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Market Data Optimisation 2009 (MDO) Phase II

Market Data Optimisation 2009 Phase II aims to enhance distribution of instruments, improve real-time message delivery, and streamline processing paths. The consultation outlines scope items and benefits anticipated from the project.

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Market Data Optimisation 2009 (MDO) Phase II

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  1. Market Data Optimisation 2009 (MDO) Phase II A consultation 14 May 2009

  2. MDO 2009 Phase II - Introduction Following the success of Market Data Optimisation 2009, the Group is initiating on a second phase of the project, which aims to deliver further enhancements and a more diverse distribution of instruments across channels. The existing structure of both London and Milan channels will be further refined to allow an increase in the simulatenous publication of messages across a wider range of multicast channels, as well as deliver a number of optimisations driven directly by customer feedback. MDO Phase II will deliver the following benefits: • Improvements in the parallel distribution of real time messages – an increased number of channels for UK and Borsa data • Streamlined processing path from TradElect to Infolect • Optimised channel configurations, ensuring a consistent delivery approach across all markets and services – see slide 3 for more details

  3. MDO 2009 Phase II - Scope Key scope items of MDO Phase II are: • Additional load balancing of instruments across both London and Milan channels • Reduction in idle poll interval from 15 to 5 seconds, • Transfer of all Covered Warrants market data messages (some ‘added value’ and ‘trade reports’ message types) to appropriate Covered Warrants Service/Performance Channels, • Rename of Px3 channels to Px2 to mirror Service Channel structure, • Decommissioning of the following legacy Level 1 Plus messages: • 5AB Return Measures • 5MV Market Share Top 5 • 5AF Alpha/Betas • 5AP Average Cumulative Volumes, • Decommissioning of the 5UP Uncrossing Price message from the Level 2 channels. • Target go-live date: September 2009

  4. The existing range of UK channels will be further distributed across 12 channels for each Level of data. • Instruments within this product set will be balanced evenly across all of the channels. • The Exchange will publish a list detailing which instruments will be sent on each channel. • As and when instruments move channels, a revised list will be available. • These changes will affect all data channels – see slide 4. • The same approach will be adopted for the current and future Borsa Italiana data channels – see slide 6. UK Markets: Additional Load Balancing Impact

  5. UK Markets: Additional Load Balancing Impact(2) • The remaining channels will have their Service Codes and multicast IP addresses updated to be contiguous.

  6. Borsa Markets: Additional Load Balancing Impact

  7. Feedback We welcome your feedback on the proposed changes.If you have any questions or comments please send them to us via your Technical Account Manager, or by emailing: infolect@londonstockexchange.com

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