A form of short-term borrowing for dealers in government securities, where the dealer sells the government securities to investors, usually on an overnight basis, and buys them back the following day.
Following an approval from the Financial Industry Regulatory Authority, the broker-dealer adds correspondent clearing, fixed income prime brokerage, and securities lending to its offerings
Q1 2025 was BrokerTec’s highest overall volume quarter on record, with US$913 billion average daily notional value transacted, up 22 per cent year-on-year
These changes were made ahead of the SEC's deadline for mandatory clearing of covered US Treasury cash activity and repo activity, set for 31 March 2025
The new central limit order book will be co-located next to CME Group’s US Treasury futures and options markets to support trading between cash and derivatives markets