CME finalizes migration of BrokerTec EU repo trading platform to CME Globex
International derivatives marketplace CME Group Inc (NASDAQ:CME) today announced that BrokerTec has successfully migrated its European government bonds and repo trading platform to CME Globex.
John Edwards, Global Head of BrokerTec, commented:
“This migration is a key step to provide greater operational efficiencies to market participants by enabling them to view and trade the world’s most liquid listed interest rate derivatives alongside cash bonds and repos on the same technology architecture. This will allow us to innovate and develop new products and services and deliver unparalleled value to customers in the fixed income markets.”
CME Group acquired BrokerTec in November 2018. The BrokerTec EU government bonds and repo platform is the first of BrokerTec’s electronic trading platforms to migrate to CME Globex. The transition of BrokerTec’s U.S. treasury and repo trading platform is scheduled for February 1, 2021.
The primary matching engines for BrokerTec US will be in the Equinix data center in Secaucus, New Jersey. The backup engines will be located in Aurora, IL for US Treasury Actives, and Equinix Slough for US Repo markets.
The primary matching engines for BrokerTec EU will be in the Equinix data center in Slough, UK. The backup engines will be located in Equinix Secaucus.
BrokerTec offers three trading platforms to access fixed income markets, each designed to meet your specific trading needs. BrokerTec central limit order book (CLOB) is the industry-leading, dealer-to-dealer electronic trading platform supporting US Treasuries, US and EU repo markets and European government bond cash markets. BrokerTec Quote is a dealer-to-client request for quote (RFQ) trading solution for the European and US Repo markets. BrokerTec Stream is a robust, relationship-based streaming platform for US Treasury markets, backed by BrokerTec’s leading expertise, infrastructure and network of dealers.