Eurex T7 Entry Services

Multilateral and Brokerage Functionality

Eurex T7 Entry Services (provided via T7 ETI and via the T7 Trader GUI) offer next to bilateral trade registration a Multilateral functionality and also a Brokerage functionality (formerly known as Multilateral Trade Registration, or MTR Service):
 

  1. The Multilateral functionality allows processing of order information for multilateral Block Trades by authorized Trading Participants of Eurex Exchange (Non-Clearing Members) as well as Members of Eurex Clearing.

    The Multilateral functionality provides an efficient way for registration of order information for Block Trades with several counterparties (e.g. one buyer vs. three sellers), instead of entering order information for separate bilateral Block Trades.
     
  2. The Brokerage functionality can be used by brokers to book trades directly into the account of the beneficiary member without being part of the trade.

    The Brokerage functionality alleviates the administrative effort as the information does not have to be entered by the actual counterparties, but rather by a single participant acting in the Eurex® system as an entering "broker". This streamlines order entry processes and reduces execution risk for brokers.
     

Order information for Block Trades can also be submitted to the authorized Trading Participants by third party information providers (generically referred to as "Third Party Information Providers" or TPIPs) via the Brokerage functionality. As the TPIPs are not authorized participants, these entities will not act as counterparties in the Eurex® system.

The Block Trade Registration via the Brokerage functionality entails the following:

  • Two-step processing: Entry of order information by the entering broker and trade approval by the counterparties
  • Anonymous counterparties: As counterparties, participants may see only the member ID of the entering broker and not the actual counterparties of the trade

Bilateral and multilateral Block Trades are cleared by Eurex Clearing after all involved counterparties have confirmed the trade in the Eurex® system.

Product scope

The Multilateral as well as the Brokerage functionality are available for Block Trades in all Futures and Options listed at Eurex Exchange.
 

Reducing risk for brokers – an intro to the Multilateral and Brokerage functionality

The Multilateral and Brokerage functionality (formerly known as Multilateral Trade Registration or MTR) allows Eurex participants and third-party information providers via its broker mode to enter multilateral trades with up to 30 participants and broker trades where the broker does not need to be part of the trade himself.

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.