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Mosaic Finance, a French trading firm, has accused Eurex of a loophole allowing certain traders to bypass monitoring systems by submitting corrupted data orders. These traders can allegedly send millions of orders per second, exceeding Eurex's 30,000-per-second limit, granting them a competitive advantage.
Mosaic claims this issue has persisted for three years, significantly impacting their business, and has raised concerns with regulators like ESMA and BaFin. Eurex denies the allegations, stating its systems have been reviewed without evidence of the claimed flaw. Mosaic's independent investigations suggest otherwise, urging regulatory intervention for fairness and financial integrity.
