Upgrade of HKATS and DCASS to Genium INET Platform. Fallback Plan. for Exchange and Clearing Participants

Transcription

1 Upgrade of HKATS and DCASS to Genium INET Platform Fallback Plan for Exchange and Clearing Participants Issue Date: August 2013

2 Table of Content 1. Introduction Fallback Arrangement Services Resumption after Fallback to Release Summary of Actions Required from Participants Participant Communications Enquiries Appendix A: Participant Checklist Upgrade of HKATS and DCASS to Genium Appendix B: Highlight on the differences of clearing data to be displayed via DCASS Terminal after fallback from Genium to Release 19.1

3 1. Introduction Hong Kong Exchanges and Clearing Limited ( HKEx ) will upgrade both the Hong Kong Futures Automated Trading System ( HKATS ) and the Derivatives Clearing and Settlement System ( DCASS ) from Release 19.1 to the Genium INET platform ( Genium ). The tentative launch date is by the fourth quarter of HKEx has conducted extensive tests on the upgraded systems during the development process. Furthermore, production readiness test and market rehearsal will be arranged to ensure market readiness for the launch of Genium. In addition, HKEx will adopt a prudent approach by developing a set of fallback procedures in order to cater for the unlikely situation where the upgraded platform may encounter irreparable incidents at the initial rollout. Should the systems not be able to recover even after applying all necessary emergency fixes, HKEx would as a last resort trigger the fallback procedures to revert to the existing Release 19.1 HKATS and DCASS in order to resume trading and clearing services for the derivatives market. This fallback plan would only be applicable in the first two weeks from the launch of the Genium (the Stabilisation Period ). During this period while HKATS and DCASS are in operation under Genium, HKEx will continue to maintain the existing Release 19.1 HKATS and DCASS as the Standby Fallback Environment. The detailed fallback arrangements and the guidelines, to be applied in case of contingency, are elaborated in the following sections. A checklist is prepared as per Appendix A to provide a quick reference for Participants to validate their readiness during Genium fallback to Release 19.1 HKATS and DCASS. The proposed fallback arrangement may have impact on the Participants derivatives trading and clearing operations. Participants are advised to read this document carefully to ensure that their own fallback procedures are properly put in place and tie in with the HKEx fallback plan in case it is being invoked. It should be noted that the fallback arrangement detailed in this document is subject to further refinement after the completion of various internal testing. Should there be any amendment to this plan, Participants will be updated immediately. Page 1 of 13

4 2. Fallback Arrangement 2.1 Overview Integrated Fallback (Trading & Clearing) Since both HKATS and DCASS will be upgraded to Genium at the same time, the fallback arrangement, when invoked, would cause both HKATS and DCASS to revert to Release Maintain Release 19.1 Environment as Standby until the End of the Stabilisation Period a. HKATS and DCASS Hosts The fallback arrangement is only applicable during the Stabilisation Period, i.e., the first two weeks after the launch of Genium. HKEx will maintain the Release 19.1 HKATS and DCASS as the Standby Fallback Environment throughout the Stabilisation Period. b. Release 19.1 Network Gateways To facilitate the fallback, Participants must retain and keep their Release 19.1 Network Gateways SWITCH ON during the Stabilisation Period. In case of fallback, HKEx would re-establish Release 19.1 HKATS and DCASS connection via Participants Release 19.1 Network Gateways. c. CLICK Workstations, DCASS Terminals Participants are required to retain their Release 19.1 shortcuts for accessing Release 19.1 CLICK Workstations and DCASS Terminals in case of fallback during the Stabilisation Period. Please refer to Sections and for the sample screens of Release 19.1 shortcuts. To ensure the Participants could access HKATS and DCASS in Genium as well as Release 19.1, in case of fallback, Participants should NOT change their passwords and/or user access profile for accessing CLICK Workstations and DCASS Terminals throughout the Stabilisation Period. d. OMnet Application Programming Interface ( OAPI ) Programs Participants are required to modify their OAPI Programs to cater for the upgrade of HKATS and DCASS to Genium. During the two-week Stabilisation Period, Participants are advised to maintain their OAPI Programs for Release 19.1 HKATS and DCASS so as to reinstate their operations in case of fallback. Alternatively Participants may want to resort to terminal input via CLICK Workstations and/or DCASS Terminals in case of fallback. Page 2 of 13

