Fenics U.S. Treasuries (“Fenics UST”) is a fully electronic U.S Government securities (“USTs”) trading venue owned and operated by BGC Financial, L.P. (“BGC”). Fenics UST operates a Central Limit Order Book (“CLOB”). Subscribers to the platform are banks, broker-dealers, professional trading firms (PTFs) and institutional investors.
The CLOB will compete with well-entrenched incumbents in a marketplace designed for low-latency hedgers and arbitrageurs utilizing the tightest tick size in the U.S. Treasury Market, 1/16th of 1/32nd.
Fenics UST is the fastest, most stable, and most reliable ultra-low latency matching engine in the cash UST marketplace. All modern forms of electronic connectivity are supported, including binary protocol, FIX protocol and high-speed internet access with secured VPN.
TT supports trading of all On-The-Run U.S. Treasury instruments will trade in increments of 1/16th of 1/32nd.
The following lists exchange functionality that TT currently supports:
TT does not currently support Fenics OTC and block orders.
Trading Hours: Sunday evening through Friday, 6:30 PM - 5:35 PM Eastern Time (NY)
The TT® platform supports connectivity to the exchange, so you do not have to contact the exchange regarding connectivity options.