Technology

As markets change, we adapt. Increases in algorithmic trading, the development of new trading strategies, the introduction of new products as well as the increasing market need for more information require the most reliable and robust technology. Our technology, which is based on the proven Eurex® system, delivers just that. As a result of many years of continuous investment, market consultation, and regular upgrades, our superior technology ensures that we remain at the forefront of our industry.

Eurex Release 14.0

The new release gives members both greater choice and enhanced flexibility in how they connect to the Eurex network. New connectivity options that feature the industry standards FIX and FIXML are major components of Eurex Release 14.0.

The software upgrade also lays the groundwork for a medium-term decommissioning of the VALUES API/MISS infrastructure for trading and clearing.

In addition to its focus on connectivity, the new release contains a number of enhancements in the area of clearing and risk:

Eurex Clearing FIXML Interface

The new clearing interface aims to reduce costs for accessing Eurex Clearing by utilizing the industry standard FIXML. In addition to introducing FIXML that reduces programming efforts, this interface permit members to decommission their MISS infrastructures for clearing in the medium term.

Collateral management service enhancements

With the introduction of Eurex Release 14.0 clearing members are able to request intraday cash collateral withdrawals or cash collateral deposits via the clearing GUI. This reduces operational complexity and enhances user friendliness. Additionally, several other collateral management tasks have been streamlined, for example the automatic processing of cash deposits and releases.

Improvements to Advanced Risk Protection service

The popular Advanced Risk Protection has been enhanced also to cover transactions entered via EurexOTC Trade Entry services. Eurex Clearing will calculate an indicative amount that reflects the risk involved in a given OTC transaction, which is checked against a pre-defined risk limit. Trades that would breach risk limits will be rejected.

Learn more about all changes from Eurex Release 14.0.

Eurex Release 13.0

The new software release empowers members with more proactive risk management to further increase control and introduces greater flexibility in clearing. With the new release we further serve the market by providing new ways to facilitate risk management processes and, at the same time, increase market safety overall.

Learn more about our advanced risk control tools.

Though the new release focuses in on risk, it also contains a wide range of innovations that further advance Eurex. The release introduces several enhancements in trading and clearing, the latest technology, a new optional interface and optimized functionality of our existing interfaces.

Learn more about all changes from Eurex Release 13.0.

Eurex Release 12.0

Eurex Release 12.0 introduces innovative clearing and trading features and will support projects, such as the Eurex/ISE Link and the Eurex/KRX Link.

In addition to the software changes for the links with the International Securities Exchange (ISE) and the Korea Exchange (KRX), users will also benefit from optimized usability such as an extended Multilateral Trade Registration facility and an improved OTC Volatility Strategy Trade facility for equity options that now features an integrated cash equity leg.

With this release, Eurex will be the first exchange to adopt AMQP - Advanced Message Queuing Protocol. This standard protocol for business messaging will be used by Eurex Clearing's new interface "Enhanced Risk Solution" to provide real-time risk management data in FIXML format. Therefore, Eurex Clearing is the world's only clearing house to control risk continuously by recalculating positions in real-time.

Learn more about all changes from Eurex Release 12.0.

CCP 4.1

In November 2008, CCP Release 4.1 was launched. With CCP 4.1 Eurex Clearing differentiated its clearing services into several service modules. Members can choose three different service levels - from a basic trade date netting service to our full service, offering sophisticated delivery management and reporting facilities to support our member's in house processing. View CCP 4.1 Release Notes in the member section (login required) of the Eurex website for more details.

Eurex Release 11.0

Enhancements include the introduction of:

• Real-time risk monitoring
• Collateral management engine
• Cash routing management engine
• Cross currency set-up of products and underlyings

These major enhancements to our technology will ensure that we remain the leading clearing house - and in the best position to serve you. Learn more.