3rd Market Dress Rehearsal Brief

1
3rd Market Dress Rehearsal Brief

• 2 May 2002

2
Countdown
Jarrow Count Down To Go Live as at 2nd May
2002 Just 11 Total Days 7 JSE Business Days
Remaining
3
A Special Note of Thanks

• The JSE would like to thank all users for the
  effort and time taken to participate in both the
  First and Second Dress Rehearsal
• Overall the 2nd Dress Rehearsal went extremely
  well and the participation and adequate
  preparation by all Users was an important
  contributor to this success
• The Dress Rehearsal met the objectives in
  relation to allowing for
• Practice
• Highlighting key issues
• Identifying readiness for Go Live
• The purpose of these Dress Rehearsals is to build
  user confidence in their ability to participate
  effectively in the new environment after Go Live
  
• It is in the interest of both the market and the
  users to participate in the remaining Dress
  Rehearsal in order to achieve market readiness
  and build market confidence to Go Live

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Project Timeline
2001
2002
June
Aug
Oct
Sept
Feb
Jan
Dec
Nov
July
Mar
April
May
4/6/01
3/8/01
JSE Design
19/10/01
6/8/01
JSE Development
4/6/01
19/10/01
JSE Build and Test of
Technical
Infrastructure
22/10/01
JSE/LSE Prepare and Execute
Integration Test

18/01/02
4/6/01
3/8/01
9/11/01
Prepare and Execute Business Operations Proving
12/4/02
21/1/02
Design of JSE Front End Solution
Build and Test of JSE

Front End Solution
2/03/02
LCON
16/03/02
Design, Build and Test of Data Vendor / Member


Front End Solution
LCON
27/6/01
18/01/02
30/03/02
LCON
13/4/02

1st DR
27/04//02

2nd DR
31/03/02
18/7/01
27/6/01
4/6/01
JSE / LSE Draft Spec
JSE / LSE Final Spec
Prepare and Execute Customer Test
26/11/01

4/05/02
3rd DR
Go-live
We are here!
5
3rd Market Dress Rehearsal Brief
Agenda

• Objectives
• Principles
• Deployment Timeline
• Lessons Learnt
• Participation and Responsibility
• Test Schedule
• Other
• Questions

6
3rd Market Dress Rehearsal Brief
Agenda

• Objectives
• Principles
• Deployment Timeline
• Lessons Learnt
• Participation and Responsibility
• Test Schedule
• Other
• Questions

7
Objectives
How were the previous Dress Rehearsal Objectives
met?
8
Objectives
How were the previous Dress Rehearsal Objectives
met?
9
3rd Market Dress Rehearsal Brief
Agenda

• Objectives
• Principles
• Deployment Timeline
• Lessons Learnt
• Participation and Responsibility
• Test Schedule
• Other
• Questions

10
Principles
How were the previous key Dress Rehearsal
Principles met?
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3rd Market Dress Rehearsal Brief
Agenda

• Objectives
• Principles
• Deployment Timeline
• Lessons Learnt
• Participation and Responsibility
• Test Schedule
• Other
• Questions

12
Deployment Timeline
April
May
March
3 Apr
DR 1 Brief (JHB)
2 May
3rd DR Brief
LCON 1
4 Apr
DR 1 Brief (CT)
Sat2 Mar
Dress Rehearsal 3
Sat/ Sun4-5 May
JSE LSE Internal Dress Rehearsal
Sat6 Apr
Final Cut-Over Brief (JHB)
8 May
LCON 2
Sat16 Mar
Sat/ Sun13-14 Apr
Dress Rehearsal 1
Go-live
13 May
17 Apr
DR 2 Brief (JHB)
JSE LSE ASR Test
17 May
President Mbeki launch
Sat23 Mar
18 Apr
DR 2 Brief (CT)
Commemorative insert in Star and Beeld
20 May
Dress Rehearsal 2
Sat/ Sun27-28 Apr
LEGEND LCON Live Connectivity Testing DR Dress
Rehearsal CONT Contingency ASR Alternate Site
Recovery (LSE) Internal External
Tests completed
LCON 3
Sat30 Mar
JHB Brief
CT Brief
JSESETS Launch
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3rd Market Dress Rehearsal Brief
Agenda