5 e. Back Office Systems ( BOS ) and other in-house arrangement Before upgrading their BOS and other in-house arrangement (if applicable), Participants should develop proper fallback procedures. They should also develop proper data update procedures to synchronise the clearing data between Genium and Release 19.1 versions of their BOS, either on a daily basis or upon fallback. Both fallback procedures and data update procedures should be tested thoroughly before the rollout of Genium. At the close of the business day immediately before the launch of Genium, if needed, Clearing Participants should back up all critical business data in their Release 19.1 version BOS and safe keep the backup image. Participants should arrange technical support from their internal IT support or relevant OAPI and BOS vendors, to standby during the Stabilisation Period, hence to handle their fallback procedures in case of fallback. 2.2 Upon declaration of Fallback by HKEx After declaration of fallback, HKEx will switch HKATS & DCASS and reload the latest trading and clearing information from Genium to Release Re-establish Release 19.1 HKATS and DCASS connection via Release 19.1 Network Gateways It is important for Participants to ensure their Release 19.1 Network Gateways are POWERED ON at all time during the Stabilisation Period. Participants can re-connect Release 19.1 CLICK Workstations and DCASS Terminals to Release 19.1 HKATS and DCASS by invoking the Release 19.1 shortcuts (re : Section 2.3), where Release 19.1 Network Gateways would be connected automatically. Participants should re-connect their Release 19.1 OAPI Programs to 19.1 Network Gateways in order to access Release 19.1 HKATS and DCASS Revert DCASS Servers to Release 19.1 version for Clearing Participants HKEx will remotely revert Clearing Participants DCASS Servers to Release Moreover, DCASS Servers will be re-loaded with Failure Day s clearing data including trades and positions. Although clearing information would be reloaded, Clearing Participants SHOULD verify their clearing transactions against the clearing information via DCASS Terminals and/or OAPI Programs before resuming their clearing operations. Owing to the difference between Genium and Release 19.1 versions, recovered clearing information might be displayed differently via DCASS Terminals. Please refer to Appendix B for details. Page 3 of 13

6 2.2.3 Switch to Release 19.1 related BOS, OAPI Programs etc Participants who upgraded their BOS, OAPI Programs and any other in-house arrangement for Genium SHOULD switch their related applications and/or systems back to Release 19.1 and ensure data is synchronised to the time right before fallback is being triggered. Once the fallback procedures are completed, Participants should verify the accuracy of the data after fallback to ensure their BOS and any in-house arrangement would be ready for production use. 2.3 Upon readiness of Release 19.1 HKATS and DCASS Upon successful completion of the fallback, HKEx will inform Participants the readiness of Release 19.1 environment. Participants then should access HKATS and/or DCASS via Release 19.1 version Access Release 19.1 HKATS by Exchange Participants Exchange Participants should verify their connection to HKATS 19.1 via version 19.1 CLICK Workstations before resuming their trading operations. The procedures to invoke HKATS 19.1 CLICK after fallback are the same as those for the current production environment: 1. Select Start All Programs OMX CLICK Trade XT A 19.1 CLICK Trade XT login window will be displayed: 2. Logon to Release 19.1 HKATS by using the Release 19.1 NG connection under current production. Page 4 of 13

7 2.3.2 Access Release 19.1 DCASS by Clearing Participants Clearing Participants should verify their connection to DCASS 19.1 via version 19.1 DCASS Terminals. The procedures to invoke DCASS 19.1 after fallback are the same as those for the current production environment: Select: Start All Programs OMX SECUR Back Office for CXYZ 120B35 where CXYZ is the DCASS Customer Code of the Clearing Participant (sample screen extracted for Windows 2008R2) b a Page 5 of 13

