The proposals will remove obstacles that have prevented consolidated tapes in the EU.
The regulator said the bank failed to surveil billions of orders on a designated contract market.
The sandbox approach has the benefit of allowing the use of a more flexible rulebook.
The public hearing will be on 10 July 2024.
Operating days would include weekends and holidays, so services would operate every day of the year.
IBA will announce in due course when settings will be made available for use by licensees.
Investors can also use the tool to check if funds align with regulatory obligations.
The exchange is picking up the pace of migrating datasets onto the Microsoft platform.
The Australian exchnage is seeking stakeholder feedback by 18 June 2024.
They will be the first contracts to help manage risk via an intercommodity spread with Treasury futures.
