With T7 Release 11.1 following enhancements will be introduced:
Simulation start: 04 April 2023
Production start: 22 May 2023
Enhanced Trading Interface
FIX LF
T7 Release 11.1 - FIX LF Manual v.1.2
Published 08 May 2023 - The document provides information on the T7 FIX LF interface for both the Cash and Derivatives Markets and contains a description of the conncectivity, concepts and messages used by FIX LF.
T7 FIX LF Interface - Derivatives Message Reference v.11.1-D0003
Published 08 May 2023 - The purpose of this document is to provide all message formats for the derivatives markets part of the FIX LF interface.
T7 FIX LF Interface - Cash Message Reference v.11.1-C0003
Published 08 May 2023 - The purpose of this document is to provide all message formats for the cash markets part of the FIX LF interface.
T7 Release 11.1 - FIX LF XSD XML representation and layouts v.1.2
Published 08 May 2023 - The package contains the QuickFix Engine dictionaries (FIXLF44_Derivatives.xml, FIXLF44_Cash.xml) and message reference files including message and field descriptions (FIXLF_DerivativesExt.xml, FIXLF_CashExt.xml) for the T7 FIX LF interface per marketplace type.
STEP (Sample Tool for ETI Password Encryption)
By downloading the script STEP (Sample Tool for ETI Password) from the link below, you agree, and if you are acting on behalf of a third person you agree on behalf of that person, to the following terms of use of Deutsche Börse AG and Eurex Frankfurt AG, both 60485 Frankfurt am Main, Germany (individually and collectively “DB”),
Circulars
Newsflashes
No, there will be no differentiation in fees.
The same as now.
When Eurex decommissions the current billing infrastructure (ETA Q4 2024).
Yes, the correct value will be sent also for historical transactions after 5 June when the new fee report CB002 kicks in.
With C7 Release 9.1 CB002 will be provided in the usual report format. There are currently no plans to publish CB002 via API. RestAPI will not be supported by Eurex, instead any API development will be based on GraphQL API.
New field FeeIdntCode to be implemented if applicable.
The entity that we expect to register is the one who does the trading and is operationally involved with trading and dealing activities and that speaks directly with the execution broker. Only investment manager level needs registering, not the individual funds underneath.
No. The end client is invited to register themselves via Member section. A registration functionality will be available by the end of 2023. During registration, you will have to select one or more participating Brokers (Eurex Members) who will ID-tag your orders towards Eurex.
The Eurex Buy-Side Client is expected to tag their complete Eurex order flow, even for products which are currently not in scope of the disclosed fee. In the mid term, it is expected to introduce fee differentiation for most Eurex products.
With the introduction of the fee differentiation, disclosed trades will pay a lower fee than today, and non-disclosed trades will pay a higher fee.
Yes. On the Execution Broker level, the globally unique Client ID (LEI) ensure that the Eurex Buy-Side Client is identifiable to Eurex, regardless which Broker the order arrives through.
On the Clearing Broker level, the fees will be charged based on the Fee Code. Therefore, regardless of the Execution Broker and the Clearing Broker, if the transaction is disclosed, finally settled on the A-Account (and if the other requirements apply), the disclosed fee will be charged.
It is the Executing Broker's responsibility to flag the trade correctly ex-ante. If the trade is not correctly flagged, Eurex will take it as a non-disclosed trade and charge as such.
The new fee levels will be published as soon as they have been approved by our management. We envisage this to be somewhen after the 2023 summer break.
As we are interested in the identity of the end client, it should be down to the end clients to register, not to your affiliates. We also plan to introduce a provision in our Terms & Conditions that should prohibit affiliates of Eurex trading members to become Buy-Side Clients.
We kindly ask all Trading Members and ISVs to submit the Readiness Statement for T7 Release 11.1 by Friday, 12 May 2023 latest. Please note, that all trading participants are required to provide the Readiness Statement. For your convenience a online submission process has been introduced. The online Readiness Statement for T7 Release 11.1 is here available: Readiness Statement. Please enter your dedicated Eurex PIN in the online questionnaire. The PIN for your company has been sent to the Central Coordinator.
Release Items/Participants Requirements
Feature/Enhancement | Details | Action Item |
Fee Code Introduction | 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. The new fee code will allow Trading Participants to lookup the applicable fee information. | Trading Members need to adapt to these changes and perform sufficient testing. |
End Client Disclosure | Trading Participants performing DMA or ORS will be able to disclose the beneficiary owner in order messages towards the exchange allowing for fee differentiation. | Trading Members need to adapt to these changes and perform sufficient testing. |
Password Encryption for ETI | Eurex will provide an addition login option for sessions and users for T7 ET) with a password padded by the current UTC timestamp, encrypted with Deutsche Börse’s public RSA key, and base64 encoded. | Trading Members need to adapt to these changes and perform sufficient testing. |
Submission of Anonymous Baskets trades | Eurex will provide the possibility for the submissions of basket trades flagged as anonymous by the initiating broker. | Trading Members intending to use this functionality should perform sufficient testing. |
Eurex Improve via FIXLF | Eurex´ Improve functionality can be used also via FIX LF. | Trading Members that intending to use this functionality should perform sufficient testing. |
Contacts
Eurex Frankfurt AG
Release Competence Center
Service times from Monday 09:00 – Friday 18:00 CET
(no service on Saturday and Sunday)
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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.
An instant update of the Market Status requires an enabled up-to date Java™ version within the browser.