• Objectives
• Principles
• Deployment Timeline
• Lessons Learnt
• Participation and Responsibility
• Test Schedule
• Other
• Questions

14
Lessons Learnt
Technical Key Areas of concern -
15
Lessons Learnt
Technical Key Areas of concern (continued)-
16
Lessons Learnt
Other key issues-

• Lack of testing by ALL Users in test environment
  post conformance LCON
• Lack of user understanding of principal / agency
  rules and how to apply these to the various trade
  types e.g. OP principal trade
• Not all users attended and clearly understood
  conceptual trading model training Users should
  undertake refresher training on their own using
  the conceptual training tool on the JSE website.
  CDs available in toolkits
• Lack of accurate problem reporting to Customer
  Support, users to provide detailed information
• Incorrect user contact details supplied to JSE
  to improve communications JSE requires correct
  contact details
• Users should have print-outs of all configuration
  files to assist with problem resolution

17
Lessons Learnt

• Level of invalid data was extremely high. Trader
  reports were sent with results, please confirm
  these. ALL RST trader IDs not used during dress
  rehearsals will be deleted on 10th May and users
  will need to re-write the JSE exams to gain RST
  status. This remains the brokers responsibility
• Invalid trader IDs submitted on orders and trade
  reports. ONLY JSE assigned RST codes are valid
  5 numeric digits (as per existing JET logon)
• Invalid BDA client accounts submitted on ALL
  orders and trade reports. These should be padded
  with leading zeros. e.g. if BDA client account is
  23570, then 0023570 to be submitted. Failure to
  do this results in excessive back office
  administration on BDA to correct re-allocations
• Incorrect use of trade types on reported trades.
  Trade types apply across all segments, members
  must ensure they submit valid trade types per
  market. E.g OP only valid in segments ZA01,
  ZA02, ZA03
• Orders carried forward to next day - some members
  complained that their orders were not carried
  forward to the next day. Most orders were hit,
  users should test this in CDS

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Lessons Learnt

• InfoWiz Key Issues-
• User applications can and should automatically
  re-request missed messages intra day. No need to
  notify Customer Support of this.
• User Applications should send one request for a
  range of missed messages i.e. if messages 2,3,4
  and 6 are missing this should result in 2
  requests not 4
• Users applications should be built so that
  re-request data is satisfied by either the IRI
  connection or via the broadcast interface
• General-
• CDS reference data re-synchronisation. Reference
  data, SENS messages and Index data are all
  updated. Period rules in progress
• Unfacilitated playtime on TALX at the JSE may be
  booked through the JSE online booking tool.
  Playtime is available from Mon 06 May Fri 10
  May from 13h00 16h00 pm

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Dress Rehearsal Improvements

• Users were better prepared for this test
• Extranet message usage was effective
• Account manager concept was well received
• Effective use of email groups
• JSE Infrastructure stable
• Access for all JSE staff to logging tool helped
  resolve issues timeously

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3rd Market Dress Rehearsal Brief
Agenda

• Objectives
• Principles
• Deployment Timeline
• Lessons Learnt
• Participation and Responsibility
• Test Schedule
• Other
• Questions

21

3rd Dress Rehearsal Participation

• MANDATORY Participation is required during the
  next Saturday live trading day simulation from -
  (except for users who have passed 2 tests)
• All JSE and NSX Equities traders 100
  participation in all scheduled DR tests
• All relevant user IT support staff.
  (e.g.networks, applications, PC support etc)
• All information Users who will be
  subscribing to InfoWiz
• All basket trading and client order entry
  applications
• All other user applications interfacing with
  their front-end applications
• The test starts at 10h30 and ends at 18h00
• The traders must participate from 12h00
  15h30
• All primary and backup(on site) terminals
  must be tested
• NOTE From go live, members accept full
  responsibility for all order and trades submitted
  by their traders. Dress Rehearsals facilitate
  testing in a live-like environment.

