The Eurex Market Data Interface is a new, lower granularity and lower bandwidth interface that provides a more economical feed to those members that do not require the complete data offering of the Enhanced Broadcast Solution.

The netted market data interface will utilize the FIX Adapted Streaming protocol (FAST) and have low bandwidth requirements.

The market data content provided will be the same as the market data content via VALUES API, i.e. order book depth of 10 for some futures and "top of book" for all other futures and all options products. Cross and Quote Request entries are included in the new interface.

Our FIX Gateway meets industry demand for standardization in the areas of pre-trading and trading communication. The Eurex FIX Gateway will have three fields of application:

• Order handling
  Client order ID chaining permits more precise tracking of orders
• Strategy functionality (including creation)
  Members benefit from a higher degree of customization and automated processing of complex, multi-leg strategies
• Trade capture on a member level (for order book and trade reversals only)
  Clearing members have access to one convenient, consolidated stream for NCM activity
  

The Eurex Clearing FIXML Interface, new with Eurex Release 14.0, reduces the costs associated with accessing Eurex Clearing, while simultaneously offering members greater flexibility and standardization in terms of technology. The interface is based on the industry standard FIXML. It is easy to integrate into members' existing IT infrastructures and requires no special programming efforts. Moreover, in combination with other of our optional interfaces, it will make the MISS infrastructure obsolete.

The implementation of the new clearing interface uses an incremental development methodology that allows earlier delivery of the new features to members. Individual features will be released to members over an extended period of time to smoothen the migration process. A variety of features were already introduced in mid-October 2011 and at the end of November 2011, and there are more to come in 2012.

First, each feature will be introduced in the simulation environment. Pending successful introduction, features will be subsequently introduced into the production environment.