Eurex, Bloomberg, Collaborate on Enlight

A new collaboration between Bloomberg and Eurex will see users of the former’s Tradebook offering able to directly access Eurex member banks and market makers within the existing CCP environment.

The firms say the connection will mean firms can use their existing clearing broker relationship, negating the need for complex tri-party give-up agreements with Eurex market makers. It will be available for all equity options and futures traded on Eurex as well as for all FX derivatives.

The firms add the move will further automate the European off-book business for larger orders, whilst allowing firms to directly control and manage their own flow. Eurex market makers can respond directly to this flow without any additional costs, affording them the “possibility” of offering tighter spreads and greater participation.

“Direct access to Enlight through Bloomberg Tradebook represents a major step forward in providing market participants with greater efficiency, cost savings, and control in off-book trading,” says André Eue, head of market development & pricing at Eurex. “We look forward to continuing to provide clients with tools that enable them to efficiently and effectively identify new trading opportunities.”

Brian Coffaro, global head of futures and options trading at Bloomberg, adds, “The connectivity between Eurex and the Bloomberg Tradebook front end enables us to deliver a more streamlined trading workflow to our mutual clients.”