Tag: BrokerTec

BrokerTec

Changes at the Top for Former NEX Businesses

CME Group has appointed new heads to the EBS, BrokerTec and Optimisation business lines as part of its ongoing integration with NEX Group, which the exchange acquired last year. Jeff Ward has been named global head of EBS, having formerly served as global head of NDFs and forwards and head of EBS Asia, based in […]

CME Brokertec Unveils Repo Solution

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 […]

Analysts Steady on CME Forecast After NEX Acquisition

Equities analysts at UBS have issued a research report on the merger between CME Group and NEX Group, stating that while they are confident in the potential upsides to this deal, the benefits might not start to materialise for at least a year.

Having previously downgraded CME shares from “Buy” to “Neutral”, the UBS analysts Alex Kramm and John Goode decided to maintain the current rating, with an unchanged 12-month price target of $204 per share. At the time the report was issued, CME shares were trading at $189.51.

NEX, Eurex, Launch Repo Clearing Solution

NEX Markets has announced that BrokerTec Europe has worked with Eurex Clearing to launch a new clearing solution for the European repo market.
The new clearing solution will be live by the end of 2018 and will allow existing BrokerTec clients to select to clear their repo transactions via Eurex Clearing. “This solution will allow market participants to consolidate their European repo and corresponding OTC and listed derivatives business under the single risk framework of Eurex Clearing, via the BrokerTec platform,” the firms say.

EBS BrokerTec Re-Brands as Nex Markets

NEX Group (Nex) has announced that its EBS BrokerTec business has been renamed Nex Markets, effective immediately.

Four business lines were created when Nex was launched on 30 December 2016: Nex Markets, Nex Optimisation, Nex Opportunities and Nex Exchange.

EBS BrokerTec previously sat as a sub-brand within the Nex Markets business line. As a result of the rename, Nex will no longer use EBS BrokerTec and the entire business will be known as Nex Markets.

The business will retain its current service names for its FX and fixed income platforms; EBS and BrokerTec.

e-Mid Added to the Nex Group

BrokerTec, Nex Group’s electronic fixed income trading platform, has agreed to acquire a controlling majority stake in e-Mid, the Italian electronic central limit order book (CLOB) for interbank deposits and Overnight Indexed Swaps (OIS).
The transaction is subject to certain conditions, including the approval of the Bank of Italy, the firm says that subject to receipt of this approval it expects the transaction to complete in the next few months.
Upon completion of the transaction, e-Mid will become a subsidiary of BrokerTec Europe Ltd.

Redline to Support BrokerTec Market

Redline Trading Solutions has announced that it will support BrokerTec Market.

With the release of BrokerTec support, combined with previously announced support for eSpeed, Redline says that it will be able to provide its customers with a comprehensive solution for high-performance trading of on-the-run US Treasury products.

“We see the fixed income market gearing up for a shift from voice and legacy electronic systems to high-performance trading solutions, much as we observed a similar transition in the foreign exchange market beginning several years ago,” says Mark Skalabrin, CEO of Redline.