GFI upgrades Repo trading system

GFI upgrades Repo trading system

GFI Group, a provider of brokerage, software and data services, has upgraded its GFInet Repo trading screen and added two new products to the dealing system, including the new Forward General Allocation Collateral (FAGC) derivative instruments.

The new version of the GFInet Repo trading screen - currently used by 100 dealers at 40 banks across Europe - allows traders to increase order sizes after executing a trade; more easily visualise multiple bidders and sellers on screen; display Volume Weighted Average prices (VWAP); view total daily trade volumes per issue; and engage in online direct conversations with other traders.

The new products include FAGC Repo, a new derivative instrument which allows traders to postpone the definition of the security to be delivered as part of a GC Repo (General Collateral) trade to a date in the future.

Additionally, GFI has added the trading of Corporate Bond Repo to GFInet, allowing the trading of repurchase agreements for Euro, USD and GBP investment grade corporate securities.

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