Checklists must be in Saturday evening after
Dress Rehearsal. Fax [phone] / 8022.
These will be accepted electronically via Email.
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Responsibility
USERS are responsible for ensuring

• They participate throughout the test between
  10h30 18h00 on all the test days
• Full participation from all traders (12h00
  15h30)
• Full participation from all relevant User IT
  support staff (e.g Networks, applications, PC
  support etc)
• Full support from relevant software providers
• Identifying the responsible person per User to be
  used by the JSE as the key contact person. Users
  must provide the contact details to the JSE
  helpdesk by Thursday (2 May) by close of business
  today [phone]
• All Users follow the test plan and schedule -
  PLEASE READ TEST PLAN/SCHEDULE!!!!
• ONLY realistic prices and order details are used
  for all orders failure to do so, will result in
  unnecessary disruptions and potential delays to
  the test schedule. The JSE will be monitoring
  all test data and this behaviour will result in a
  User Dress Rehearsal FAIL!!!!!
• Staff are aware of problem escalation procedures
  to ensure problems logged with the correct
  helpdesk. E.g Front-end queries are logged with
  software providers not the JSE
• All problems are reported and logged with the JSE
  Customer Support [phone]

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Responsibility
USERS are responsible for ensuring (cont..)

• All user test data is removed from their
  production environments after the Dress
  Rehearsals
• All traders have attended conceptual training
  prior to the Dress Rehearsals
• All traders have attended front-end training
  prior to the Dress Rehearsals
• All JSE test scripts and procedures are
  downloaded from the JSE web prior to the test
• That all Users are informed this is NOT a stress
  test and that attention should be given to
  functionality and data integrity. Users are
  responsible for ensuring data accuracy
• Members make use of the JET testing on Sunday to
  ensure they can continue with trading the Monday
  after each test
• Ensuring Users keep track of all actions in the
  event of a problem to assist with problem
  determination
• Relevant monitoring of their infrastructure and
  related applications is performed during the
  dress rehearsals

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Responsibility
JSE is responsible for ensuring

• Support will be through the JSE Customer Support
  helpdesk
• All queries are allocated a reference number
• Ensure all queries are addressed and resolved
• First line support for all TALX related queries
• Monitoring of all test data and Users to ensure
  compliance with the test schedule and scripts
  (including errors generated by Users)
• Monitoring errors generated by users
• Test schedule execution and adjustments as
  required watch the market messages for
  adjustments
• Evaluate Dress Rehearsal participation and
  success and GO LIVE readiness
• Contact Number during test
• JSE Customer Support [phone]

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Problem Reporting
To assist with effective problem resolution,
Users must provide accurate details when
reporting the query/problem to the JSE helpdesk -

• Is it a JSE SETS or InfoWiz query?
• USAP Code faster resolution and tracking with
  the LSE
• Is it your primary/secondary/DRP connection?
• Which Front-End Software?
• Which Segment and Instrument the query relates to
• Provide order code and trade code where possible
• Time of order entry / trade execution
• Order details namely, Order type, price, volume
• Your name and contact number for feedback

This is what will be required when reporting
problems once LIVE.
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3rd Market Dress Rehearsal Brief
Agenda

• Objectives
• Principles
• Deployment Timeline
• Lessons Learnt
• Participation and Responsibility
• Test Schedule
• Other
• Questions

