Eurex requires upgrading existing lines for all T7 interface connections in order to accommodate the extra trading capacity anticipated during and after the migration period. The Eurex Gateway provides connectivity to the separate interfaces through one Multi-Interface Channel (MIC) connection provided by the exchange.
T7 Bandwidth Considerations
For Eurex, line sizes are directly proportional to the variety of exchange products you can trade. Ensure that the line size matches the amount of potential traffic and bandwidth utilization for your trading environment.
Eurex provides connectivity to all T7 interfaces through one physical line as a Multi-Interface Channel (MIC) connectivity option. Physical lines of 100 Mbit/s to 1 Gbit/s, or 10-100 Mbit/s are available based on the bandwidth requirements of your trading environment. Refer to Eurex https://www.eurexchange.com/blob/exchange-en/4060-4070/120042/3/data/cf0892012e.pdf.pdfcircular 089/12 for more details.
The gateway supports the EMDI, ETI, and RDI interfaces. The following are considerations for trading environments with Eurex Gateway 7.16.9 or higher:
- 70-750 Mbit/s for EMDI and RDI
- 10 Mbit/s for ETI and the FIXML Clearing Interface
Enhanced Market Data Interface (EMDI)
Eurex Gateways connect to the exchange’s Enhanced Market Data Interface (EMDI) live-streaming price feed. This approach allows for increased performance in receiving and using price data.
Because the T7 infrastructure brings increased system performance and improvements in system throughput, Eurex anticipates a larger amount of price updates delivered through the market data interfaces. The exchange offers MIC connectiivty to support the anticipated increase in throughout and requires a network upgrade to higher line bandwidth.
Enhanced Trading Interface (ETI)
For order management, Eurex Gateway 7.16.9 and higher connects to the exchange via the Eurex Enhanced Trading Interface (ETI), which is a session-oriented order management interface. Members (participants) receive information on orders, quotes, and executions entered in their own session.
Eurex ETI supports full trading functionality, including Market Making (quoting). For connectivity requirements, refer to T7 Bandwidth Considerations.
Though it is not required, TT strongly recommends dual line connectivity for its Eurex Gateway. The exchange also highly recommends redundant lines for their solutions to make it more likely that traders will have uninterrupted service.
The following table compares dual lines to a single line deployment for market data and order interface connectivity.
|Functionality||Dual Lines||Single Line|
|Price Updates||All Eurex products are split between two matching engine locations. By using both exchange feeds (Feed A and Feed B), you can ensure that the Price Server receives market data in the shortest possible time.||When only a single line is used, market data is delayed for products that are in a different location other than the one connected to the Eurex Gateway.|
|Order Routing||When enabled, the Order Server/Router routes orders to the closest matching engine location, decreasing the round trip time to the exchange. The services can be configured with the optimal gateway location (line A or line B) for orders on preferred products, and route the order through the optimal line.||The Order/Router can still be configured to determine the optimal route for a specified product, but will due so via a single line connection. This means orders to the optimal gateway will be delayed if it is not connected directly to the Eurex Gateway.|
|Message Recovery||The Price Server is designed to operate in an Active-Active connection to both of the exchange feeds, and enters recovery mode if it detects a sequence gap in either price feed. However, in a dual line deployment, the Price Server is less likely to miss a packet and cause an interruption in price display to the clients.||In a single line deployment, the Price Server will
enter recovery mode if it detects a sequence gap in the price feed.|
If the Price Server misses a packet, it clears all market data for the impacted product and repopulates it as updates become available.
Note: During recovery, Autospreader® pulls working orders from the market. These orders need to be re-entered after prices are recovered.