Technical access to the ISE Xetra® trading system is available to ISE Xetra® member firms by means of a direct connection or via a connection to the systems of an appropriate service provider. Firms accessing other Xetra markets can use their Xetra connections to access ISE Xetra® without being required to order new connections.
Direct Connection to the Xetra Trading System
Trading member firms may chose from a number of different connection methods to access the ISE Xetra® trading system depending on their own particular requirements.
VALUES API is ISE Xetra®'s traditional interface which is due to be phased out at a yet-to-to-decided date and, thus, can no longer be ordered. Member firms which currently have 512 kbit/s and/or 2 Mbit/s VALUES API connections can convert to the new Multi-Interface Channel (see below).
From December 2011 member firms have been able to access the ISE Xetra® trading system via the FIX Gateway. The FIX Gateway is a point-to-point service based on the technology and industry standards TCP/IP, FIX and FIX Session Protocol, supporting FIX versions 4.2 and 4.4.
The Multi-Interface Channel allows access to the FIX Gateway as well as to the ETS, Market Data and VALUES API interfaces via a single connection. Thus member firms can access a wide range of services with one cost-effective channel. The FIX Gateway and VALUES API are available together as the FIX Channel. The FIX Gateway is session-based but one FIX session can be used to access all Xetra markets.
The Enhanced Transaction Solution (ETS) is a high-performance, low latency order management interface which allows orders to be executed at an unprecedented speed. It also offers a range of features which considerably improve flexibility for the ISE Xetra® trading member firm. Further information, including pricing, is available in theISE Xetra EnBS and ETS Brochure.
The Enhanced Broadcast Solution (EnBS) interface offers a high-speed market data service along with access to the broadcast streams of the ISE Xetra® Market Data Interface.
Member firms trading via ETS only can use the internet-based WebTrading to access the J-Trader and subsequently be able to set up and maintain traders' access levels.
Connections which are based on leased lines should always be redundant configurations either by installation of a second leased line or with an internet connection as back-up. All of these lines can be ordered, modified or deleted with the ISE Xetra® line order form.
Ongoing line fees for direct connection to ISE Xetra® depend on the connection type selected by the participant and are shown in the ISE Xetra® Member Connections Price list which is outlinedhere.
Any queries with regard to connection fees should be directed to email@example.com.