Eurex
1. Introduction
Deutsche Börse plans to introduce T7 Release 11.1 on 22 May 2023. The simulation for T7 Release 11.1 is planned to start on 27 March 2023.
This circular provides Eurex T7 Trading Participants with the T7 Release 11.1 timeline, planned scope and the communication schedule.
The following enhancements will be introduced in T7 Release 11.1:
Simulation start: 27 March 2023
Production start: 22 May 2023
Learn now more about T7 Release 11.1 on our dedicated initiative page under the following link: Support > Initiatives & Releases > T7 Release 11.1. System documentation, circulars, timeline and much more information will be available there for you.
2. Required action
Trading Participants are requested to initiate the preparatory steps to ensure software readiness for the new T7 Release 11.1 on 22 May 2023.
3. Details of the initiative
A. Introduction Schedule and Communication Calendar for T7 Release 11.1
Please refer to the attachment for the Introduction Schedule and the Communication Calendar.
The Communication Calendar lists all important dates on which documents for T7 Release 11.1 will be published, including existing documents that will be revised for T7 Release 11.1.
In December 2022, Eurex Exchange will publish the detailed preliminary Release Notes listing the functional and technical enhancements that will be available in T7 Release 11.1.
Deutsche Börse will provide a dedicated release simulation environment to give Trading Participants and Independent Software Vendors (ISVs) the opportunity to perform comprehensive testing of their trading applications, independently of the T7 production environment.
In addition to the T7 Release Simulation, Trading Participants can also use the T7 Cloud Simulation that allows Trading Participants and ISVs to test against the current T7 production and simulation software versions. In this environment, Trading Participants can initiate predefined market scenarios and test-specific strategies more easily than in a shared environment. The T7 Cloud Simulation is permanently available (24/7) for a fixed price per hour and is accessible using an SSL-encrypted internet connection. The T7 Cloud Simulation will start in advance to the usual Release Simulation.
For more information on the T7 Cloud Simulation, please refer to the Eurex website www.eurex.com under the following path:
Support > Technology > T7 Cloud Simulation
Eurex Exchange is committed to providing Trading Participants and ISVs with information updates throughout the development of T7 Release 11.1 to support adequate planning and to ensure a successful launch.
B. Overview of functional enhancements
The following paragraphs provide an overview of the functional enhancements which will be introduced in T7 Release 11.1:
Anonymous Baskets
With T7 Release 11.1, Eurex will provide the possibility for the submissions of basket trades flagged as anonymous by the initiating broker. When submitting an anonymous basket trade, the counterparties will not be disclosed to each other – only the initiating broker will see the involved counterparties. Anonymous baskets will keep the full functionality offered for transparent baskets as of today, including basket modifications and amendments, which will also be available for the involved counterparties directly.
End Client Disclosure
Trading Participants performing Direct Market Access or Order Routing Services will be able to disclose the beneficiary owner in the order message towards the exchange to allow for fee differentiation in the context of the newly designed fee complexity reduction framework.
Introduction of a Fee Code
Eurex will take the first step toward unbundling business complexity from operational complexity regarding fee handling. By doing so, Eurex will provide fee relevant information in a transparent and comprehensive way to Trading Participants so that Trading Participants can use that information to manage and calculate fees directly. Therefore, a fee code will be introduced that will allow Trading Participants to lookup the applicable fee information.
Please note that T7 will provide the trading fee relevant fee information within the fee code sent out with the trade information. C7 will be enhancing the fee code with clearing fee relevant information resulting in the final fee code.
Eurex Improve via FIX LF
With T7 Release 11.1, Eurex will offer the possibility to use the Eurex Improve functionality also via FIX LF.
Password Encryption for ETI
With T7 Release 11.1, Eurex will provide an additional login option for both, sessions and users for the T7 Enhanced Trading Interface (ETI) with a password padded by the current UTC timestamp, encrypted with Deutsche Börse’s public RSA key, and base64 encoded.
Backwards compatibility
T7 Release 11.1 will be backwards compatible to T7 Release 11.0.
Attachment:
Further information
Recipients: | All Trading Participants of Eurex Deutschland and Vendors | |
Target groups: | Front Office/Trading, Middle + Backoffice, IT/System Administration | |
Contact: | client.services@eurex.com | |
Web: | Support > Initiatives & Releases > T7 Release 11.1 | |
Authorized by: | Wolfgang Eholzer |
Market Status ⓘ
XEUR
The market status window is an indication regarding the current technical availability of the trading system. It indicates whether news board messages regarding current technical issues of the trading system have been published or will be published shortly.
Please find further information about incident handling in the Emergency Playbook published on the Eurex webpage under Support --> Emergencies and safeguards. Detailed information about incident communication, market re-opening procedures and best practices for order and trade reconciliation can be found in the chapters 4.2, 4.3 and 4.5, respectively. Concrete information for the respective incident will be published during the incident via newsboard message.
We strongly recommend not to take any decisions based on the indications in the market status window but to always check the production news board for comprehensive information on an incident.
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