With T7 Release 13.1 the following enhancements will be introduced:
Simulation start: 31 March 2025
Production start: 19 May 2025
Enhanced Trading Interface
FIX LF
Release Items/Participants Requirements
Feature/Enhancement | Details | Action Item |
Delta-neutral Trading Strategies in Total Return Futures | With T7 Release 13.1, Eurex will introduce the possibility for traders to define strategies for TRF which allow delta neutral hedging of TRF trades, and Eurex will support the trading of these strategies on book as well as off-book. By supporting on-book trading the aim is to improve the liquidity and price formation on Eurex screens. | Trading Participants that would like to make use of the delta-neutral Trading Strategies in Total Return Futures need to adapt to these changes and perform sufficient testing. |
Average Price Notation for Packs and Bundles in Money Market Futures | T7 will support a new pricing notation regarding the instrument types “Packs and Bundles” and “Strips” in money market futures products. For money market futures, it is envisioned that the average pricing notation will replace the average net change pricing notation currently configured for both strips and packs & bundles which is given by the average price difference of leg price and the previous day settlement price of the simple instruments involved in the corresponding strategy. | Trading Members that trade Money Market Futures products need to adapt to changes related to the new pricing notation and perform sufficient testing. |
Adaptations to Pre-trade Risk Limits for Options | Eurex will revisit the PTRL calculation of options to reduce complexity and to cope with the performance impact resulting from quote handling in PTRL. Due to the revision, options quotes will no longer be counted as PTRL. This will result in changes to several PTRL calculation formulae for options. | Trading Participants will need to consider the new PTRL calculation of options, need to adapt to these changes and perform sufficient testing. |
Adaptation of Excessive System Usage (ESU) Limits | Eurex will amend the framework of the Excessive System Usage limits. The amendment will reflect a differentiation between passive and aggressive trading behaviour resulting in lower ESU fees for passive and to higher ESU fees for aggressive trading behaviour. | Trading Participants will need to consider the amended Excessive System Usage limits, need to adapt to these changes and perform sufficient testing. |
Mark old Single- and Multi-Leg ETI Requests as Deprecated | With T7 Release 12.0, Eurex added five new ETI requests which allowed to add, modify, and delete orders for both simple and complex instruments. The new requests were introduced to align order layouts across T7 exchanges, to combine simple and complex layouts into one request and rearrange fields specifically for latency sensitive trading participants. | Trading Participants that use the deprecated ETI tags are advised to start the migration from the old ones to the new ones internally, adapt to these changes and perform sufficient testing. |
Contacts
Eurex Frankfurt AG
Key Account Management
Service times from 09:00 - 18:00 CET
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