BrokerTec Announces Launch of Dealer-to-Client Execution Platform for U.S. Repo Markets

Rhea-AI Summary

BrokerTec has launched its dealer-to-client request for quote (RFQ) trading platform, BrokerTec Quote, for the U.S. repo market through BrokerTec Americas, LLC. This follows its successful European repo market launch in 2019. John Edwards, Global Managing Director, emphasized that the platform enhances efficiency amid economic uncertainty. BrokerTec Quote allows U.S. clients to automate their repo execution workflow and access valuable analytics for trade performance. This initiative aims to strengthen dealer-client relationships and improve liquidity management.

Positive

• Launch of BrokerTec Quote for U.S. repo market enhances trading efficiency.
• Allows for automation of end-to-end repo execution workflows.
• Provides access to BrokerTec Analytics for trade performance insights.

Negative

• None.

LONDON and NEW YORK and CHICAGO, Oct. 26, 2020 /PRNewswire/ -- BrokerTec, a leading provider of electronic trading platforms and technology services in fixed income markets, today announced its dealer-to-client request for quote (RFQ) trading platform, BrokerTec Quote, is now available to the U.S. repo market through BrokerTec Americas, LLC.  The addition of U.S. treasury repo to the BrokerTec Quote platform follows its successful launch for European repo, European sovereign debt and UK gilts repo market users in June 2019. 

"Repo market participants are increasingly focused on efficiencies, which is driving greater electronification of overnight and short-term lending markets amid increasing economic uncertainty," said John Edwards, Global Managing Director, BrokerTec. "BrokerTec Quote and its enhanced RFQ functionality will meet this demand by enabling clients in the U.S. to more effectively manage positions and access liquidity, whilst automating their end-to-end repo execution workflow."

Clients using BrokerTec Quote will also benefit from the ability to enhance existing dealer-to-client relationships and RFQ workflow. The service allows users to automate their audit trail from start to finish and access BrokerTec Analytics, which provides clients with historical and individual trade performance data to better understand the cost to trade and inform future trading decisions.

For more information on BrokerTec Quote, visit www.cmegroup.com/brokertecquote. 

BrokerTec is a part of CME Group. As the world's leading and most diverse derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals.  The company offers futures and options on futures trading through the CME Globex® platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform.  In addition, it operates one of the world's leading central counterparty clearing providers, CME Clearing.  With a range of pre- and post-trade products and services underpinning the entire lifecycle of a trade, CME Group also offers optimization and reconciliation services through TriOptima, and trade processing services through Traiana.

CME Group, the Globe logo, CME, Chicago Mercantile Exchange, Globex, and, E-mini are trademarks of Chicago Mercantile Exchange Inc.  CBOT and Chicago Board of Trade are trademarks of Board of Trade of the City of Chicago, Inc.  NYMEX, New York Mercantile Exchange and ClearPort are trademarks of New York Mercantile Exchange, Inc.  COMEX is a trademark of Commodity Exchange, Inc. BrokerTec, EBS, TriOptima, and Traiana are trademarks of BrokerTec Europe LTD, EBS Group LTD, TriOptima AB, and Traiana, Inc., respectively.  Dow Jones, Dow Jones Industrial Average, S&P 500 and S&P are service and/or trademarks of Dow Jones Trademark Holdings LLC, Standard & Poor's Financial Services LLC and S&P/Dow Jones Indices LLC, as the case may be, and have been licensed for use by Chicago Mercantile Exchange Inc.  All other trademarks are the property of their respective owners.

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SOURCE CME Group

FAQ

What is BrokerTec's new trading platform available in the U.S. repo market?

BrokerTec's new trading platform is BrokerTec Quote, which facilitates dealer-to-client request for quote (RFQ) trading.

When was BrokerTec Quote launched for the U.S. repo market?

BrokerTec Quote was launched for the U.S. repo market as of October 26, 2020.

How does BrokerTec Quote improve trading for clients?

BrokerTec Quote improves trading by automating the execution workflow and providing analytics for trade performance.

What market did BrokerTec Quote launch in before the U.S. repo market?

BrokerTec Quote was successfully launched in the European repo market in June 2019.

Who is the Global Managing Director of BrokerTec?

The Global Managing Director of BrokerTec is John Edwards.