Insight & Analysis

Press release: BrokerTec to launch Next-Gen platform

Published: Apr 2022

13th April 2022 – BrokerTec, a leading provider of electronic trading platforms and technology services in fixed income markets, today announced that it will launch a next-generation trading platform for BrokerTec Stream, its relationship-based, streaming service for U.S. Treasuries.

Newspaper press release

Existing BrokerTec Stream clients will be migrated to the new platform in Q4 2022. The next-generation platform will provide clients with significantly enhanced processing times and faster market data. It will enable greater price discovery, certainty of execution and cost efficiencies for clients, and support their overall trading performance.

The new BrokerTec Stream platform will retain existing features such as the current API, single ticket/full amount trading protocol, firm pricing, and directed orders. It will also include new features such as sweepable orders, client-to-client matching, and enhanced market maker inventory management. The new BrokerTec Stream platform will continue to share the same front end, credit limits and Straight Through Processing (STP) as the BrokerTec dealer-to-dealer central limit order book (CLOB). In addition, it will be integrated with industry leading ISV’s such as Broadway Technology to enhance liquidity and matching opportunities.

“Providing our customers with the most advanced technology to improve the execution experience is of the utmost importance to BrokerTec,” said Sean Hodgson, Executive Director, BrokerTec Products. “The next-generation BrokerTec Stream platform delivers significantly reduced latency and will enable us to further innovate by rolling out new products, order types and execution logics in the future.”

“We are always looking to work with partners to provide better solutions to clients,” said John Estrada, Global Head of eMacro, Credit Suisse. “The new BrokerTec Stream platform shows that innovation continues, and we believe clients will benefit from the improved ability to trade U.S. Treasuries.”

“We’re passionate about working closely with our customers to meet their evolving needs and transform their fixed income businesses,” said Bruce Boytim, COO, Broadway Technology. “We are particularly excited to integrate BrokerTec Stream with Broadway’s Toc platform, further continuing our mission to bring new innovations, liquidity, and flexibility to our clients.”

For more information on BrokerTec Stream 2.0, please contact: BrokerTecStream@cmegroup.com

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