Citigroup Inc. and Deutsche Bank AG have helped form a consortium to back a new electronic interdealer broker network that hopes to slash costs and make trades more transparent.

The network, which will operate in markets in the United States and Europe, is being built by BrokerTec LLC. The firm says it plans to launch a platform that will allow for the trading of Treasury coupons and Euro- denominated sovereign debt.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.