27
Dress Rehearsals Schedule
Proposed schedule - under discussion
2
Systems Startup Ref Data Download
Normal Trading Schedule
1
SystemsShutdown
JSE Batch Processing
Saturday
Pre Open
MktClose
11h00
18h00
12h00
15h30 Trader Test end
Checking of Batch Results
2
Sunday
08h00
Software VendorFeedback
Internal JSE/LSE Checkpoint
JSE Prep Session
12h00
08h30
11h00
09h30
SystemsStartup RefData Download
Normal Trading Schedule (partial)
1
NOT AVAILABLE
ContinuousTrading
Pre-Open
06h00
08h30
10h00
Colour Legend

• Trading Schedule will be condensed to fit into
  shorter window (details on next slide).
• Batch processing will be done during the 3rd
  Market Dress Rehearsal (4th May).
• Intraday checkpoints with Users will be indicated
  in the detailed schedule.
• All times reflected are SA standard time (SAST)

JSE/LSE Internal
Notes
JSE User Participation
JSE User Feedback
JSE/LSE Checkpoint
NOT AVAILABLE
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Test Period Schedule
ZA01
ZA02
ZA03
ZA11
12h00
12h05
12h30
14h00
14h30
14h40
14h50
15h00
15h15
15h30
16h40
16h50
17h00
18h00
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Test Schedule Saturday
Certain period names may differ depending on
which segment or sector used in NOTE The early
trading closure will apply to one segment only
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Test Schedule Saturday
Continuous Trading Phase

Halt Early Close 1 segment
14h00 14h30
15h00 (move to runoff for ZA02)
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3rd Market Dress Rehearsal Brief
Agenda

• Objectives
• Principles
• Deployment Timeline
• Lessons Learnt
• Participation and Responsibility
• Test Schedule
• Other
• Questions

32
JSE Systems NOT Available
On these dates no JSE Applications are available
for NORMAL production activity
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Mapping of Success Guidelines Communicated

• User ability to connect and trade
• 100 interactive participation throughout the
  test period
• No excessive re-requests for data during tests
• Adherence to the test schedule and conditions
• Completed and signed test checklists/results
  returned to the JSE
• Completed and signed declaration that
  functionality and data integrity was intact
• Key responsible person identified and
  communicated to JSE prior to test
• Adherence to realistic order details and prices
• Adherence to normal trading and volume activity
  (NB!! NOT a stress test)
• All user participation
• 100 interactive participation throughout the
  test period
• Number of traders logged on
• Order and trade summary of all client
  application trader ids (AOP/AOF)
• Order and trade data generated per trader
• Limited system errors generated by Users in
  system logs
• Error messages generated per user
• All problems logged with JSE Help Desk before end
  of each test day

Connectivity
Test Preparation and Completion of Test
Execution
Suitability of Data Submitted
Level of Participation
Message Success
Used for Information Purposes Only
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Data for Dress Rehearsal

• Test scripts for the next Dress rehearsal
  will have minor amendments
• applied. These are already published on
  the JSE web
• As JSE business processes have kicked in,
  JSE reference data will be as at 3 May
• Users must do a FULL download on all dress
  rehearsals and the morning of go live
• Instruments (incl. warrants) and ex-markers
  expiring before 13 May 2002 have been
• excluded
• On the 3rd Market Dress Rehearsal, the
  following dates will be reset to 4 May 2002
• - instrument effective date
• - participant effective date
• Instruments will be suspended by the LSE as
  at 2 May 2002
• Closing prices as at Thursday 2 May will be
  used for the test users to ensure
• these have been loaded to the front-ends
  prior to the test or provided traders with
• hand-outs. This is only a problem during
  the open auction
• www.jse.co.za / JSE Initiatives / JSE
  Trading and Information Systems
• (Will be there Friday 3 May under the
  Market Dress Rehearsal Documentation bullet)

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Other

• FTSE will NOT be participating and therefore
• No Index data will be published
• No FTSE/JSE index series download will be
  available
• 3rd Dress Rehearsal Outputs available to users
  from 21h00 on Saturday evening-
• BDA dissemination will be available as part of
  the Dress Rehearsal
• JSE EOD dissemination will be available
  (excluding FTSE Fredd Files)

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Questions