Trading Technologies and Eurex are collaborating to offer direct access to the German exchange’s EnLight selective request-for-quote (RFQ) solution from within the TT platform.
Eurex EnLight is a fully integrated exchange RFQ platform which replicates the core aspects of voice trading.
It also includes straight-through processing and compliance controls, including automatic electronic price formation, data collection, audit trail functionality and timely information retrieval to meet MiFID II and MiFIR best execution requirements.
The Eurex EnLight on TT solution, which will be available by the end of the year, will cover all equity, equity index and fixed income options and corresponding futures traded on Eurex plus all FX derivatives.
It will also enable institutions on TT’s global distribution network to streamline their RFQs and larger scale, complex trade execution activity on a single screen.
Up until now, most activity on Eurex EnLight was through the bourse’s front-end platform.
The companies said that EnLight on TT will also further reduce the time-to-market of price discovery from multiple participants.
Moreover, buy side firms, banks and those with larger scale execution requirements not suited for the central limit order book will be able to extend and accept quotes from specific market participants they have relationships with.
This includes including market makers and inter-dealer brokers, directly from their trading screens.
“We’re pleased to partner with Eurex on this ambitious project that gives our clients convenient new ways of managing their large-scale orders and participating in the exchange’s diverse product offering from within the TT platform,” said Steve Stewart, TT EVP Sales – EMEA & Europe region manager.
He added, “We are constantly exploring new avenues for helping them easily access new trading opportunities and achieve new efficiencies.”
Thomas Martin, Eurex EnLight product manager, said, “This new partnership breaks down entry barriers and provides easy access to all the operational advantages of Eurex EnLight.
With direct access to Eurex’s vast membership base of liquidity providers, we expect this partnership will lead to increased market liquidity and volume growth.”
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