Wolfgang Eholzer, head of Eurex Trading IT, has seen his share of technology changes to exchange platforms. The latest, and biggest of his career, was the creation of a brand new trading platform for Eurex, called T7.

In this video, Eholzer spoke with John Lothian News editor-in-chief Jim Kharouf about building the new system and the thought process that went into the project, which has been rolled out gradually beginning in December 2012 and is now complete. In Eholzer’s view, the goal for T7 was to deliver three major benefits: more capacity, lower latency and improved functionality. While most exchanges like to tick off those three items, Eholzer said a lot of thought went into that. For one thing, the goal was “to make life easier for our members.”

He said that Eurex decided that it wanted to make upgrades an easy, or much easier, process for members. With T7, all interfaces are “socket interfaces” and even the graphic user interface from Eurex requires only a browser now.

The feedback on the new platform has generally been very positive, he said. The system is very stable and the technology is living up to its billing. On average, the system is 14 times faster than the prior platform. For options trading, trades are executed up to 40 times faster and four times faster on futures trades.

Next up, Eurex has one major upgrade this fall, on its market data interface. For futures, it will feature an order-by-order feed so members can see individual orders. Next year, Eholzer will focus on the next big task at hand – a replacement of the Eurex Clearing platform, which is due in mid-2014. The goal is to make its clearing platform more flexible and robust as well. A good idea given the push of OTC products through clearinghouses.

Eurex T7 trading platform resources

  • Eurex T7 on Eurex.com (link)
  • Eurex T7 implementation news (link)
  • Eurex T7 FAQs (link)
  • “Deutsche Börse Market Data + Services launches Virtualised Private Simulation” – Deutsche Börse Press Release (link)
  • Eurex on MarketsWiki.com (link)

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