Deutsche Börse has introduced a further-developed version of its electronic trading system on Monday. With the new version Xetra Release 15.0, the Frankfurt Stock Exchange operator offers, above all, new risk management functions.
“Our primary aim in consistently developing our system is to continuously improve security in electronic trading. Release 15.0 contains new elements that enable our trading participants to implement more targeted risk management, while simultaneously strengthening price quality,” commented Dr Martin Reck, Cash Market Managing Director at Deutsche Börse.
The new “Trading Risk Limits” function, for example, gives all Xetra participants the option of specifying their own risk strategy for their trading positions by entering thresholds. Effective immediately, liquidity interruptions and mini-auctions have also been introduced as additional security mechanisms in trading with designated sponsors. The two new functions improve trading quality through Designated Sponsor participation in the order book.
The new release will have an opt-out feature for Xetra Midpoint orders. This means participants can decide individually for every Midpoint order whether it should be sent to the Block Agent in anonymised form. In addition, improvements have been made to the Xetra FIX interface and the flagging of algorithmic trading.