There is a synchronous two-way communication that uses the TCP/IP infrastructure between the broadcasting firm (vendor) and the Data Dissemination System (DDS). The DDS transmits the identical data simultaneously to all the vendors that are connected to the isolated network specifically developed for this project by using the “multicasting” technique.
There is also a retransmission service available for recovering lost message. The Retransmission Service sends the lost General Multicast messages that are indicated in the Recovery Request package with the TCP protocol only into the relevant vendor’s system through point-to-point connection.
For the recovery operations on Borsa Istanbul Markets data dissemination, access to recovery service from a single system IP address will be provided. For Equity Market data dissemination, Data vendors may establish only one recovery connection over each connection line. For the Debt Securities Market and Futures and Options Market, the total number of connections that may be provided over both lines is determined as 2 (subject to change). Connection is provided through TCP/IP data communication protocol.
For the Equity Market Data Dissemination, the number of recoveries for Data vendors during a trading session is limited to 9,999. In the event that the number of recovery requests in one session approaches this limit or the number of total number of packages subject to recovery is more than ~5% of the daily number of packages sent, Data vendors are prevented from recovery temporarily. Connection is re-established after Data vendors notify Borsa İstanbul that their recovery problems have been solved.
General Information on Borsa İstanbul Data Dissemination Infrastructure
Data vendors that have completed the connection procedure and that have been provided access to test environments are required to successfully complete the test procedures for transition to the production environment.
- Unicast and multicast neighborhood will be established in the connection points. Such neighborhood will be confirmed through access test (ping) and multicast protocols in the connection equipment.
- In order to measure the package losses in multicast data dissemination, Data vendors are required to log the packages they receive during the test period and send such to Borsa Istanbul Data Dissemination Support Unit. The relevant unit will perform analyses on such logs, as a result of which, Borsa Istanbul may either request the company to send logs again or decide that the company has passed the multicast data package loss ratio compliance test. For package losses experienced during multicast data transmission, the recovery procedure must have been realized by the Data vendor and must be running smoothly. In the test environment provided for the Data vendors, Data vendors will be checked to see whether they can make at least one successful recovery request in the desired format.
General Information on Borsa İstanbul Data Dissemination Infrastructure
Borsa İstanbul provides three Ethernet connections to each data vendor’s cabinet. Through these connections supported by 10/100/1000 Mbps, data vendors connect to Borsa İstanbul’s key/router equipment that carries out data dissemination, and receive market data. Borsa İstanbul’s responsibility goes as far as the end of the Ethernet cable provided to the data vendor’s cabinet. From this point on, the responsibility of receiving, processing, carrying and backing up of data lies with data vendors.
Data vendors will access Borsa İstanbul data dissemination systems via the IP addresses to be allocated by Borsa İstanbul and there will be no access through another IP address.
The Level 2 data basically contains the market depth (5 or 10 levels) data. Level 1+ data basically contains the best bid & ask prices and volume information (including the traded volume). Level 1 data basically contains the best bid & asks prices (volume not included).
All of the Level 1, Level 1+ and Level 2 data packages are already including the index data. Therefore, there is no need to subscribe the index data if you do not want to distribute the index data separately. If you would like to distribute the data in the form of the Level 2, Level 1+ and Level 1 packages then you need to subscribe to all of these packages (of course Level 2 data includes the Level 1+ data and the Level 1+ data includes the Level 1 data, however you need to receive the authorization for distribution of each package separately). Please note that, you will receive one feed (Level 2) from Borsa Istanbul, and you would be required to extract the Level 1 and 1+ data if you would like to distribute these packages.
The protocol is same for all feeds; real time UDP Multicast data.
We are expecting some major changes based on strategic partnership with Nasdaq OMX.
Yes, we do require you to pass a technical conformance and a functional conformance to access to our market data.
Test Market data feed is currently available only by dedicated lease line.
Unfortunately, this option is not available if you haven’t signed the contract with us yet. Our Marketing Department will contact with you for further details. After singing up the legal contract, this option will be available for you.
BIST uses its own proprietary message format for disseminating its market data.
Public Disclosure Platform News System which was held by Borsa Istanbul is now operated by Central Registry Agency. That’s why get into contact with Central Registry Agency for any information.
With regards to the other vendors which were unaffected, could you advise whether they were using other telco carriers other than Turkish Telecom?
Borsa Istanbul allows diverse Telco carriers other than Turk Telekom. Working with Turk Telekom is not a mandatory option for vendors. We never declared or announced such as policy to vendors that Turk Telekom is the only company we accept. That is all your choice and you are free to work with any carrier you like to work. It is all depend on vendors’ expectations and risk analysis decision.
Borsa İstanbul’s responsibility goes as far as the end of the Ethernet cable that provides connection to the Data vendor’s cabinet or MetroEthernet network. From this point on, the responsibility of receiving, processing, carrying and backing up of data lies with Data vendors. You can use any telco carriers you want
If you are already paying the technical connection fees there will be no need to pay new/additional technical fees for VIOP feed.
Unfortunately, you can’t use the existing link for market data access. You will need to install new circuits. Typically data vendors have co-located rack in BIST’s facility, and they receive the data through cross-connections.
We do not point an ISP to any data vendor as a company policy, but you have different options like Superonline, TurkTelekom, Vodafone, Turknet etc… more providers available on internet.
This is depends on Telco provider that you will choose. Unfortunately, we can’t give you process details or any processing time range.
No, there is not. However, minimum 10Mbps bandwidth is recommended.
UDP Multicast.
There is no requirement, vendor can place servers, routers, Layer 3 switches to end layer 3 cross connections from BIST Data Dissemination Network. Demarcation Point is the end of the cross-connections from the BIST’s point of view.
There will be three layer 3 connections towards vendor cabinet and they are named as Main, Backup and Test. Main and Backup will carry market data. Feeds on Main and Backup will have the same content. Test connection is used for testing purposes. For more info please refer the document General Information on Borsa İstanbul Data Dissemination Infrastructure for more info.
Yes there is. There is TCP Recovery mechanism in which all lost packets can be requested with TCP session using pre-defined TCP port. Please refer the document stated above for more info.
For each connection, your connection IP addresses are assigned to you by BIST. Your connection IP addresses are the only one allowed for any type of connections requests and test like, icmp, TCP Recovery etc.
Each Vendor is given a cabinet (compartment) with the specifications below. If necessary, another compartment can be given upon meeting the requirements.
22U Cabinet
Full redundant power ( different power grids)
C13 and C19 connectors
19” Rack mounted
Key locked
BIST members can access to markets over the Remote Access Network via 1 primary Office and 1 active secondary Office. They can have a third office passive for disaster recovery purposes.
Members give the application to Borsa İstanbul Intermediary Institutions Affairs Department (BIST IIAD) for connectivity. Applicant will sign “commitment letter” and BIST handles all the process from this point on.
Circuits will be issued under BIST name and members will be billed monthly? Prices vary by Telecom provider, bandwidth and chosen infrastructure.
Member will fill up a Relocation Form via YKİM Istanbul Intermediary Institutions Affairs Department. BIST will arrange the relocation arrangements and at the end of process circuit numbers (a unique number assigned to each circuit) will be changed.
BIST Help Desk will provide and answer to your questions related to connection set-up. You can reach the Help Desk via the contact info shown below.
E-mail : bt-destek@borsaistanbul.com
Phone Number : +90 212 298 24 27
It will be started from 1.
Yes it is. In that situation sequence numbers will be started from 1.
There is no message in the feed. You will be informed via your technical contacts, (mail or phone call)
Yes, we do.
