Latest news!.... TRIDENT Phase 1 Documentation available
With the creation of the NYSE Liffe Clearing division, NYSE Liffe is now recognised as a self-clearing Recognised Investment Exchange.
NYSE Liffe Clearing has its own clearing members, who must also be members of LCH.Clearnet Ltd.
Using the TRS / CPS system, NYSE Liffe has become the central counterparty for all products on the London Derivatives market, including trades executed via Bclear. Certain clearing and guaranteed services are outsourced to LCH.Clearnet Ltd.
The Trade Registration System (TRS) was developed and introduced by LIFFE in 1987.
The Clearing Processing System (CPS) was added to TRS to form an integrated trade registration and clearing system.
The TRS/CPS service supports financial futures, equity and index options, and commodity futures and options.
Kerb TRS handles trades that have not been assigned or allocated, and claims and allocations that have failed to match.
The TRS, CPS and Kerb TRS systems work together to process all exchange business, from the time it is traded and passed into the system, through the processes of clearing, settling positions, and calculating margins, to the delivery or expiry of positions.
NYSE Liffe will be replacing the TRS / CPS system over the course of 2010 and 2011.
Core trade and position management functionality in the new system will reflect TRS / CPS functionality where appropriate in order to minimise customer impact.
The replacement programme will deliver:
A new FIXML interface including CPS messaging which will run in parallel with TSCS / TRAMP to facilitate customer adoption,
A new GUI accessible from customer desktops,
Machine readable reports with improvements in availability,
and improvements in performance from the implementation of new hardware.
Phase 1: New clearing database providing read-only access to trades and positions but routing via existing interfaces e.g. TSCS / TRAMP. A subset of reports in CSV format available from a new sftp server
Phase 2: Full migration of Equities functionality to the new application. Provision of all Equities Reports in a machine readable format
Phase 3: Full migration of Financials and Commodities functionality to the new application. Provision of all remaining reports in a machine readable format
Phase 4: Deployment of FIXML messaging and new GUI in parallel with existing interfaces followed by decommissioning of TRS / CPS interfaces - terminal, TRAMP / TSCS, PC Gateway etc
The replacement system will also support intraday margining in due course although the delivery schedule is yet to be confirmed.
For any further questions about TRS and Trident, please contact Technology Partnerships via email at technologypartnerships@nyx.com or at +44 00 207 379 2417.