tick-TS makes customers fit for new ETD Concept of EUREX
As one of the first providers, the Düsseldorf-based technology company tick Trading Software enables users of its trading platform to support EUREX Next Generation ETD Contracts, a business initiative of Deutsche Börse.
Düsseldorf, February 08, 2023 - tick Trading Software AG is once again living up to its reputation as one of the leading providers of innovative trading systems, as it is proving with the current EUREX release "Next Generation ETD Contracts": As one of the first companies entrusted with the project, tick-TS enables its customers to support the new Contract Identification Concept of EUREX.
"We are proud to have already fulfilled this so demanding task now, far ahead of the planned launch date at the end of March, and in this way to be able to make our customers fit for this revolution in Eurex derivatives trading at this early stage," explains Carsten Schölzki, CEO of tick Trading Software AG.
With the release "Next Generation ETD Contracts" (ETD stands for Exchange Traded Derivatives), EUREX introduces a new Contract Identification Concept which allows to define more than one expiration per month on product level (sub-monthly contracts). Thus, all EURO-STOXX-50 options (OESX, OES1, OES2, OES4 and OMSX) can be combined into a single product OESX.
Furthermore, the basis for "Daily Expiring" MSCI Futures as well as physically fulfilled Single Stock Futures was created, which allow the introduction of new strategies and calendar spreads.
Zulfukar Olgar, project manager at tick Trading Software AG adds: "One of the biggest challenges of the extensive project was that the new release for the most part involved significant changes in all logics relevant to trading and settlement for the trading system we operate".
For example, the introduction of sub-monthly expiring contracts at the product level impacted the trading, clearing, reconciliation and risk management levels of the TBMX system provided by tick-TS. This required a new concept for the representation and identification of EUREX contracts in all interfaces.
About tick Trading Software AG
With the TradeBase Multi Exchange Platform (TBMX), tick-TS AG has successfully provided its professional customers with one of the world's most advanced and reliable trading platforms for more than 20 years. The product portfolio includes direct connections to national and international marketplaces and brokers, market making tools for designated sponsoring, its own hosting and housing infrastructure, and the e-Trading Compliance Monitor (ECM) for compliance with ESMA regulations.
tick-TS AG has been listed on the primary market (open market) of the Düsseldorf Stock Exchange since 2017 (ISIN: DE000A0LA304, abbreviation: TBX) and is available on many other trading venues. A special feature is the payment of the entire distributable net profit as a dividend to investors, as stipulated in the company's Articles of Association.
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