CHICAGO and LONDON, March 24,
2022 /PRNewswire/ -- BrokerTec, a leading provider of
electronic trading platforms and technology services in fixed
income markets, today announced that it has partnered with Broadway
Technology to make its Relative Value (RV) Curve spread trading
functionality available on Broadway's Toc platform.
The integration provides mutual clients with access to the full
RV Curve product suite to increase execution efficiencies by
merging liquidity from BrokerTec's industry-leading central limit
order book with a single-threaded matching engine to eliminate
legging risk, provide inside liquidity, and increase matching
opportunities when trading benchmark spreads.
"We're pleased to collaborate with Broadway to bolster liquidity
and grow the ecosystem of clients participating in U.S. Treasury
spread trading on BrokerTec," said Sean
Hodgson, Executive Director, BrokerTec
Products. "Clients increasingly are turning to RV Curve to
efficiently manage their risk along the curve with 42 clients
trading over $125bn notional volume
to date."
"Since its inception, Broadway has established itself as a
trusted partner to the trading community with a legacy of
innovation that has armed our clients with the most complete
functionality they need to maximize their fixed income trading
operations," said Bruce Boytim, COO
of Broadway. "As spread trading continues to be a growing
priority for our clients, we're proud to be able to offer them
access to BrokerTec RV Curve and give them a more efficient way to
trade the U.S. Treasury curve. By partnering closely with BrokerTec
to support its complete offering and introduce this new
functionality to Broadway clients, we can bring the tangible
benefits of RV Curve to a broader portion of the trading
community."
BrokerTec launched RV Curve in 2021 to allow market participants
to trade pre-defined cash U.S. Treasury benchmark spreads as a
yield differential and in a single order for the first time. The
tool offers 21 spreads, providing a full view of the relationships
between 2-, 3-, 5-, 7- and 10-year Treasury notes and 20- and
30-year Treasury bonds. By allowing trades to be executed in a
single order, clients can trade the yield curve more efficiently
and without legging risk or price slippage.
For more information on RV Curve, please
visit: www.cmegroup.com/rvcurve.
As the world's leading derivatives marketplace, CME Group
(www.cmegroup.com) enables clients to trade futures, options, cash
and OTC markets, optimize portfolios, and analyze data – empowering
market participants worldwide to efficiently manage risk and
capture opportunities. CME Group exchanges offer the widest range
of global benchmark products across all major asset classes based
on interest rates, equity indexes, foreign
exchange, energy, agricultural
products and metals. The company offers futures and
options on futures trading through the CME Globex® platform,
fixed income trading via BrokerTec and foreign exchange trading on
the EBS platform. In addition, it operates one of the world's
leading central counterparty clearing providers, CME Clearing.
BrokerTec Americas LLC ("BAL") is a registered broker-dealer
with the U.S. Securities and Exchange Commission, is a member of
the Financial Industry Regulatory Authority, Inc. (www.FINRA.org),
and is a member of the Securities Investor Protection Corporation
(www.SIPC.org). BAL does not provide services to private or retail
customers.
CME Group, the Globe logo, CME, Chicago Mercantile Exchange,
Globex, and, E-mini are trademarks of Chicago Mercantile
Exchange Inc. CBOT and Chicago Board of Trade are
trademarks of Board of Trade of the City of Chicago, Inc. NYMEX, New York Mercantile
Exchange and ClearPort are trademarks of New York Mercantile
Exchange, Inc. COMEX is a trademark of Commodity Exchange,
Inc. BrokerTec and EBS are trademarks of BrokerTec Europe LTD and
EBS Group LTD, respectively. Dow Jones, Dow Jones Industrial
Average, S&P 500 and S&P are service and/or trademarks of
Dow Jones Trademark Holdings LLC, Standard & Poor's Financial
Services LLC and S&P/Dow Jones Indices LLC, as the case may be,
and have been licensed for use by Chicago Mercantile Exchange
Inc. All other trademarks are the property of their
respective owners.
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SOURCE CME Group