Eurex expands EnLight with FX derivatives
Eurex EnLight, the fully integrated RFQ platform, already available for most equity, equity index and fixed income options and futures tradable on Eurex, has been further extended. Shortly after the migration of the FX products onto the Eurex T7 platform on May 31, 2021, the integrated T7 RFQ mechanism will also be expanded to cover the growing FX market.
Since the FX market continues to grow, Eurex seeks to make sure that clients are able to source the most competitive liquidity and benefit from the full suite of execution models. Request for Quotes (RFQ) is a common execution protocol in wider FX markets, and clients are also trading in large sizes so it makes complete sense to also offer this for FX and provide execution options that complement the orderbook.
Liquidity providers will continue to benefit from rebates for their Eurex EnLight activities, enabling them to focus on providing clients the best possible prices.
All Eurex members have direct access to Eurex EnLight via the user interface. No additional contracts or setups are required to use the fully electronic straight-through processing system, which also provides users with best execution reports.
If liquidity providers want to appear in the Eurex EnLight responder list, they can upload an appropriate trader ID with just a few clicks. It is also worth noting that Eurex EnLight is a fully integrated on-exchange, off-book mechanism that can be used free of charge.
Since March, all equity and equity index futures and options have been available on Eurex EnLight. FX was the next step. The complete range of fixed income futures and options will be available later this year.