BrokerTec Collaborates with LCH RepoClear SA to Integrate Clearing of Euro Denominated Securities for RFQ Trading Solution

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May 18, 2023, 06:00 ET

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.

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SOURCE CME Group