BrokerTec announced that it will launch a next-generation trading platform for BrokerTec Stream, its relationship-based, streaming service for US Treasuries.
Existing BrokerTec Stream clients will be migrated to the new platform in Q4 2022. The next-generation platform is expected to provide clients with significantly enhanced processing times and faster market data, as well as 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.
Sean Hodgson, executive director of BrokerTec Products, said in a statement: “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.”
John Estrada, global head of eMacro at Credit Suisse, said in a statement: “The new BrokerTec Stream platform shows that innovation continues, and we believe clients will benefit from the improved ability to trade US Treasuries.”
Bruce Boytim, COO at Broadway Technology, said in a statement that the integration of the firm’s Toc platform with BrokerTec Stream furthers new innovations, liquidity, and flexibility for its clients.