Cash Market Readiness Newsflash | Emergency Communication Protocols and Best Practices
Cash Market Readiness Newsflash | Emergency Communication Protocols and Best Practices Cash Market Readiness Newsflash
While we strive to maintain high availability of the T7 trading system for the markets Xetra and Börse Frankfurt, we want to ensure our Trading Participants are well prepared for the rare occurrence of incidents. Therefore, along with the T7 Emergency Playbook, we publish Newsflash messages on a regular basis to summarize the handling of various special incidents or to provide more general incident handling information.
This Newsflash outlines the Exchange's emergency communication protocols during (partial) unavailability of the T7 trading system and shares recommended best practices.
1. Overview of emergency communication channels and procedures by the Exchange
If the T7 trading system becomes partially or fully unavailable due to technical issues, we are committed to delivering timely, accurate, and consistent updates to market participants. The emergency communication channels are outlined as follows:
a) The T7 trading system automatically generates emergency information messages
The T7 trading system is designed to recognize certain issues (e.g. Partition Specific Gateway failure) and will provide immediate notification of a potential technical issue. These messages are available via the Xetra website www.xetra.com on the Xetra Newsboard and the T7 GUI News Board (if T7 is available).
b) Emergency information message after initial analysis and verification
When a potential technical issue occurs, the Exchange allocates resources to investigate the situation. After determining the root cause, resolution measures are initiated. The Exchange communicates with market participants about the incident via the Xetra website on the Xetra Newsboard and via the T7 GUI News Board (if T7 is available), as well as e-mail and SMS, both available through a subscription service.
Additionally, the "traffic light" indicator in the lower right corner of the Xetra website indicates the severity of the issue for the Cash market. While the Exchange aims to deliver messages promptly through these channels, timely delivery cannot be guaranteed in all cases due to dependencies on third-party providers, particularly for SMS.
c) Regular updates until resolution
We recognize the importance for Trading Participants to receive consistent and timely communications from the Exchange to maintain clarity regarding the status of an incident. Trading Participants will be provided with ongoing updates approximately every 30 minutes following the initial emergency notification until the matter is fully resolved. These updates will be communicated via the same channels referenced in point 1 b) above.
d) Trading resumption/final resolution message
Upon resolution of the technical issue, the Exchange sends a communication regarding either the resumption of trading (if relevant) or a final resolution message, using the same channels as described in point 1 b) above.
2. Best Practices
Furthermore, to emphasize the standard emergency communication channels and procedures of the Exchange, we would like to provide the following information as recommended best practices:
- For the initial notification about a potential issue on the Exchange, please monitor the automated T7 messages (see point 1 a).
- To facilitate timely and reliable receipt of emergency communications issued by the Exchange, we recommend utilizing all available communication channels (see point 1 b). To subscribe to emergency notifications via SMS or e-mail, please complete the electronic form located in the Member Section of Deutsche Börse Group under: My Profile > Emergency Notifications.
- To ensure our functional and technical helpdesks can focus on resolving critical issues efficiently, we kindly ask clients to first seek the information provided on our channels. Relevant updates on the emergency are always shared publicly and fairly with all Trading Participants as soon as possible on the known channels.
3. Further information
For further information, please refer to the document “T7 Emergency Playbook Incident Handling” available on the Xetra website under the following path:
If you have questions or comments, please do not hesitate to contact Cash Market Operations via tel. +49-69-211-1 14 00 or cmmarketcontrol@deutsche-boerse.com.
Kind regards,
Your Client Services Team
Further information