Monday November 6 2017
News Source: Global Exchanges
Focus: Trading Systems and Technology
Type: General
On 3rd November 2017, Eurex announced that it will launch its new electronic price discovery platform. The platform allows a bank’s broker desks and inter-dealer brokers to contact market makers in order to find quotes for counterparty trading interests. Initially, the service will be available for fixed-income and money market derivatives, but other asset classes will be added soon.
Orders are automatically transmitted to Eurex’ T7 Entry Service (TES) for exchange-trade confirmation and post-trade processing. The service captures all data throughout the negotiation and makes it available to the member in order to support with the Best Execution requirements under MiFID II.
The new offering also supports market participants in their efforts to comply with MiFID II. The impending legislation will strengthen the emphasis on transparency and best execution as well as stricter rules on transaction reporting, research and trading. In this context, MiFID II will expect brokers to comply with stricter rules on data collection and proof of best execution.
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