BrokerTec Chicago Trades Over $1bn in U.S. Treasury Market Since October Launch
CME Group's BrokerTec Chicago has surpassed $1bn in notional trading volume across all seven U.S. Treasury tenors since its 6 October launch. The platform, which integrates cash fixed income markets with Core futures and options for the first time in CME's history, saw participation from major institutions including Citigroup, J.P. Morgan, and Morgan Stanley.
The dealer-to-dealer platform previously set a Q1 record with $1.05 trillion in average daily volume across U.S. Treasuries and repo transactions. Chicago traders now access continuous quotes for benchmark Treasuries over 90% of the trading day, with two-thirds of transactions occurring at price points unavailable in New York's CLOB.