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.