Financial institutions sign up for BrokerTec Chicago launch
04 September 2025 US
Image: Kovacs/stock.adobe.com
Citigroup, J.P. Morgan, and Morgan Stanley will be available to trade cash US Treasuries on BrokerTec Chicago when it launches on 6 October.
The BrokerTec central limit order book (CLOB) for cash US Treasuries was first announced in March, and will be co-located in Chicago next to CME Group鈥檚 US Treasury futures and options markets to support trading between cash and derivatives markets.
Commenting on the announcement, Mike Dennis, CME Group global head of fixed income, states: 鈥淲ith these financial firms on board on BrokerTec Chicago, trading US Treasury futures and cash will be more efficient than ever before.
鈥淐ME Group is in a unique position to bring these markets together, unlocking value for our clients worldwide who want to more precisely hedge their risk amid record debt issuance and ongoing economic uncertainty.鈥�
Following the launch, clients will be able to trade all seven of BrokerTec鈥檚 on-the-run benchmark US Treasuries and access their existing connectivity to CME Globex, including the BrokerTec API.
To align with the futures market, these products will be available in smaller notional sizes and at tighter price increments.
The BrokerTec central limit order book (CLOB) for cash US Treasuries was first announced in March, and will be co-located in Chicago next to CME Group鈥檚 US Treasury futures and options markets to support trading between cash and derivatives markets.
Commenting on the announcement, Mike Dennis, CME Group global head of fixed income, states: 鈥淲ith these financial firms on board on BrokerTec Chicago, trading US Treasury futures and cash will be more efficient than ever before.
鈥淐ME Group is in a unique position to bring these markets together, unlocking value for our clients worldwide who want to more precisely hedge their risk amid record debt issuance and ongoing economic uncertainty.鈥�
Following the launch, clients will be able to trade all seven of BrokerTec鈥檚 on-the-run benchmark US Treasuries and access their existing connectivity to CME Globex, including the BrokerTec API.
To align with the futures market, these products will be available in smaller notional sizes and at tighter price increments.
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