TT and Eurex in RFQ Collaboration

Trading Technologies (TT) and derivatives exchange Eurex have entered into a commercial partnership in which TT will offer direct access to the Eurex EnLight selective request-for-quote (RFQ) solution from within the TT platform.

The firms say the agreement will give institutions on TT’s distribution network the opportunity to streamline their RFQ and larger scale, complex trade execution activity on a single screen. The agreement will cover equity, fixed income and FX derivatives.

Up until now, most activity on Eurex EnLight has taken place through the Eurex front-end platform, but the firms say with the arrangement, buy-side institutions, banks and others with larger scale execution requirements not suited for the central limit order book will be able to extend and accept quotes from specific market participants with which they have relationships, including market makers and inter-dealer brokers, directly from their trading screens.

“This ambitious project that gives our clients convenient new ways of managing their large-scale orders and participating in the Eurex’ diverse product offering from within the TT platform,” says Steve Stewart, TT EVP sales – EMEA & Europe region manager.

Thomas Martin, Eurex EnLight product manager, adds, “This new partnership breaks down entry barriers and provides easy access to all the operational advantages of Eurex EnLight. With direct access to Eurex’s vast membership base of liquidity providers, we expect this partnership will lead to increased market liquidity and volume growth.”