The commencement of MiFID II/ MiFIR and its transposition into the German legal environment with the FimanoG II, coming into effect on January 3rd 2018, means that German trading venues will get the possibility to allow DMA, as an additional option to allow access to their order books by non-participants, for the first time. Historically, trading venues were only allowed to grant direct access to their order books for their trading participants and their respective traders, acting for the trading participants.
Under the FimanoG II trading venues are now in a position to allow trading participants to grant their clients more control over the order flow using DMA and thereby granting control over the fraction of a second of the lifetime of an order. This means that there can be two different access possibilities for clients electronically sending orders through the trading participants of Eurex.
According to the definition of electronic access under MiFID II / MiFIR DEA is only one possible way to access venues electronically. It comprises Direct Market Access (DMA) and Sponsored Access (SA).
Eurex will only allow trading participants to offer DMA for clients. SA will be continue to be out of scope for the time being.
If you have any questions or require further information, please feel free to contact your dedicated Key Account Manager or email@example.com.
Market Status ⓘ
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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