Matcher Performance Improvement

In order to further reduce latency for customers, Eurex will change the way how it handles messages pertaining to order book activity that are sent to members. As a result of these changes, messages relating to non-persistent orders and quotes will be faster while messages relating to persistent orders will be slower. In addition the processing of persistent orders will no longer impact the processing time for non-persistent orders.

Eurex will continue to allow customers to select which order type they prefer so that individual users can choose to prioritize speed or reliability.

From a functional standpoint, there will be no change to order book related messages generated for persistent orders (synchronous responses, all order confirmation and info notifications) as well as recoverable data streams (trade confirmations, matching event broadcasts, event notifications).

Increased Speed of Non-Persistent Orders

Order response information for persistent orders will still be sent out after the transaction has been completed. On the other hand, non-persistent orders and quotes will be sent out immediately after the order/quote has been processed by the core matching process, but before the transaction is finally completed.

In the rare case that a technical failure on the back-end occurs, members may receive erroneous execution statuses. In such infrequent cases, Eurex will inform members that they must rely on a recoverable data stream to determine and resolve any discrepancies.

Change in Execution Status of Non-Persistent Orders

If a technical failure occurs on the Eurex back-end, a Market Reallocation Event message will be sent out automatically indicating that the execution status of the non-persistent orders or quotes entered most recently might be not correct. A Market Reallocation Event message will be sent out to all members who have submitted non-persistent orders or quotes to the market.