and enter a block trade for: – 5000 EDH @9900. 0 • CME staff will verify receipt of the block trades and then delete them 14
CME GROUP CLEARING (Cont’d)… • Contact CME Clearing Support (CCS) team at (312) 207 -2525 to obtain CME Production IP address, RDC IP address or RDC URL address • Switch back to CME production site IP address at test conclusion • Finally, firms should contact the GCC at (312) 456 -2391 to recap the test results. 15
ICE EXCHANGES • The ICE Exchange will be available from Disaster Recovery site in Atlanta for front end trading application testing – Markets will enter a pre-open state at 10: 00 pm EDT on Friday 10/23/09 and open at 9: 00 am EDT on Saturday 10/24/09: • ICE Futures US Sugar 11 • ICE Futures US Russell 2000 • ICE Futures Europe WTI • ICE Futures Canada Canola – Note: All OTC and NGX markets will be open and running in production mode throughout the testing • ALL TRADES IN OTC MARKETS WILL BE HONORED • No test trading in any OTC markets permitted during FIA test – Futures markets listed above will remain open until 12: 00 pm EDT on 10/24/09 – Non-trading applications will be available during testing • All ICE web reporting (deal reports, position reports, etc) accurate based on test trading activity – ICE Block will be available during testing – Firms can trade freely in all open futures markets. No test trading in any OTC markets permitted – all OTC trades honored. • There is no set testing script for trading
ICE EXCHANGES (Cont’d) … • All existing customers with valid trading IDs are welcome to participate: – Valid user ID and production password will be used for login • Ping Test Overview and Connection Summary: – Atlanta DR site will be available to test login on Saturday, 9/26 and 10/10 from 9: 00 am EDT – 12: 00 pm EDT – All futures markets will be closed and only system login will be tested: • OTC markets will be open for production trading – no test trades permitted – Review the connection guidelines for the disaster recovery site: • https: //www. theice. com/publicdocs/technology/ICE_Firewall_ Proxy_Requirements. pdf – No network, DNS, or IP changes will be required to connect to the DR site during the ping test or the FIA DR Test • All connection type will be available for ping and DR tests: – Connections to DR will be available after 10: 00 pm EDT on the Friday evening before each test
ICE EXCHANGES (Cont’d) … • Testing Administration and Support: – All participants MUST clean up all backend system data after testing – No Future trades performed during testing hours will be valid. – All OTC markets are open and all trades are live – NO TEST TRADING IN OTC MARKET – The ICE Helpdesk will be available from 8: 00 am EDT through 1: 00 pm EDT at the main phone number on the ICE website – At the end of the DR testing period, all trade data will be deleted from the ICE Exchange and databases and no record of the days transaction will persist • Clearing Information: – All ICE Futures US trades will be submitted to the ICE Clear US backup site – All ICE Futures Canada trade submission to the KCBOT backup site being evaluated – ICE Futures Europe and OTC cleared trade will not be submitted Ice Clear Europe. Alternative testing plans being developed for ICE Clear Europe
ICE CLEAR US • Firms must register via the FIA website • Verification of connectivity between firm and DR site via ping testing is scheduled for September 26 th and October 10 th from 912 pm ET • Trade date will be Saturday October 24 th • At this point all clearing related applications are web-based and the change over from production to back up systems will be transparent to clearing members • These applications will include: – AFTS – PTMS – MQ TIPS ECS e. Reports
ICE CLEAR US (Cont’d)… • Ping testing - clearing members must verify connection to online clearing applications, using production URL’s • These applications will include: – AFTS TIPS – PTMS ECS – MQ e. Reports • For MQ testing, Clearing members must verify connection by sending an MQ ping through their channel.
ICE CLEAR US (Cont’d)… • • • ICE Clear US and ICE Futures US will roll applications used by clearing members prior to 8: 00 am on Saturday, October 24. No IP address changes will be necessary to connect to ICUS or IFUS applications, including: - TIPS/PTMS - ECS - AFTS - MQ/FIXML trade messaging - e. Reports BCP/DR support staff will be available up to and including test day. Please direct any questions to ICEClear. [email protected] com ICE will make a conference bridge available to clearing members on test day. Details will be distributed to registered CM participants prior to the test day. Upon completing of the test day clearing cycle, expected to be at 1: 00 pm, ICE will revert all trading and clearing applications, including MQ channels, back to production. An advisory will be sent to test participants and announced on the ICE bridge call. Clearing members are strongly encouraged to confirm their connection to production at the conclusion of the testing.
