CHICAGO and LONDON, April 13, 2022 /PRNewswire/ -- BrokerTec, a leading provider of electronic trading platforms and technology services in fixed income markets, today announced that it will launch a next-generation trading platform for BrokerTec Stream, its relationship-based, streaming service for U.S. Treasuries.
Existing BrokerTec Stream clients will be migrated to the new platform in Q4 2022. The next-generation platform will provide clients with significantly enhanced processing times and faster market data. It will enable greater price discovery, certainty of execution and cost efficiencies for clients, and support their overall trading performance.
The new BrokerTec Stream platform will retain existing features such as the current API, single ticket/full amount trading protocol, firm pricing, and directed orders. It will also include new features such as sweepable orders, client-to-client matching, and enhanced market maker inventory management. The new BrokerTec Stream platform will continue to share the same front end, credit limits and Straight Through Processing (STP) as the BrokerTec dealer-to-dealer central limit order book (CLOB). In addition, it will be integrated with industry leading ISV's such as Broadway Technology to enhance liquidity and matching opportunities.
"Providing our customers with the most advanced technology to improve the execution experience is of the utmost importance to BrokerTec," said Sean Hodgson, Executive Director, BrokerTec Products. "The next-generation BrokerTec Stream platform delivers significantly reduced latency and will enable us to further innovate by rolling out new products, order types and execution logics in the future."
"We are always looking to work with partners to provide better solutions to clients," said John Estrada, Global Head of eMacro, Credit Suisse. "The new BrokerTec Stream platform shows that innovation continues, and we believe clients will benefit from the improved ability to trade U.S. Treasuries."
"We're passionate about working closely with our customers to meet their evolving needs and transform their fixed income businesses," said Bruce Boytim, COO, Broadway Technology. "We are particularly excited to integrate BrokerTec Stream with Broadway's Toc platform, further continuing our mission to bring new innovations, liquidity, and flexibility to our clients."
For more information on BrokerTec Stream 2.0, please contact: BrokerTecStream@cmegroup.com
As the world's leading 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.
BrokerTec Americas LLC ("BAL") is a registered broker-dealer with the U.S. Securities and Exchange Commission, is a member of the Financial Industry Regulatory Authority, Inc. (www.FINRA.org), and is a member of the Securities Investor Protection Corporation (www.SIPC.org). BAL does not provide services to private or retail customers.
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 and EBS are trademarks of BrokerTec Europe LTD and EBS Group LTD, 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.
SOURCE CME Group