T7 Release 14.0
With T7 Release 14.0 the following enhancements will be introduced:
- Synthetic Matching for Butterflies and Condors
- Self-Match Prevention Enhancements
- Sponsored Access
- TRF Forward Implied Spreads
Simulation start: 01 September 2025
Production start: 10 November 2025
Post Release Functional Activation Dates
17 Nov | Functional activation of Synthetic Matching for Butterflies and Condors |
17 Nov | Introduction of Sponsored Access |
24 Nov | Functional activation of TRF Forward Implied Spreads |
01 Dec | Functional activation of Self-Match Prevention Enhancements |
For more information, please refer to the Eurex Circular 091/25.
System Documentation
- T7 Release 14.0 - Final Functional Technical Release Notes Eurex, Version 1
- Published 18 Aug 2025 - The release notes for T7 give an overview of the functional and technical enhancements and changes to be introduced.
- T7 Release 14.0 - Functional Reference, Version 3
Published 30 Oct 2025 - This document provides a detailed insight into the functional concepts of the T7 trading architecture. - T7 Release 14.0 - Functional and Interface Overview, Version 1
Published 18 Aug 2025 - The document provides an overview of T7. It describes the major functional and system features and provides a high-level description of the interface landscape. - T7_Release 14.0 - Cross System Traceability, Version 1
Published 18 Aug 2025 - This document contains detailed information on order, quote and trade traceability across trading and clearing systems focusing on the markets XEUR (Eurex Frankfurt) and XETR (Xetra Frankfurt).
Enhanced Trading Interface
- Release 14.0 Enhanced Trading Interface Manual, Version 2
Published 18 Aug 2025 - The document provides information relating to the T7 Enhanced Trading Interface (ETI) and contains a detailed description of the concepts and the messages used by the interface for both the Cash and Derivatives Markets. - T7 Release 14.0 Enhanced Trading Interface - Derivatives Message Reference, Version 2
Published 18 Aug2025 - This document provides a reference to all message formats for the Enhanced Trading Interface derivatives markets. - T7 Release 14.0 Enhanced Trading Interface - Cash Message Reference, Version 2
Published 18 Aug 2025 - This document provides a reference to all message formats for the Enhanced Trading Interface cash markets. - T7 Release 14.0 Enhanced Trading Interface - XSD XML representation and layouts, Version 2
Published 18 Aug 2025 - The package contains the XML representation and the schema files for the Enhanced Trading Interface (ETI) for both the Cash and Derivatives Markets. - T7 Production Public Key for ETI password encryption [sequence no. 3]
Published 11 May 2025 - Public key for ETI session and user login with password encryption. - T7 Production Public Key for ETI password encryption [sequence no. 2]
Published 20 May 2024 - Public key for ETI session and user login with password encryption. - T7 Simulation Public Key for ETI password encryption [sequence no. 3]
Published 28 Mar 2025 - Public key for ETI session and user login with password encryption. - T7 Simulation Public Key for ETI password encryption [sequence no. 2]
Published 22 Mar 2024 - Public key for ETI session and user login with password encryption.
FIX LF
- T7 Release 14.0 FIX LF Interface - FIX LF Manual, Version 1
Published 1 Aug 2025 - This document provides a reference to all message formats for the Enhanced Trading Interface derivatives markets. - T7 Release 14.0 FIX LF Interface - Derivatives Message Reference, Version 1
Published 1 Aug 2025 - The purpose of this document is to provide all message formats for the derivatives markets part of the FIX LF interface. - T7 Release 14.0 FIX LF Interface - Cash Message Reference, Version 1
Published 1 Aug 2025 - The purpose of this document is to provide all message formats for the cash markets part of the FIX LF interface. - T7 Release 14.0 FIX LF XSD XML representation and layouts, Version 1
Published 1 Aug 2025 - The package contains the QuickFix Engine dictionaries (FIXLF44_Derivatives.xml, FIXLF44_Cash.xml) and message reference files including message and field descriptions (FIXLF_DerivativesExt.xml, FIXLF_CashExt.xml) for the T7 FIX LF interface per marketplace type.
- T7 Release 14.0 Enhanced Drop Copy Interface - Manual, Version 1
Published 1 Aug 2025 - The T7 Enhanced Drop Copy Interface (EDCI) is a service for both Trading participants and Clearing members providing order information. The purpose of this document is to provide participants with documentation of the current version of the interface, describing its main concepts. - T7 Release 14.0 Enhanced Drop Copy Interface Interface - Derivatives Message Reference, Version 1
Published 1 Aug 2025 - The purpose of this document is to provide all message formats for the derivatives market part of the Enhanced Drop Copy Interface. - T7 Release 14.0 Enhanced Drop Copy Interface Interface XSD & XML File, Version 1
Published 1 Aug 2025 - The package contains the XSD file for EDCI and the XML file for the derivates EDCI messages.
