BrokerTec, a provider of trading and technologies services for the fixed income segment, has launched a new tool for the European Repo market. BrokerTec Quote represents the company’s newest rollout that is a dealer-to-client Request for Quote (RFQ) solution.
BrokerTec Quote is slated to be available for the trading of European Sovereign Debt, UK Gilts, and other instruments. The launch is tentatively scheduled for Q2 2019, pending required regulatory approvals.
Of note, BrokerTec Quote constitutes an emphasis on a newly enhanced RFQ capability. This is important as it helps provide more intuitive and efficient means of trading for market participants.
John Edwards, Managing Director of BrokerTec Europe, explained the new solution in greater detail. “The development of RFQ functionality and launch of the new BrokerTec Quote segment is the next extension to our existing, market leading dealer-to-dealer Repo platform.”
Despite a wide range of trading instruments in focus, BrokerTec Quote will also be targeting future enhancements such as US Treasuries and several major sovereign bond markets. This will include both Australian and Japanese Government Bonds.
“This new service will leverage the existing regulated platforms in the UK and the Netherlands for the EU27 and offers meaningful opportunities for the dealer community on BrokerTec by delivering significant efficiencies and enhanced execution services in the dealer-to-client space via an RFQ protocol,” he added.
BrokerTec is hoping its new Quote solution will help strengthen informed trading decisions in regards to the European repo market. It’s RFQ functionality was engineered to provide significant enhancements to negotiation and execution.
Clients using BrokerTec Quote will also look to benefit from access to BrokerTec Analytics. This service reflects the group’s new analytics utility designed to optimize future trading decision making. This includes a focus on trade performance and historical data, among others.