What kind of improvements will the new system deliver?
Amongst others, the new features will include: - Streamlined processing and reporting - Significantly reduced time-to-market for introducing new products and features - A more flexible schedule for software upgrades
Will there be educational seminars/webinars/workshops offered?
Yes, we plan to offer various technical and functional training sessions and webinars/screencasts. We will provide more details on the contents, dates and locations in upcoming circulars and on our website.
What does "F7" stand for?
The "7" denotes it is part of the Deutsche Börse Group "7" platform technology suite, where “F” stands for funding and financing.
What is the purpose of the 'N7' Service Agreement when the Repo system is F7?
N7 is a Deutsche Börse Group Network Solutions product which provides customers connectivity to our platforms, such as Eurex Repo F7.
Why must the "N7 Service Order" form fields for "Internet Connection only" be filled out?
No fields on the form need to be filled out for connectivity (ie. leased line, or internet details) in the "N7 Service Order". In this case only the business parts are relevant.
Are the internet certificate fees applicable on a per user basis?
The "Certificate Access Fee" applies to customers with internet connections only or with connectivity via service providers. The monthly certificate access fees permits the use of 20 concurrent certificates (GUI, API or other). Additional capacity is available on request. For customers having leased line channels to F7 in place, additional access via internet certificate is included, i.e. a customer can use internet in addition to a leased line connection without any additional cost.
What activities are possible in simulation when not all Repo markets are available yet?
F7 Repo participants can test if connectivity and authentication against the F7 platform works with certificates created and uploaded previously.
Are focus days planned for Simulation and what has to be done in order to participate?
Focus days for several subjects are planned and will be described in the Participant Simulation Guide before the focus days are made available.
Are webinars available?
Webinars will be available on the EurexRepo.com portal similar to the F7 customer roadshow. These can be found under http://www.eurexrepo.com/repo-en/support/f7/
Which products/markets will be the first to migrate to the new architecture?
The Eurex Repo markets are migrated in phases to the new trading system starting with the COSI / SecLend Triparty Markets which was launched on December 8th, 2014. It is planned to launch the remaining markets (GC Pooling, Euro Repo and SecLend CCP) on July 13, 2015.
When will the migration process begin?
The COSI / SecLend Triparty Markets was launched on December 8th, 2014. The simulation for the remaining markets (GC Pooling, Euro Repo and SecLend CCP) started on December 12th, 2014. The production start is planned for July 13, 2015.
How long will the migration phase be?
How long will the current and new interfaces have to be supported in parallel?
Both architectures and their interfaces need to be supported in parallel as long as there are products tradable on the current trading architecture. Parallel support would be required for this time frame.
Will open trades be transferred from the current system to Eurex Repo's F7?
Will existing trader accounts be migrated from the current system to Eurex Repo's F7?
All existing user accounts will be migrated to Eurex Repo's F7 new system. As the entitlement model is different in the new system, participants are required to verify the transferred accounts and their entitlement.
Will there be a simulation environment available to test the new API, the new GUI and the new connectivity?
The simulation for the GC Pooling, Euro Repo and SecLend Market started on December 12th, 2014.
What are the next steps / first steps which need to be initiated by the customer, and by when?
It is most important that every customer makes a decision about their choice of connectivity (Internet / leased line / redundancy). For leased line connectivity the ordering process should be initiated as soon as possible by the end of June 2014 at the latest. Enough lead time should be calculated in the case a new physical connection needs to be provisioned by Deutsche Boerse AG.
Will the process of user/trader registration change (i.e. to EXAS)?
No, Eurex Repo’s F7 will keep the current form based approach for user maintenance.
When will the final schedules for individual market migrations be available?
The latest announcements regarding migration schedules can be found under http://www.eurexrepo.com/repo-en/info-center/publications/
Can the trading history in the old Repo platform be accessed after migration to F7?
The new F7 platform will not provide data concerning the Repo trading history before the migration point.
