Repurchase agreement (‘Repo’)

On Dec 4th 2017, Yieldbroker launched phase 1 of its AUD repo offering to the interdealer market place. The platform allows dealers to view live co-mingled repo rates, post passive orders, aggress and execute on resting liquidity, allocate and process trades – all on one platform allowing for operational efficiencies and assured execution.

Key features of phase 1 include general collateral securities and term dates only, fixed and floating repo rates, built-in GMRA counterparty selection and STP capabilities.

Phase 2, expected in the first half of 2018, will incorporate additional functionality including RBA and custom dates, transact/close out open trades and the ability to manage unwinds and substitutions. Dealer-to-client trading via Request-For-Quote (RFQ) and Tri-Party Repo in partnership with the ASX will be introduced later in 2018.

Bank bills

Yieldbroker has been active in the Bank Bills market since 2013, providing a platform which allows participants to trade prime bank paper and negotiable certificate of deposit (NCD) paper via a lit order book screen. While the focus of the bills market is on the 10am BBSW rate set, the system is available to participants throughout the Australian market trading day. Our platform provides significant post trade efficiencies in what has traditionally been a very manually intensive market, including STP, online stock allocations and daily reporting. This, combined with the Yieldbroker standard blotter and audit trail functionality, provides trading, compliance and support functions with the tools they need to operate their business in today’s market.

Yieldbroker is one of the approved trading venues for the new National Best Bid and Offer (NBBO) BBSW process. This means that bids and offers on the Yieldbroker screen are used by AFMA for the purpose of determining the best bid and the best offer in the market, the midpoint of which then becomes the published BBSW rate.

Our objective is to provide all participants in the bank bill market the ability to transact quickly and easily with their selected counterparties, reducing compliance and operational costs.