BrokerTec Chicago goes live, targeting RV traders
New venue aims to wrestle cash leg of Treasury-futures basis trades from streaming venues
CME Group’s second central limit order book (Clob) for US Treasury trading has gone live in Chicago, co-locating its cash and futures exchanges in one place in an effort to take market share for growing relative-value trading volumes away from streaming platforms.
“Over the last 10 years in the Treasury market, liquidity in US Treasury futures has grown relative to the cash market, creating what we
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