Wholesale trading offer

Off-order book on-exchange trading is available across the Euronext financial derivatives markets in Amsterdam, Brussels, Lisbon and Paris. Customers can execute and report their wholesale financial derivatives business through five facilities.

Request for Cross (RFC) Facility

The RFC facility can be used for cross trades with a size below or above the Large-in-Scale (LiS) minimum volume threshold. After the RFC is submitted by the RFC Initiator there is a 1-2 second auction period that is open to all market participants. During this RFC response period other participants (RFC Reactors) may choose to price-join or improve the cross level. After the RFC response period ends the RFC is executed. Depending on the prices of the RFC Reactor responses, one or more RFC Reactors may trade against the RFC Initiator.

Available:

• For all equity and index options listed on the four Euronext Financial Derivatives markets
• During contract trading hours.

For full details of the RFC facility, please see section 3.4 of the Euronext Trading Procedures.

Large-in-Scale (LiS) Facility and Large-in-Scale (LiS) Prof Facility

Permits the trading of large-in-size business in an exchange environment. The execution of a Large‐in‐Scale (LiS) trade is subject to compliance with the minimum volume threshold (variable according to the contract), fair value, and, in the case of LiS Prof, the Package composition or Prof ID.

Available:

• For all contracts listed on the four Euronext Financial Derivatives markets;
• During extended hours (from 07:00 CET to either 18:30 CET or 22:00 CET, depending on contract.

For full details of the LiS facilities, please see section 4.5 of the Euronext Trading Procedures.

Guaranteed Cross (GXT) Facility

Allows clients to submit their pre‐negotiated business to the Exchange at or inside the Best Bid Offer Spread (BBO).

Available:

• For all contracts listed on the four Euronext Financial Derivatives markets
• For trades above the LiS minimum volume threshold
• During Central Order Book trading hours

For full details of the GXT facility, please see section 4.6 of the Euronext Trading Procedures.

Basis Trading (BAS) Facility

This facility is for transactions between a basis trade instrument (a correlated security, a basket of securities, a traded contract listed on another trading venue or an OTC instrument) and an appropriate number of offsetting futures in order to trade the difference in price of the two related instruments. A LIS minimum volume threshold applies to one leg but not the related other leg.

Available:

• For all index futures (except dividend futures) and all Euronext single stock futures
• During Central Order Book trading hours

For full details of the BAS facility, please see section 4.2 of the Euronext Trading Procedures.