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How is Eurex Structured?

Eurex - European Exchange - provides a cross-border market that meets the trading and clearing requirements of market participants on a global level.

In December 1996, Deutsche Börse AG (DBAG) and the Swiss Stock Exchange (SWX) agreed to establish a joint trading platform (via a Letter of Intent). During 1998, DTB (Deutsche Terminbörse) and SOFFEX (Swiss Options and Financial Futures Exchange) merged to become Eurex (European Exchange), both in technical and organisational terms.

A joint trading and clearing platform has been available to market participants of both exchanges since September 1998. Based on traded contracts, Eurex Exchange is one of the three largest derivative exchanges worldwide.

All companies/legal entities, that form together Eurex Group, belong to Deutsche Börse AG. The Eurex Exchange host computers are located in Frankfurt.

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Networked computer terminals give market participants direct access to trading on Eurex Exchange, irrespective of their location.

With its new trading architecture, Eurex Exchange offers its participants a number of interfaces. So-called gateways act as entry points for transactions. Market and reference data are sent via multicast. Multicast is a broadcast service with which messages can be sent to multiple recipients simultaneously.

Eurex Exchange provides its participant a GUI (graphical user interface) for communication with the system (for instance for inserting orders).

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Eurex Exchange offers multiple interfaces for trading. Interfaces exist for market participants that require a high performance (enhanced interfaces).

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Eurex ETI is the high performance trading interface designed for participants who require the highest throughput and lowest latency. The Eurex ETI provides all trading functions including market making.

Member firms have actively adopted the use of Eurex's interfaces. In fact, by Q3 2011, more than 90 percent of all options orders and quotes and between 80 and 90 percent of all futures orders were entered using the Enhanced Transaction Solution.
More information about the high performance services Enhanced Broadcast Solution, Enhanced Transaction Solution, Enhanced Risk Solution and Enhanced Confirmation Solution you will find here: Technology and Enhanced Interfaces

Eurex FIX Gateway is an interface intended for participants who require a standard FIX connection to the exchange. FIX stands for Financial Information eXchange and is a standard data message format in the financial industry for trading.

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