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Market models

Market models

Eurex EnLight, Improve and PLP:
Three initiatives to enhance market structure


Investment behavior and regulations evolve. As a result, we continuously review our market models to see how we can best incorporate regulatory changes and support our customers. When needed, we adapt and enhance our market models to attract as much diversified flow as possible to our main tool, the central limit order book

Eurex developed three initiatives to further strengthen the central limit order book and to bring off-book price formation on-exchange. All three initiatives, Eurex EnLight, Eurex Improve and Passive Liquidity Protection, are built to enhance the price discovery process, supporting both the buy side while at the same time serving the sell side’s needs. 

Eurex EnLight is our solution for on-exchange, off-book price discovery in large-scale orders that ensure transparent and efficient off-book trade negotiations and execution.

Eurex Improve will provide our members with a tool to guarantee their end-customers full executions of any trade quantity capped at the minimum block trade size at the best available market price. The service is fully integrated in the central limit order book. 

Passive Liquidity Protection addresses the speed disadvantage that some liquidity providers have in the central limit order book versus certain aggressive super-fast strategies. It enables them to strengthen their focus on the needs of end-clients such as institutional investors.  

Aside from these market models, Eurex is offering its T7 Entry Service functionality, where the transaction is agreed bilaterally or multilaterally outside the exchange. The order information is then entered into the T7 trading system for clearing and settlement purposes, as well as clearing and settlement-related transactions like option exercises/assignments and notifications/allocations against positions in fixed income futures.
 

Video with Randolf Roth: new market structures

The Eurex market structure roadmap is strengthening the order book and establishes new liquidity pools for those orders where liquidity is missing yet.

Frontiers Between On- and Off-Book Markets

As electronification gains pace, transparency and the need for rigorous compliance remain key considerations, all while market participants strive to compete.

Eurex EnLight - the selective RFQ platform

Designed to enhance market structure by combining off-book liquidity with on-exchange efficiency.

Eurex Improve - new matching functionality

Attracting additional customer flow to the exchange.

PLP - balancing speed disadvantages

Enabling liquidity providers to strenghten their focus on the needs of their end-clients.

Eurex T7 Entry Services

Enabling Trading Participants to enter order information for off-book transactions to the Eurex® system.

 

Market Status

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Parts of the trading system are currently experiencing technical issues

The trading system is currently experiencing technical issues

Production newsboard

The market status window is an indication regarding the current technical availability of the trading system. It indicates whether news board messages regarding current technical issues of the trading system have been published or will be published shortly.

We strongly recommend not to take any decisions based on the indications in the market status window but to always check the production news board for comprehensive information on an incident.

An instant update of the Market Status requires an enabled up-to date Java™ version within the browser.