Deutsche Borse has enhanced Xetra with Release 11.0, as part of improving the efficiency of the pan-European trading system.
According to the Deutsche Borse, order information can now be sent to participants in real time via Enhanced Transaction Solution interface, which has been upgraded.
Deutsche Borse said that the new execution restriction ‘book or cancel’ (BOC) facilitates targeted provision of liquidity on Xetra. BOC orders can only be in the order book to provide liquidity, and so are only stored in the order book when no immediate execution is possible.
Deutsche Borse added that the processing time of non-persistent orders has also been shortened. The non-persistent orders will not be saved in exchange systems, if trading is interrupted and will not be executed after such interruptions.