{"id":7538,"date":"2025-08-28T22:34:36","date_gmt":"2025-08-29T03:34:36","guid":{"rendered":"https:\/\/librarytestdev.wpenginepowered.com\/?post_type=doc&#038;p=7538"},"modified":"2025-08-28T22:34:36","modified_gmt":"2025-08-29T03:34:36","slug":"eurex-enlight","status":"publish","type":"doc","link":"https:\/\/library-staging.tradingtechnologies.com\/setup\/exchanges-emea\/eurex\/description-eurex\/eurex-enlight\/","title":{"rendered":"Eurex Enlight"},"content":{"rendered":"\n<!-- pages using refernce-tab-list layout will not trigger this condition. The Heading will be set in that layout file-->\n\n  \n    \n\n\n <!-- pages using refernce-tab-list layout will not trigger this condition. The Heading will be set in that layout file-->\n\n  \n    \n\n\n <!-- pages using refernce-tab-list layout will not trigger this condition. The Heading will be set in that layout file-->\n\n  \n    \n\n\n <!-- pages using refernce-tab-list layout will not trigger this condition. The Heading will be set in that layout file-->\n\n  \n     <!-- in source YML header, should also match the filename\/url -->\n       \n        \n\n        \n      \n          \n      \n\n\n\n\n\n\n\n \n\n<div>\n\n\t<h2>Enlight Overview<\/h2>\n\n\t<p>\n\t\tEurex EnLight is a fully-integrated RFQ platform, which is fully-automated and replicates the core aspects of\n\t\tvoice\n\t\ttrading while providing its users all the advantages of automatic electronic price formation, data collection\n\t\tand\n\t\ttimely information retrieval to meet MiFID II Best Execution requirements.\n\t<\/p>\n\n\t<h2>Submitting an Enlight RFQ<\/h2>\n\n\t<p>\n\t\tOn TT, customers can utilize Enlight functionality on Eurex using the <a href=\"\/trade\/rfqc-submitting-requests.html\">RFQ with\n\t\t\tCounterparties widget<\/a> in TTW, as\n\t\twell\n\t\tas via <a href=\"\/tt-fix\/market-data\/Msg_QuoteRequest_R.html\">FIX order\n\t\t\tentry<\/a>.\n\t<\/p>\n\n\n\t<h2>Viewing Active RFQs on TT<\/h2>\n\n\t<p>\n\t\tViewing the RFQ responses from the Enlight Respondant is a critical piece of the Enlight workflow. The following\n\t\tfunctionality in the <a href=\"\/trade\/rfq-viewer-display.html#eurex-enlight-rfqs\">RFQ Viewer\n\t\t\twidget<\/a> supports this workflow:\n\t<\/p>\n\n\n\t<ul>\n\t\t<li>\n\t\t\tThe \u201cCounterparty\u201d column is off by default. When shown, this column displays the counterparty information\n\t\t\tof the\n\t\t\tRFQ responses\n\t\t<\/li>\n\t\t<li>A parent RFQ row organizes the various responses to the RFQ within a group that can be expanded and\n\t\t\tcollapsed<\/li>\n\t\t<li>You can select one of the responses to your RFQ, and submit the response to Eurex:<\/li>\n\t\t<ul>\n\t\t\t<li>\n\t\t\t\tLeft-click on the price of a response in the RFQ viewer to launch the Order Ticket seeded with that\n\t\t\t\tprice and\n\t\t\t\tquantity and with a single Buy\/Sell button visible.\n\t\t\t<\/li>\n\t\t<\/ul>\n\t<\/ul>\n\n\t<h2>Assigning Counterparties<\/h2>\n\n\t<ol>\n\t\t<li><a href=\"\/user-setup\/ac-managing-counterparties.html#assigning-an-account-to-a-counterparty\">Counterparties<\/a>\n\t\t\tare read from a public file provided by Eurex once a week.<\/li>\n\n\n\t\t<li>When counterparties are uploaded they will appear in each company&#8217;s Counterparties list\n\t\t\t(More-&gt;Counterparties).<\/li>\n\n\n\t\t<li>\n\t\t\tInitially, the counterparties will not be available to any accounts and must be assigned to accounts by each\n\t\t\tcompany.\n\t\t<\/li>\n\n\n\t\t<li>\n\t\t\tCompany admins can either assign a counterparty to a list of accounts or assign a list of accounts to a\n\t\t\tcounterparty.\n\t\t<\/li>\n\n\t<\/ol>\n\n\t<h2>Removing Counterparties<\/h2>\n\n\t<p>\n\t\tIf a counterparty is removed from the exchange-provided counterparty list, that counterparty will be deleted\n\t\tfrom\n\t\tall companies in User Setup. If the counterparty is added back at a later date then the company administrator\n\t\twill\n\t\tneed to reassign the account to the counterparty.