T7 simulation focus day today
07 Nov 2024
T7 simulation focus day today Xetra Midpoint Orders
The following test day scenario es recommended in Xetra T7 simulation today:
- Xetra Midpoint Orders - effective all day
With the launch of T7 Release 13.0, Xetra introduces a new trading model called Xetra Midpoint. This service allows trades to be executed at the midpoint price between the highest bid and lowest offer, based on real-time data from Xetra’s main order book. The Xetra Midpoint order book is not visible to the public (also known as a "dark" book).
The new service supports two types of orders:
- Midpoint Orders: These are only executed within the dark Xetra Midpoint order book.
- Sweep Orders: Any remaining portion of a sweep order, after attempting to execute within the midpoint, is automatically moved to the visible Xetra order book in a single, synchronized transaction. This synchronization ensures that these orders don’t face any delay compared to orders directly placed in the visible order book.
More details on the focus days are available in the Simulation Guide (Chapter 5.4.1), available on the website.