Optiq Migration

Following the acquisition of Borsa Italiana Group in April 2021, Euronext is planning to migrate Borsa Italiana Cash and Derivatives markets on Euronext’s cutting-edge Optiq® trading technology, subject to regulatory approval and operational readiness.

 

Why are Borsa Italiana’s markets migrating to Euronext Optiq®?

Borsa Italiana will join Euronext’s federal model, Single Order Book and Europe’s deepest liquidity pool, thereby offering sustainable and superior market quality and value for local and global clients. Business diversification and simplicity of access to European markets will bring significant benefits to Italian issuers, members, investors and the real economy. A rich international investor base and an enhanced range of products and services will be opened to Italian trading members.

Optiq is a proven Euronext technology, providing enhanced performance, a high quality service and maximum flexibility, with best-in-class latency (15µs). Euronext has a strong track record of integrating exchanges, starting with Dublin and Oslo, which showed multiple benefits for clients post-migration and did not adversely impact the local ecosystem during the migration phase.

 

When will the migration take place?

The current approach that is being investigated and to be approved is a sequencing of the migration of Borsa Italiana’s markets onto Optiq in three (3) phases.

Usually, 2 Dress Rehearsals per migration with clients take place during the week-ends prior to each migration. The Go-Live will take place on a third week-end, before each migration.

The Optiq technology will be hosted in the Aruba data centre, Euronext’s future primary data centre (subject to regulatory approval). The Borsa Italiana DC migration will therefore be part of the Optiq migration. Specifically, clients that are currently using the Borsa Italiana colocation services will be contacted to relocate to Aruba.

 

What are the next steps?

How can clients already take action?

In order for our clients to experience a smooth migration of Borsa Italiana markets onto Euronext systems according to the anticipated timeline, we kindly encourage them to secure time, resources and budgets in 2022 and 2023. We are conscious of the efforts required from our clients and thank you in advance.

 

General Documentation

18/05/2023 - Migration Guidelines - Borsa Italiana Optiq Migration V4

26/01/2023 - Borsa cash markets - Reconciliation files 1_0_2

02/02/2023 - Next-EUA Client Test Instruments v5

27/07/2022 - Euronext Borsa Migration - Detailed FAQ V3.0

26/05/2022 - SEDEX and CERTX Functional User Group Slides

26/05/2022 - Trading Structured Products on Euronext RFE Market Model Q&A

Optiq Documentation is available on the Connect website

MDGLite service

25/05/2023 - Euronext Optiq Market Data Gateway MDG Lite - Production Connectivity v1.1

14/04/2023 - Euronext Optiq Market Data Gateway MDG Lite - External User Acceptance environment v 1.2

06/10/2022 - Euronext MDG Lite Client Specifications - v1.1

06/10/2022 - MDG Lite Binary SBE Input

Technical & functional documentation

31/03/2023 - Guide to Trading System - Borsa Italiana Migration to Optiq - Functional Changes V1.2

 

Production Check-Lists

Webinars

05/10/2022 - Borsa Italiana Integration - Migration Update and Testing Kick-off

29/06/2022 - Impacts for clients on legacy Euronext markets

14/06/2022 - Borsa Italiana Integration - General Guidelines for Migration

09/02/2022 - Borsa Italiana Optiq Migration - Sequencing & Functional Highlights

15/12/2021 - Borsa Italiana Optiq Migration - High Level Timeline & Client Support

 

Explanatory Note for Colocation documentation

Euronext Colocation Services - Price List Addendum Temporary Fee Scheme

Euronext Colocation Services - Documentation & Price List

The power of Optiq

https://www.youtube.com/watch?v=6z-3872etsQ&t=62s