CME Group will launch repo on corporate bonds and mortgage-backed securities (MBS) on BrokerTec Quote, the firm’s dealer-to-client (D2C) request-for-quote (RFQ) trading platform. US corporate bonds began trading on May 20 2024, with the remaining products live by the end of June. CME Group’s US credit futures will begin trading on 17 June 2024.
Following the launch, clients will be able to conduct their risk management and fixed income financing needs from one platform, the firm said. This is in addition to BrokerTec’s dealer-to-dealer (D2D) central limit order book (CLOB) repo platform where almost US$600 billion average daily notional volume (ADNV) of repo was transacted in 2023.
Global head of BrokerTec, John Edwards, said, “In today’s dynamic and complex financial landscape, navigating the fixed income markets for mortgages and credit presents unique challenges for clients who need sophisticated tools to manage their exposure and achieve their financing needs
“We have been actively expanding BrokerTec Quote to cover repo on all major government bond markets in recent years. The addition of corporate bonds and MBS is a natural complement to our core offering and follows significant demand from clients,” Edwards added.
©Markets Media Europe 2024