\n\t<\/p>\n\n\t<h2>Assigning Different Counterparties to Different Client Accounts<\/h2>\n\n\t<p>\n\t\tDifferent counterparties can be assigned to different accounts. Each account is explicitly assigned the\n\t\tcounterparties it is allowed to view in the Trade TT application.\n\t<\/p>\n\n\t<h2>Controlling RFQ Access with User Entitlements<\/h2>\n\n\t<p>Users must have the following entitlements in User Setup to submit Enlight RFQs:<\/p>\n\n\t<ul>\n\t\t<li><a href=\"\/user-setup\/us-configuring-user-exchange-access.html\">Eurex\n\t\t\t\tmarket data<\/a><\/li>\n\t\t<li>An account with a <a href=\"\/user-setup\/eur-adding-a-eurex-connection.html\">Eurex order\n\t\t\t\trouting connection<\/a><\/li>\n\t\t<li><a href=\"\/user-setup\/us-adding-a-new-user.html\">Request for Quote\n\t\t\t\t(RFQ) enabled<\/a><\/li>\n\t\t<li>An OTC Trading User ID set in order tag defaults or <a href=\"\/user-setup\/us-configuring-user-exchange-access.html\">User\n\t\t\t\tSetup<\/a><\/li>\n\t\t<li><a href=\"\/user-setup\/ac-managing-counterparties.html\">Counterparties<\/a>\n\t\t\tassigned to the Eurex trading account<\/li>\n\t<\/ul>\n\n\t<h2>Required Workspace Settings<\/h2>\n\n\t<p>The correct account must be <a href=\"\/trade\/prf-accounts-preferences.html#rfq\">assigned to the RFQ\n\t\t\toption<\/a> in global Preferences.<\/p>\n\n\t<h2>Risk Settings for Enlight RFQs<\/h2>\n\n\t<p>\n\t\t<a href=\"\/user-setup\/rl-setting-user-risk-limits.html\">Risk settings<\/a>\n\t\tapply if configured, but not on RFQ submission. Risk only applies to the order submitted as part\n\t\tof\n\t\tthe RFQ response.\n\t<\/p>\n\n\t<p>The following risk settings apply for Enlight RFQ orders.<\/p>\n\n\t<ul>\n\t\t<li>Trading Allowed<\/li>\n\t\t<li>Cancel allowed<\/li>\n\t\t<li>Max order quantity<\/li>\n\t<\/ul>\n\n\t<p>\n\t\tThese values can be set for Wholesale Outrights and Wholesale Spread\/Strategies on the limits for a product or\n\t\tinstrument. Price reasonability does not apply to RFQ orders.\n\t<\/p>\n\n\t<h2>Workflow for RFQs Including Risk<\/h2>\n\n\t<ol>\n\t\t<li>\n\t\t\tIf you have been entitled for RFQs, have counterparties correctly assigned, and have your workspace\n\t\t\tconfigured\n\t\t\tproperly, you can submit an RFQ from the <a href=\"\/trade\/rfqc-overview.html\">RFQs with Counterparties\n\t\t\t\twidget<\/a>.\n\t\t<\/li>\n\n\t\t<li>\n\t\t\tOnce submitted, the RFQ can be viewed in the <a href=\"\/trade\/rfq-viewer-display.html#eurex-enlight-rfqs\">RFQ\n\t\t\t\tViewer widget<\/a>. You\n\t\t\tmust add a tab to the RFQ viewer for the\n\t\t\tappropriate product.\n\t\t<\/li>\n\n\t\t<li>\n\t\t\tRFQs can get rejected by the exchange if they don\u2019t meet requirements, or TT can reject the RFQ if the RFQ\n\t\t\taccount\n\t\t\thas no exchange connectivity.\n\t\t<\/li>\n\n\t\t<li>\n\t\t\tIf the RFQ is not rejected, when the Sell-side accepts the RFQ, the RFQ Viewer widget receives a\n\t\t\tSRFQMktQuote\n\t\t\tmessage.\n\t\t<\/li>\n\n\t\t<li>You can then click the bid or the ask on that message to open an order ticket and submit the order.<\/li>\n\n\t\t<li>\n\t\t\tThe order is then risk-checked per the account limits settings applied to the order routing account selected\n\t\t\tin the\n\t\t\tprevious step. Orders that do not meet the risk requirements will be rejected by TT\u2019s pre-trade risk.\n\t\t<\/li>\n\n\t<\/ol>\n\n\n\n\n\n\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p><!-- pages using refernce-tab-list layout will not trigger this condition. The Heading will be set in that layout file--><\/p>\n<p> <!-- pages using refernce-tab-list layout will not trigger this condition. The Heading will be set in that layout file--><\/p>\n<p> <!