EP3® Update Highlights May 2025:
We are continually enhancing the functionality and performance that EP3 offers Exchange Operators. In response to customer feedback and our internal product roadmap, EP3 now supports the following:
FIX Order Gateway and Trading API Enhancements
Exchange Operators can now restrict the Order Execution Instructions (such as Participate Don’t Initiate) available to their customers. This allows the Exchange Operator to align the available Execution Instructions with market expectations or the exchange rule book.
Performance Updates
The EP3 Order Manager (which manages order state) starts up significantly faster. This allows this component to upgrade faster and recover faster in case of an exception.
The Trading API, that provides market access, was improved to validate accounts faster reducing critical path order latency.
The Admin API, that allows Exchange Operators to manage the exchange, was improved to return snapshots of an instrument’s unaggregated book faster.
Several end-of-day and real-time market surveillance alerts were improved to execute faster in order to accommodate exchanges with extremely heavy order volumes.
General Enhancements
Exchange Operators can now configure their tradable instruments to include a Start Time in addition to a Start Date. This allows Exchange Operators more flexibility in designing when their instruments start trading and expire within a trading schedule.
Filtering of Accounts and Users was enhanced to include the ability to search for accounts not associated to a user and vice versa.