LONDON, July 24, 2019 /PRNewswire/ -- BGC Partners,
Inc. (NASDAQ: BGCP), today announced the introduction of
Fenics Global Options ("Fenics GO") a pioneering electronic trading
and market data generation platform involving the arrangement and
execution of exchange listed futures and options. Fenics GO, in
collaboration with industry leading liquidity providers
Optiver, IMC and Maven Securities, launches Eurex listed Euro Stoxx
50 Index Options and related Delta 1 strategies allowing global
traders to access liquidity electronically and anonymously, whilst
being fully integrated into the Eurex workflow to enable seamless
front to back processing of cleared trades.
Fenics GO is a fully electronic marketplace that combines
complementary protocols to enable the dynamic work-up of multiple
trading interests, enabling traders to access and interact directly
with numerous liquidity sources quickly, securely and
efficiently.
Shaun D. Lynn, President
of BGC Partners, commented: "Fenics GO is a unique offering
available to all liquidity providers, global banks and
non-affiliated third party brokers to establish a platform that
will deliver comprehensive price discovery, liquidity formation and
market data. BGC and its affiliated brokers recognise the
importance of providing customers with fully electronic
marketplaces and are delighted to be a launch customer of Fenics
GO."
"We are delighted to work with Optiver, IMC and Maven Securities
on the development of Fenics GO. There was a gap in the market for
listed equity derivatives that Fenics GO fills by providing an
efficient and compliant platform for accessing liquidity
electronically," says Dean
Berry, Global Head of Electronic & Hybrid Markets at
Fenics. "By collaborating initially with three industry leading
liquidity providers, Fenics GO will connect liquidity takers with
liquidity makers in a transparent, seamless and integrated
workflow."
Kjelle Blom, Chief Operating Officer of Optiver Europe,
commented: "As a global market maker, Optiver is always looking for
innovation in the market and with Fenics GO, we have a platform
that is modernizing global broker markets. Optiver is delighted to
support the launch of Fenics GO as a leading liquidity
provider."
Jan Willem Köhne, Head of Europe for IMC, commented: "IMC is committed
as a founding liquidity provider to Fenics GO. We strongly
support the electronification in trading and believe with our
liquidity and Fenics GO's connectivity we will be able to deliver
unique execution to the trading community."
Ivan Koedjikov, Director of Maven Securities,
commented: "Maven is excited to be working
with Fenics GO to provide deeper liquidity in listed
options to all banks and brokers. We are confident that BGC's
global derivatives franchise and domain expertise will provide a
strong foundation for this initiative."
About Fenics Global Options
Fenics is the BGC Group's
foundation for fully electronic and associated hybrid transactions
across all asset classes. Fenics Global Options ("Fenics GO")
specialises in the arrangement of block trades for global exchange
listed options and delta 1 products. Capitalising on BGC's
electronic trading heritage, its goal is to enhance the current
voice brokerage model by offering a technologically advanced
electronic platform connecting market participants and
intermediaries directly. Fenics GO combines complementary trading
protocols to enable the dynamic work-up of multiple trading
interests anonymously. Its focus on transparency and the provision
of diverse execution methods to initiate or join transactions,
coupled with Fenics GO's leading edge technology, creates a robust
and reliable trading environment for all participants. With a
commitment to low costs, fairness, transparency, and resiliency
Fenics GO aims to be the premier OTC marketplace to source listed
derivative block liquidity.
About BGC Partners, Inc.
BGC Partners is a leading global brokerage and financial
technology company. BGC's offerings include fixed income
securities, interest rate swaps, foreign exchange, equities, equity
derivatives, credit derivatives, commodities, futures, and
structured products. BGC provides a wide range of services,
including trade execution, broker-dealer services, clearing, trade
compression, post trade, information, and other services to a broad
range of financial and non-financial institutions. Through brands
including Fenics, BGC Trader, Capitalab, Lucera, and Fenics Market
Data, BGC offers financial technology solutions, market data, and
analytics related to numerous financial instruments and markets.
BGC, BGC Trader, GFI, Fenics, Fenics Market Data, Capitalab, and
Lucera are trademarks/service marks and/or registered
trademarks/service marks of BGC Partners, Inc. and/or its
affiliates.
BGC's customers include many of the world's largest banks,
broker-dealers, investment banks, trading firms, hedge funds,
governments, corporations, and investment firms. BGC's Class A
common stock trades on the NASDAQ Global Select Market under the
ticker symbol "BGCP". BGC Partners is led by Chairman and Chief
Executive Officer Howard W. Lutnick.
For more information, please visit http://www.bgcpartners.com. You
can also follow BGC at https://twitter.com/bgcpartners,
https://www.linkedin.com/company/bgc-partners and/or
http://ir.bgcpartners.com/Investors/default.aspx.
Discussion of Forward-Looking Statements about
BGC
Statements in this document regarding BGC that are not
historical facts are "forward-looking statements" that involve
risks and uncertainties, which could cause actual results to differ
from those contained in the forward-looking statements. Except as
required by law, BGC undertakes no obligation to update any
forward-looking statements. 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's
Securities and Exchange Commission filings, including, but not
limited to, the risk factors and Special Note on Forward-Looking
Statements set forth in these filings and any updates to such risk
factors and Special Note on Forward-Looking Statements contained in
subsequent Forms 10-K, Forms 10-Q or Forms 8-K.
Media contact:
Harjeet
Singh
+44207894 8829
Investor Relations contact:
Ujjal Basu
Roy
+12126102426
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