LONDON and NEW YORK, May 28, 2020 /PRNewswire/ -- BrokerTec, a leading provider of electronic trading platforms and technology services in fixed income markets, and TriOptima, a leading infrastructure service that lowers costs and mitigates risk in OTC derivatives markets, today announced that they have collaborated to deliver the industry's first end-to-end repo workflow solution for industry participants. This provides full automation across the lifecycle of a repo trade.
Connecting the BrokerTec Quote dealer-to-client Request for Quote (RFQ) trading platform with triResolve enables clients to enrich a trade from the point of execution with a unique trade identifier (UTI), before sending it for reconciliation. This means firms can more easily track and correct any back-office trade and evaluation mismatches in client systems, before reporting the trade data to the repository.
"Inefficient repo workflows have long been an operational burden for the buy-side," said Kate Karimson, Head of Fixed Income Product, Europe, BrokerTec. "Creating an end-to-end automated repo workflow solution replaces previously manual processes and frees up internal resources to put to work elsewhere."
BrokerTec Quote launched in the second quarter of 2019 and provides market participants with a more intuitive and efficient means of trading repo across European Sovereign Debt, UK Gilts, General Collateral, Supranational and Agencies in the EU 27. BrokerTec intends to expand the service to US Treasuries and other product sectors in Q3 2020.
BrokerTec and TriOptima are part of CME Group. For more information on BrokerTec, visit: https://www.cmegroup.com/trading/market-tech-and-data-services/brokertec.html. For more information on TriOptima, visit: https://www.trioptima.com/
As the world's leading and most diverse derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals. The company offers futures and options on futures trading through the CME Globex® platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform. In addition, it operates one of the world's leading central counterparty clearing providers, CME Clearing. With a range of pre- and post-trade products and services underpinning the entire lifecycle of a trade, CME Group also offers optimization and reconciliation services through TriOptima, and trade processing services through Traiana.
CME Group, the Globe logo, CME, Chicago Mercantile Exchange, Globex, and, E-mini are trademarks of Chicago Mercantile Exchange Inc. CBOT and Chicago Board of Trade are trademarks of Board of Trade of the City of Chicago, Inc. NYMEX, New York Mercantile Exchange and ClearPort are trademarks of New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. BrokerTec, EBS, TriOptima, and Traiana are trademarks of BrokerTec Europe LTD, EBS Group LTD, TriOptima AB, and Traiana, Inc., respectively. Dow Jones, Dow Jones Industrial Average, S&P 500 and S&P are service and/or trademarks of Dow Jones Trademark Holdings LLC, Standard & Poor's Financial Services LLC and S&P/Dow Jones Indices LLC, as the case may be, and have been licensed for use by Chicago Mercantile Exchange Inc. All other trademarks are the property of their respective owners. TriOptima AB is regulated by the Swedish Financial Supervisory Authority for the reception and transmission of orders in relation to one or more financial instruments. TriOptima AB is registered with the US National Futures Association as an introducing broker.
SOURCE CME Group