BrokerTec Quote Adds U.S. Treasury Repo
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.
Source: CME Group
Electronification of the municipal bond market also presents a large opportunity.
The success of Northbound trading showed electronic execution is way forward for the bond market.
Algorithms have become more prevalent in the spot FX market.
Increased electronification has created useable and accessible real-time and historic trade data.
Buy-side firms can discover liquidity more efficiently and execute on Turquoise.