BrokerTec, a provider of electronic trading platforms and part of CME Group, has unveiled a dealer-to-client request-for-quote (RFQ) trading platform, BrokerTec Quote, for the US repo market.
The platform, hosted by BrokerTec Americas, aims to offer a way to more-effectively manage positions and access liquidity while also automating the end-to-end repo execution workflow, says John Edwards, global managing director at BrokerTec.
It will additionally automate the entire audit trail and offer access to BrokerTec Analytics, which provides clients with historical and individual trade performance data to better understand the cost to trade and inform future trading decisions.
Clients using BrokerTec Quote will benefit from the ability to enhance existing dealer-to-client relationships and RFQ workflow, says BrokerTec.
"Repo market participants are increasingly focused on efficiencies, which is driving greater electronification of overnight and short-term lending markets amid increasing economic uncertainty," adds Edwards.
The launch comes shorty after, BrokerTec and TriOptima collaborated to deliver the market’s first end-to-end repo workflow solution, aimed at providing mutual buy-side clients with automation across the life cycle of a transaction.
The partnership between the two CME Group subsidiaries connects BrokerTec Quote with TriOptima’s triResolve to provide a straight-through processing link for users to better manage repo transaction data.
