BGC Trader IRS is an extension of BGC Partners’ proprietary hybrid technology platform, which enables customers to transact a wide range of products fully electronically.
Stefano Falciani, managing director, List UK comments: “With seamless connectivity to BGC Trader IRS, our clients are able to trade Euro Interest Rate Swaps (IRS) electronically. This increases the efficiency of IRS trading and promotes liquidity and transparency, and the ability to comply with regulatory requirements. With this addition, List is one of the only providers to offer connectivity to swap execution facilities through its platform FastTrade.”
Philip Norton, Executive Managing Director, Global Head of e-Commerce, BGC Partners, comments: “We have seen significant traction in fully electronic trading of Euro IRS since BGC Trader IRS launched in September. The addition of fully electronic Euro, as well as US Dollar-denominated IRS is a key continuation of our strategy to support BGC’s strong voice franchise with electronic execution of a growing range of products through our BGC Trader technology platform. The number of desks offering fully electronic services to our clients is increasing rapidly and as a member of our Preferred Vendor Program, List is able to quickly connect to our increasing range of electronically traded products via its FastTrade platform.”
FastTrade currently connects to more than 50 electronic markets for equities, bonds, futures, options and repos. Its single interface integrates with external electronic markets, brokers, information sources and internal markets. Its functionality includes market making support, algorithmic trading and risk management.
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About BGC™ Trader
BGC Partners, Inc (Nasdaq: BGCP) developed BGC Trader as its proprietary multi-asset, integrated voice and electronic price execution platform for the inter-bank and broker community. Introduced through extensive customer feedback, BGC Trader offers a feature-filled, flexible and easy to use front-end. Users benefit from thin-client technology, which allows improved delivery with managed product updates and enhancements, speed, availability and resilience.
BGC Trader is fully integrated with a choice of either voice or electronic access to support multiple products including:
• Fixed income
• European corporate cash
• FX Options
• Credit default swaps
BGC’s platform is regulated as a multilateral trading facility (MTF) by the FSA and adheres to the EU’s Markets in Financial Instruments Directive.
About BGC Partners, Inc.
BGC Partners is a leading global intermediary to the wholesale financial markets, specializing in the brokering of a broad range of financial products, including fixed income securities, interest rate swaps, foreign exchange, equities, equity derivatives, credit derivatives, commodities, futures, structured products and other instruments.
BGC Partners also provides a full range of services, including trade execution, broker-dealer services, clearing, processing, information, and other back office services to a broad range of financial and non-financial institutions. BGC Partners’ integrated platform is designed to provide flexibility to customers with regard to price discovery, execution and processing of transactions, and enables them to use voice, hybrid, or, where available, fully electronic brokerage services in connection with transactions executed either OTC or through an exchange. Through its eSpeed and BGC Trader brands, BGC Partners uses its proprietary, built, and paid for technology to operate multiple buyer, multiple seller real-time electronic marketplaces for the world’s most liquid capital markets.
The Company’s pioneering suite of tools provides end-to-end transaction solutions for the purchase and sale of financial products over its global private network or via the Internet. BGC Partners’ neutral platform, reliable network, straight-through processing and superior products make it the trusted source for electronic trading for the world's largest financial firms. Through its BGCantor Market Data brand, the Company also offers globally distributed and innovative market data and analysis products for numerous financial instruments and markets. BGC Partners’ customers include many of the world’s largest banks, broker-dealers, investment banks, trading firms, hedge funds, governments and investment firms. BGC’s partnership structure and extensive employee ownership create a distinctive competitive advantage among its peers. Named after fixed income trading innovator B. Gerald Cantor, BGC Partners has offices in 20 locations, in New York and London, as well as in Beijing, Chicago, Copenhagen, Hong Kong, Istanbul, Johannesburg, Mexico City, Moscow, Nyon, Paris, Rio de Janeiro, São Paulo, Sarasota, Seoul, Singapore, Sydney, Tokyo and Toronto. For more information, visit http://www.bgcpartners.com.
Specialist electronic trading technology provider, List, created Europe’s first electronic market in 1989 (MID Interbank Deposits). Since then, List has successfully developed and implemented 15 electronic markets including Government bond markets, systematic internalisation systems and MiFID compliance solutions.
List’s multi-asset class platform, FastTrade, seamlessly integrates with electronic markets via a single interface for equities, bonds, futures, options and repo trading. FastTrade offers customisable modules for market making, order management, Smart Order Routing, algorithmic trading, risk management, hedging and settlement. FastTrade is available as an in-house or Application Service Provider (ASP) solution.
List’s FTX matching engine allows the creation and management of regulated markets, dark and light Multilateral Trading Facilities (MTFs), systematic internalisation engines and electronic OTC trading platforms.
GRC Evolution is a complete Governance Risk and Compliance Management software suite. Fully web-based, GRC Evolution can be used with any risk management methodology to meet evolving risk management and regulatory requirements worldwide.
FMR Consulting, List’s research and development division is dedicated to developing software tools for quantitative finance.
Founded in 1985, List has grown rapidly in the last three years with turnover increasing three-fold to €25 million and its number of employees growing to 170. Its client base of more than 130 exchanges, banks and brokers is now spread across 15 countries and List has a presence in Europe, the US, Middle East and Asia.
Discussion of Forward-Looking Statements by BGC Partners
Statements in this press release regarding BGC Partners’ business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see BGC Partners’ Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors set forth in our public filings which we incorporate by reference, including our Form 10-K for the year ended December 31, 2009, as filed with the SEC on March 16, 2010 and any updates to such risk factors contained in subsequent 10-Q filings.
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