BrokerTec, a leading provider of electronic trading platforms and technology services in fixed income markets, today announced it will launch BrokerTec Quote, a new dealer-to-client Request for Quote (RFQ) trading solution for the European Repo market.
Launching in the second quarter of 2019 (subject to regulatory approval), BrokerTec Quote will provide market participants trading European Repo with a new, enhanced RFQ capability, providing a more intuitive and efficient means of trading. This will enable participants to make more informed trading decisions and will provide significant enhancements to negotiation and execution.
BrokerTec Quote will be available for the trading of European Sovereign Debt, UK Gilts along with Supranational and Agencies in the EU27. Future enhancements are expected to include US Treasuries and several major sovereign bond markets including Australian and Japanese Government Bonds.
“The development of RFQ functionality and launch of the new BrokerTec Quote segment is the next extension to our existing, market leading dealer-to-dealer Repo platform,” said John Edwards, Managing Director of BrokerTec Europe. “This new service will leverage the existing regulated platforms in the UK and the Netherlands for the EU27 and offers meaningful opportunities for the dealer community on BrokerTec by delivering significant efficiencies and enhanced execution services in the dealer-to-client space via an RFQ protocol.”
Clients using BrokerTec Quote will also benefit from access to BrokerTec Analytics, a new service which provides clients with individual trade performance and historical data to inform future trading decisions.
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.