Description

BSE launches pilot program for enhanced trade drop copy distribution via Solace messaging platform for Equity Derivatives segment, limited to 10 members on first-come, first-served basis.

Summary

BSE has developed an enhanced trade drop copy solution using the Solace messaging platform to distribute trade data to members. This new facility replicates the traditional drop copy service via ETI protocol with additional enhancements including multiple filtering criteria (Session ID and CP Code). The solution will be launched as a pilot program initially for the Equity Derivatives segment with a maximum of 10 participating members selected on a first-come, first-served basis. The existing trade drop copy facility (circular 20231201-39) will continue to operate without any 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 including Session ID and CP Code filters
  • Phased rollout starting with pilot program in Equity Derivatives segment only
  • Limited to 10 members on first-come, first-served basis
  • Existing trade drop copy facility remains unchanged and available
  • Participation requires members to develop applications for receiving trade data
  • Future expansion to other members/segments depends on pilot performance and usability outcomes

Regulatory Changes

No regulatory changes. This is a new optional technical facility being introduced alongside existing services.

Compliance Requirements

For Interested Members:

  • Develop applications capable of receiving trade data via Solace framework API
  • Send expressions of interest to bse.tech@bseindia.com
  • Provide feedback regarding performance during pilot phase

Participation is voluntary and limited to 10 members.

Important Dates

  • Notice Date: October 15, 2025
  • Pilot Launch: Effective immediately (first-come, first-served enrollment)
  • No specific deadline mentioned for expressions of interest

Impact Assessment

Market Impact: Minimal - This is an optional technical enhancement that does not affect market operations or trading rules.

Operational Impact: Low to Medium for pilot participants who will need to develop and integrate applications using the Solace framework API. No impact on members who choose not to participate.

Technical Benefits: Enhanced flexibility and control over trade data dissemination through advanced filtering options (Session ID, CP Code). Provides modernized infrastructure alongside traditional ETI protocol-based service.

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

Contact Information:

Impact Justification

Optional technical enhancement for limited pilot participants; existing trade drop copy facility continues unchanged; no market-wide impact or compliance requirements