T7

The T7 trading platform is used for derivatives and cash trading on Eurex, the European Energy Exchange (EEX), Xetra, and the Nodal Exchange. A notable feature of T7 is its significant emphasis on low latency, accurate timestamping, and the extensive public documentation available regarding the internal workings of the T7 matching engine.

The T7 platform generally exposes several data feeds, with the following use cases.

• EOBI (Enhanced Order Book Interface): Full market by order (MBO) feed for latency-sensitive users.
• EMDI (Enhanced Market Data Interface): Market by price (MBP) feed with aggregated depth at limited price levels, providing lower granularity than EOBI. Updates on EMDI are un-netted, meaning that they are provided for every order book change that affects the price levels in scope.
• MDI (Market Data Interface): Aggregated MBP feed that is conflated (netted) and published at regular intervals, providing lower granularity than EMDI.
• RDI (Reference Data Interface): Static and reference data feed, providing non-price data such as instrument definitions.
• EMDS (Extended Market Data Service): UDP-based multicast feed which provides T7 market data following FIX 5.0 SP2 semantics with FAST 1.1/1.2 encoding.
• ETI (Eurex T7 Interface): Primary order entry interface for the T7 trading platform. Provides trading functions such as order handling, quote handling, request for quotes (RFQs), strategy creation, and more.