Eurex is extending its auto-approval functionality to EFP-financials off-book trades.

With the use of TES auto-approval rules, trade details can be pre-configured for various products, clients and in-house trading teams. This includes the used account, client info fields, open and close flags – just to name a few. Auto-approved off-book trades are hence booked directly and instantly, allowing participants to benefit from greater efficiency throughout the trade life-cycle.

As electronic workflows progress across different platforms, Eurex has collaborated with Tradeweb to offer an automated solution to streamline the reporting of Bond-Futures basis trades negotiated on their RFQ platform. By mapping TES auto-approval rules across both platforms, the futures leg of combined EFP-Fin trades agreed on Tradeweb are then sent to Eurex, including the required details of the cash transaction that would otherwise have to be entered manually on Eurex.

“We are pleased to announce Nomura is the first client to go live with the auto-approval service for exchange for physical (EFP) offered by Eurex and Tradeweb” – Lee Bartholomew, Global Head of Fixed Income and Currencies ETD Product Design, Eurex.