By introducing the “Guidelines on systems and controls in an automated trading environment for trading platforms, investment firms and competent authorities” (ESMA/2012/122), the European Securities and Markets Authority (ESMA) established comprehensive guidelines for the handling of automated trading. These guidelines apply equally for investment firms and trading venues.
The Exchange Supervisory Authority of Hesse,as the competent authority for Eurex Deutschland, considers the ESMA guidelines in its supervisory practices.
Additionally, the German Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, BaFin)translated these ESMA guidelines into national requirements for German credit and financial services institutions within their circular 6/2013 (BA). One of the requirements envisages that these institutes have to verify, whether the trading platforms they use comply with the ESMA guidelines.
Therefore, we increasingly receive enquiries from our exchange participants, asking whether Eurex Deutschland fulfils the regulatory requirements.
Based on the above, we confirm that Eurex Deutschland complies with the requirements as stipulated in the ESMA guidelines (ESMA/2012/22).
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.
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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