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NEX Markets, BME Expands Clearing Options On BrokerTec Platform

Fixed income and foreign exchange trading technology firm NEX Markets' BrokerTec platform has signed an agreement with BME Clearing, the Spanish Central Counterparty (CCP) operated by BME, to launch a new clearing option for BrokerTec’s existing clients.  Many banks trade Spanish repo bilaterally and clear via BME Clearing. Through this new agreement with BME Clearing, NEX Markets will allow banks to trade via the BrokerTec platform, the primary venue for repo trading in Spain. Banks will benefit from access to a deeper pool of liquidity and improved efficiency by moving to an electronic market. BrokerTec EMEA Managing Director John Edwards said: “The Spanish repo market has...