Release 14.1

Overview and Functionality

May 04, 2026

T7 Market Model for the Trading Venue Xetra

This document describes the principles of order handling, order matching and price determination as offered by the different trading forms typically available on the trading venue Xetra: auction and continuous trading.

Download

May 04, 2026

T7 Market Model Continuous Auction

The purpose of this document is to describe electronic trading of instruments in the Continuous Auction trading models. The market model defines the principles of order matching and price determination as implemented in the trading system. This includes the available trading models, the prioritization of orders, the different order types and the transparency, i.e. the type and the extent of information available to market participants during trading hours.

Download

Apr 27, 2026

T7 Release 14.1 - Functional Technical Release Notes Deutsche Börse Xetra & Deutsche Börse Frankfurt, Version 2

The release notes for T7 give an overview of the functional and technical enhancements and changes to be introduced.

Download

Mar 23, 2026

T7 Release 14.1 - Focus Call Presentation

The document provides an overview of T7. It describes the major functional and system features, and provides a high level description of the interface landscape.

Download

Mar 09, 2026

T7 Release 14.1 - Functional & Interface Overview, Version 1

The document provides an overview of T7. It describes the major functional and system features, and provides a high level description of the interface landscape.

Download

Mar 09, 2026

T7 Release 14.1 Functional Reference, Version 1

This document provides a detailed insight into the functional concepts of the T7 trading architecture.

Download

Mar 09, 2026

T7 Release 14.1 - T7 Cross System Traceability, Version 1

This document contains detailed information on order, quote and trade traceability across trading and clearing systems focusing on the markets XEUR (Eurex Frankfurt) and XETR (Xetra Frankfurt).

Download

System Documentation

May 04, 2026

T7 Market Model for the Trading Venue Xetra

Download

May 04, 2026

T7 Market Model Continuous Auction

Download

Apr 27, 2026

T7 Release 14.1 - Functional Technical Release Notes Deutsche Börse Xetra & Deutsche Börse Frankfurt, Version 2

The release notes for T7 give an overview of the functional and technical enhancements and changes to be introduced.

Download

Mar 23, 2026

T7 Release 14.1 - Focus Call Presentation

The document provides an overview of T7. It describes the major functional and system features, and provides a high level description of the interface landscape.

Download

Mar 09, 2026

T7 Release 14.1 - Functional & Interface Overview, Version 1

The document provides an overview of T7. It describes the major functional and system features, and provides a high level description of the interface landscape.

Download

Mar 09, 2026

T7 Release 14.1 Functional Reference, Version 1

This document provides a detailed insight into the functional concepts of the T7 trading architecture.

Download

Mar 09, 2026

T7 Release 14.1 - T7 Cross System Traceability, Version 1

This document contains detailed information on order, quote and trade traceability across trading and clearing systems focusing on the markets XEUR (Eurex Frankfurt) and XETR (Xetra Frankfurt).

Download

Apr 24, 2026

T7 Release 14.1 - Derivatives Markets Gui Whats New, Version 1

This document provides compact information of the new GUI related features for the release.

Download

Apr 24, 2026

T7 Release 14.1 - Cash Markets Gui Whats New, Version 1

This document provides compact information of the new GUI related features for the release.

Download

Mar 09, 2026

T7 Release 14.1 - Web App Connectivity Guide Version 1

This document describes the connectivity options and setup process to access GUIs from the T7 Web App family.

Download

Mar 09, 2026

T7 Release 14.1 - Derivatives Markets - Participant and User Maintenance - Manual, Version 1

This manual is intended to assist service administrators who are responsible for maintaining participant and user related data in T7.

Download

Mar 09, 2026

T7 Release 14.1 - Cash Markets - Participant and User Maintenance - Manual, Version 1

This manual is intended to assist service administrators who are responsible for maintaining participant and user related data in T7.

Download

Mar 09, 2026

T7 Release 14.1 - Trader GUI, Admin GUI and Clearer GUI - Installation Manual, Version 1

This document provides information on Deutsche Börse's T7 GUI solutions, the T7 Trader GUI, T7 Admin GUI and T7 Clearer GUI from a technical point of view. The document explains how to establish connection to Deutsche Börse's T7 with the GUI solutions.

Download

Feb 27, 2026

T7 Release 14.1 Derivatives Markets Trader, Admin and Clearer GUI Manual, Version 1

This document provides information on the T7 Derivatives Markets GUI solutions, the Eurex Trader GUI, Admin GUI and Clearer GUI for T7. All views and functions of the T7 Derivatives Markets GUIs are described.

Download

Feb 27, 2026

T7 Release 14.1 Cash Markets Trader, Admin and Clearer GUI Manual, Version 1

This document provides information on the T7 Cash Markets GUI solutions, the Xetra Trader GUI, Xetra Admin and Xetra Clearer GUI for T7. All views and functions of the T7 Cash Markets GUIs are described.

