OFF- And on-EXCHANGE TRADING
360T is your single gateway to access OTC and Listed FX.
OTC or Listed FX – it’s your choice. Whether you are already using exchange-traded FX or you are just starting to consider it, 360T offers you the tools to access the full range of Eurex FX Futures directly from your 360T trading environment. Futures can represent a cost-efficient alternative to FX OTC trades: under Basel III OTC trades have higher risk weighting and CVW, RWA charges. The 360T platform gives you the ability to decide when to use Listed FX Futures.
When accessing the Eurex order book directly from 360T, you have the option of using the Classic FX Futures with monthly and quarterly deliveries, or using the innovative Rolling Spot Futures contract. For those times you want to use Futures, but you still want to bilaterally face a panel of Liquidity Providers in a disclosed model, you can use your 360T request for quote and streaming mechanisms for this.
Why should you care about FX Futures?
The use of Futures products gives you the benefits of CCP clearing – including multilateral netting and margin efficiencies.
The Eurex FX Futures are exchange-listed and CCPcleared contracts, with initial contracts in EUR, USD, GBP, JPY, CHF, AUD, NZD pairs. You can expect to see tight pricing whenever you need it through the week, trading from Sunday to Friday (NY close), with just a small offline window each day to move to next trading date. With standardized contract sizes of 100,000 of the base currency, and currency pairs quoted the right way round to match the familiar OTC market, these contracts are easy to understand and to use.
Classic FX Futures
The Classic FX Futures contracts are traditionally styled FX Futures contracts that are deliverable via CLS, with maturities up to 3 years, with front 3 months, then quarterly expiries following the Mar/Jun/Sep/Dec cycle.
For When You Need to Trade Off-exchange
You can trade Eurex FX Futures bilaterally off-order book against individual providers, using Blocks or EFP transactions that are given up to the exchange after execution, to clear and net with your on-exchange positions.
Trade OTC and LISTED FX Side by Side
Use a window in your 360T SuperSonic view to enter orders into the Eurex FX Futures order book, with Futures fill notitications and activity in your 360T deal blotter. 360T are introducing more functionality to allow you to bridge between the OTC and Listed markets, in order to ensure you have all the tools you need, to get each trade you need, done.
Rolling Spot Futures
The Rolling Spot Futures offer product simplicity and cost effectiveness. With no physical delivery of notional you face no CLS costs, and your position is rolled each day until you close the position. And with rolls performed at MID, just think of the saving you can achieve with this.
Access to FX Futures requires use of an authorised clearing member who handles the operational aspects of this exchange and clearing flow. If you do not want to become a member in order to self-clear, you can use the services of another authorised clearing member for this.
Key Points at a Glance
- 360T lets you access the OTC and Listed FX markets, side by side.
- Eurex FX Futures are available in 360T round the clock from Sunday through to Friday NY close.
- Interacting with Eurex Futures order book via 360T means your orders route directly into the market to face all other market participants. This breadth of access does not require you to form and maintain individual ISDA or trading agreements with each participant.
- Trading Futures in the order book via 360T means you trade anonymously – in a fully undisclosed model end-to-end through pre-trade, execution, and posttrade.
- You will need to have a clearing relationship with a Eurex clearing member in order to use this functionality in 360T. If you do not already have a clearing relationship, please ask us to introduce you.
- As part of the Deutsche Börse Group, the Eurex Exchange is your European exchange with global reach.