Eurex is launching a sponsored access model for derivatives trading from 10 November, and is considering offering the same for cash equities on Xetra – 15 years after other European exchanges.
Sponsored access is a common feature of equity markets, allowing market participants to use their own proprietary electronic trading strategies on the exchange rather than a broker’s. Across Europe, the model is offered for equities by major exchanges including the London Stock Exchange (launched in 2011), Nasdaq Nordics (2009/10), Cboe (2009) and SIX, for the Swiss Stock Exchange.
Cboe offers sponsored access to its derivatives market, and Euronext offers sponsored access for its cash and derivatives markets. A sponsored access model for the repo market is expected to go live in Q2 2026.
The exchanges do not disclose sponsored access volumes. Euronext declined to comment on its sponsored access derivatives offering.
From 10 November, market participants will be able to directly access Eurex’s T7 trading platform when sponsored by an exchange member. They will operate using the trader ID of the sponsored access provider.
Any Eurex trading participant will be able to act as a sponsored access provider for indirect trading participants. They will be able to see trades through Eurex’s BU back-office session (a FIX interface), and orders through the enhanced drop copy service, and pre-trade risk limits for the indirect trading participants. They will also have access to a stop/release functionality.
Sponsoring members will hold responsibility for the user’s compliance with exchange-related legal provisions.
