Trading phases
The trading day at Eurex typically runs from 07:30 to 22:00 CET. It consists of three phases:
- Pre-Trading
- Trading
- Post-Trading.
All products are subject to these periods, although product-specific schedules apply for each period - for instance, due to different conventions in the underlying market.
Overview of content
- Pre-trading
- Opening
- Trading
- Closing auction
- Post-trading
- Order restrictions by trading period
Order restrictions by trading period
With the beginning of the pre-trading period, Eurex participants are able to enter orders. There are restrictions, however, on the types of orders that may be entered outside the main trading period. The chart below illustrates which types of orders can and cannot be entered during the various periods of the trading day:
| Order Type | Pre-trading | Pre-opening | Trading | Post-trading |
| Market order | Yes | Yes | Yes | Yes |
| Stop order (futures contracts) | Yes | Yes | Yes | Yes |
| Restricted limit order (IOC) | No | No | Yes | No |
| Unrestricted limit order (GFD, GTC, GTD) | Yes | Yes | Yes | Yes |
| Futures combination | Yes | No | Yes | Yes |
| Strategies | No | No | Yes | No |
IOC: Immediate or cancel
GFD: Good-for-day
GTC: Good-till-cancelled
GTD: Good-till-date
Additional restrictions apply for the different phases of the post-trading period:
| Post-trading Full | Post-late 1 | Post-late 2* | Post-trading restricted | |
| Eurex Trade Entry Services | Yes | No | No | No |
| Give-up/Take-up* | Yes | Yes | No | No |
| Trade adjustment/exercise | Yes | Yes | Yes | No |
* for interest rate options on the last trading day only
