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BATS/Direct Edge Integration – EDGA/EDGX Transition
Customer Call
January 7, 2015
Integration Update
• Agenda:
–
–
–
–
Testing progress update
Final weekend test opportunity/configuring for go-live
Migration timeline for BZX/BYX/BATS Options
Q&A session for Customers
• Speakers:
– Chris Isaacson, Executive VP, Global Chief Information Officer
– Bryan Harkins, Executive VP, Head of U.S. Markets
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Integration Update – Testing Progress
• All systems go for January 12th go live in NY5
– EDGA/EDGX will be migrated to BATS technology
• System testing to date has been successful with
strong participation from members
– New latency-equalized customer connections = 125
– Total number of certifications = 84
– Percentage of daily EDGA/EDGX volume certified = 98.2%
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Final Weekend Test – This Saturday
• Final Weekend Test Opportunity – Saturday, Jan. 10th
– Members should leave systems configured for new EDGA/EDGX after
the test to be ready for Monday morning trading.
– We encourage everyone to participate to avoid Monday morning
surprises.
• 1st Trading Day for EDGA/X in NY5 – Monday, Jan. 12th
• As a reminder…
– Latency equalized between AND within NY4 and NY5 on new BATS
infrastructure.
– BATS will maintain a network Point-of-Presence (PoP) in NJ2
(Weehawken).
– BATS will maintain legacy Direct Edge physical connections in NY4
– Direct Edge website will be retired as of Monday. All notices, alerts, etc.
will now be located on bats.com and batstrading.com.
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BATS BYX/BZX/Options NY5 Migration
First & Second Quarter 2015
Target Date
Milestone
January 1, 2015
Ready for Logical port orders in NY5 – BYX / BZX / BATS Options
January 10, 2015
Final Weekend Testing for EDGA/EDGX
January 12, 2015
Migration Day EDGA/EDGX
February 2, 2015
Ready for member testing, test symbols – BYX / BZX / BATS Options
February 21, 2015
Weekend Testing for BYX / BZX / BATS Options
March 28, 2015
Weekend Testing for BYX / BZX / BATS Options
April 11, 2015
Weekend Testing for BYX / BZX / BATS Options
April 13, 2015
Migration Day BATS Options
May 2, 2015
Weekend Testing for BYX / BZX
May 4, 2015
Migration Day BYX / BZX
May 30, 2015
Contingency Testing Weekend for BYX / BZX
June 1, 2015
Contingency Migration Day BYX / BZX
• BATS Options – Migration Day
• BYX / BZX / Options – Ready for
Member Testing
• BYX / BZX – Migration Day
• Contingency Migration Day
4/13
2/2
February
March
2/21
June
May
April
3/28
6/1
5/4
4/11
5/2
July
5/30
Multiple Weekend Testing Opportunities
• Contingency Weekend Testing
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Integration Pricing Accommodation
• EDGA/EDGX January Tier Adjustment
• Trading volumes from January 12 through 16 will be
excluded from volume tier calculations
1/1
1/12
1/19
1/26
1/30
Excluded from Tier
Calculation
1 trading day
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Summary
• Final weekend test is this Saturday, January 10th.
• Members should leave systems configured for new EDGA/EDGX
after the test to be ready for Monday morning trading.
• Integration on schedule for go live on Monday, January 12, 2015
• The BATS BYX, BZX, and Options Exchanges will move from
Weehawken (NJ2) to NY5 in the 2nd quarter of 2015
– BATS Options will move on April 13 and BZX and BYX will both move on May 4
• Thank you for your support throughout the integration process!
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