Trading venues shall assess whether the capacity of their trading systems remains adequate when the number of messages has exceeded the historical peak.
After each assessment, trading venues shall inform their competent authority about any measures planned to expand their capacity or add new capabilities together with the implementation timeframe of such measures.
Trading venues are required to ensure that trading systems have sufficient capacity to accommodate at least twice the historical peak of messages expressed as the highest number of messages per second recorded on that system during the previous five years.
Where the historical peak has been exceeded, the trading venue is required to undertake a new capacity assessment and inform the FCA about any measures planned to expand capacity or add new capabilities, together with the implementation timeframe of such measures.
There is no prescribed form in relation to these types of notification. As such, notifications should be made by email to the usual supervisory contact or the MTF / OTF supervision team at MTFsupervision@fca.org.uk.
Organisations must ensure trading systems have capacity to meet twice historical peak, based on the following:
We will work with you to address the Capacity Management activities outlined here; we’ll help you to determine how ready you are to implement these steps effectively, and then assist you in running and implementing the required activities.
We will review your organisation’s effectiveness against the following MiFID II Capacity Management requirements:
If some or all of the data is available, this service can then be extended to review the current usage, which would involve:
We deliver this service on a fixed price basis, which will be determined based on the size and complexity of the study to be undertaken. However, this is likely to be in the range of £3 - 10k, and usually lasts 2-4 weeks.
A bespoke set of services will be created to address your specific requirements and will include some or all of the following activities: