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
Circulars
Circulars
- Eurex Circular 000/25 Announcement of T7 Release 14.0
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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Contacts
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