BrokerTec provides repo trading as a spread to €STR
06 October 2023 UK
Image: koya979/stock.adobe.com
BrokerTec, a firm wholly-owned by CME Group, has provided a range of new opportunities to trade European repo as a spread to the Euro short-term rate (€STR).
The electronic trading platform and technology services provider says the new functionality offers further flexibility to clients, with efficient hedging for term repo trading in a fluctuating interest rate environment.
The enhancement allows the trading of repo as a spread to €STR in all European repo markets, except for Italy and Spain. Clients are able to clear trades through LCH RepoClear SA.
This adds to an existing opportunity to trade French repo versus €STR, which is already provided by BrokerTec.
European repo is available for trading on the BrokerTec EU Regulated Market, operated by CME Amsterdam B.V.
Commenting on the announcement, John Edwards, global head of BrokerTec, says: “In today’s uncertain interest rate environment, clients are seeking new tools to trade term repo.
“This enhancement expands on our central limit order book for trading European repo, with clearing available from day one to support the industry’s need for efficient electronic trading.”
BrokerTec’s Edwards and Sara Carter, global head of Repo, recently spoke to SFT in Issue 337 about the new spread and the firm’s advances within the repo space.
The electronic trading platform and technology services provider says the new functionality offers further flexibility to clients, with efficient hedging for term repo trading in a fluctuating interest rate environment.
The enhancement allows the trading of repo as a spread to €STR in all European repo markets, except for Italy and Spain. Clients are able to clear trades through LCH RepoClear SA.
This adds to an existing opportunity to trade French repo versus €STR, which is already provided by BrokerTec.
European repo is available for trading on the BrokerTec EU Regulated Market, operated by CME Amsterdam B.V.
Commenting on the announcement, John Edwards, global head of BrokerTec, says: “In today’s uncertain interest rate environment, clients are seeking new tools to trade term repo.
“This enhancement expands on our central limit order book for trading European repo, with clearing available from day one to support the industry’s need for efficient electronic trading.”
BrokerTec’s Edwards and Sara Carter, global head of Repo, recently spoke to SFT in Issue 337 about the new spread and the firm’s advances within the repo space.
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