15 Nov 2021

Eurex

T7 Release 10.0: Announcement of Eurex T7 functionality activations after Release date

Eurex Circular 104/21 T7 Release 10.0: Announcement of Eurex T7 functionality activations after Release date


1.   Introduction

As announced in the Eurex Release Notes for T7 Release 10.0, the following functionalities will be activated in Production after the official Release Date:

a.    Pre-Trade Risk Limits for Futures Spreads will be activated for all Futures products:

  • Simulation: Already activated
  • Production: 6 December 2021

b.    Market Order Validation will be activated for all Options products:

  • Simulation: Already activated
  • Production: 29 November 2021

Learn now more about T7 Release 10.0 on our dedicated initiative page under the following link: Support > Initiatives & Releases > T7 Release 10.0. System documentation, circulars, timeline and much more information is available there for you.

2.    Required action

In case Trading Participants and Clearing Members want to use Pre-Trade Risk Limits for Futures Spreads, they have to familiarize with the functionality and set respective limits and parameters prior to the activation. This applies in particular to Trading Participants and Clearing Members who are already using Pre-Trade Risk Limits today. 

No actions are required for the changes to the Market Order Validation.

3.    Details of the initiative

As announced in the Eurex Release Notes for T7 Release 10.0, the following functionalities will be activated in Production after the official Release Date:

Eurex has enhanced the Pre-Trade Risk Limits logic to better accommodate Futures Spreads trading and their contribution to the position risk. For more information on the functionality, please see the T7 Release 10.0 Final Functional Technical Release Notes under the following link: 

Support > Initiatives & Releases > T7 Release 10.0 > Functionality & Overview

On 22 November 2021, the migration period will start, and Trading Participants and Clearing Members will be able to pre-configure the Netting Coefficient for Futures Spreads. Initial values for the Netting Coefficient for Futures Spreads will be 1 for all Trading Participants and 0 for all Clearing Members. Particularly, Trading Participants and Clearing Members who are already using Pre-Trade Risk Limits today, are encouraged to use the possibility for pre-configuration. 

On 6 December 2021, the pre-configuration period will end and the new Pre-Trade Risk Futures Spread logic activated based on the pre-configured Netting Coefficient. 

The Eurex validation for market orders for options products is designed to increase protection for market orders in case of missing order book prices. For more information on the functionality, please see the T7 Release 10.0 Final Functional Technical Release Notes under the link above. On 29 November 2021, the new functionality will be activated for all options products. The information whether the new Market Order Validation is applied to an options product will be distributed as part of the RDI/RDF product information.
 

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 10.0

Authorized by:

Randolf Roth


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