8 3. Services Resumption after Fallback to Release 19.1 Should the fallback procedures be invoked, Participants would be informed promptly, including the fallback schedule, estimated time of service resumption and relevant information where necessary. If derivatives trading on HKATS needs to be temporarily suspended, the trading session would be closed according to the provision. Any validly executed trades via HKATS in accordance with the HKEx Trading Rules would still be recognised and processed by HKEx. After fallback, HKATS will be brought up with an empty order book. Exchange Participants are required to re-enter any outstanding orders, if needed. A 20-minute premarket opening period would be provided for HSI futures, HHI futures and MHI futures to ensure the markets are opened orderly in case of same day trading resumption. Depending on the time when the system failure occurs, the clearing services would be interrupted differently. In case fallback is triggered, HKEx would announce the actual scenario, with the expected services interruption, fallback arrangement and estimated time for services resumption, if applicable, to the Participants. Various system failure scenarios are described briefly below: 1. If the system fails and falls back to Release 19.1 before start of clearing services No trades and post-trade transactions would have been entered. Depending on the declaration time of the fallback, market open for T Session and the availability of clearing services may or may not be delayed. After fallback, all relevant clearing data would be restored in Release 19.1 DCASS. Before resumption of clearing operations, Clearing Participants should verify their positions as at the close of last Business Day. 2. If the system fails and falls back to Release 19.1 (i) after market open; or (ii) before the start of clearing batch processing Should fallback be declared, trades executed on HKATS Genium and post-trades executed on DCASS Genium on the Failure Day would be converted and reloaded by HKEx to Release 19.1 HKATS and/or DCASS. Depending on the declaration time of the fallback, T Session and/or T+1 Session might NOT be re-opened or available for the day. However, HKEx will resume clearing services after fallback to Release 19.1 for Clearing Participants to verify their clearing information and input their post-trades. Page 6 of 13

9 3. If the system fails and falls back to Release 19.1 during execution of clearing batch processing Should fallback be declared, trades executed on HKATS Genium and post-trades executed on DCASS Genium on the Failure Day would be converted and reloaded by HKEx to Release 19.1 HKATS and/or DCASS. In case system failure is declared during T+1 Session, T+1 Session would NOT be re-opened upon system fallback. HKEx will resume clearing services after fallback to Release 19.1 for Clearing Participants to verify their clearing information and re-input their post-trades. However, Clearing Participants please take note of the following: All original trades executed during the Failure Day would be retained, but the trade number of those trades executed after start of batch processing may be re-assigned. All post-trades executed after the start of batch processing, i.e. around 6:45 p.m. till the failure point may be lost. Clearing Participants may have to re-input those unrecovered post-trades upon clearing services resumption. Page 7 of 13

10 4 Summary of Actions Required from Participants The following is a summary of actions required from Participants to cater for the execution of the fallback procedures: (a) Exchange Participants: Before the launch of Genium Develop and verify internal fallback procedures before the upgrade of HKATS Genium. During the two-week Stabilisation Period Maintain Release 19.1 Network Gateways, HKATS OAPI Programs, CLICK Workstations and any other in-house arrangement, if applicable Do not change the password for accessing HKATS throughout the Stabilisation Period Provide HKEx with updated emergency contact (including mobile phone number(s) and address(s)) of responsible trading staff. In case fallback is being triggered during the Stabilisation Period Switch from Genium Central Gateway and/or Network Gateways back to Release 19.1 Network Gateways Re-activate Release 19.1 HKATS OAPI Programs and any other in-house arrangement, if applicable. Upon service resumption after fallback Verify whether the order book is empty with no outstanding order after logging in via Release 19.1 CLICK Workstations or OAPI Programs query. Verify whether the trades shown in the Clearing Trades Window are correct. Page 8 of 13

11 (b) Clearing Participants: Before the launch of Genium Develop and verify fallback and data update procedures for BOS, OAPI Programs and/or other in-house arrangement, if applicable. During the two-week Stabilisation Period Maintain Release 19.1 Network Gateways, DCASS Servers, DCASS Terminals, DCASS OAPI Programs, BOS and any other in-house arrangement, if applicable Do not change the password and/or user access profile for accessing DCASS Terminals throughout the Stabilisation Period Provide HKEx with updated emergency contact (including mobile phone number(s) and address(s)) of responsible clearing staff. In case fallback is being triggered during the Stabilization Period Access Release 19.1 DCASS via Release 19.1 Network Gateways. Invoke Release 19.1 DCASS via DCASS Terminals with reference to section Re-activate Release 19.1 OAPI Programs, BOS and any other in-house arrangement, if applicable. Upon service resumption after fallback Verify the accuracy of recovered clearing data via Release 19.1 DCASS Terminals, with reference to Appendix B Re-input post-trades as required Refer to DCASS reports instead of DCASS Terminals for the margin requirements of the previous business day before the fallback. Page 9 of 13

