Eurex Group has introduced the connectivity of Trade Capture Platforms (TCPs) through the enhanced Multilateral Trade Registration (MTR) Service. The first users of TCPs are BrokerHub and Vectalis, with ITG RFQ-hub intending to connect on 11 August.
The service expansion will increase the efficiency of block trade execution and processing for Eurex listed derivatives through an automated straight-through process (STP). The platform 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.
Matthias Graulich, COO and member of the Eurex Clearing board, said: “We are pleased to welcome BrokerHub, ITG RFQ-hub and Vectalis as the first [TCPs] 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.”
Managing director of BrokerHub, Pierre De Vos, said: “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.”
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