Frankfurt am Main, Germany, 7-8-2014 — /EuropaWire/ — Eurex Group introduced connectivity of Trade Capture Platforms (TCPs) via the enhanced Multilateral Trade Registration (MTR) Service as of yesterday. The first TCPs are BrokerHub and Vectalis; ITG RFQ-hub intends to connect on 11 August.
The service expansion will increase the efficiency of block trade execution and processing for Eurex listed derivatives via an automated straight-through process (STP). Furthermore, it will enhance the transparency and audit trail throughout the trade lifecycle, from the preliminary negotiation to the final confirmation by the counterparties and acceptance by Eurex Clearing.
“We are pleased to welcome BrokerHub, ITG RFQ-hub and Vectalis as the first Trade Capture platforms to establish direct connectivity to the Eurex Trade Entry Services. With the enhancement, clients will benefit from an STP trade registration and clearing process. We look forward to strengthening our collaboration and further expanding the offering,” said Matthias Graulich, Chief Client Officer and member of the Eurex Clearing board.
“With the enhanced MTR Service, interdealer brokers and customers will benefit from higher level of effectiveness. Block trades will be created from an equity derivative indication of interest, streamlining PDF ticket generation and enriching invoices with Eurex trade reference numbers,” said Pierre De Vos, Managing Director, BrokerHub.
“Our clients are excited about the collaboration with Eurex Clearing on connectivity via the enhanced MTR Service. New regulation will place a premium on efficient, flexible workflow-focused solutions across the transaction chain,” said David Sagnier, Head of RFQ Platforms at ITG.
“Collaborating on the development of the TCP project has been a great experience. Vectalis is definitively willing to achieve further synergies and to accompany Eurex Clearing on the path to bring the industry more efficiency and quality,” said Julien Flaquieres, Head of Business Development at Vectalis.
Eurex Trade Entry Services enable participants to enter off-book trades in the Eurex System. The Multilateral Trade Registration facility supports pre-negotiated off-book trades with multiple counterparties.
BrokerHub is an IT service provider with headquarters in Paris/London and a regional office in Hong Kong. The BrokerHub front office tool is used for Equity Derivatives interdealer brokers. The platform offers a full suite of functionalities with publishing of indications of interest to Eurex trading members, generation of PDF confirmations and automatic monthly invoices.
About ITG RFQ-hub
ITG Software Solutions France is the company that develops and commercializes ITG RFQ-hub software, a bilateral multi-dealer platform. The application offers streamlined Request-For-Quotes, IOIs, trade axes and targeted care orders in cash equities, OTC and listed derivatives (vanilla and structured products) on global underlyings. With all the major investment banks and market-makers onboard, ITG RFQ-hub provides the ability for global institutional buy-sides to harness liquidity across the widest spectrum of instruments.
Vectalis is an IT service company with more than 10 years’ experience in providing a price discovery platform dedicated to Equity Derivatives strategies called UTS. Via Vectalis’ UTS electronic service, interdealer brokers disseminate Indications Of Interests (IOIs) on both indices and single stocks to traders. The strategies available in the system go from plain vanillas to light structured products and exotics products. Vectalis’ service is implemented in EMEA (headquarters in Paris, France) and ASIAPAC (representative office in Hong Kong, China).
About Eurex Group
Eurex Group turns ideas into opportunities – in trading and clearing, technology and risk management. Each of our six businesses is a leader and innovator in their own area. Eurex Exchange was the world’s first electronic cross-border exchange, now offering around 2,000 products across a growing range of asset classes. Eurex Clearing is one of the leading central counterparties globally and a pioneer in risk management and post-trade technology, offering clearing services for derivatives, equities, bonds and secured funding & financing transactions.
In the U.S., the International Securities Exchange (ISE) transformed the options industry as the first all-electronic exchange and is now one of the world’s largest equity options exchanges.
The European Energy Exchange (EEX) is Europe’s largest market for trading in energy and related commodities.
Eurex Repo is the leading market for secured funding & financing in Europe. And Eurex Bonds is one of the most liquid markets for European bonds on an electronic trading platform.
Partnering with other industry leaders, investors and regulators around the world, our people are shaping an environment where all participants can get more from the market.
Eurex Group is owned by Deutsche Börse AG (Xetra: DB1).
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