Stop Button Facility for Trading MembersEurex continues to build on the stop button facility that was introduced with Release 10.0. With Release 10.0, Clearing Members were given a stop button that they can use to prevent Non-Clearing Members from continuing to trade. This functionality has been deployed in order to offer better risk protection for all traders, but with a focus on algorithmic trading engines. With Eurex Release 11.0, members will be able to trigger a "stop" action on specific traders, which will disconnect specific trader IDs 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. A "stop" action will set all trading-related Resource Access Levels (RALs) of the specified trader ID to zero for on-exchange orders and OTC trades. Triggering a "stop" action will have the following implications for the affected trader subgroup:
In case a trader is released, all specific trading RALs have to be re-set manually. Please note: Orders and quotes for a product in state FREEZE will not be deleted by stopping a trader.        |
