T7 Enhanced Order Book Interface (EOBI)
Quick definition
The T7 Enhanced Order Book Interface (EOBI) is a market data feed that provides real-time access to the entire order book. It is offered by Deutsche Börse on venues based on its T7 exchange trading platform, such as Xetra, Eurex, EEX, and the Nodal Exchange.
What is T7 Enhanced Order Book Interface (EOBI)?
It is unambiguous to drop "T7" from the term, since EOBI is generally associated with the T7 platform. When referring to the EOBI feed of a specific venue, the venue name is usually prepended. For example, Deutsche Börse's materials mention Eurex T7 EOBI and Eurex EOBI interchangeably.
EOBI is a market by order (MBO) data feed, meaning that it provides order-by-order updates of the full order book. In comparison, the T7 EMDI feed is a market by price (MBP) feed that only shows aggregated depth at limited levels of the order book.
References
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T7 Release 12.1 Enhanced Order Book Interface. Deutsche Börse Group.
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