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OSLMIT 602 Network Guide The Oslo Børs cash equities and fixed income markets migration to Millennium Exchange OSLMIT 602 Network Guide Issue 1.0 23 February 2012 Important note This document has been produced by Oslo Børs to assist customers of the Oslo Børs markets throughout the migration to Millennium Exchange. Part of the documentation is based on documentation from Millennium IT and the London Stock Exchange Group. Where the document title includes a number (i.e. OSLMIT 201), the number corresponds to similar documentation from The London Stock Exchange and/or from Borsa Italiana. For more details, please see references in the appendix. If you have any general queries relating to this document, please email: [email protected] Further copies of this document can also be downloaded from the Oslo Børs website at the following link: http://www.oslobors.no/ob_eng/Oslo-Boers/Trade/Delta/Millennium- Exchange/Technical-documentation Disclaimer This document has been prepared on the basis of the best information available. Oslo Børs has taken reasonable efforts to ensure that the information in this publication is correct at the time of publication, but shall not be liable for decisions made in reliance on it. Oslo Børs will seek to provide notice to customers of changes being made to this document, but this notice cannot be guaranteed. Therefore, please note that this publication may be updated at any time. The information contained is therefore for guidance only. This document does not form part of the contractual documentation between the Oslo Børs and its customers. Oslo Børs | OSLMIT 602 Network Guide 2 Change log This document can be updated at any time, and has been through the following iterations: Issue Date Description 1.0 23 February 2012 Initial document release Please note that only the latest issue of this document will be available from the Oslo Børs website. Details of the changes made in each issue of the document are described in the appendix. Oslo Børs | OSLMIT 602 Network Guide 3 Content Important note ................................................................................................................... 2 Disclaimer .......................................................................................................................... 2 Change log ......................................................................................................................... 3 Content .............................................................................................................................. 4 1. Introduction ................................................................................................................. 5 1.1 Purpose ................................................................................................................ 5 1.2 Readership ............................................................................................................ 5 1.3 Document series .................................................................................................... 5 2. Technical Configuration ................................................................................................. 7 2.1 Service Description ................................................................................................ 7 2.2 Network Connectivity ............................................................................................. 8 Multicast: ........................................................................................................................ 9 Unicast: .......................................................................................................................... 9 2.3 Network Recommendations ..................................................................................... 9 2.4 Customer IP Addressing ......................................................................................... 9 2.5 Traffic Flow Diagram ............................................................................................. 10 2.6 Bandwidth and Buffers .......................................................................................... 11 2.7 Failure Documentation .......................................................................................... 11 Appendix 1 – Issue updates ................................................................................................. 13 Issue 1.0 – Released 23 February 2012 ............................................................................. 13 Appendix 2 – References ..................................................................................................... 14 Oslo Børs | OSLMIT 602 Network Guide 4 1. Introduction Oslo Børs is migrating its equity and fixed income trading from the TradElect/Infolect platform to Millennium Exchange, a flexible, highly scalable trading platform with ultra- low latency from MillenniumIT, a part of the London Stock Exchange Group. Oslo Børs aims to strengthen its competitive position by migrating to this new technology, and is pleased to offer customers a trading system of the highest standard that offers all the functions one might expect from a state-of-the-art trading platform. The migration to a new trading platform for the Oslo Børs equities and fixed income markets will require both market participants and their technical suppliers to make a number of changes to their systems. As a part of the migration process, Oslo Børs will publish a series of documents covering different aspects of the technical changes related to the migration to Millennium Exchange. 1.1 Purpose The purpose of this document is to serve as a guide to the network service provided with Millennium Exchange. 1.2 Readership This document is meant to be an advisory guideline, based on experiences made by the LSE during their operation of the Millennium trading system. It is important to note that trading systems are highly dynamic and forecasting is difficult. It is important to plan the infrastructure to be flexible and scalable if rapid changes should occur. This document is particularly relevant to technical staff within the Oslo Børs members, information vendors and network providers. 1.3 Document series This document is a part of a series of documents providing a holistic view of full trading and information services available from Oslo Børs post the migration to the Millennium Exchange platform. The current series of documents are outlined below: General OSLMIT Oslo Børs Market Model Equities OSLMIT Oslo Børs Market Model Fixed Income Trading OSLMIT201 Guide to New Trading system OSLMIT202 FIX Trading Gateway (5.0 SP2) OSLMIT203 Native Trading Gateway OSLMIT204 Post Trade Gateway (FIX 5.0 SP2) OSLMIT205 Drop Copy Gateway (FIX 5.0 SP2) Market Data OSLMIT302 FIX/FAST Gateway OSLMIT303 ITCH Gateway OSLMIT306 FIX/FAST News and Indices Gateway OSLMIT401 Reference Data Oslo Børs | OSLMIT 602 Network Guide 5 Other OSLMIT501 Testing OSLMIT502 Guide to Application Certification OSLMIT504 Guide to Customer Enablement OSLMIT601 Guide to Trading Services Disaster Recovery OSLMIT602 Network Guide OSLMIT603 Business Parameters OSLMIT604 Technical Parameters OSLMIT605 Live Environment Connectivity OSLMIT606 CDS Environment Connectivity The latest version of this documentation series can be found on: http://www.oslobors.no/ob_eng/Oslo-Boers/Trade/Delta/Millennium-Exchange/Technical- documentation Oslo Børs | OSLMIT 602 Network Guide 6 2. Technical Configuration There will be need for some network infrastructure changes as a part of Oslo Børs migration to facilitate the new and faster trading system, Millennium Exchange. Parts of the changes will also introduce new functionality to reduce the need for re-requesting of lost messages. 2.1 Service Description The Millennium trading system will require a faster and more reliable infrastructure to facilitate the speed and functionality in the system. The system will use UDP multicast for fast distribution of feed data, and TCP/IP unicast for trading, re-request and other two- way communications. Due to the fact that a faster system will lose more messages on a short interval than a slower system, the Millennium system introduces a new fail restrictive action for preventing customer loss of multicast feed data. The principal behind this solution is to give all connecting clients access to two identical streams and continuous streams of messages. If a message is lost on one stream, it can be retrieved on the other stream. This will decrease the latency added for customers when re-requesting lost messages, and the trading system will spend less computing power serving re-requests. Oslo Børs | OSLMIT 602 Network Guide 7 2.2 Network Connectivity Figure 1. A and B path. Oslo Børs | OSLMIT 602 Network Guide 8 Multicast: Millennium introduces two identical diverse multicast data streams so that, if implemented correctly, the need for re-requests from the trading applications should be reduced. The two simultaneous message streams (A- and B-stream) will be delivered to each customer through their network provider. The member should make an effort to keep the network paths for the A- and B-streams separate all the way to their trading applications to gain full benefit from this implementation. Multicast IP addresses for A- and B-stream will be provided later. Unicast: There will be no changes from TradElect in the way TCP unicast is implemented other than new IP addresses. 2.3 Network Recommendations It is recommended that the A- and B-streams have separate,
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