CME Brokertec has announced the launch of BrokerTec Quote, a new dealer-to-client 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 what the firm says will be “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, it adds.
The new service 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 firm says.
“The development of RFQ functionality and launch of the new BrokerTec Quote segment is the next extension to our existing dealer-to-dealer repo platform,” says 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 be able to access BrokerTec Analytics, a new service which provides clients with individual trade performance and historical data to inform future trading decisions.