Download

Circulars

Readiness Statement

Readiness Videos

Release Items/Participants Requirements

Feature/Enhancement	Details	Action Item
Enhanced Drop Copy (EDC) Interface for Cash Markets	We are launching a new Enhanced Drop Copy (EDC) interface that provides a complete and consolidated feed of all client order activities, including "lean orders" which are not available in the current listener broadcast. This offers Trading Participants a comprehensive overview of their order inventory for improved internal risk management and easier reconciliation. Clearing Members will be able to perform real-time, pre-trade risk monitoring by overseeing the complete order book activity of your trading participants.	To use this service, interested Trading Participants and Clearing Members must sign up for a new EDC session. Clearing Members will also need to request and receive approval from their Trading Participants via the T7 Admin/Clearer GUI to access their order flow.
Auction Volume Discovery (AVD) in Continuous Trading	A new "Auction Volume Discovery" (AVD) order type will be introduced for all scheduled auctions on Xetra. By flagging an order as AVD, it can be executed at the auction price without influencing the price formation process itself. This feature allows Trading Participants to execute large volumes while minimizing market impact. It also enables prioritized matching for internal orders from the same business unit when using an "Internalization ID," offering greater flexibility and control over your auction strategies.	To utilize this new order type, clients will need to adapt their trading applications and internal systems. Comprehensive testing in the provided simulation environment is strongly recommended to ensure the software is ready.
Quote Request Solution (QRS) in Continuous Auction	The Quote Request Solution (QRS) will be extended to the Continuous Auction with Market Maker trading model, which is currently used for structured products on Deutsche Börse Frankfurt. This change allows you to directly request a quote from a Market Maker for an instrument. Following their response, you can accept the quote, which may lead to an execution within the next auction, streamlining the trading process for these specific products.	To take advantage of this new functionality, clients will need to ensure that their trading software is prepared for the changes. We encourage thorough testing in the simulation environment to confirm readiness.

Contacts

Connection, admissions, changes, functional member readiness

Without admission write to: client.services@deutsche-boerse.com

T: Please contact your Key Account Manager

Ring the Bell

Deutsches Eigenkapitalforum

Xetra Midpoint

Circulars and newsletters

Ring the Bell

Ring the Bell

Ring the Bell

Ring the Bell

Ring the Bell

Deutsches Eigenkapitalforum

Deutsches Eigenkapitalforum

Deutsches Eigenkapitalforum

Xetra Midpoint

Xetra Midpoint

Xetra Midpoint

Xetra Midpoint

Xetra Midpoint

Xetra Midpoint

Xetra Midpoint

Xetra Midpoint

Circulars and newsletters

Circulars and newsletters

Circulars and newsletters

Circulars and newsletters

Circulars and newsletters

Circulars and newsletters

Circulars and newsletters

Release 14.1

Overview of content

Overview and Functionality

T7 Market Model for the Trading Venue Xetra

T7 Market Model Continuous Auction

T7 Release 14.1 - Functional Technical Release Notes Deutsche Börse Xetra & Deutsche Börse Frankfurt, Version 2

T7 Release 14.1 - Focus Call Presentation

T7 Release 14.1 - Functional & Interface Overview, Version 1

T7 Release 14.1 Functional Reference, Version 1

T7 Release 14.1 - T7 Cross System Traceability, Version 1

Overview of content

System Documentation

Overview and Functionality

T7 Market Model for the Trading Venue Xetra

T7 Market Model Continuous Auction

T7 Release 14.1 - Functional Technical Release Notes Deutsche Börse Xetra & Deutsche Börse Frankfurt, Version 2

T7 Release 14.1 - Focus Call Presentation

T7 Release 14.1 - Functional & Interface Overview, Version 1

T7 Release 14.1 Functional Reference, Version 1

T7 Release 14.1 - T7 Cross System Traceability, Version 1

Enhanced Trading Interface

T7 Release 14.1 Enhanced Trading Interface - Manual, Version 2

T7 Release 14.1 Enhanced Trading Interface - Derivatives Message Reference, Version 2

T7 Release 14.1 Enhanced Trading Interface - Cash Message Reference, Version 2

T7 Release 14.1 Enhanced Trading Interface - XSD XML representation and layouts, Version 2

T7 Simulation Public Key for ETI password encryption [sequence no.4]

T7 Börse Frankfurt Simulation Public Key for ETI password encryption [sequence no. 4]

T7 Production Public Key for ETI password encryption [sequence no.3]

T7 Börse Frankfurt Production Public Key for ETI password encryption [sequence no.3]

FIX LF

T7 Release 14.1 FIX LF Interface - FIX LF Manual, Version 2

T7 Release 14.1 FIX LF Interface - Derivatives Message Reference, Version 2

T7 Release 14.1 FIX LF Interface - Cash Message Reference, Version 2

T7 Release 14.1 - FIX LF XSD XML representation and layouts, Version 2

Enhanced Drop Copy Interface

T7 Release 14.1 Enhanced Drop Copy Interface - Manual, Version 1

T7 Release 14.1 Enhanced Drop Copy Interface - Derivatives Message Reference, Version 1

T7 Release 14.1 Enhanced Drop Copy Interface - Cash Message Reference, Version 1

T7 Release 14.1 Enhanced Drop Copy Interface - XSD XML representation and layouts, Version 1

Market and Reference Data Interfaces

GUI Solutions

T7 Release 14.1 - Derivatives Markets Gui Whats New, Version 1

T7 Release 14.1 - Cash Markets Gui Whats New, Version 1

T7 Release 14.1 - Web App Connectivity Guide Version 1

T7 Release 14.1 - Derivatives Markets - Participant and User Maintenance - Manual, Version 1

T7 Release 14.1 - Cash Markets - Participant and User Maintenance - Manual, Version 1

T7 Release 14.1 - Trader GUI, Admin GUI and Clearer GUI - Installation Manual, Version 1

T7 Release 14.1 Derivatives Markets Trader, Admin and Clearer GUI Manual, Version 1

T7 Release 14.1 Cash Markets Trader, Admin and Clearer GUI Manual, Version 1

Network Access

T7 Disaster Recovery Concept 2026 - Interface Configuration Details v.1.1

N7 Network Access Guide v.2.9.4

T7 Market Data Report Derivatives 2026-02-26