• [雷人]蠢货!土地处于不同的城市和地段,关联的资源不一样,价值也不一样。不然给咱俩同样面积的土地,咱的在北上广深,你的在边远山区,你干么? 2019-08-18
  • 世界杯八大热门悉数亮相 西班牙巴西最有冠军相 2019-08-18
  • [微笑]不是由咱定,而是要逻辑通透符合规律! 2019-08-16
  • 高速不免费难挡出游热情 端午假期周边游、滨海游最火--旅游频道 2019-08-12
  • 个子矮脸大腿粗还有拜拜肉,这些烦恼时尚博主Hannah Morgan全都有!看她怎么靠穿搭来掩盖 2019-08-08
  • 滥用添加剂,小心“网红馒头”变“网黑” 2019-08-08
  • 重攻轻防 阿兹特克雄鹰能否摆脱"16郎"尴尬 2019-08-05
  • 杀菌-热门标签-华商生活 2019-08-05
  • 2016年,有1145家上市公司大小非减持了3600亿元,还有210名上市公司高管减持了1400亿元。IPO已成了造就成千上万个十亿、百亿富豪的捷径, 2019-08-05
  • 阜阳五中成功举办第四届社团文化艺术节文艺汇演 2019-08-05
  • 欧版T90暴露法德坦克硬伤 VT4我离最强只差两步 2019-08-04
  • 市场监管总局抽检518批次粽子 未检出不合格样品 2019-08-03
  • 【理上网来·喜迎十九大】以全面从严治党调动党员干部积极性主动性创造性 2019-08-03
  • 7月1日起铁路将实施新列车运行图 北京再增12.5对复兴号 2019-07-29
  • 零关税后抗癌药降价为何“慢半拍”? 2019-07-29
  • Service Navigation

    Order to Trade Ratio

    Order to Trade Ratio

    Eurex Exchanges will redesign the Order to Trade Ratio (OTR) with effect from 3 January 2018. Main changes compared to the current OTR regime are the switch from monthly to daily observation period and the introduction of a transaction based OTR.

    The limits for the volume based OTR are set on the ratio between volume of all order-entries (ordered volume) and the trading volume per product and per day generated by orders and quotes sent by the Participants to T7. The limits for the Transaction based OTR are set on the ratio between number of all order-entries (number of orders) and the number of trades per product and per day generated by orders and quotes sent by the Participants to T7. For calculation of the ordered volume (respectively the number of orders), all types of orders and/or quotes are considered. This includes all of the following: add, modify and delete. For calculation of the traded volume (number of trades) all executions are taken into account. Please note, aggregation of volume and numbers is done on a daily basis.?

    The limits are defined based on the product type. For some products with a different behaviour, the limits are increased by a product specific factor. In case a participant fulfilled the minimum quotation requirements the limits will be increased considering the quotation performance.

    If the value of an OTR for a particular product for a particular Participant is greater than a pre-defined limit, such instance is considered a violation. Such a violation may trigger sanctions against the Participant.

    Participants can calculate a preliminary value of the OTR as well as the respective limit by themselves with the supplied intraday reports. However, the conclusion on whether the OTR is violated can be drawn only at the end of a day.

    ?

    Calculation Volume based OTR

    The volume based OTR is calculated using the following equation:

    OTR vol = [ ordered volume ]? /? [ traded volume ] - 1

    The ordered volume is the sum of:

    • the number of contracts generated by orders and quotes that are accepted by the matching engine and entered in the order book and?
    • the number of contracts that the Participant deletes from the matching engine and thus have not been executed.

    A modify of an order or quote is treated as a "delete" followed by an "add". Thus, the original order and the new order will both be counted towards the ordered volume. This process applies regardless of which attribute of the order and/or quote is changed. An IOC order is treated like an order submission, while the unexecuted portion will be treated like an order deletion.

    If an order or a quote is fully or partially deleted by the Self-Match Prevention (SMP) functionality then the ordered volume is increased both on the buy- and the sell-side only by the number of the deleted contracts.

    The traded volume is the executed volume in the order book. If the traded volume is smaller than the volume based minimum value, it is replaced with the volume based minimum value.

    The limit of the volume based OTR considers the product type, the product. For participants fulfilling the minimum quotation requirements we apply higher and dynamic limits. The dynamic limits are depending on the quote performance (i.e. number of instruments and time with quotes in relation to the minimum requirements), the spread quality, the average quote size, as well as quotation during stressed market conditions.

    Calculation Transaction based OTR

    The transaction based OTR is calculated using the following equation:

    ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? OTR count = [ number of orders ]? /? [ number of trades ] - 1


    The number of orders is the sum of:?

