LONDON, May 18, 2023
/PRNewswire/ -- BrokerTec, a leading provider of electronic trading
platforms and technology services in fixed income markets, today
announced an expansion to its collaboration with LCH RepoClear, to
provide an efficient route for clients to clear Euro-denominated
securities with LCH through BrokerTec Quote, the dealer-to-client
Request for Quote (RFQ) Repo trading solution.
Clients of BrokerTec Quote are now able to seamlessly clear
trades in Euro-denominated securities transactions with LCH
RepoClear via Sponsored Clearing, creating new opportunities for
dealers and clients to trade Euro-denominated Repo with the
benefits of a central counterparty. Sponsored Clearing enables
buyside market participants to become direct members of LCH
RepoClear and clear their transactions with the dealer of their
choice via the sponsorship of an Agent.
"We're delighted to further extend our collaboration with LCH to
enhance BrokerTec Quote by offering clients new efficiencies in
trading Euro-denominated securities," said John Edwards, Global Head of BrokerTec. "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."
"We are pleased to expand our partnership with BrokerTec and
further extend the LCH RepoClear Sponsored Clearing ecosystem,"
said Emmanuel Rolland, COO
Repoclear, Collateral and Liquidity Management, LCH SA. "With this
collaboration, the buyside is able to gain greater access to LCH
RepoClear, the largest liquidity pool for cleared Euro-denominated
government bonds, whilst banks can benefit from netting
opportunities thus alleviating their resource management
pressures."
The collaboration between BrokerTec and LCH RepoClear builds on
an existing agreement to provide Sponsored Clearing of Gilt Repo on
BrokerTec Quote.
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.
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.
The S&P 500 Index is a product of S&P Dow Jones Indices LLC
("S&P DJI"). "S&P®", "S&P 500®", "SPY®", "SPX®", US 500
and The 500 are trademarks of Standard & Poor's Financial
Services LLC; Dow Jones®, DJIA® and Dow Jones Industrial Average
are service and/or trademarks of Dow Jones Trademark Holdings LLC.
These trademarks have been licensed for use by Chicago Mercantile
Exchange Inc. Futures contracts based on the S&P 500 Index are
not sponsored, endorsed, marketed, or promoted by S&P DJI, and
S&P DJI makes no representation regarding the advisability of
investing in such products. All other trademarks are the property
of their respective owners.
CME-G
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content:https://www.prnewswire.com/news-releases/brokertec-collaborates-with-lch-repoclear-sa-to-integrate-clearing-of-euro-denominated-securities-for-rfq-trading-solution-301828059.html
SOURCE CME Group