BrokerTec Chicago to Launch New U.S. Treasury Trading Platform on October 6

CME Group, the global leader in derivatives markets, will launch BrokerTec Chicago on October 6, introducing a central limit order book for cash U.S. Treasury trading. Citigroup, J.P. Morgan, and Morgan Stanley are confirmed as inaugural participants, signaling strong institutional adoption.

The platform will feature all seven benchmark U.S. Treasuries, with enhanced efficiency through smaller notional sizes and tighter price increments. "This integration of futures and cash markets delivers unprecedented hedging precision during record debt issuance," said Mike Dennis, CME Group's Global Head of Fixed Income.

BrokerTec's existing infrastructure processed $1.05 trillion in daily volume during Q1 2023, demonstrating the scalability of institutional fixed-income platforms. Market makers will leverage existing CME Globex connectivity, including the BrokerTec API, ensuring seamless adoption.