BrokerTec Overview

Founded in January 1999 by a consortium of 14 of the world's largest financial services companies, BrokerTec is a leading global electronic fixed income trading platform.

ICAP acquired the BrokerTec Futures Exchange in May of 2003. ICAP is now the leading global electronic interdeal broker, as well as the leading voice broker. ICAP facilitates daily average transaction volume in excess of $1 trillion, 50% of which is electronic.

BrokerTec Exchange API

TT® supports the following:

  • Prices: OMNet (BO14 or BO23 high performance feed)
  • Orders: OMNet

BrokerTec Matching

BrokerTec uses a ‘work-up’ order matching methodology. The Workup matching methodology rewards market participants for the risk of showing bids or offers with a period of exclusivity during which they can increase order size.

Workup is divided into three distinct phases – the private, public, and idle phases. In the private phase, workup provides a one-on-one trading window between the workup owners.

Connectivity Options

Refer to TT Access for more details about your connectivity options for connecting to TT.