Trade Next Generation EU ("NGEU") bonds on MTS

  • Trade Next Generation EU ("NGEU") Bonds on MTS

    Trade NGEU bonds on MTS BondVision & MTS BondVision Repo (D2C), EBM (D2D) and MTS Repo

What is the Next Generation EU initiative?

On 21 July 2020, EU leaders agreed to the creation of an economic recovery instrument (Next Generation EU - NGEU) in response to the COVID-19 pandemic. To finance this project, the EU is empowered to borrow up to EUR 750 billion between 2021-2026, on the capital markets, via NGEU bonds.

How does MTS support trading of NGEU bonds?

NGEU bonds can be traded via the following protocols on MTS’s electronic markets:

MTS BondVision supports trading via Outright, Switch, Butterfly and List RFQs in addition to comprehensive Auto Execution tools and Processed Trade registration. This flexibility combined with our extensive network of regional and global liquidity providers and unique pre-trade data from the wholesale CLOB ensures clients will always receive and trade at the best rates.

MTS BondVision Repo brings the efficiencies of electronic repo trading to the buy-side, including easy access to fund positions and cover shorts on EU Next Generation bonds.

EBM is MTS’s Central Limit Order Book (CLOB) for Euro-denominated debt instruments, including EU Next Generation bonds. It allows participants to post resting single-sided or double-sided orders that are fully executable, as well as to aggress the liquidity in the book. EBM is the ideal tool for participants to build or to unwind positions on EU Next Generation Bonds.

The MTS Repo platform is a professional e-trading venue for real-time eurozone repo trading, pricing and liquidity, uniting market participants across Europe. The creation of a dedicated GC Basket for EU Next Generation and SURE bonds enables efficient funding of dealer portfolios.

  • Data: real-time and end of day pricing information

Real-time and end of day feeds and snapshots are now available for NGEU bonds. Both these fully firm and composite prices will offer a great input for automated trading, whether the focus is on client execution/market making or for risk management purposes.

Why choose MTS for NGEU bonds?

MTS is one of Europe’s leading electronic fixed income trading markets, with over 500 unique counterparties and average daily volumes exceeding EUR 130 billion.

With over 30 years of experience, our state‐of‐the‐art technology, expert knowledge, and client‐focused consultancy benefits all market participants seeking to trade NGEU bonds.

Our platforms are used every day by a wide number of diverse counterparties, ensuring optimum liquidity for all participants.