BrokerTec Trading Volumes Surge Past $1 Trillion in Single Day

CME Group's BrokerTec business has recorded a new single-day volume record, with more than $1.05 trillion in average daily notional volume (ADNV) traded on 3rd March, the derivatives marketplace announced today.

The figure represents a significant increase from the $909 billion ADNV recorded in February 2025 and marks an all-time high for the platform. The record trading activity was spread across multiple product areas including U.S. Treasuries, U.S. and EU Repo, and European Government Bond platforms.

Additional trading volumes on 3rd March included $407 billion ADNV in U.S. Repo, which the company noted was the second largest U.S. Repo volume day in its history, €350 billion ADNV in EU Repo, and $137 billion ADNV in U.S. Treasuries.

"During periods of market uncertainty, clients rely on BrokerTec's highly liquid benchmark cash Treasuries and Repo markets," said John Edwards, Global Head of BrokerTec. "Our record volume was driven by trading activity in our cash Repo dealer-to-dealer CLOB, which enables clients to secure short-term funding, manage collateral efficiently, and mitigate risk in volatile times. Ongoing growth in our dealer-to-client RFQ platform, BrokerTec Quote, and momentum in our BrokerTec Stream offering also contributed to this all-time record."

The record volumes were achieved across central limit order book (CLOB), request-for-quote (RFQ), and streaming platforms, highlighting increased activity across different trading methodologies.

CME Group owns and operates BrokerTec as part of its derivatives marketplace offering, providing electronic trading platforms for fixed income products.