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Eurex RFQ platform

Eurex RFQ platform

Addition to the Eurex Market Structure

Eurex takes another strategic step and further enhances its market structure by applying its core competences around transparency and process efficiencies to the Over the Counter market.

Eurex will further expand and enhance its existing market structure with an electronic price discovery service 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.

New RFQ platform brings together Brokers and Market Makers to negotiate safely off-book and sends struck deals STP to the existing T7 Entry Service.

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 will ultimately improve overall market liquidity and increase structural diversity.

Value proposition

Effective technology to assist members with their MiFID II  compliance obligations
Addresses member limitations around current price discovery process 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. 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 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. The platform will be introduced with T7 release 6.0, please find all the relevant documentation here.

Randolf Roth: ETD Off-Book business prepares for MiFID II

For the last two years Eurex has been heavily engaged with understanding how MiFID II will impact its business and how to address these new regulatory hurdles. Eurex was also determined to understand how the new regulatory regime would affect its members so that it might be able to use its existing expertise to solve not only its own compliance requirements, but also those of its members by providing genuinely innovative solutions. To this end, MiFID II has become a catalyst for change, presenting not only challenges around compliance but opportunities as well.

Video with Randolf Roth on Eurex's new RFQ Platform

In a recent interview with TheTrade, Randolf Roth, Member of the Executive Board, Eurex spoke with Joe Parson, Editor, TheTrade on Eurex’s latest RFQ platform.

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.

Vassily Pascalis

London Representative Office
Sales

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

T +44-20-78 62-72 11

Thomas Elm

Head of Market Models | London Representative Office

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

T +44 (0)20 7862 7271

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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