ICE CLEAR US (Cont’d)… • Test Cases – Test Day – Clearing members will use the post trade management systems (PTMS and TIPS) to accept test trades passed through to clearing by the ETS and option trades loaded by the Exchange. Clearing members must demonstrate their ability to log into TIPS, PTMS, and ECS to pass this portion of the test • Test Files: – TIPS intra-day files and Matchoff files will be available via the AFTS server – FIXML trade messages will be sent to CMs via MQ – CMs will deliver PCS and Large Trader files via AFTS (production files from Friday, October 23 rd) – ICE Clear US will complete a clearing run and generate the regular clearing data files: • Matchoff files delivered through AFTS • Clearing Reports delivered through ICE e. Reports and AFTS • SPAN file (available through AFTS and CME web site)
INTERNATIONAL DERIVATIVES CLEARING GROUP (NFX/IDEX & IDCH) • Ping testing will be available on September 26 th. If required, a follow up test will occur on October 10 th. • Will use the IDEX XT trading system from the secondary site • Trade orders will be received at IDEX Market Operations • Trade will be reported and automatically matched and executed with a trade date of Saturday, October 24, 2009 • Trade confirmations will be generated and transmitted to firms • NFX/IDEX trades will be automatically processed for clearing and settlement to the IDCH • Firms must notify the IDCG Market Operations Group upon completion of the test via phone (1 -888 -866 -IDCG) or email [email protected] com • Contact information for testing: – Gerry Lawlor 646 -867 -2523 gerry. [email protected] com
KANSAS CITY BOARD OF TRADE • Two components of Kansas City Board of Trade (KCBT) test: – Injection of GLOBEX trades into KCBT clearing remote data center – Entry of open outcry trades into KCBT clearing remote data center • For GLOBEX portion of test: – Refer to CME Group information for hours and procedures on CME GLOBEX. – Trades will be injected from GLOBEX to KCBT clearing – Trade date sent from GLOBEX will be October 23 rd – Enter bids and offers in KCBT Wheat (KE), Value Line (MV) or Wheat Options (OKE) at the previous day’s settlement price (this will ensure your trade matches with other participants). Either October 23 rd or 24 th may be used for trade date, but the KCBT Clearing Corporation will be running on a business date of October 24 th.
KANSAS CITY BOARD OF TRADE (Cont’d) … • KCBT open outcry portion of test: – KCBT Clearing will contact designated firm representatives for KCBT and provide details on trades that will need to be entered for open outcry – Request that each firm work with their people responsible for daily interaction/operation at KCBT to ensure continuity of documentation and communication – Clearing login information and instructions have been provided to those responsible for interaction with the KCBT/KCBT Clearing Corp. – Clearing will determine any pre-testing requirements with firms • Upon completion of trade entry for GLOBEX and open outcry, trades files will be generated and be made available for download. • NOTE: Failover from KCBT primary data center to remote data center uses DNS. Firms requiring explicit IP information should work directly with KCBT Clearing to ensure connectivity.
MEFF • • • Trade date will be Saturday October 24 th Will use the MEFF production ETS environment Members will be able to trade During the test MEFF will failover to the backup system Once the failover is complete, members will be able to continue trading • Members will be able to get reports of their trades • Back office systems will be prevented to enter this test • MEFF contacts: – Enric Padro – [email protected] com (+34 93 412 1128) – Arturo Pinera – [email protected] com (+34 91 709 5503)
NASDAQ FUTURES EXCHANGE (NFX) • Ping testing will be offered on September 26 th. If required, a follow up test will occur on October 10 th. • Will use the NFX/XL trading system from the primary site • Trade orders will be received at NFX/XL Help Desk • Trades will be automatically matched and executed with a trade date of Friday, October 23, 2009 • Fill reports will be generated and transmitted to firms • NFX Trade File will be processed for clearing and settlement • Firms will notify the NFX Emergency Management Office (EMO) upon completion of the test via Phone (215 -496 -5052) • Contact information for testing: – Gary Rounbeler 215 -496 -5463 gary. [email protected] com
OPTIONS CLEARING CORP. • OCC will test from their DR site • Pre-testing will take place on August 15 th • In order to test from your DR/alternate site or production site, OCC requires the following mandatory information: – Identify if you will be testing from DR or Production for the pre-test; the main test – Confirm all connectivity method(s) that apply (e. g. , FTP+ Pull/Push, NDM, MQ) – Provide test day contacts for each of the connectivity methods selected above – Provide IP addresses of your DR location (per service/host) – DR Node (NDM and FTP+ Push testers) with login ID and password – Port Number (NDM, FTP+ Push, and MQ testers) – Identify any MQ configuration changes from your production environment – Provide the dataset name you will use for testing outbound (from OCC) transmissions – Do you send inbound transmissions directly to OCC? • If Yes: Dataset name you plan to send to test Inbound (to OCC) transmission (if applicable) (please use a production dataset name with a trailing “. test”. • If No: No action required. 28
