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Eurex EnLight

Eurex EnLight


The selective RFQ platform

Eurex took another strategic step to further enhance its market structure by applying its core competences around transparency and process efficiencies to the over-the-counter market.

Eurex further expands and enhances its existing market structure with the electronic price discovery service Eurex EnLight that allows banks and brokers to selectively contact Market Makers with requests for quotes in order to find a trading counterparty. Orders are then automatically transmitted to Eurex’ T7 Entry Service for exchange trade confirmation and post-trade processing.

From 19 June 2018, Eurex EnLight covers Swiss equity and equity index derivatives on top of the current fixed income products suite.

New RFQ platform brings together brokers and Market Makers to safely negotiate off-book trades

The fully automated solution replicates the core aspects of the voice business, while affording its users all the advantages of automatic electronic data collection and timely retrieval of all this information to meet Best Execution requirements. The increased electronification of the off-book business ultimately improves overall market liquidity and increases structural diversity. 

Key benefits

Effective technology to assist members with their MiFID II compliance obligations
Eurex EnLight addresses member limitations around current price discovery processes and assists members to comply with MiFIDII/MiFIR associated increased obligations, specifically around Best Execution.

Increased market efficiency
The new platform addresses the inherent inefficiencies and problems around coping with large, more complex strategies, while reducing the time-to-market of price discovery. It allows for improved intelligence capabilities via collection and analysis of price formation data.

Improved compliance controls
Fully electronic platform with comprehensive audit trail functionality. Analysis of available data facilitates more informed decisions around quoting and the selection of counterparties.

A new way to source liquidity
Combination of electronification and process efficiencies will deepen liquidity in complex, large orders. 

Built on proven technology
Fully electronic price discovery platform developed in Eurex Exchange’s T7 trading architecture, with the ability to record and then present data via its reporting tools. 

Video: Eurex EnLight, the selective RFQ platform

Discover a new way to source liquidity - watch the video to learn more about how our new service provides efficiencies to the OTC market.

Market Note on Selective RFQ: Voice Bridging E-Trading

Read TABB Group’s market note and discover Eurex EnLight as a prime example of merging the old and the new trading paradigms.

Factsheet: Eurex’s new electronic price discovery platform

Read more in our factsheet on how the platform works and how the electronification of the off-book business will ultimately improve overall market liquidity.

Video tutorials: How to use Eurex EnLight on Eurex T7 GUI

Our experts explain how to initiate, negotiate and respond to RFQ and more. Explore Eurex EnLight on our T7 GUI now.


“It is not ‘either/or’. We need to do both.”

With Eurex EnLight, the exchange is venturing into a new realm – beyond regular order book-based exchange trading. It is taking a step that might become a blueprint for Deutsche Börse Group’s other trading sectors. Read more how Eurex has taken MiFID II as an opportunity that goes far beyond solving regulatory issues.  

Voice Goes Electronic - OTC Trading Under MiFID II

Watch TABB Group and Eurex Exchange for this complimentary webinar as we explore how market conditions and regulatory mandates are combining to drive the electronification of fixed-income derivatives markets. This webinar will explore how market conditions and regulatory mandates will combine to drive the electronification of most fixed income derivatives markets.

Vassily Pascalis

London Representative Office
Sales

11 Westferry Circus, 2nd Floor, Canary Wharf
London E14 4HE

T +44-20-78 62-72 11

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Philipp Schultze

Eurex Global Derivatives AG
Sales

Dammstrasse 19
6300 Zug

T +41-43-430-71 26

Simon G Brown

Market Models | London Representative Office

11 Westferry Circus, 2nd Floor, Canary Wharf
London E14 4HE

T +44 (0) 20 7862 7287

 

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