BrokerTec launches next-generation Stream platform
13 April 2022 US
Image: YUL/stock.adobe.com
CME Group has announced the launch of a next-generation trading platform for BrokerTec Stream, a relationship-based streaming service for US treasuries.
BrokerTec, a provider of electronic trading platforms and technology services for fixed income and repo markets, says the new platform will provide clients with enhanced processing times and faster market data.
It will enable greater price discovery, execution certainty and cost efficiencies for clients, and support their overall trading performance.
While the platform retains existing features — such as the current API, single ticket and full amount trading protocol, firm pricing, and directed orders — it will include new features such as sweepable orders, client-to-client matching and enhanced market maker inventory management.
In addition, it will be integrated with independent software Vendors (ISVs) such as Broadway Technology to enhance liquidity and matching opportunities.
Speaking on the announcement, Sean Hodgson, executive director at BrokerTec Products, comments: "Providing our customers with advanced technology to improve the execution experience is of the utmost importance to BrokerTec.
“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."
John Estrada, global head of eMacro, Credit Suisse, adds: “We are always looking to work with partners to provide better solutions to clients. The new BrokerTec Stream platform shows that innovation continues, and we believe clients will benefit from the improved ability to trade US treasuries.”
Existing BrokerTec Stream clients will be migrated to the new platform in Q4 2022.
BrokerTec, a provider of electronic trading platforms and technology services for fixed income and repo markets, says the new platform will provide clients with enhanced processing times and faster market data.
It will enable greater price discovery, execution certainty and cost efficiencies for clients, and support their overall trading performance.
While the platform retains existing features — such as the current API, single ticket and full amount trading protocol, firm pricing, and directed orders — it will include new features such as sweepable orders, client-to-client matching and enhanced market maker inventory management.
In addition, it will be integrated with independent software Vendors (ISVs) such as Broadway Technology to enhance liquidity and matching opportunities.
Speaking on the announcement, Sean Hodgson, executive director at BrokerTec Products, comments: "Providing our customers with advanced technology to improve the execution experience is of the utmost importance to BrokerTec.
“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."
John Estrada, global head of eMacro, Credit Suisse, adds: “We are always looking to work with partners to provide better solutions to clients. The new BrokerTec Stream platform shows that innovation continues, and we believe clients will benefit from the improved ability to trade US treasuries.”
Existing BrokerTec Stream clients will be migrated to the new platform in Q4 2022.
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