    • the number orders and quotes that are accepted by the matching engine and entered in the order book and?
    • the number of orders the Participant deletes from the matching engine and thus have not been executed.

    A modify of an order or quote is treated as a "delete" followed by an "add". Thus, the original order and the new order will both be counted towards the number of orders. This process applies regardless of which attribute of the order and/or quote is changed. An IOC order is treated like an order submission, while the unexecuted portion will be treated like an order deletion.

    If an order or a quote is fully or partially deleted by the Self-Match Prevention (SMP) functionality then the number of orders is increased both on the buy- and the sell-side only by the number of involved orders.

    The number of trades is the number of executions in the order book. If the number of trades is smaller than the transaction based minimum value, it is replaced with the transaction based minimum value.

    The limit of the transaction based OTR considers the product type, and the product. For participants fulfilling the minimum quotation requirements we apply higher and dynamic limits. The dynamic limits are depending on the quote performance (i.e. number of instruments and time with quotes in relation to the minimum requirements), the spread quality as well as quotation during stressed market conditions.

    Limit parameter

    The following tables shows the parameters used to calculate the volume based OTR (Please note: The limit is based on the product type of the product):



    If a product is not included in the table, i.e. has no product factor assigned, the default value of 1.00 is applied.

    The following tables shows the parameters used to calculate the transaction based OTR (Please note: The limit is based on the product type of the product):

    ?


    If a product is not included in the table, i.e. has no product factor assigned, the default value of 1.00 is applied.


    Reports

    The following reports will be available for the Participants on the Common Report Engine:

    • CB069 (Transaction Report): Report is generated on a daily basis. Additionally, intra-day versions of the report are available five times a day.
    • TR100 (Order To Trade Ratio Report): Report is generated on a daily basis.

    Under further information you can find a concept paper describing the calculation (including an example) in detail.

    ?
    ?

    Please find below a concept paper describing the calculation (including an example) in detail.

    ?

    Market Status

    XEUR

    -

    -

    Parts of the trading system are currently experiencing technical issues

    The trading system is currently experiencing technical issues

    Production newsboard

    The market status window is an indication regarding the current technical availability of the trading system. It indicates whether news board messages regarding current technical issues of the trading system have been published or will be published shortly.

    We strongly recommend not to take any decisions based on the indications in the market status window but to always check the production news board for comprehensive information on an incident.

    An instant update of the Market Status requires an enabled up-to date Java? version within the browser.

  • [雷人]蠢货!土地处于不同的城市和地段,关联的资源不一样,价值也不一样。不然给咱俩同样面积的土地,咱的在北上广深,你的在边远山区,你干么? 2019-08-18
  • 世界杯八大热门悉数亮相 西班牙巴西最有冠军相 2019-08-18
  • [微笑]不是由咱定,而是要逻辑通透符合规律! 2019-08-16
  • 高速不免费难挡出游热情 端午假期周边游、滨海游最火--旅游频道 2019-08-12
  • 个子矮脸大腿粗还有拜拜肉,这些烦恼时尚博主Hannah Morgan全都有!看她怎么靠穿搭来掩盖 2019-08-08
  • 滥用添加剂,小心“网红馒头”变“网黑” 2019-08-08
  • 重攻轻防 阿兹特克雄鹰能否摆脱"16郎"尴尬 2019-08-05
  • 杀菌-热门标签-华商生活 2019-08-05
  • 2016年,有1145家上市公司大小非减持了3600亿元,还有210名上市公司高管减持了1400亿元。IPO已成了造就成千上万个十亿、百亿富豪的捷径, 2019-08-05
  • 阜阳五中成功举办第四届社团文化艺术节文艺汇演 2019-08-05
  • 欧版T90暴露法德坦克硬伤 VT4我离最强只差两步 2019-08-04
  • 市场监管总局抽检518批次粽子 未检出不合格样品 2019-08-03
  • 【理上网来·喜迎十九大】以全面从严治党调动党员干部积极性主动性创造性 2019-08-03
  • 7月1日起铁路将实施新列车运行图 北京再增12.5对复兴号 2019-07-29
  • 零关税后抗癌药降价为何“慢半拍”? 2019-07-29
  • 高频彩开奖网 福彩3d精选列表 返奖率高彩票网 体彩泳坛夺金查询网站 双色球77期号码预测 二八杠牌技手法教学 广西11选5走势图手机版 英超足球现场直播 双色球1一33全部组合 河北20选5计划群 七星彩南海网彩票论坛 澳洲幸运10是什么彩票 皇帝网六合图库大全 四川快乐12手机软件 今晚两码中特百度一下