05.29.2020

BrokerTec And TriOptima Automate Lifecycle Of Repo Trades

05.29.2020

BrokerTec, a leading provider of electronic trading platforms and technology services in fixed income markets, and TriOptima, a leading infrastructure service that lowers costs and mitigates risk in OTC derivatives markets, today announced that they have collaborated to deliver the industry’s first end-to-end repo workflow solution for industry participants. This provides full automation across the lifecycle of a repo trade.

Connecting the BrokerTec Quote dealer-to-client Request for Quote (RFQ) trading platform with triResolve enables clients to enrich a trade from the point of execution with a unique trade identifier (UTI), before sending it for reconciliation. This means firms can more easily track and correct any back-office trade and evaluation mismatches in client systems, before reporting the trade data to the repository.

“Inefficient repo workflows have long been an operational burden for the buy-side,” said Kate Karimson, Head of Fixed Income Product, Europe, BrokerTec. “Creating an end-to-end automated repo workflow solution replaces previously manual processes and frees up internal resources to put to work elsewhere.”

BrokerTec Quote launched in the second quarter of 2019 and provides market participants with a more intuitive and efficient means of trading repo across European Sovereign Debt, UK Gilts, General Collateral, Supranational and Agencies in the EU 27. BrokerTec intends to expand the service to US Treasuries and other product sectors in Q3 2020.

BrokerTec and TriOptima are part of CME Group.

Source: CME Group

Related articles

  1. From The Markets

    LSEG to Acquire MayStreet

    This acquisition is a milestone for expanding LSEG's real-time data offering.

  2. ICE Futures Singapore was founded to connect regional and international participants in Asia.

  3. Euronext Expands Commodity Derivatives

    Non-volume related revenue accounted for 55% of Q1 2022 total revenue.

  4. Bats-Direct Edge Complete Merger
    From The Markets

    ICE Divests Euroclear Stake

    In October 2021 ICE announced that it planned to divest its stake in Euroclear for €709m.

  5. FTX’s proposal would replace futures commission merchants with an automated and centralized process.