Friday 1st October 2021 will mark the commencement of ‘Five Minute Settlement’ (5MS). To support this transition, several changes are being made ahead of time, including:
Change #1) From 1st April 2021 (i.e. 6 months prior to the transition), a significant upgrade will be released for the EMMS (to EMMS ver 5.0) to support the change. Amongst other things:
- Bid files will contain offers for all 288 (5-minute) trading periods, rather than the 48 (30-minute) trading periods that has been the case to date.
- The structure of rebid reasons will also change as well.
This is a significant change.
Change #2) As early as 1st April 2021 (i.e. 6 months prior to the transition), Market Participants will be able to submit bids in this new structure, albeit with some caveats until 1st October 2021.
What we are planning to do, to address this, is release two sequential upgrades:
Approx April 2021 – Release Version 9.0
We have considered three significant factors:
- Factor 1 = some of our clients (Group 1) take some time to test new releases of the ez2view before rolling them out to all users
- Factor 2 = other clients (Group 2) will upgrade to MMS 5.0 shortly after it has been made available at 1st April 2021.
- Factor 3 = in the market, there will be some Market Participants who begin submitting bids in the new format as early as April 2021 (Group 3). We expect that most participants will be submitting in the new format well before October.
For these reasons, we are currently working to release version 9.0 around April 2021 to assist both Group 1 and Group 2 above, and to provide visibility for bids of Group 3.
- There will be another Release Note provided when version 9.0 is available.
- We will also endeavour to email all of our clients at that time, as well.
September 2021 – Release Version 9.1
Immediately following the release of version 9.0, we will commence the development of version 9.1.N such that we can add in as much other functionality as we are able prior to 5MS going live on 1st October 2021.
There will be frequent releases of ‘in development’ copies of version 9.1.N prior to September that clients would be welcome to install and use (we’d especially like feedback, as part of our Agile development method).
Shortly before 1st October 2021 we would ensure a more formal release of version 9.1.N is made, complete with updated Widget Guides and so on.
- This will enable those who are faster to roll out software (and upgrade from version 9.0) to have the current functionality.
- This option won’t work for those who take some time to test (or at least, not immediately) – which is one of the reasons we will have version 9.0 available beforehand.
After October 2021 – Develop Version 9.2
We currently envisage that, once we have passed the 1st October 2021 commencement date for 5MS, we’d increment the version number and start releasing version 9.2.N of the software.
At that point we would still be progressing through enhancements on a ‘next highest value to clients’ basis, and would welcome your additions to our list.