- T7 Release 14.0 Market and Reference Data Interfaces Manual, Version 2
Published 27 Oct 2025 - The document provides information relating to the market and reference data interfaces (EMDI, MDI, RDI and RDF) and contains a detailed description of the concepts and messages used by the interfaces. - T7 Release 14.0 Market + Reference Data Interfaces XML FAST Templates - FIXML schema files, Version 2
Published 27 Oct 2025 - The package contains the XML FAST template files (FAST 1.1 and 1.2) and FIXML schema files for the T7 market and reference data interfaces (EMDI, MDI and RDI). - T7 Release 14.0 Enhanced Order Book Interface Manual, Version 2
Published 18 Aug 2025 - The document provides information relating to the T7 Enhanced Order Book Interface (EOBI) and contains a detailed description of the concepts and messages used by the interfaces. - T7 Release 14.0 Enhanced Order Book Interface XML Representation, Version 2
Published 18 Aug 2025 - The package contains the XML representation and the schema files for the T7 Enhanced Order Book Interface (EOBI). - T7 Release 14.0 - Extended Market Data Service Trade Prices, Settlement Prices and Open Interest Data Manual, Version 1
Published 18 Aug 2025 - The document provides information relating to the market and reference data interfaces (EMDI, MDI, RDI and RDF) and contains a detailed description of the concepts and messages used by the interfaces. - T7 Release 14.0 - Extended Market Data Service - XML FAST Templates - FIXML schema files, Version 1
Published 18 Aug 2025 - The package contains the XML FAST template files (FAST 1.1 and 1.2) and FIXML schema files for the T7 market and reference data interfaces (EMDI, MDI and RDI). - T7 Release 14.0 - Extended Market Data Service - Underlying Ticker - Manual, Version 1
Published 18 Aug 2025 - This document provides the information about the Underlying Ticker service for T7. - T7 Release 14.0 - Extended Market Data Service - Underlying Ticker Service - XML FAST Templates, Version 1
Published 18 Aug 2025 - This document provides the XML FAST templates for the Underlying Ticker service for T7. - T7 Release 14.0 - Eurex Market Signals Version 1
Published 18 Aug 2025 - The document contains the manual providing detailed information about the Eurex Market Signals. - T7 Release 14.0 - Eurex Market Signals - XML FAST Templates Version 1
Published 18 Aug 2025 - The package contains the XML representation and the schema files for Eurex Market Signals.
- T7 Release 14.0 Derivatives Markets Trader, Admin and Clearer GUI Manual, Version 1
Published 1 Aug 2025 - This document provides information on the T7 Derivatives Markets GUI solutions, the Trader-, Admin- and Clearer GUI for T7. All views and functions of the T7 Derivatives Markets GUIs are described. - T7 Release 14.0 Cash Markets Trader, Admin and Clearer GUI Manual, Version 2
Published 1 Sep 2025 - This document provides information on the T7 Cash Markets GUI solutions, the Trader-, Admin- and Clearer GUI for T7. All views and functions of the T7 Cash Markets GUIs are described. - T7 Release 14.0 - Trader GUI, Admin GUI and Clearer GUI - Installation Manual, Version 2
Published 16 Sep 2025 - This document provides information on Deutsche Börse's T7 GUI solutions, the T7 Trader GUI, T7 Admin GUI and T7 Clearer GUI from a technical point of view. The document explains how to establish connection to Deutsche Börse's T7 with the GUI solutions. - T7 Release 14.0 - Derivatives Market Eurex - Participant and User Maintenance Manual, Version 1
Published 18 Aug 2025 - This manual is intended to assist service administrators who are responsible for maintaining participant and user related data in T7. - T7 Release 14.0 - Cash Markets - Xetra and Börse Frankfurt: Participant and User Maintenance Manual, Version 1
Published 18 Aug 2025 - This manual is intended to assist service administrators who are responsible for maintaining participant and user related data in T7 - T7 Release 14.0 - Web App Connectivity Guide, Version 2
Published 23 Sep 2025 - This document describes the connectivity options and setup process to access GUIs from the T7 Web App family.
- N7_-_Network_Access_Guide.v.2.9.1
Published 23 Sep 2025 - This document provides details on the network access options for T7 and Eurex Clearing's interfaces. It includes detailed technical background information, such as router equipment information and port numbers for the configuration of firewalls. - T7 Disaster Recovery Concept 2025 - Interface Configuration Details v.1.2
Published 101 Sep 2025 - This document provides an overview of Deutsche Börse’s disaster recovery concept for the T7 trading system. It contains the required technical background information as well as functional features and limitations to enable participants to continue trading in a DR situation.
