Description

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

Summary

BSE has developed a new trade drop copy distribution solution using the Solace messaging platform. This enhanced system allows members to receive trade data with advanced filtering options including Session ID and CP Code filters. The pilot launch is limited to the Equity Derivatives segment with only 10 members on a first-come, first-served basis. The existing trade drop copy facility (circular 20231201-39) will continue unchanged.

Key Points

  • New trade drop copy solution built on Solace messaging platform framework
  • Functionally replicates traditional ETI protocol drop copy with enhancements
  • Multiple filtering criteria available: Session ID and CP Code
  • Pilot limited to Equity Derivatives segment only
  • Maximum 10 members can participate on first-come, first-served basis
  • Existing trade drop copy service remains unchanged
  • Future expansion to other segments depends on pilot performance
  • Members must develop applications using Solace framework API

Regulatory Changes

No regulatory changes. This is an optional technology enhancement offered alongside existing services.

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 and usability during pilot phase
  • Contact technical support at 022-22728053 or bse.tech@bseindia.com for queries

Note: Participation is voluntary and limited to 10 members.

Important Dates

  • Notice Date: October 15, 2025
  • Pilot Launch: Immediate (applications accepted on first-come, first-served basis)
  • No specific deadline mentioned

Impact Assessment

Market Impact: Minimal. This is an optional pilot program affecting a maximum of 10 trading members who choose to participate.

Operational Impact: Low. The existing trade drop copy facility continues without changes. Members can opt into the pilot for enhanced functionality without disrupting current operations.

Technology Impact: Moderate for participants. Members choosing to participate must develop new applications using Solace framework API to leverage the enhanced filtering capabilities.

Segment Coverage: Currently limited to Equity Derivatives segment only, with potential future expansion based on pilot results.

Benefits: Enhanced flexibility and control over trade data dissemination through multiple filtering criteria, providing more granular data management for participants.

Impact Justification

Optional pilot program for limited participants (10 members) with no changes to existing services. Does not affect regular trading operations or impose mandatory requirements.