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A5X has launched the Developer Portal, a digital platform that centralizes the technical information required for integration with the new Brazilian exchange’s systems. The portal provides access to protocol specifications, message catalogs, and operational documentation for developers and institutions interested in participating. <\/p>\n\n
This initiative aims to facilitate the technical integration process by providing structured information about A5X systems. The portal is organized by functional areas and includes a delivery schedule for the various technical specifications over the coming months. <\/p>\n\n
The goal is to provide transparency on the technical aspects of the operation and allow interested participants to adequately plan their systems integration and certification processes.<\/p>\n\n
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The Developer Portal is organized into sections that cover the main technical aspects of A5X’s operations. The structure follows the typical functional division of exchanges, separating information on connectivity, trading, and post-trading. <\/p>\n\n
The connectivity section provides information on access infrastructure and the systems’ technological structure. This documentation includes specifications on communication protocols, connectivity requirements, and technical certification procedures. <\/p>\n\n
The trading area focuses on specifications for order entry protocols, including FIX and binary implementations, as well as information on market data and dropcopy systems. These specifications detail message formats, required fields, and operational procedures. <\/p>\n\n
The post-trade section covers documentation on capture, allocation, positioning, and settlement, as well as other processes that occur after trade execution. It includes technical manuals, catalogs of specific messages, and information on operational grids and deadlines. <\/p>\n\n
The portal also provides information on the planned operational model for the launch.<\/p>\n\n
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The technical specifications available on the portal cover the main communication protocols that will be used by A5X. The FIX protocol is implemented with specific adaptations to meet the exchange’s operational needs while maintaining compatibility with market standards. <\/p>\n\n
The FIX protocol documentation includes detailed specifications on order identifiers, character limits for message fields, and session recovery procedures. The main supported message types are documented, including order entry, cancellations, and execution reports.
Additionally, the portal documents binary protocols optimized for scenarios requiring low latency. These protocols are targeted at participants with specific performance needs in their trading operations. <\/p>\n\n
The market data system is documented with specifications regarding message formats, update frequencies, and subscription procedures. The documentation includes information on unique identifiers used to track orders and executions. <\/p>\n\n
Pre-trade risk systems are integrated into trading protocols, with validations that follow established market practices. Documentation includes information on the types of controls implemented and rejection handling procedures. <\/p>\n\n
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The portal provides structured catalogs of messages used in A5X’s various operational processes. These catalogs are organized by functional area, making it easier for developers to locate specific information. <\/p>\n\n
The business message catalog includes specifications for account and link registration, transaction capture and allocation procedures, collateral management, and position control. Each message category is documented with field formats, response codes, and usage examples. <\/p>\n\n
The financial instrument-related messages include details on how the different products offered by A5X are identified and referenced. The documentation covers both futures and options in the various planned segments. <\/p>\n\n
Financial settlement processes are documented with specifications on calculations, timelines, and interfaces with payment systems. Risk messages include information on margin calculations and exposure monitoring procedures. <\/p>\n\n
The catalog also documents pricing-related messages, including cost structures and billing procedures. This information is relevant for participants who need to integrate back-office systems with A5X operations. <\/p>\n\n
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The portal includes a timeline structured into three main phases for the provision of the various technical specifications. This timeline allows interested parties to plan their development and integration processes. <\/p>\n\n
The first phase, scheduled for August, focuses on the fundamental elements of trading. It includes basic market data catalogs, order entry specifications, and connectivity infrastructure documentation. This phase establishes the technical foundation necessary to begin the integration process. <\/p>\n\n
The second phase, scheduled for September, expands the specifications with additional operational features. It includes more specialized technical messages, detailed registration procedures, and collateral and instrument management systems. This phase adds operational complexity to the basic specifications. <\/p>\n\n
The third phase, scheduled for October, completes the set of specifications with advanced risk management systems and specialized services. It includes documentation on access controls, file transfer procedures, and complete operational flows. <\/p>\n\n
The schedule is subject to adjustments as systems develop and feedback from interested participants is received. A5X will keep the portal updated with information about any changes to delivery dates. <\/p>\n\n
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A documenta\u00e7\u00e3o dispon\u00edvel no portal detalha os produtos que a A5X planeja oferecer no lan\u00e7amento. O foco inicial ser\u00e1 em derivativos com liquida\u00e7\u00e3o financeira, cobrindo os principais segmentos de mercado. <\/p>\n\n
Os produtos incluem futuros e op\u00e7\u00f5es sobre \u00edndices de a\u00e7\u00f5es, tanto para refer\u00eancias dom\u00e9sticas quanto offshore. Tamb\u00e9m est\u00e3o planejados derivativos sobre a\u00e7\u00f5es individuais, seguindo modelo similar com vers\u00f5es locais e offshore dos contratos. <\/p>\n\n
Na \u00e1rea de c\u00e2mbio, est\u00e3o previstos futuros e op\u00e7\u00f5es de d\u00f3lar americano referenciados \u00e0 taxa USDBRL. Para renda fixa, a oferta inicial incluir\u00e1 derivativos de taxa de juros alinhados \u00e0 curva dom\u00e9stica brasileira. <\/p>\n\n
A A5X tamb\u00e9m planeja oferecer futuros de criptomoedas, conectando o mercado tradicional ao segmento digital. Todos os contratos de op\u00e7\u00f5es ser\u00e3o do tipo europeu, com exerc\u00edcio autom\u00e1tico na data de vencimento. <\/p>\n\n
O modelo operacional seguir\u00e1 estruturas conhecidas do mercado brasileiro, com categorias tradicionais de participantes como Intermedi\u00e1rio Full e Intermedi\u00e1rio Light. O sistema de contas incluir\u00e1 modalidades definitivas e provis\u00f3rias, com v\u00ednculos operacionais estabelecidos. <\/p>\n\n
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