Press

Eurex, the derivatives market, will be expanding its electronic trading system further this year. A new software release, Eurex Release 3.0, is to be made available to the participants this fall. The main change that will be made with the next version of the Eurex system is a new software architecture with an open interface as well as a modern graphical user interface, or so-called GUI. The new front-end architecture, which covers the full spectrum of Eurex functions for trading, will inform traders faster about the execution of orders, with complete trade identification. The open interface will promote and facilitate the integration of Eurex trading into the participants' trading environment to an even greater degree than it has so far.

The VALUES API (Virtual Access Link Using Exchange Services - Application Programming Interface) developed by Eurex in collaboration with Deutsche Börse is a logical extension of the interface already developed and successfully introduced with the Xetra electronic trading system for the cash market. The new application provides direct, open access to the Eurex network and thus to the Eurex trading system. The programmable interface makes it easier for the participants to apply various software options from vendors of their choice as additions or supplements to the standard applications offered by Eurex and the graphical user interface. This will give Eurex members much greater flexibility in the choice of their systems, enabling them to use software that is perfectly tailored to their needs to play off their competitive advantages against other participants. The new release will also continue to support the existing plattform and infrastructur. Participants can efficiently integrate specific functionalities such as risk management, order-routing, position maintenance or quotation into the Eurex trading system. Eurex is making a VALUES API test-kit available via its homepage (www.eurexchange.com) for participants and software vendors to develop their own applications on the basis of VALUES API.

The implementation of Release 4.0 is scheduled for the year 2000. It will expand the clearing functionalities and extend the VALUES API to the clearing functions.