Do back office tools like CCP and Clearing change?
F7 platform migration involves the trading part of Eurex Repo only.
When will the new Repo user accounts be available?
The Eurex Repo functional team will migrate existing Repo user accounts to the new platform, and provide central coordinators with the new accounts. This is planned for one or two weeks before the relevant Repo markets starts on simulation.
Markets & Reports
Which markets will be available in Eurex Repo's F7 new platform?
All existing markets: Euro Repo Market, GC Pooling Market, SecLend Market (CCP) and COSI will be available.
What report files will be generated by the Eurex Repo’s F7? Will F7 be connected to the common report engine?
No reports for Eurex Repo trading are intended and therefore the CRE is not needed. Business reports (billing) can be accessed via the Member Section available via www.eurexrepo.com.
Can existing hardware be utilized? If not, which new hardware will be required?
Eurex Repo's F7 does not have any hard- or software requirements (except the router) for the AMQP based F7 API interface. The Trader GUI will run in a regular web browser. Please refer to the release notes for a list of compatible web browsers.
Will the communication protocol change compared to the currently used system?
The new Eurex Repo trading platform will come with a new F7 API which enables message exchange (i.e. enter quote, enter IOI, etc.) in a proprietary protocol. Message flow will be done via AMQP message brokers.
Which programming language do I need to use with the new trading architecture? Which are supported?
Eurex Repo's F7 trading architecture will provide a new F7 API which replaces the current PAPI. The new interface is message-based and relies on AMQP for message transport. Any programming language can be used.
Will each workstation of the traders have to connect directly to the Eurex Repo platform?
Yes, this is the concept of the new F7 architecture and is already in use for the trading platforms for other markets (i.e. the Eurex derivatives trading platform T7).
Currently the application is use was developed by an independent software vendor. Does software provided by independent software vendors need to be modified?
Yes, the software vendor will have to modify the software to the new F7 API. Every effort to ensure that the independent software vendors get all the information they need (interface specs, testing possibilities, etc.) as early as possible, has been made.
Will all Eurex Repo documentation be made available on the public area of the Eurex Repo website?
No, not all documentation will be provided in the public section (e.g.) Documentation regarding the F7 API will only be made available in the Member Section.
Will the current Repo trading GUI change?
The current Repo Trading GUI will be replaced with a new Eurex Repo Trading GUI. Eurex Repo's new Trading GUI is a browser based solution. No client side installation is required. Please refer to the release notes for a list of compatible web browsers.
Do you conduct vulnerability checks and ethical hacks against the public URLs?
Deutsche Börse Group takes care that all state of the art measures, mechanisms, and procedures are in place to ensure security of the web portals and platforms it operates and ensures that all applied functionality is compliant with relevant regulatory and government directives and policies.
Can all products be traded in the new Eurex Repo's F7 Trading GUI?
All Eurex Repo products will be tradable on the Eurex Repo's F7 Trading GUI.
Which operating systems will be supported for the new GUI solution?
The new GUI solution is browser based and therefore, the precondition to run the GUI is the use of one of the supported browsers and should in principle be independent from the operating system. The new GUIs will principally be tested on Microsoft Windows and Linux.
Is the Eurex Repo GUI a Java application, or completely browser based?
The Eurex Repo GUI is a pure browser based application. No software needs to be installed. Please refer to the release notes for a list of compatible web browsers.
When can traders get acquainted with the new F7 GUI?
The new GUI will be made available for customers first time with the start of simulation (COSI / SecLend Triparty Market simulation start is scheduled for September 29, 2014).
Does the F7 GUI use the standard TCP/IP port 443 for SSL connectivity?
No, the F7 GUI uses non-standard ports 8443 and 9443 for simulation and production.
Can the F7 Trading GUI be run with Microsoft Internet Explorer, or not?