OPTIONS CLEARING CORP. (Cont’d) … • Pre-test and test scripts will be issues to all registered participants • All IP addresses and TCP Ports for the OCC will remain the same as they are in production for this test • Firms can receive outgoing file transmissions from the OCC will provide test files as. txt output files. • Firms can submit incoming file transmissions to the OCC (only if your firm transmits files to OCC in production) • When all testing is complete, email your confirmation to occ. [email protected] com • ENCORE will be available for testing, but is not a requirement to successfully test with OCC • Should you have any questions prior to or on the scheduled test day, feel free to contact your Member Services Representative at (800) 621 -6072 option 2. 29
THE CLEARING CORP. • The Clearing Corp. will test from their DR site • Pre-test ping testing will take place on September 26 th – FTP verification performed by logging on to the CCorp FTP server – MQM connectivity will be performed by performing a MQM ping via the MQM channels – Previous day’s clearing reports will be available for firms to retrieve to their testing sites • PCS, large trader and/or ex-pit transactions will not be accepted • Scripted Confirmation data will be sent to clients that have requested them. 30
THE CLEARING CORP. (Cont’d) … • • All clients should pre-register on the FIA Web site CCorp Test request form will be sent to all clients that have registered If any new devices or different IP Addresses are used for the test, please notify CCorp at least three weeks in advance of test date Access to CCorp may require IP Address changes by some clients, depending on the method of network access to CCorp. Contact the Technical staff for any detail needed It is important to communicate with CCorp regarding your Test Results and issues you may be having when testing: • [email protected] com Contact Information: + Business … 312 -786 -5718 …[email protected] com + Technical. . 312 -986 -3415 …c[email protected] com All clients should re-test their production environment at the conclusion of the test. 31
EXCHANGE AND CLEARING HOUSE TESTING MATRIX CBOE FUTURES EXCHANGE CME GROUP CLEARING CORP. ICE EXCHANGES CBOE Direct GLOBEX BACK UP ICE Exchange. Ping Testing Y Y Successful Login from Members DR Site Y Y 10/243 or 10/24 10/23 or 10/24 N/A 10/24 Receipt of 10 Orders from Members Via Pre-Defined Scripts Y Y N/A N Transmit 10 Fill Reports to Member Firms Y Y N/A N Receipt of 10 Ex-Pit Reports from Member Firms Via Scripts N Y N/A N Y+ N N N Y Y Y Systems Trade Date Receipt of PCS and Large Trader Reports from Members N/A Download Previous Day Clearing Reports to Members: -Match Off File -Report File -SPAN File All Production Systems Restored, Test Data Re-Set N/A Y • CBOE Futures Exchange and CME will accept either October 23 or October 24 trade dates on order input. . + CME will accept previous day (October 24) large trader report information.
EXCHANGE AND CLEARING HOUSE TESTING MATRIX KCBOT ICE CLEAR US IDEX/IDCG MEFF NFX GLOBEX, KCBT Clearing TEMS ECS, PTMS, TIPS, e. Reports, Data Express, MQ Trade Messaging NFX /XL PROD. NFX//XL Ping Testing N Y Y N/A Y Successful Login from Members DR Site Y Y Y 10/23 Or 10/24 10/23 10/24 Y Y Y – Trades File N Y Y Y Receipt of 10 Ex-Pit Reports from Member Firms Via Scripts N N N/A N/A Receipt of PCS and Large Trader Reports from Members N Y N/A Y Download Previous Day Clearing Reports to Members: -Match Off Files, Report Files, SPAN Files N Y Y N/A Y All Production Systems Restored, Test Data Re-Set Y Y Y Systems Trade Date Receipt of 10 Orders from Members Via Pre-Defined Scripts Transmit 10 Fill Reports to Member Firms • CBOE Futures Exchange and CME will accept either October 23 or October 24 trade dates on order input. . + CME will accept previous day (October 23 rd) large trader report information
PRE-TEST COMMUNICATIONS TESTING SCHEDULE • August 15 th Options Clearing Corp. • September 12 th: CME Group, ICE Clear, ICE Exchanges, NASDAQ Futures • September 26 th: CME Group, Clearing Corp. , ICE Clear, ICE Exchanges, IDCG, NASDAQ Futures • October 10 th: CME Group, ICE Clear, ICE Exchanges, IDCG, NASDAQ Futures • Ad hoc testing: CBOE Futures (Tuesdays, Thursdays)
IV. MEMBER FIRM READINESS • Discussion with member firms as to the state of their readiness: – Back-up systems/communications links – Order entry and routing – Market data – Give up processing – Clearance and settlement – Use of third party service providers • Major issues or concerns.
V. TIMELINE AND KEY DATES July 1 Monthly Conference Call, Status August 5 Monthly Conference Call, Status August 15 OCC Ping testing September 9 Monthly Conference Call, Status September 12 Ping Testing September 22 Meetings – Chicago/New York City September 26 Ping Testing October 10 Ping Testing October 23 All Hands Conference Call October 24 Test Day October 28 Post-Mortem Conference Call
20 MORE WEEKS TO GO !