WATS - Migration approach

Characteristics of GPW WATS in the eUAT EQX environment

Services: FIX Port, Binary Port, Drop Copy, Market Data, CCP Gateway
Database modeled on the WSE production markets and the additional market "X" (multimarket)
Trading parameters modeled on the WSE production markets
Available instruments from the stock and bond markets
Calendars and test session schedules corresponding to session times in UTP

Interaction:

The WSE will provide a detailed parameterization document of the test environment (products/instruments/market structure/trading parameters)
The WSE will generate traffic in the order book on selected instruments from the WSE and X markets, taking into account the division of orders into shares and bonds
WSE will provide a stream on Market Data (Full Depth and BBO (10 levels)) consistent with the generation of orders and test events (including transactions)

Other:

In the period until February 2024, sessions will be run on a permanent database
No daily database update vs. production changes to UTP
No next day reference rate updates
Orders with a longer validity period (>T+1) for the next session will be technically deleted (no messages about order deletion to participants)

Multimarket, MultiAsset
Stock and bond market
Bonds - Pricer (automatic calculation of settlement value)
CLOB segments
Available order types: Limit, Market, Market to Limit
TIF: GTD, GTC, GTT, IOC, FOK, VFA, VFC
Others: Iceberg, Stop
Session and settlement calendar (identical, consistent with the real session calendar)
Trading day schedules (appropriate to the trading model and segment)
Pre Trade and Collars (test settings)
Tick Table (compliant with ESMA and market regulations)
Throtling (Set at connection stage)
Drop Copy (Range orders, orders & trades - set at the connection stage)
Cancel on Disconnect (Set at the time of connection)
CCP – generation of TCR messages for each transaction

Migration approach