Strategic Direction and Project Roadmap
- What are the key reasons for transitioning from BTS2 to the new BTS3 ecosystem?
- Who will be impacted by the transition from BTS2 to BTS3?
- How was the new trading system selected, and what criteria were used?
- What are the project timeline and key milestones leading to BTS3? Can the timeline include the conformance testing schedule?
- What are the migration stages, and who is involved?
- What are the phases of the BTS3 migration?
Technical Architecture and System Performance
- What are the core components of BTS3, and will there be any changes to drop-copy formats?
- Will BTS2 test environments still be available during the BTS3 transition?
- What performance improvements can we expect from BTS3?
- Does the new engine introduce enhanced automated pre-trade risk filters or "fat-finger" checks at the exchange level?
- How are circuit breakers and "Limit Up/Limit Down" mechanisms configured in BTS3 compared to BTS2?
- How does the BTS3 handle CDS balance verification to reduce latency?
Market Operations and Connectivity
- What are the key functionalities of BTS3?
- Is BTS3 designed to support a move to a T+1 settlement cycle?
- What operational changes to the market opening procedure should participants be aware of in BTS3?
- Will market data licensing policies be revised, or will they remain unchanged?
- Will BTS3 support Client Amendment functionality?
- Will BTS3 introduce new messaging protocols, and what is the timeline for POs to update their order management systems?
Ecosystem Integration and Compliance
- Beyond the "CDS balance checking" mentioned in the sources, how will BTS3 integrate with the clearing house systems to ensure seamless straight-through processing (“STP”)?
- How will BTS3 handle reference price adjustments for corporate actions (e.g., bonus issues and splits) during the transition period?
- Will there be a parallel period between BTS2 and BTS3 in the production environment?
- Will the transition impact the format or frequency of regulatory and transaction reporting required by POs?
Participant and ISV Onboarding
- Will dealers and remisiers be required to complete a formal trade certification programme to operate BTS3?
- Will Bursa discontinue ISV certification for BTS2 after Sept 2026? What is Bursa’s guidance on onboarding of new ISVs?
- Will ISVs need to be re-certified for BTS3? If so, what is the timeline?
- What are the criteria for POs, ISVs, and IVs to be considered technically ready for cutover?
Support, Continuity and Go Live
- What training programmes and technical materials will be provided to help staff at POs, ISVs, and IVs become proficient with BTS3?
- Will there be dedicated “Train-the-Trainer” sessions or digital learning modules available to help stakeholders onboard their internal teams?
- What support channels will be available for reporting and resolving system issues?
- Will POs be required to participate in mandatory industry-wide disaster recovery (“DR”) simulation exercises before go-live?
- What happens if we are unable to meet the given timeline? Can we continue to access BTS2 until we are ready? What contingency plans are in place?
- In the unlikely event of a critical failure during the launch weekend, what is the "Point of No Return" and the specific procedure for failing back to BTS2?