The agreement will give institutions on TT’s broad global distribution network the opportunity to streamline their RFQ and larger scale, complex trade execution activity on a single screen.

Up until now, most activity on Eurex EnLight has taken place through the Eurex front-end platform. EnLight on TT will further reduce the time-to-market of price discovery from multiple participants, leveraging the large TT distribution network. With the TT solution, buy-side institutions, banks and others with larger scale execution requirements not suited for the central limit order book will be able to extend and accept quotes from specific market participants with which they have relationships, including market makers and inter-dealer brokers, directly from their trading screens.

Steve Stewart, TT EVP Sales - EMEA & Europe Region Manager, said: "We’re pleased to partner with Eurex on this ambitious project that gives our clients convenient new ways of managing their large-scale orders and participating in the exchange’s diverse product offering from within the TT platform. The largest financial institutions in the world rely on us for their mission-critical trading systems and infrastructure needs, and we are constantly exploring new avenues for helping them easily access new trading opportunities and achieve new efficiencies."

Thomas Martin, Eurex EnLight Product Manager, said: "This new partnership breaks down entry barriers and provides easy access to all the operational advantages of Eurex EnLight. With direct access to Eurex’s vast membership base of liquidity providers, we expect this partnership will lead to increased market liquidity and volume growth. We’re excited with what this new offering will bring to the market."

Eurex EnLight on TT will be available for all equity, equity index and fixed income options and corresponding futures traded on Eurex as well as for all foreign exchange (FX) derivatives. The integrated solution will be available on the TT platform by the end of 2023.

The fully automated EnLight solution replicates the core aspects of voice and chat trading to bring together buying and selling interest from market participants engaged in off-book trading. It provides users the advantages of straight-through processing and compliance controls, including automatic electronic price formation, data collection, audit trail functionality and timely information retrieval to meet Europe’s MiFID II and MiFIR best execution requirements.