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Notice
As advised in ASX Notice 0921.24.08, ASX is currently in the process of updating the existing Security Type 33 description (Traded Managed Fund – High Denomination) to a high denomination Security Type to accommodate higher price trading (prices of $1,000 and above) in ETFs: Security Type 33 (High Denomination ETFs).
ASX proposes to change the current Security Type for the SPDR S&P 500 ETF Trust (ASX: SPY) from Security Type 07 to the High Denomination Security Type 33 in production (via a corporate action currently targeted to commence 21 October 2024).
Customer testing in CDE+
In order to ensure that Participants, Vendors and data consumers have correctly configured the existing Security Type 33 to consume and process prices quoted in dollars rather than cents, ASX will make the updated security type available to test in the CDE+ test environment on 20 September 2024.
ASX will be moving the Security code SPY (SPDR S&P 500 ETF Trust) to the revised high denomination Security type 33 to allow testing of order entry and trade confirmation in the correct denomination.
When a Normal Denomination security’s price level approaches the maximum tradeable value, the Security Type of that security must be changed to a High Denomination Security Type to allow for trading to continue at price levels greater than A$999.999999 (and less than A$99,999.99).
To assist customers in testing this change, please see the attached test file (E02 - MasterList) containing the future SPY security type change.
Order entry, price displays and trade execution should account for the change as described below:
Security Types |
Normal Denomination (e.g. Type 07) |
High Denomination (e.g. Type 33) |
Format |
Expressed as cents to four decimal places |
Expressed as dollars and cents to four decimal places. |
Maximum value price field |
99999.9999 cents
|
$99,999.9999 |
Example format at $987.65 |
98765.0000 |
987.6500 |
What do I need to do by when?
Participants, Vendors and data consumers are strongly encouraged to test order entry, trade confirmation and price display configurations in their systems connected to the CDE+ environment to ensure they are correctly displaying and consuming the higher denomination on the ASX:SPY security.
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Issued by
Market Operations