Integrating with the NGM exchange

Service providers, independent software vendors, market data vendors, and members are welcome to integrate directly with the NGM exchange.Trading systems, market making systems, market data systems and back office systems integrate with NGM Elasticia over the NGM FIX/FAST protocol. Other services that only need occasional snapshots of market information may also integrate with the Elasticia MDAPI service.

Overview of the protocol access points

Elasticia provides a private and a public service that participating systems connect to. Trading is conducted utilising the private service and market information is provided through the public service.

The following standard protocols are used – for both the private and the public service:

  • FIX 5.0 Service Pack 2 for application level messages.
  • FIX session protocol FIXT 1.1 for maintaining FIX sessions.
  • FAST 1.1 (FIX Adapted for STreaming) is used for encoding FIX messages, meaning that the traditional ASCII encoding (“Tag=Value”) is not supported.
  • FAST SCP 1.1 (Session Control Protocol), level 2 (hello, alert and reset messages) is used for managing FAST sessions.
  • TCP is used as the underlying reliable transport protocol.

Requirements for production system access

In order for a system to be allowed to connect to the NGM production system, the system must have passed the conformance test, which is conducted by the integrator together with NGM Technical Support.

Guideline for new integrators

The following steps apply to integrators:

  1. Request the technical specifications from NGM Technical Support
  2. Order a test account from NGM Technical Support
  3. Request a conformance test session with NGM Technical Support
  4. Pass the conformance test
Once the system has passed the conformance test, the system can be used by market participants to connect to the NGM exchange in production.
If you are interested in getting more information on requirements, protocols etc, please contact NGM Technical Support.

Recurring updates of integrated systems

Integrators and participants should expect mandatory system updates two to three times a year.

  • The roll out of releases are normally performed during weekends.
  • Mandatory protocol releases are normally announced at least three months in advance.
  • Instrument schema (instrument description) releases may be released with less heads up than protocol releases and NGM encourages all integrators to automate the management of the instrument schema as we aim to remove the lead time between announcement and release of a new schema.
Apart from the mandatory releases/releases that will have an impact on integrating systems, NGM may also roll out releases that does not affect the integrating systems.