The Microsoft Internet Explorer, even in the newest versions, implements HTML5 in a significantly different way compared to other browsers (i.e. Chrome, Firefox, Mozilla, Safari). At this point in time, the Microsoft Internet Explorer is not supported by Eurex Repo’s F7 Trading GUI.
Where are the GUI user profiles stored?
The F7 GUI and API are completely server based and hosted on the DBAG platform including the individual user profiles.
Is a Group Profile concept available, i.e. can individual user or master profiles be shared?
User group profiles are planned for a later F7 release.
How can the GUI deployed to the users?
The Repo F7 GUI user can be provided with the appropriate URL by means of desktop shortcuts, browser favorites or a landing page.
How will Eurex Repo provide Market and Reference data?
Market Data is provided via the Trading GUI or the F7 API. Reference Data is available within the Trading GUI or can be received via the F7 API. In addition, Market Data will be published via Market Data Providers as today.
Will Eurex Repo provide C header files in addition to the XML-based message definitions for the new F7 API?
Will there be a session concept for the F7 API (like i.e. in Eurex T7)?
As the new F7 API is based on AMQP will participants need a certificate for authentication and encryption? If so, what kind of certificate?
The F7 API relies on AMQP for message transfer. To establish a connection, participants need to provide self-signed x.509 certificates for authentication and encryption of the traffic.
Where is the F7 API manual located?
The document can be found in the Eurex Repo Member section under: https://member.eurexrepo.com -> "Repo Resources > Trading System F7 > System Documentation > Release 1.0 > Eurex Repo Trading Interfaces"
Where is the certificate for the Eurex Repo F7 AMQP broker/server?
The certificate can be found in the Eurex Repo Member section under: https://member.eurexrepo.com -> "Repo Resources > Trading System F7 > System Documentation > Release 1.0 > Eurex Repo Trading Interfaces"
Does the Master Data Broadcast start automatically when a client application connects to the F7 API or must a EmergencyMasterDataBroadcast Request be sent to start the Master Data Broadcast?
As part of the F7 end of day processing, the master data for the next business day will be prepared and published to the master data broadcast topic, and will thereafter be available for the clients to retrieve prior to starting the next business day. The emergency master data broadcast request is only to be used in exceptional situations to inquire a new master data snapshot if it is lost during the trading hours.
What happens to incoming messages if a client application crashes or becomes disconnected intra day?
As soon as a client application has picked up a message from a queue or topic, the message is no longer available for the client application. Messages that have not been consumed so far remain available in the AMQP broker; the client application can re-request the master data using the Emergency function at any time.
Will F7 provide an OTX file as the current system does?
No, the new Eurex F7 API replaces the PAPI interface and the OTX file.
Is there a description of the error codes returned in the F7 API responses?
The F7 API Interface manual (v1.2 onwards) has an appendix with error codes.
The F7 API application collects the list of own trades, similar to the OTX file but the “Own Trade Broadcast” doesn’t seem to contain all the data required.
To reconcile a list of own trades, similar to the content of the OTX file, the “Own Trade Broadcast” needs to be combined with static reference data from the “Market Reference Data” stream.
Which alternatives to the OTX file exist?
The development of an individual feed file is possible using the new F7 API, or an alternative product from an ISV can be acquired. A list of ISVs working on F7 platform services can be found on http://www.eurexrepo.com/repo-en/support/f7/vendors/
Are there new ports and/or destination IP’s foreseen?
Eurex Repo's new trading system F7 will offer a new connectivity concept. Connectivity will differ from the current system connectivity. Access will be possible via API or via Eurex Repo provided GUI. API and GUI can be run via leased line or via Internet. Please refer to the “Eurex Repo’s F7 Connectivity Guide” document for IP addresses, URLs, and details about x.509 certificate creation.
Will Eurex Repo's F7 offer the same lines/connectivity options? If so, can existing lines be reused or must new ones be ordered?
