SECURITIES FINANCE

Broadridge to launch electronic repo trading platform

The Repo Order Quote service provides traders with the ability to quote and execute repo trades on aggregate basis.

By Hayley McDowell hayley.mcdowell@globalcustodian.com January 26, 2018 10:37 AM GMT

Broadridge Financial Solutions has unveiled a new multi-market aggregation and execution platform for repo markets.

According to the vendor, a major European bank is already using the service, known as Repo Order Quote (ROQ), which allows traders to view liquidity and pricing across various electronic marketplaces.

The system also provides traders with the ability to see demand and availability of securities, with the option to quote and execute on an aggregate basis.

Head of Broadridge’s securities finance and collateral management business, Jerry Friedhoff, described the service as being “technology-led”.

“ROQ enables repo desks to automate their trading activities via our combination of algorithmic execution and global inventory,” he said.

The platform is the latest addition to Broadridge’s existing securities finance and collateral management business and it can be interfaced with any major trading or inventory system.