In order to reduce the complexity on the participant side active in FX products on the T7-FX trading system, Eurex Exchange will replace the existing dual-gateway solution with the Passive Liquidity Protection (PLP).

With this change, Eurex Exchange only replaces a hardware-based solution with a software-based solution, but does not intend to change the overall FX market structure. The deferral time remains at the current level. The introduction will take place together with T7 Release 7.1 on
27 May 2019.

PLP will be activated in the simulation environment for all FX products with a production-like deferral time starting on 29 April 2019.

In order to replace the existing dual latency paths for the Eurex T7/FX Market with the Passive Liquidity Protection, amendments of the General Terms and Conditions to the Connection Agreement and to the General Terms and Conditions to the Provider Connection Agreement are necessary (as attached to this circular). These amendments will come into effect on 27 May 2019.