Overview

Eurex will launch its new software release, Eurex Release 11.0, on November 10, 2008.

The new release features various trading, risk management and clearing enhancements that increase the flexibility and efficiency of trading and clearing.

Highlights

• One-Cancels-the-Other (OCO) Order
  A new order type called the One-Cancels-the-Other (OCO) order will be introduced with Eurex Release 11.0. This new order type is particularly helpful for position management in volatile markets. It will be possible to enter OCO orders when using both the MISS platform and Enhanced Transaction Solution (ETS). OCO orders will be permitted only for single leg, price-time matched futures. more
  
  
• Spread Price Feed
  The spread price feed for futures calendar spreads will be enhanced to provide additional, real-time market depth information, which will provide traders with important information to assist in their decision-making processes. This enhanced market depth information will automatically be available only via the optional Enhanced Broadcast Solution interface. It will not be automatically provided in the Combination Overview window within the Eurex @X-ceed Trading GUI. more
  
  
• Event-Driven Risk Engine
  A new, event-driven risk engine will enable Eurex Clearing Members to receive the information they need on a more frequent basis in order to monitor their Non-Clearing Members' trading activity. This move takes an important step towards providing this essential information in real-time. more
  
  
• Stop Button Facility for Trading Members
  Members will be able to trigger a "stop" action on specific traders, which will cut specific trader IDs off from the marketplace. Triggering a "stop" action will make it impossible for the trader ID to engage in any further trading activities. It is important to note that a "stop" action will affect all IDs that are part of a trader subgroup. more
  
  
• Cash Routing Management Engine
  A cash module will be introduced, which centralizes Eurex Clearing's cash flows in order to handle them more efficiently. The engine will support the use of real-time gross settlement accounts in the Target 2 environment, allowing the use of non-German central bank accounts. more
  
  
• Collateral Management Engine
  The introduction of the collateral module engine means that the entry of collateral requests will now be electronic. Members can also use the GUI to check for themselves whether a specific type of collateral is accepted. more
  
  

Special Focus:

Eurex Release 11.0 will be backward compatible except for certain reports and VALUES API requests pertaining to collateral management and cash management that have been removed and/or substituted for different formats.

For more information, please refer to section two "Backward Compatibility" of the VALUES API Modification Notes.

The market launch of the new features is not necessarily the same as the release date of Eurex Release 11.0. The individual dates will be announced in separate Eurex circulars.