BrokerTec European repo volumes reach record highs

The first quarter of 2021 was a record-breaking period for BrokerTec’s European repo volumes – hitting an Average Daily Trading Volume (ADV) of €286.7 billion across the first three months of 2021.

  • BrokerTec’s European repo business, which includes Euro and Sterling denominated dealer-to-dealer transactions, experienced two record breaking months in a row in February and March 2021. The platform saw a new high in February 2021 of €290.8bn ADV and then a record breaking €299bn in March 2021. Both February and March surpassed the volumes in March 2020 which came in at €284.7 billion at the height of the Covid-19 pandemic.
  • The platform sawa new all-time daily nominal record volume day on March 1 at €338.8 billion (single count), compared to the previous high of €320.0 billion on March 11, 2020. The previous quarterly high was in Q2 2019 at €282.1bn.
  • “Last quarter’s record volumes highlights that the short-term Repo markets in Europe and the UK continue to function well and, since the completion of technical migration of the BrokerTec business to the CME Globex platform, demonstrates the robustness of the platform as we continue to see a significant increase in volume traded and order flow,” said John Edwards, Global Head of BrokerTec. “Repo is experiencing an uptick as more cash enters the fixed income markets and is being put to work in the short end using Repo. As market participants continue to seek the efficient deployment of cash and capital through secured borrowing and lending in the sovereign bond markets, as well as the broader benefits of trading electronically and anonymously, we anticipate this increased activity and customer participation to continue in the weeks and months ahead.”

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