Broadway Technology launches automated repo service
21 January 2020 New York
Image: Shutterstock
Global fintech firm Broadway Technology has rolled out new functionalities for repos on its FICC trading platform, in a bid to introduce automated workflows for trading, hedging and collateral management on a global scale.
According to Broadway, the new functionality, known as RepoTrader, integrates and streamlines the repo trading lifecycle for major institutions and allows for connectivity to multiple repo markets.
The firm says the new range of capabilities also includes order routing and management, along with execution tools to help minimise market impact and maximise quality, pricing and automated hedging.
The service includes a bulk order manager, which provides workflow tools for handling large inventories across multiple assets and geographies and enables traders to perform bulk pricing and order management across their portfolio, integrating with other processes and workflows, such as position management.
RepoTrader was designed to work in concert with Broadway’s existing fixed income functionality to enable users to trade repos and bonds that are used as underlying collateral on a single platform.
Broadway confirms that several of its European banking clients are already using the RepoTrader functionality to manage repo inventories and activity in multiple markets but was unable to offer further details on volumes or users.
Tyler Moeller, CEO of Broadway Technology, says the automation of repo trading is more of a growth opportunity for dealers than a response to regulation.
“The repo market has been ripe for innovation for years and those participants who embrace the shift towards automation and intelligence will thrive in the face of market change,” he adds.
Broadway also highlighted concerns over liquidity and incoming regulations such as the EU’s Securities Financing Transactions Regulation, which aims to improve transparency in the securities finance market via a comprehensive reporting framework.
According to Broadway, the new functionality, known as RepoTrader, integrates and streamlines the repo trading lifecycle for major institutions and allows for connectivity to multiple repo markets.
The firm says the new range of capabilities also includes order routing and management, along with execution tools to help minimise market impact and maximise quality, pricing and automated hedging.
The service includes a bulk order manager, which provides workflow tools for handling large inventories across multiple assets and geographies and enables traders to perform bulk pricing and order management across their portfolio, integrating with other processes and workflows, such as position management.
RepoTrader was designed to work in concert with Broadway’s existing fixed income functionality to enable users to trade repos and bonds that are used as underlying collateral on a single platform.
Broadway confirms that several of its European banking clients are already using the RepoTrader functionality to manage repo inventories and activity in multiple markets but was unable to offer further details on volumes or users.
Tyler Moeller, CEO of Broadway Technology, says the automation of repo trading is more of a growth opportunity for dealers than a response to regulation.
“The repo market has been ripe for innovation for years and those participants who embrace the shift towards automation and intelligence will thrive in the face of market change,” he adds.
Broadway also highlighted concerns over liquidity and incoming regulations such as the EU’s Securities Financing Transactions Regulation, which aims to improve transparency in the securities finance market via a comprehensive reporting framework.
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