-- pages using refernce-tab-list layout will not trigger this condition. The Heading will be set in that layout file--><\/p>\n<p> <!-- pages using refernce-tab-list layout will not trigger this condition. The Heading will be set in that layout file--><\/p>\n<p>     <!-- in source YML header, should also match the filename\/url --><\/p>\n<div>\n<h2>Enlight Overview<\/h2>\n<p>\n\t\tEurex EnLight is a fully-integrated RFQ platform, which is fully-automated and replicates the core aspects of<br \/>\n\t\tvoice<br \/>\n\t\ttrading while providing its users all the advantages of automatic electronic price formation, data collection<br \/>\n\t\tand<br \/>\n\t\ttimely information retrieval to meet MiFID II Best Execution requirements.\n\t<\/p>\n<h2>Submitting an Enlight RFQ<\/h2>\n<p>\n\t\tOn TT, customers can utilize Enlight functionality on Eurex using the <a href=\"\/trade\/rfqc-submitting-requests.html\">RFQ with<br \/>\n\t\t\tCounterparties widget<\/a> in TTW, as<br \/>\n\t\twell<br \/>\n\t\tas via <a href=\"\/tt-fix\/market-data\/Msg_QuoteRequest_R.html\">FIX order<br \/>\n\t\t\tentry<\/a>.\n\t<\/p>\n<h2>Viewing Active RFQs on TT<\/h2>\n<p>\n\t\tViewing the RFQ responses from the Enlight Respondant is a critical piece of the Enlight workflow. The following<br \/>\n\t\tfunctionality in the <a href=\"\/trade\/rfq-viewer-display.html#eurex-enlight-rfqs\">RFQ Viewer<br \/>\n\t\t\twidget<\/a> supports this workflow:\n\t<\/p>\n<ul>\n<li>\n\t\t\tThe \u201cCounterparty\u201d column is off by default. When shown, this column displays the counterparty information<br \/>\n\t\t\tof the<br \/>\n\t\t\tRFQ responses\n\t\t<\/li>\n<li>A parent RFQ row organizes the various responses to the RFQ within a group that can be expanded and<br \/>\n\t\t\tcollapsed<\/li>\n<li>You can select one of the responses to your RFQ, and submit the response to Eurex:<\/li>\n<ul>\n<li>\n\t\t\t\tLeft-click on the price of a response in the RFQ viewer to launch the Order Ticket seeded with that<br \/>\n\t\t\t\tprice and<br \/>\n\t\t\t\tquantity and with a single Buy\/Sell button visible.\n\t\t\t<\/li>\n<\/ul>\n<\/ul>\n<h2>Assigning Counterparties<\/h2>\n<ol>\n<li><a href=\"\/user-setup\/ac-managing-counterparties.html#assigning-an-account-to-a-counterparty\">Counterparties<\/a><br \/>\n\t\t\tare read from a public file provided by Eurex once a week.<\/li>\n<li>When counterparties are uploaded they will appear in each company&#8217;s Counterparties list<br \/>\n\t\t\t(More-&gt;Counterparties).<\/li>\n<li>\n\t\t\tInitially, the counterparties will not be available to any accounts and must be assigned to accounts by each<br \/>\n\t\t\tcompany.\n\t\t<\/li>\n<li>\n\t\t\tCompany admins can either assign a counterparty to a list of accounts or assign a list of accounts to a<br \/>\n\t\t\tcounterparty.\n\t\t<\/li>\n<\/ol>\n<h2>Removing Counterparties<\/h2>\n<p>\n\t\tIf a counterparty is removed from the exchange-provided counterparty list, that counterparty will be deleted<br \/>\n\t\tfrom<br \/>\n\t\tall companies in User Setup. If the counterparty is added back at a later date then the company administrator<br \/>\n\t\twill<br \/>\n\t\tneed to reassign the account to the counterparty.\n\t<\/p>\n<h2>Assigning Different Counterparties to Different Client Accounts<\/h2>\n<p>\n\t\tDifferent counterparties can be assigned to different accounts. Each account is explicitly assigned the<br \/>\n\t\tcounterparties it is allowed to view in the Trade TT application.