Europe’s largest derivatives exchange will launch an electronic price discovery platform in Q4. The platform will allow bank’s broker desks and interdealer brokers to contact market makers with request for quotes in order to find a counterpart to a trading interest. Initially, the service will be available for fixed-income and money market derivatives, but other asset classes will be added soon.
Orders are automatically transmitted to Eurex’ T7 Entry Service (TES) for exchange-trade confirmation and post-trade processing. The service captures all data throughout the negotiation and makes it available to the member in order to support with the Best Execution requirements under MiFID II.