Extension of time to validate pending Wholesale orders and Block Trades for all Euronext Derivatives markets
The extension of time to accept a pending Wholesale order/Block Trade on Optiq® is now live for all eligible Euronext Derivatives markets. This provides greater flexibility for market participants while maintaining existing reporting and validation rules.
What has changed?
The time to validate pending Wholesale orders/Block Trades for Reactors has been extended until the end of the trading session for all Euronext Derivatives markets.
Previously, any pending Wholesale order/Block Trade not matched by the Reactor(s) within 15 minutes was automatically cancelled.
From now on, any pending Wholesale order/Block Trade for which a corresponding match with contra order has not been happened will be cancelled at the end of the trading session.
Scope of application
This enhancement applies to all Euronext Derivatives markets, including:
- Financial Derivatives
- Commodity Derivatives
- Power Derivatives
What remains unchanged?
Once the Initiator submits a single-sided Wholesale order / Block Trade, it remains in a pending state on Optiq® until the Reactor(s) submits the matching contra order(s).
The following rules continue to apply:
- Firms acting as both buyer and seller may continue to submit both sides in a single Wholesale order message
- Where multiple Reactors are involved, the total submitted quantity must match the Initiator’s reported quantity
- Block Trades on Power Derivatives are not subject to trade acceptance by Reactor validation and are executed immediately.
Why this matters
This enhancement provides greater operational flexibility, while preserving existing reporting obligations, market integrity, and transparency standards across Euronext Derivatives markets.
Need support?
For any questions or assistance regarding this update, please contact:
ClientSupport@euronext.com