- 22 Oct 2024
- By CME Group
The end of summer can often be a slower time for markets, but it was an incredibly active period for BrokerTec Quote. Weekly, monthly and daily records were easily surpassed. Of particular note:
- Nominal ADV has increased 200% YoY
- Multiple record days throughout summer, with highest ADV on September 25
- 8 of the top 10 biggest-volume days in BrokerTec Quote were in August, while the trend continued into September with 10 record days in the month.
Source: CME Group
See more about how BrokerTec Quote and the rest of our products and services are fulfilling the market's needs, especially during times of heightened volatility.
Recent enhancements only further expand the potential for growth on the D2C Repo RFQ platform. Support for Asian trading hours has been extended, while new functionality for search and best price calculations have been implemented.
See the full list of supported products, key features and connectivity choices for additional details.
Important changes for CLOB UST trading have also driven record activity on that platform in 2024. With heightened volatility, the BrokerTec CLOB was able to provide continuous deep liquidity pools for risk management of on-the-run Treasuries, including a robust $249 billion in average daily notional value (ADNV) on August 5.
Part of this increased volume can be attributed to recent enhancements to the platform, such as the MPI reduction for the 7-Year Note. This change to 1/4 of a tick has led to increased top-of-book activity and spreads that have tightened by as much as 33%.
Source: CME Group
BrokerTec Stream also joined in on the positive trends across the platform as of late, including three straight record months across the summer.
Market makers continue to join the platform, helping to boost liquidity. Connect with us for details, or see more about our relationship-based platform on our home page below.
All data as of October 1, 2024 unless otherwise noted.
August was a banner month for the RV platform, bolstered by activity in Butterfly trades as market volatility increased. Featured highlights:
- Record month: $2.8 billion in ADV, including half a billion in Butterflies
- 2024's high session: August 5 saw $7.5 billion, the second-highest since launch
Complementing our Government Repo execution offering, Corporate Repo is now available for trading on Quote. MBS is coming soon to round out our offering. Reach out to your dedicated BrokerTec representative for details.
The latest addition to the ever-growing European trading lineup is new Austrian T-Bill Cash instruments, Repos and GC Baskets.
All three will be listed on Globex, see the recent notice for details on these new products which are available for customer testing in New Release.
In addition to cash markets, CME Group will allow for the seamless display of €STR and SOFR futures directly on the BrokerTec GFE later this quarter. This opens up additional liquidity and risk management opportunities, all on a single platform.
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