12 5 Participant Communications Participants would normally be informed of any contingency arrangements via Market Message through CLICK Workstations and/or Clearing Message through DCASS Terminals. In case of contingency where Participants could not access either HKATS and/or DCASS, HKEx would communicate with Participants via . In case of fallback, relevant information would also be issued via press release. Please note that the HKATS Hotline at and/or DCASS Hotline at would continue to be available during contingency and fallback. 6 Enquiries For any enquiries about this fallback plan, Participants can contact the following hotlines during office hours: HKATS Hotline, for Exchange Participants: DCASS Hotline, for Clearing Participants: Page 10 of 13

13 Appendix A Participant Checklist Upgrade of HKATS and DCASS to Genium Items to be checked (A) Before the upgrade of HKATS and DCASS to Genium Have you read and understood this document ( Fallback Plan for Upgrade of HKATS and DCASS to Genium INET Platform )? Have you passed this document to your internal IT support or system vendor and ensured that they would make necessary follow-up action? Have you provide HKEx with your updated emergency contact (including mobile phone number(s) and address(s)) of responsible trading and clearing staff Have you ensured that there is always responsible staff who has telephone and contact with HKEx and also with their Trading Terminals and/or CLICK Workstations and/or DCASS Terminals switched on to obtain announcement regarding the fallback arrangement? For Clearing Participants only: If you would perform recovery for your Back Office System ( BOS ) and OMnet Application Programming Interface ( OAPI ) Programs upon fallback, have you developed a set of detailed fallback procedures and tested such procedures? For Clearing Participants only: Have you arranged to keep proper records of post-trade transactions in case of fallback during the Stabilisation Period? (B) At the close of business just before the launch of upgrade HKATS and DCASS to Genium 7 8 Have you made backup of all critical business data as well as HKATS and DCASS related programs? For Clearing Participants only: Have you printed and/or downloaded all reports from Release 19.1 DCASS Terminals before the launch of upgrade DCASS to Genium? (C) During the Stabilisation Period 9 Have you retained and kept your Release 19.1 Network Gateways SWITCH ON? Page 11 of 13

14 Items to be checked Have you maintained your Release 19.1 BOS, OAPI Programs and other in-house arrangement, if applicable, in order to reinstate their operations in case of fallback? Do not change any password and/or user access profile during the stabilisation period. For Clearing Participants only: Have you ensured that proper records of posttrade transactions in case of fallback? (D) When HKEx announces Fallback 13 Have you successfully signed on to designated accounts to view the fallback announcements made by HKEx? Have you switched to Release 19.1 Network Gateways for HKATS and DCASS connection? For Clearing Participants only: Would you fallback your BOS and OAPI Programs? (If not, please proceed to Question 19)? For Clearing Participants only: Have you informed your internal IT support or system vendor about fallback and requested them to execute BOS and OAPI Program fallback? For Clearing Participants only: Have you verified the accuracy of the restored data in your BOS? (E) When Clearing Services resumes 18 Have you verified the clearing reports downloaded from Release 19.1 DCASS against the data in your BOS? Please contact the DCASS Hotline at if discrepancy is found. Page 12 of 13

15 Appendix B Highlight on the differences of clearing data to be displayed via DCASS Terminal after fallback from Genium to Release 19.1 Genium Release 19.1 Trade Trade Type Deal Source Trade Type Deal Source New trade information only available after upgraded to Genium Combo series Combo trade Standard (1) Standard (1) Normal trade (1) Tailor Made Combo trade Standard (1) match outright (43) Tailor Made Combo trade legs (36) Standard (1) Standard Combo (7) Existing trade information available in both Release 19.1 and Genium Give-up trade Give-up (17) Transfer (5) Give-up (130) (reversing) Take-up (overtaking) Take-up (18) Standard (1) or Transitory (2) Give-up (130) Transferred from transitory Standard (1) or Take-up (18) Inherit deal source from original trade Standard (1) Inherit deal source from original trade Reversing transfer From original trade Transfer (5) Transfer (5) from transitory but not give up (130) Reversing Take up Reversing (4) Reversing (4) Give-up (130) Overtaking Take up Take-up (18) Overtaking (3) Give-up (130) Transitory Take Up Trade Transitory (2) Transitory (2) Give-up (130) Page 13 of 13