Eurex Repo's F7 offers a new set of connectivity options. Both F7 API and GUI connections will be possible via leased line and via Internet. Leased line connections will be provided by Eurex Repo and have to be ordered in advance from Eurex Repo. Both F7 API and GUI will make use of SSL encryption for data transfer on leased line and on Internet connections. The bandwidth requirements for Eurex Repo's F7 system differ from the requirements of the current system… Please refer to the document “Eurex Repo’s F7 Connectivity Guide” for IP addresses, URLs, and details about x.509 certificate creation.
Will the pricing scheme change and if so, how?
Yes, due to the fact that a modification of the current connectivity is required, the connectivity pricing will also change. Eurex Repo provided the pricing scheme for the new connectivity options in May 2014.
Is the Eurex Repo certificate handling similar to EurexOTC?
Yes. Eurex Repo’s F7 uses self-created and self-signed x.509 certificates for authentication and encryption. Please refer to the document “Eurex Repo’s F7 Connectivity Guide” for details about x.509 certificate creation.
Who creates the Repo access certificates?
Customers must create their certificates themselves. Please refer to the document “Eurex Repo’s F7 Connectivity Guide” details about x.509 certificate creation.
Can an existing MIC Channel be used for Eurex Repo?
No, Eurex Repo is a new, dedicated channel for both, trading GUI and F7 API. The new Repo channel can coexist alongside a MIC on the same physical line.
Can bandwidth options larger than 10Mb/s be ordered?
Yes, on request. (depending on location)
Can bandwidth be ordered into existing co-location installations?
Yes, for colocation customers, leased line pricing of Tier A (Frankfurt) is applicable.
By when will the member section of Eurex Repo be ready to order connectivity?
The member section on www.eurexrepo.com went live on Mai 26th 2014.
Is a combination of Leased line and Internet connection possible?
A managed "fail-over" service between leased lines and internet is not supported. However, customers can deploy an internet connection beside their active Repo F7 leased lines connectivity as part of a BC/DR solution. In this case, the clients (GUI/API) need to be provided with a separate URL for BC/DR cases since the URLs and IPs are different for Leased line, and internet.
What are the bandwidth requirements for using a third party multiplexer software for a group of users?
Since this is specific to the individual 3rd party software solution, the software vendor must be contacted directly.
When choosing leased line connectivity for Repo F7, does this imply a new Member LAN address for customers?
Yes, a separate dedicated MemberLAN for Eurex Repo F7 services will be assigned (provided enough bandwidth is available).
Can separate channels for GUI and API be ordered explicitly?
No, this is not possible by design since Repo F7 platform serves both, GUI and API via the same channel. However, a separate leased line for Eurex Repo API can be ordered.
Which network protocols are used?
For GUI and API encrypted SSL over TCP/IP is in place.
Is the F7 back end architecture fault tolerant?
The F7 setup is redundant, i.e. the platform is hosted in two separate DBAG data centers, with redundant network topology.
Must separate certificates for GUI and API be created?
Yes, the F7 System requires separate certificates for GUI and API by design. Please consider our CN /User name conventions for this, i.e. [MEMBERID]+[GUI|API]+[..freetext...] as explained in the "Eurex Repo F7 Connectivity Guide"
Must certificates for each individual user be created?
Either one certificate for an entire organization (=participant certificate), or an individual certificate for each users can be created.
Do certificates for Simulation and Production need to be created separately?
Two separate "technical user accounts" for the Simulation and Production environment need to be setup to upload corresponding certificates in the Member Section.
Are client certificates from trusted CA (like Verisign) supported? Does F7 conduct a root check for client certificates?
The F7 platform supports self-signed x.509 certificates by design only. According to this, the security check is fulfilled when the client owns the certificate to the corresponding public key uploaded into our platform.
Which tool is required to create GUI certificates?
Either openSSL or the Java key tool. Please refer to the document “Eurex Repo’s F7 Connectivity Guide” for details about x.509 certificate creation.
Which kind of server certificates are in place (CA and type)?
The F7 API servers have COMODO certificates in place and these are server specific certificates.