- T7 Release 14.0 XML Report Reference Manual, Version 3
Published 23 Sep 2025 - This document describes all reports based on T7 trading data for both the cash and derivatives markets. - T7 Release 14.0 XML Report Manual Modification Notes, Version 3
Published 23 Sep 2025 - This document provides an overview of the enhancements and changes to the T7 XML Reports as compared to the previous version. - T7 Release 14.0 Reports - XML Schema Files, Version 3
Published 23 Sep 2025 - This package contains the reports xsd files for T7 cash markets and derivatives markets reports. - Common Report & Upload Engine User Guide - Version August 2025
Published 18 Aug 2025 - The Common Report Engine allows the centralised provisioning of reports and the Common Upload Engine the upload of files. The manual contains everything from access information to the CRE & CUE and report/file naming conventions for CRE.
- T7 Release 14.0 - Participant Simulation Guide, Version 2
Published 1 Sep 2025 - This document describes the timeline, new and changed features as well as the simulation focus days for this T7 release. Please use this document to plan and prepare your T7 Release simulation participation. - Known Limitations for T7 Release 14.0 Simulation, Version 1
Published 1 Sep 2025 - This document lists the current known limitations for the T7 Release simulation. -
T7 Release 14.0 - Trading Parameters (Simulation)
Published 11 Sep 2025 - This file contains the trading parameters for the Eurex T7 Release 14.0 simulation environment.
- T7 Incident Handling Guide v.5.8
Published 18 Aug 2025 - This document provides a detailed description of the reaction of Deutsche Börse's T7 trading system to technical incidents and provides best practices for handling them. In addition the document provides references to the respective focus days in the T7 simulation environment which are intended to simulate such incidents. - Known Limitations for T7 Release 14.0 Production, Version 1
Published 7 Nov 2025 - This document lists the current known limitations for T7 Release.
- T7 Release 14.0 - Focus Call Presentation
Publication date: 12 Sep 2025 - T7 Release 14.0 - Focus Call Presentation Q&A
Publication date: 12 Sep 2025
Circulars
Circulars
- Eurex Circular 095/25 T7 Release 14.0: Introduction of a new Service Fee for SMP Functionality
- Eurex Circular 094/25 T7 Release 14.0: Important information for production start
- Eurex Circular 091/25 T7 Release 14.0: Announcement on Eurex T7 Functionality activations after Release Launch Date
- Eurex Circular 039/25 Announcement of T7 Release 14.0
Newsflahes
- Eurex Readiness Newsflash | T7 Release 14.0: Readiness Statement available
- Eurex Readiness Newsflash | T7 Release 14.0: Self Match Prevention: Adjustment of default in Simulation
- Eurex Readiness Newsflash | T7 Release 14.0: Simulation start and publication of documentation
Readiness Videos
Readiness Statement
We kindly ask all Trading Participants to submit the Readiness Statement for T7 Release 14.0 by Friday, 31 October 2025 latest.
For your convenience a online submission process has been published. The online Readiness Statement is here available: Readiness Statement. Please enter your dedicated Eurex PIN in the online questionnaire. The PIN is available for the Central Coordinator in the Member Section under the following path: My Profile > PIN.
Release Items/Participants Requirements
Feature/Enhancement | Details | Action Item |
Synthetic Matching for Butterflies and Condors in STIR Markets | Eurex is expanding its synthetic matching capabilities in STIR futures (FEU3, FST3) to include butterflies and condors, in addition to the existing calendar spread synthetics. How it works:
| Trading Participants need to consider these changes and perform sufficient testing. |
Self-Match Prevention Enhancements | The Self-Match Prevention (SMP) processing will be improved, to support different deletion instructions when an SMP event is detected and needs resolution. Traders can define SMP deletion instructions when entering an order or quote, and the incoming aggressive order or quote will set the SMP deletion context in case of an SMP event. | Trading Participants intending to use this functionality should perform sufficient testing. |
Sponsored Access | Eurex is introducing "Sponsored Access" (SpA) as a new way to access its markets, supplementing the existing "Direct Market Access" (DMA) and "Order Routing System" (ORS). Key Points:
| The registration process for SpA Provider and SpA User Companies will be conducted through the Member Section. Detailed information regarding the registration process will be communicated at a later stage. |
TRF Forward Implied Spreads | Eurex will offer Total Return Futures (TRF) Forward Implied Spreads for on-book and off-book trading. A TRF Forward Implied Spread is a two-leg strategy composed of contracts of the same TRF having different maturities.
| Trading Participants that would like to make use of this new feature need to adapt to these changes and perform sufficient testing. |
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