Eurex Enhances EnLight with FX Derivatives

Eurex, the leading European derivatives exchange and one of the leading clearing houses globally, has announced last week that it has extended its EnLight, a fully integrated exchange Request for Quotes (RFQ) platform, by adding FX derivatives.

FX products offered by Eurex include FX Futures, Options on FX Futures and Rolling Spot Futures. These products will be migrated onto the Eurex T7 platform at the end of May. Additionally, the company’s integrated T7 RFQ mechanism will be extended for the purpose of covering its growing FX market.

“Since the FX market continues to grow, we want to make sure that clients are able to source the most competitive liquidity and benefit from the full suite of execution models. 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,” said Andre Eue, Head of Market Development, and Joshua Hurley, FX Sales and Business Development at Eurex.

“Liquidity providers will continue to benefit from rebates for their Eurex EnLight activities, enabling them to focus on providing clients the best possible prices,” they added.

Besides, 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.

According to Andre and Joshua, all equity and equity index futures and options have been available on Eurex EnLight since March. FX was the next step. The complete range of fixed income futures and options will be available later this year.