Bloomberg Tradebook is collaborating with Eurex to enable the direct access of Eurex member bank and market makers, within the existing CCP environment, via the Bloomberg Tradebook front-end.
André Eue, Brian Coffaro
Existing clearing broker relationships can be used by firms, removing the need for tri-party give-up agreements with Eurex market makers.
The new development will be available for all equity options and futures traded on Eurex, alongside all foreign exchange (FX) derivatives.
The European off-book business will be further electronified by the move, allowing firms to directly control and manage their own flow.
This flow can be responded to directly by Eurex market makers without any additional costs, offering tighter spreads and increased participation.
“Direct access to Enlight through Bloomberg Tradebook represents a major step forward in providing market participants with greater efficiency, cost savings, and control in off-book trading,” said André Eue, head of market development and pricing at Eurex.
“We’re pleased to be working with Bloomberg and look forward to continuing to provide clients with tools that enable them to efficiently and effectively identify new trading opportunities.”
Eurex and Bloomberg Tradebook participants will benefit from an integration with existing workflows and clearing setups, which aims to simplify use, while customisable RFQs offer control over trade visibility and anonymity.
The connectivity will offer market participants access to off-book trading, allowing for the completion of large orders, alongside minimising information leakage.
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“The connectivity between Eurex and the Bloomberg Tradebook front end enables us to deliver a more streamlined trading workflow to our mutual clients,” said Brian Coffaro, global head of futures and options trading at Bloomberg.
“As market participants explore different ways to trade, Bloomberg is focused on providing them with access to robust trading tools alongside our leading data and analytics to help them efficiently find the other side of their trades at the best available price.”