Description

BSE launches pilot program for enhanced trade drop copy distribution via Solace messaging platform for Equity Derivatives segment with advanced filtering capabilities.

Summary

BSE has developed a new enhanced trade drop copy solution using the Solace messaging platform as an optional facility for trading members. This pilot launch is limited to 10 members in the Equity Derivatives segment on a first-come, first-served basis. The new system replicates traditional drop copy functionality via ETI protocol with additional enhancements including multiple filtering criteria (Session ID and CP Code). The existing trade drop copy facility (circular 20231201-39) remains operational without changes.

Key Points

  • New trade drop copy distribution system built on Solace messaging platform
  • Members can connect applications using Solace framework API
  • Enhanced filtering capabilities: Session ID and CP Code
  • Pilot launch limited to 10 members in Equity Derivatives segment only
  • Selection on first-come, first-served basis
  • Existing drop copy service continues unchanged
  • Phased rollout approach - may extend to other members/segments based on performance
  • Members must develop applications to receive trade data

Regulatory Changes

No regulatory changes. This is an optional technological enhancement to existing infrastructure.

Compliance Requirements

For Interested Members:

  • Develop applications compatible with Solace framework API for receiving trade data
  • Send expression of interest to bse.tech@bseindia.com
  • Provide feedback on performance during pilot phase
  • Contact technical support for queries: 022-2 2728053 or bse.tech@bseindia.com

Note: Participation is entirely voluntary and limited to 10 members initially.

Important Dates

  • Notice Date: October 15, 2025
  • Application Deadline: Not specified (first-come, first-served until 10 members selected)
  • Pilot Duration: Not specified

Impact Assessment

Market Impact: Minimal. This is an optional pilot program affecting only voluntary participants.

Operational Impact: Low for non-participants as existing systems remain unchanged. Participating members gain access to enhanced trade data distribution with better filtering and control capabilities.

Technology Impact: Positive for participants - improved flexibility in trade data dissemination through modern messaging infrastructure. The Solace platform offers more granular control compared to traditional ETI protocol drop copy.

Scope: Currently limited to Equity Derivatives segment with potential future expansion based on pilot results.

Impact Justification

Optional pilot program for select members, does not mandate changes, existing drop copy facility continues unchanged