T7 Release 15.0: Announcement of Eurex T7 Functionality Activations After Release Launch Date

1. Introduction

As announced in the Eurex Release Notes and on the initiative page for T7 Release 15.0, the following functionalities will be activated in the Production environment after the official release launch date: 

A. Sponsored Access – Wave 3 

i. Trading Action Request & EDC Monitoring Session  

• Simulation: Already activated 

• Production: 16 November 2026 

ii. TES Trading for Sponsored Access  

• Simulation: Already activated 

• Production: 16 November 2026 

B. New Mapping Logic for Mid-Curve Options on Index Dividend Futures 

• Simulation: December 2026 

• Production: 11 January 2027* 

C. Eurex EnLight: Support of Flexible Instruments 

• Simulation: Already activated 

• Production: Activation date to be announced in Q1 2027 

D. Enhancement of Fee Identification Code 

• Simulation: November 2026 

• Production: Details regarding the activation and product scope will be announced separately in 2027 

* The introduction is subject to the approval of a change to the Contract Specifications of Eurex Deutschland. 

Learn more about T7 Release 15.0 on our dedicated initiative page under the following link:  T7 Release 15.0. System documentation, circulars, timeline and much more information will be available there for you. 

2. Required action

A. Sponsored Access (SpA) Providers are encouraged to test the Trading Action Request and the EDC monitoring session for their SpA User Companies/Units. In alignment with SpA Providers, SpA Traders are additionally encouraged to use the TES trading functionality in case they are assigned to the new “SPONSORED ACCESS TES TRADER” role in T7 Admin GUI by the Service Administrator of their SpA Provider.  

B. In the simulation environment, Eurex will perform a position migration from the current mid-curve options on FEXD (product symbols OED1-5) to the new mid-curve options on FEXD denoted by OXZ0-9 on the first simulation trading day of the new mid-curve options products. It is planned to perform a position migration from current to new mid-curve options on FEXD in the same way in the production environment. Therefore, Trading Participants are encouraged to create positions in the old mid-curve options products and observe the migration of positions after simulation launch of the new mid-curve options products. The exact product launch date in the simulation environment will be communicated separately. 

C. Trading Participants interested in flexible instruments in Eurex EnLight are encouraged to test in the simulation environment. 

D. Activation in simulation is envisioned in November for index dividend futures and single stock dividend futures to provide testing opportunity regarding the new valid value of fee maturity qualifier as part of the fee identification code. The usage of the new fee maturity qualifier value in the production environment is planned for 2027. Further communication will follow. 

3. Details of the initiative

Please find the context and introduction plans for functionalities activated in the Production environment after the official release launch date of T7 Release 15.0 below. For detailed description of the functionalities please refer to the T7 Release 15.0 - Functional Technical Release Notes Eurex. 

A. Sponsored Access – Wave 3 

Trading Action Request & EDC Monitoring Session 

The new Trading Action Request will enable SpA Providers to stop trading activity of their respective SpA User Company for all products via ETI LF, FIX LF or EDC interface in one go. Depending on the preference of SpA Provider, the deletion flag can be checked to delete remaining persistent and non-persistent orders of the respective SpA User Company.  The new request is supplementing the existing Stop/Release functionality in the T7 Admin GUI.  

Additionally, in order to strengthen the risk monitoring capabilities of SpA Providers, the EDC Interface is enhanced with the new concept of “EDC Monitoring Session (with Automated Trading Halt)” where a SpA Provider can use an EDC session for monitoring a SpA trading session(s). EDC sessions with this functionality are called “EDC Monitoring Sessions”. In case of a session loss of the last EDC monitoring session referring to a specific SpA trading session(s), the monitored SpA trading session(s) will be suspended, and non-persistent orders of the respective SpA User Company/Companies will be deleted automatically. Once EDC monitoring session is resumed, trading session(s) of respective SpA user company/companies will be reactivated. Please note that this new functionality is “optional”, so EDC sessions can be flexibly connected with trading sessions of SpA User Companies either with automated trading halt, or for monitoring purposes, or not connect to any trading session.  

For more information, please refer to corresponding documents on Eurex website. 

TES Trading for Sponsored Access  

The scope of Sponsored Access trading is extended to off-book trading by introducing TES Trading for SpA . In case the SpA Trader is configured as “SPONSORED ACCESS TES TRADER” by their SpA Provider, they are able to trade off-book. Please note, Eurex EnLight is not supported for SpA units but expected to be included to the scope of SpA service offering at a later point in time.  

For more information, please refer to corresponding documents on Eurex website.  

B. New Mapping Logic for Mid-Curve Options on Index Dividend Futures 

For the launch of the new mapping for mid-curve options, 10 new options products will be introduced, with all contracts within each product referencing one underlying futures expiration. To facilitate a smooth transition from the existing Mid-Curve Options on Index Dividend Futures (OED1-5) to the new mid-curve options products (OXZ0-9), Eurex will migrate all open positions on the first day of trading of the new mid-curve options products. 

Further details regarding the contract specifications of the new products and the migration strategy will be communicated in a separate circular dedicated to this product initiative. 

C. Eurex EnLight: Support of Flexible Instruments 

All workflows available in Eurex EnLight will support negotiations in Flexible Instruments. Traders using Eurex EnLight will be able to initiate a negotiation event referring to a Flexible instrument, and any Liquidity Provider invited to participate will be able to quote and provide liquidity in the corresponding Flexible instrument. Traders accessing Eurex EnLight via the T7 Trader GUI will be able to create Flexible Instruments directly on the Eurex EnLight negotiation entry screen. 

D. Enhancement of Fee Identification Code 

The extension of the fee maturity qualifier by an additional value for medium-term contracts (new value “M”) is envisioned to become relevant with the next regular fee review which will take place in 2027. Further details will be communicated closer to the activation date. 

For more information about the Fee Identification Code, please refer to the corresponding documents on the Eurex website. For more information about the product-specific contract categorization with respect to handling fees, please refer to the Eurex Contract Specifications and to the Eurex Pricing List.

Further information