BrokerTec revealed today that it is launching a new trading platform for BrokerTec Stream, a streaming service for U.S. Treasuries. Current BrokerTec clients will be migrated to the new platform in Q4 of 2022.
The new platform has faster market data and significant improvements were made to the processing times. The new platform offers enhanced price discovery and cost efficiencies for customers.
The current API, single ticket/full amount trading protocol, firm pricing and directed orders will remain available in the new platform.
The expected new features are sweepable orders, enhanced market maker inventory management and client-to-client matching. The front end will remain the same as well as credit limits and Straight Through Processing (STP) as dealer-to-dealer central limit order book (CLOB).
Besides the above, the new platform will be integrated with Broadway Technology for liquidity and matching.
BrokerTec Americas LLC ('BAL') is a registered broker-dealer with the US Securities and Exchange Commission (SEC ). In addition, it is a member of the Securities Investor Protection Corporation. At the time of writing, the company does not provide its services to either private or retail clients.
Officials Remarks
Sean Hodgson, an Executive Director at BrokerTec Products, said: "Providing our customers with the most advanced technology to improve the execution experience is of the utmost importance to BrokerTec.
"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, the Global Head of eMacro at Credit Suisse, said: "We are always looking to work with partners to provide better solutions to clients.
"The new BrokerTec Stream platform shows that innovation continues, and we believe clients will benefit from the improved ability to trade U.S. Treasuries."
Bruce Boytim, the COO at Broadway Technology, said: "We're passionate about working closely with our customers to meet their evolving needs and transform their fixed income businesses.
"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."
