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Exchange Information

Exchange Background

The TT Fenics Gateway connects to BGC Partner's Fenics U.S. Treasury (UST) electronic trading platform.  BGC Partners is a global inter-dealer broker that provides integrated voice and electronic brokerage services including price discovery, trade execution, straight-through processing, and clearing and settlement to wholesale market participants worldwide. BGC is active in the global fixed income, rates, foreign exchange, equity derivatives, credit derivatives, futures and structured product markets.

Available Products

The Fenics Gateway supports trading of all On-The-Run U.S. Treasury Bonds products (e.g., 10 year OTR) and When-Issued contracts available for trading on the Fenics UST platform.

Asset Classes

BGC offers products in the Bond asset class on Fenics.

Trading Hours

Trading Hours are: Monday through Friday, 5:50 PM - 5:35 PM Eastern Time (NY)

Supported Exchange Functionality

The following lists exchange functionality that TT currently supports:

  • Fenics products with a ticking of 1/16 of 1/32
  • Rolling contracts

Unsupported Exchange Functionality

The following lists exchange functionality that TT does not currently support:

  • OTC and block orders

Market States

The following are the Fenics U.S. Treasury trading platform market states per instrument:

Market States
Market State in X_TRADER Description Exchange Market State
Halt

The instrument is temporarily disabled from trading. All open orders are cancelled and new orders are rejected.

H (Halted)
Open Orders are accepted and matched. Prices update based on market activity. T (Trading)
Non-Tradeable The instrument is not available to trade. Orders are rejected by the TT Gateway and no prices are available N (Non-Tradeable)