BrokerTec and LCH RepoClear expand partnership
18 May 2023 UK
Image: Marco Scisetti/stock.adobe.com
Electronic trading platform and technology firm BrokerTec has expanded its partnership with LCH RepoClear.
Users of BrokerTec Quote, the company’s dealer-to-client request for quote repo trading solution, will now be able to clear euro-denominated securities on the platform with LCH RepoClear.
RepoClear’s sponsored clearing feature allows buy-side market participants to clear their transactions with the dealer of their choice via the sponsorship of an agent, facilitating euro-denominated repo trading with the benefits of a central counterparty. This enhances existing clearing relationships, the company says.
Commenting on the announcement, John Edwards, global head of BrokerTec, says: “This improved functionality for existing and new clients will help further accelerate trading opportunities on BrokerTec Quote, our rapidly growing bilateral, relationship-driven alternative execution service to our market leading central limit order book for repo transactions."
Emmanuel Rolland, chief operating officer of RepoClear, collateral and liquidity management at LCH, adds: "With this collaboration, the buy side is able to gain greater access to LCH RepoClear, the largest liquidity pool for cleared Euro-denominated government bonds, while banks can benefit from netting opportunities thus alleviating their resource management pressures."
Users of BrokerTec Quote, the company’s dealer-to-client request for quote repo trading solution, will now be able to clear euro-denominated securities on the platform with LCH RepoClear.
RepoClear’s sponsored clearing feature allows buy-side market participants to clear their transactions with the dealer of their choice via the sponsorship of an agent, facilitating euro-denominated repo trading with the benefits of a central counterparty. This enhances existing clearing relationships, the company says.
Commenting on the announcement, John Edwards, global head of BrokerTec, says: “This improved functionality for existing and new clients will help further accelerate trading opportunities on BrokerTec Quote, our rapidly growing bilateral, relationship-driven alternative execution service to our market leading central limit order book for repo transactions."
Emmanuel Rolland, chief operating officer of RepoClear, collateral and liquidity management at LCH, adds: "With this collaboration, the buy side is able to gain greater access to LCH RepoClear, the largest liquidity pool for cleared Euro-denominated government bonds, while banks can benefit from netting opportunities thus alleviating their resource management pressures."
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