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23 Apr 2013

Eurex

HFT Bill: Information on order/trade ratio, excessive system usage fees and flagging of trade algorithms

Shortly, the German High Frequency Trading Bill (“Hochfrequenzhandelsgesetz”) will come into force. The Bill contains various requirements for market participants and market operators with respect to on-exchange trading.

It is planned to implement the deliverables of the technical prerequisites of all three requirements of the High Frequency Trading Bill in the fourth quarter of 2013. The required adjustments of the rules and regulations will be made at the same time. We will keep our participants informed continuously about the state of the concepts and their implementation.

This circular contains further information on the implementation of the Bill.

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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