- 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?
- What are the key risks in the BTS3 implementation, and how will they be managed?
- Will EUAT and Industry-Wide Testing (IWT) be available throughout the week?
- How will the migration affect real-time market data delivery? Will there be changes to data formats (e.g., ITCH/Glimpse) or bandwidth requirements for higher data volumes? Will the new ITCH feed provide a full order -by-order book?
- Will there be any changes for clients using Direct Market Access (DMA)?
- When will the connectivity setup be confirmed? Will it use TCP or Multicast?
- Will multicast market data access be available for data vendors?
- Will the “White Room” service seamlessly include access to BTS3? NB: Available to POs and Authorised Direct Members only.
- Will Self-Match Prevention (SMP) be based on the beneficial owner or end-client identity, or the fund manager identity?
- If an order is rejected due to SMP, what will happen to the remaining quantity in the order?
- Will SMP reject the whole order or allow partial execution?
- Does the Self-Match Prevention (SMP) feature apply to retail investors, institutional participants, or both?
- Will Regulated Short Selling (RSS) functionality have additional features such as SMP-related controls?
- Should SMP apply only to market trades and not DBT trades?
- Will SMP-enabled accounts experience additional latency?
- Will Bursa provide rejection error codes and explanations for SMP-related rejections?
- Will odd lots be allowed for On Market Married Transaction (OMMT) orders in BTS3?
- If the minimum quantity is increased to 2 million shares, can OMMT orders also be 2 million shares?
- Will the mass cancellation feature available in BTS2 continue to be available in BTS3?
- Can increased order quantity limits be configurable by stock or market segment?
- Can order quantity limits be increased based on price range?
- Will there be any charges for API usage?
- What changes will be introduced to the Authentication Login and Password Management mechanism?
- Will participants be required to implement additional security controls for the password management API, such as mutual TLS (mTLS), certificate-based authentication, IP whitelisting, or multi-factor authentication (MFA)?
- Can Bursa reconsider the proposed DBT cancellation arrangement, especially for errors discovered close to the 5.15 p.m. cut-off?