Initiatives & Releases

T7 Release 11.1

With T7 Release 11.1 following enhancements will be introduced:

  • Submission of Anonymous Baskets trades
  • End Client Disclosure
  • Introduction of a Fee Code
  • Eurex Improve via FIX LF
  • ETI Password Encryption

Simulation start: 04 April 2023
Production start: 22 May 2023

T7 11.1 timeline new-01
    

System Documentation

Enhanced Trading Interface

FIX LF

STEP (Sample Tool for ETI Password Encryption)

By downloading the script STEP (Sample Tool for ETI Password) from the link below, you agree, and if you are acting on behalf of a third person you agree on behalf of that person, to the following terms of use of Deutsche Börse AG and Eurex Frankfurt AG, both 60485 Frankfurt am Main, Germany (individually and collectively “DB”), 

  1. STEP is only an example implementation to illustrate the ETI password encryption protocol, it is intended and may be used for educational purposes only.
  2. DB does not make any representation, warranty, or guarantee in relation to STEP and any representation, warranty or guarantee, whether express nor implied is explicitly disclaimed.
  3. (a) DB is fully liable for damage due to (i) injury to life, limb or health, (ii) intent or gross negligence, and (iii) assumption of a guarantee. (b) Liability for damages caused by employees or agents of DB who are not officers or executives of DB is restricted to the damage typical for this kind of agreement and foreseeable at the time of the conclusion of the agreement. Liability for simple (slight) negligence is excluded. This does not apply to damages resulting from the violation of essential contractual obligations. Essential contract obligations are obligations the fulfilment of which is necessary for the proper execution of the contract, and on whose fulfilment the other party may rely and is relying. (c) The aforementioned limitation of liability also applies to damage claims against officers, executives, employees or vicarious agents of DB. 
  4. Any amendments to this agreement require the written form, which shall also be required for amending this written form clause.
  5. This Agreement shall be governed by the laws of the Federal Republic of Germany, excluding its conflict of laws principle, the United Nations Convention on Contracts for the International Sale of Goods shall not be applicable.
  6. The courts of Frankfurt am Main shall have exclusive jurisdiction over any dispute relating to this agreement or STEP that may be prorogated.

  • T7 Disaster Recovery Concept 2023 - Interface Configuration Details v.1.1
    Published 15 May 2023 - This document provides an overview of Deutsche Börse’s disaster recovery concept for the T7 trading system. It contains the required technical background information as well as functional features and limitations to enable participants to continue trading in a DR situation.
  • N7_-_Network_Access_Guide.v.2.2.6
    Published 25 May 2023 - This document provides details on the network access options for T7 and Eurex Clearing's interfaces. It includes detailed technical background information, such as router equipment information and port numbers for the configuration of firewalls.
  • T7 Market Data Report Derivatives 2023-05-31
    Published 2 Jun 2023 - This file contains for one specific date (Frankfurt time) the number of packets per multicast address and port combination enhanced with the stream and market information. Please note that the number of packets varies per day and the “From” and “To” columns contain the first and last minute where data was received on that day for the respective combination.
  • T7 Market Data Report Cash 2023-05-31
    Published 2 Jun 2023 - This file contains for one specific date (Frankfurt time) the number of packets per multicast address and port combination enhanced with the stream and market information. Please note that the number of packets varies per day and the “From” and “To” columns contain the first and last minute where data was received on that day for the respective combination.
  • T7 Market Data Report Derivatives 2023-03-28
    Published 31 Mar 2023 - This file contains for one specific date (Frankfurt time) the number of packets per multicast address and port combination enhanced with the stream and market information. Please note that the number of packets varies per day and the “From” and “To” columns contain the first and last minute where data was received on that day for the respective combination.
  • T7 Market Data Report Cash 2023-03-28
    Published 31 Mar 2023 - This file contains for one specific date (Frankfurt time) the number of packets per multicast address and port combination enhanced with the stream and market information. Please note that the number of packets varies per day and the “From” and “To” columns contain the first and last minute where data was received on that day for the respective combination.



  • T7 Incident Handling Guide v.5.3
    Published 02 May 2023 - This document provides a detailed description of the reaction of Deutsche Börse's T7 trading system to technical incidents and provides best practices for handling them. In addition the document provides references to the respective focus days in the T7 simulation environment which are intended to simulate such incidents.

Circulars

FAQ

No, there will be no differentiation in fees. 

The same as now.

When Eurex decommissions the current billing infrastructure (ETA Q4 2024).