\n\t<\/p>\n<h2>Controlling RFQ Access with User Entitlements<\/h2>\n<p>Users must have the following entitlements in User Setup to submit Enlight RFQs:<\/p>\n<ul>\n<li><a href=\"\/user-setup\/us-configuring-user-exchange-access.html\">Eurex<br \/>\n\t\t\t\tmarket data<\/a><\/li>\n<li>An account with a <a href=\"\/user-setup\/eur-adding-a-eurex-connection.html\">Eurex order<br \/>\n\t\t\t\trouting connection<\/a><\/li>\n<li><a href=\"\/user-setup\/us-adding-a-new-user.html\">Request for Quote<br \/>\n\t\t\t\t(RFQ) enabled<\/a><\/li>\n<li>An OTC Trading User ID set in order tag defaults or <a href=\"\/user-setup\/us-configuring-user-exchange-access.html\">User<br \/>\n\t\t\t\tSetup<\/a><\/li>\n<li><a href=\"\/user-setup\/ac-managing-counterparties.html\">Counterparties<\/a><br \/>\n\t\t\tassigned to the Eurex trading account<\/li>\n<\/ul>\n<h2>Required Workspace Settings<\/h2>\n<p>The correct account must be <a href=\"\/trade\/prf-accounts-preferences.html#rfq\">assigned to the RFQ<br \/>\n\t\t\toption<\/a> in global Preferences.<\/p>\n<h2>Risk Settings for Enlight RFQs<\/h2>\n<p>\n\t\t<a href=\"\/user-setup\/rl-setting-user-risk-limits.html\">Risk settings<\/a><br \/>\n\t\tapply if configured, but not on RFQ submission. Risk only applies to the order submitted as part<br \/>\n\t\tof<br \/>\n\t\tthe RFQ response.\n\t<\/p>\n<p>The following risk settings apply for Enlight RFQ orders.<\/p>\n<ul>\n<li>Trading Allowed<\/li>\n<li>Cancel allowed<\/li>\n<li>Max order quantity<\/li>\n<\/ul>\n<p>\n\t\tThese values can be set for Wholesale Outrights and Wholesale Spread\/Strategies on the limits for a product or<br \/>\n\t\tinstrument. Price reasonability does not apply to RFQ orders.\n\t<\/p>\n<h2>Workflow for RFQs Including Risk<\/h2>\n<ol>\n<li>\n\t\t\tIf you have been entitled for RFQs, have counterparties correctly assigned, and have your workspace<br \/>\n\t\t\tconfigured<br \/>\n\t\t\tproperly, you can submit an RFQ from the <a href=\"\/trade\/rfqc-overview.html\">RFQs with Counterparties<br \/>\n\t\t\t\twidget<\/a>.\n\t\t<\/li>\n<li>\n\t\t\tOnce submitted, the RFQ can be viewed in the <a href=\"\/trade\/rfq-viewer-display.html#eurex-enlight-rfqs\">RFQ<br \/>\n\t\t\t\tViewer widget<\/a>. You<br \/>\n\t\t\tmust add a tab to the RFQ viewer for the<br \/>\n\t\t\tappropriate product.\n\t\t<\/li>\n<li>\n\t\t\tRFQs can get rejected by the exchange if they don\u2019t meet requirements, or TT can reject the RFQ if the RFQ<br \/>\n\t\t\taccount<br \/>\n\t\t\thas no exchange connectivity.\n\t\t<\/li>\n<li>\n\t\t\tIf the RFQ is not rejected, when the Sell-side accepts the RFQ, the RFQ Viewer widget receives a<br \/>\n\t\t\tSRFQMktQuote<br \/>\n\t\t\tmessage.\n\t\t<\/li>\n<li>You can then click the bid or the ask on that message to open an order ticket and submit the order.<\/li>\n<li>\n\t\t\tThe order is then risk-checked per the account limits settings applied to the order routing account selected<br \/>\n\t\t\tin the<br \/>\n\t\t\tprevious step. Orders that do not meet the risk requirements will be rejected by TT\u2019s pre-trade risk.\n\t\t<\/li>\n<\/ol>\n<\/div>\n","protected":false},"author":2,"template":"","meta":{"_acf_changed":false,"footnotes":""},"docs-category":[639],"class_list":["post-7538","doc","type-doc","status-publish","hentry","docs-category-description-eurex"],"acf":[],"_links":{"self":[{"href":"https:\/\/library-staging.tradingtechnologies.com\/ja\/wp-json\/wp\/v2\/doc\/7538","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/library-staging.tradingtechnologies.com\/ja\/wp-json\/wp\/v2\/doc"}],"about":[{"href":"https:\/\/library-staging.tradingtechnologies.com\/ja\/wp-json\/wp\/v2\/types\/doc"}],"author":[{"embeddable":true,"href":"https:\/\/library-staging.tradingtechnologies.com\/ja\/wp-json\/wp\/v2\/users\/2"}],"version-history":[{"count":0,"href":"https:\/\/library-staging.tradingtechnologies.com\/ja\/wp-json\/wp\/v2\/doc\/7538\/revisions"}],"wp:attachment":[{"href":"https:\/\/library-staging.tradingtechnologies.com\/ja\/wp-json\/wp\/v2\/media?parent=7538"}],"wp:term":[{"taxonomy":"docs-category","embeddable":true,"href":"https:\/\/library-staging.tradingtechnologies.com\/ja\/wp-json\/wp\/v2\/docs-category?post=7538"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}