Some decent size changes are afoot at the ICE. Right now your trades may be flowing into your trading and risk system just fine. But be sure to check out and see if your ICE test environment is still flowing trades. If not it is because ICE upgraded their Test environment to the new method last month. Production will be upgraded soon.
There is a New Release
ICE is releasing its UDS functionality. This is really cool actually. Let’s say a trader wants to trade a “User Defined Spread.” For example, a trader wants to do a spread between two different products. It’s now really easy for the trader to create a User Defined spread and list it on the exchange so others can trade with her.
There Are Gotcha’s
-Of course, don’t wait for the production upgrade for your trade feed to break.
-If your traders begin trading UDS there is a risk your ETRM may choke on them if not configured correctly. Think about this. Let’s say a trader comes up with a Brent v. Cotton spread (for whatever reason). If your ETRM is configured to only take listed spreads as a single leg (as opposed to the underlying legs), you operations team is about to have a bad, bad time.
-The other big gotcha has to do with the ICE Daily Security Definition File. This is the full suite of products that are trade-able for tomorrow’s business. The bad news? If you take the whole file its really big now. Just over 1 GB. Just make sure you take this big file into account. 1 GB files get cumbersome and will require some purge process.
This is kind of a big upgrade. Plenty of pitfalls. Drop us a line.