Yes, the correct value will be sent also for historical transactions after 5 June when the new fee report CB002 kicks in.

With C7 Release 9.1 CB002 will be provided in the usual report format.  There are currently no plans to publish CB002 via API. RestAPI will not be supported by Eurex, instead any API development will be based on GraphQL API.

New field FeeIdntCode to be implemented if applicable.

The entity that we expect to register is the one who does the trading and is operationally involved with trading and dealing activities and that speaks directly with the execution broker. Only investment manager level needs registering, not the individual funds underneath. 

No. The end client is invited to register themselves via Member section. A registration functionality will be available by the end of 2023. During registration, you will have to select one or more participating Brokers (Eurex Members) who will ID-tag your orders towards Eurex.

The Eurex Buy-Side Client is expected to tag their complete Eurex order flow, even for products which are currently not in scope of the disclosed fee. In the mid term, it is expected to introduce fee differentiation for most Eurex products. 

With the introduction of the fee differentiation, disclosed trades will pay a lower fee than today, and non-disclosed trades will pay a higher fee. 

Yes. On the Execution Broker level, the globally unique Client ID (LEI) ensure that the Eurex Buy-Side Client is identifiable to Eurex, regardless  which Broker the order arrives through.

On the Clearing Broker level, the fees will be charged based on the Fee Code. Therefore, regardless of the Execution Broker and the Clearing Broker, if the transaction is disclosed, finally settled on the A-Account (and if the other requirements apply), the disclosed fee will be charged. 

It is the Executing Broker's responsibility to flag the trade correctly ex-ante. If the trade is not correctly flagged, Eurex will take it as a non-disclosed trade and charge as such.

 The new fee levels will be published as soon as they have been approved by our management. We envisage this to be somewhen after the 2023 summer break.  

As we are interested in the identity of the end client, it should be down to the end clients to register, not to your affiliates. We also plan to introduce a provision in our Terms & Conditions that should prohibit affiliates of Eurex trading members to become Buy-Side Clients.

Readiness Statement

We kindly ask all Trading Members and ISVs to submit the Readiness Statement for T7 Release 11.1 by Friday, 12 May 2023 latest. Please note, that all trading participants are required to provide the Readiness Statement. For your convenience a online submission process has been introduced. The online Readiness Statement for T7 Release 11.1 is here available: Readiness Statement. Please enter your dedicated Eurex PIN in the online questionnaire. The PIN for your company has been sent to the Central Coordinator.

Readiness Videos


Release Items/Participants Requirements

Feature/Enhancement 

Details

Action Item

Fee Code Introduction 

Eurex will provide fee relevant information in a transparent and comprehensive way to Trading Participants, so that Trading Participants can use that information to manage and calculate fees directly. The new fee code will allow Trading Participants to lookup the applicable fee information.

Trading Members need to adapt to these changes and perform sufficient testing.

End Client Disclosure

Trading Participants performing DMA or ORS will be able to disclose the beneficiary owner in order messages towards the exchange allowing for fee differentiation.

Trading Members need to adapt to these changes and perform sufficient testing. 

Password Encryption for ETI

Eurex will provide an addition login option for sessions and users for T7 ET) with a password padded by the current UTC timestamp, encrypted with Deutsche Börse’s public RSA key, and base64 encoded.

Trading Members need to adapt to these changes and perform sufficient testing.

Submission of Anonymous Baskets trades

Eurex will provide the possibility for the submissions of basket trades flagged as anonymous by the initiating broker. 

Trading Members intending to use this functionality should perform sufficient testing.

Eurex Improve via FIXLF

Eurex´ Improve functionality can be used also via FIX LF.

Trading Members that intending to use this functionality should perform sufficient testing.

Eurex Initiatives Lifecycle

From the announcement till the rollout, all phases of the Eurex initiatives outlined on one page! Get an overview here and find other useful resources.
Find out more!

Contacts

Eurex Frankfurt AG
Customer Technical Support / Technical Helpdesk

Service times from Monday 01:00 – Friday 23:00 CET
(no service on Saturday and Sunday)

Please contact your Technical Account Manager via your personal VIP number which can be found in the Member Section.

T +49-69-211-VIP / +49-69-211-1 08 88 (all)

cts@deutsche-boerse.com

Eurex Frankfurt AG
Key Account Management

Service times from 09:00 - 18:00 CET

T +49-69-211-10 333

client.services@eurex.com


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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.

An instant update of the Market Status requires an enabled up-to date Java™ version within the browser.