BrokerTec US repo climbs 31% YoY for September
03 October 2025 US
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CME Group鈥檚 BrokerTec has achieved a record month for US repo average daily notional value (ADNV), which was up 31 per cent year-on-year (YoY) for September, generating US$401 billion.
According to the firm, the figure represents a month-on-month (MoM) growth of 5 per cent, and reflects an ongoing demand for efficient short-term funding solutions.
The platform also set a new record for the third quarter of 2025, with US repo average daily volumes (ADV) generating US$379 billion.
John Edwards, global head of BrokerTec at CME Group, says quarterly refunding added collateral in the system while money market funds (MMFs) had record levels of assets.
He confirms that volumes went up substantially during the last week of the month, when there was some volatility in general collateral (GC) and specials.
BrokerTec's overall ADNV for the month of September was US$961 billion, up 16 per cent YoY across benchmark cash US Treasuries, European government bonds and US and EU repo on its dealer-to-dealer CLOB and D2C RFQ platforms.
In terms of EU repo ADV, volumes remained robust during September, generating 鈧�298 billion 鈥� up 6 per cent MoM and 4 per cent YoY.
As anticipated by the market, both the European Central Bank and the Bank of England held interest rates at current levels.
For US Treasuries ADNV, volumes for September were up 8 per cent MoM to US$89.1 billion. However, this represented a 25 per cent decline YoY.
According to the firm, the figure represents a month-on-month (MoM) growth of 5 per cent, and reflects an ongoing demand for efficient short-term funding solutions.
The platform also set a new record for the third quarter of 2025, with US repo average daily volumes (ADV) generating US$379 billion.
John Edwards, global head of BrokerTec at CME Group, says quarterly refunding added collateral in the system while money market funds (MMFs) had record levels of assets.
He confirms that volumes went up substantially during the last week of the month, when there was some volatility in general collateral (GC) and specials.
BrokerTec's overall ADNV for the month of September was US$961 billion, up 16 per cent YoY across benchmark cash US Treasuries, European government bonds and US and EU repo on its dealer-to-dealer CLOB and D2C RFQ platforms.
In terms of EU repo ADV, volumes remained robust during September, generating 鈧�298 billion 鈥� up 6 per cent MoM and 4 per cent YoY.
As anticipated by the market, both the European Central Bank and the Bank of England held interest rates at current levels.
For US Treasuries ADNV, volumes for September were up 8 per cent MoM to US$89.1 billion. However, this represented a 25 per cent decline YoY.
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