US derivatives exchange CME Group has completed its integration of BrokerTec onto CME Globex with the migration of its US treasury benchmark trading and repo platform.
The US treasury benchmark trading and repo platform was the final part of the migration to take place, after BrokerTec’s EU government bond and repo markets platform was transferred to Globex earlier this month.
The migration means the BrokerTec global front end application is now part of Globex and users of the CME market data platform can now stream real-time BrokerTec data alongside CME futures and options data.
CME Group has been shifting the fixed income BrokerTec and EBS FX businesses to its Globex platform following its acquisition of their former parent company, UK-based NEX Group, in 2018 for £3.9 billion.
“Going forward BrokerTec clients will benefit from the world-class technology available on the CME Globex platform, allowing them to leverage new features and functionality,” said John Edwards, global head of BrokerTec at CME Group.
“As clients look to more efficiently manage their risk, this migration will facilitate greater opportunities across execution, analytics, clearing and settlement for listed interest rate derivatives, cash government bonds and repos – all in one place.”
CME recently rolled out BrokerTec Quote for the US repo market in October after first launching the platform for the repo market in Europe providing trading in European sovereign debt, UK gilts, supranational, and agencies.