BrokerTec & TriOptima Deliver End-to-End Repo Workflow Solution

The solution will be the first in the industry, the companies said.

BrokerTec and TriOptima announced this Thursday that they have joined forces to deliver an end-to-end repo workflow solution for industry participants, the first in the industry, the companies said in the joint statement today.

The new solution provides full automation across the lifecycle of a repo trade. BrokerTec is a provider of electronic trading platforms and services in fixed income markets, whereas TriOptima is an infrastructure service for the over the counter derivatives markets. Both are part of the CME Group.

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BrokerTec Quote to be connected with triResolve

Under the agreement, BrokerTec will use its Quote solution, a dealer-to-client Request for Quote (RFQ) trading platform, which has been connected with triResolve. This connection allows clients to have a unique trade identifier (UTI) for their trades, before sending it for reconciliation, the statement released today said. 

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Commenting on the partnership, Kate Karimson, Head of Fixed Income Product, Europe, BrokerTec said in the statement: “Inefficient repo workflows have long been an operational burden for the buy-side. Creating an end-to-end automated repo workflow solution replaces previously manual processes and frees up internal resources to put to work elsewhere.”

As Finance Magnates reported, BrokerTec introduced in May of last year a new tool for the European Repo market – BrokerTec Quote. At the time, BrokerTec Quote was the company’s newest rollout, and it is a dealer-to-client Request for Quote (RFQ) solution.

BrokerTec Quote was launched in the second quarter of last year. It provides market participants with a different way of trading repo across European Sovereign Debt, UK Gilts, General Collateral, Supranational, and Agencies in the EU 27.

Although the product was launched in the second quarter of last year, BrokerTec does intend to expand the service to US Treasuries and other product sectors in the third quarter of this year, the company said in the statement.

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