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BrokerTec Plans Expansion for Treasuries Streaming Technology

  • Private-market arrangements can offer smaller price increments
  • CME is fending off interdealer trading threat from Tradeweb

BrokerTec, an electronic-trading platform for U.S. Treasuries, plans this year to roll out improvements to a technology called streaming that’s aimed at smaller financial institutions, according to its parent company, CME Group Inc.

Streaming has existed in foreign exchange for years, and in Treasuries since at least 2017. It allows small institutions that buy and sell mainly to hedge risk to receive a continuous pricing feed from a large bank or trading firm whose main business is market-making, effectively forming a private market.