LONDON, April 17, 2019 /PRNewswire/ -- Capitalab, a
division of BGC Brokers LP, an entity within the BGC Partners, Inc.
(NASDAQ: BGCP) group of companies, today announced the execution of
Capitalab's first Rates Initial Margin (IM) Optimisation exercise
incorporating cleared IM at multiple Central Clearing
Counterparties (CCPs). This run involved 10 leading market
participants and was conducted as an extension to Capitalab's
existing multilateral Rates IM Optimisation service.
"Capitalab continues to innovate at a fast pace, bringing new
efficiencies to the capital markets. We are delighted to add
multi-CCP runs to our portfolio of optimisation services, extended
further to help buy-side with both the effect of Uncleared Margin
Regulation and margin across multiple CCPs," said Gavin Jackson, Capitalab's London-based co-founder.
"We are delighted to confirm our new multi-CCP IM Optimisation
service has gone live successfully with 10 major players of the EUR
Interest Rates market. We believe this is the first time Initial
Margin has been optimised across multiple clearinghouses, in a
multilateral, orderly and controlled fashion," commented
David Bachelier, Capitalab's
Singapore-based co-founder.
The inaugural multi-CCP IM Optimisation execution follows
Capitalab's largest non-cleared margin optimisation exercise on
record earlier this month, with $3
billion of margin reduced multilaterally in April 2019.
About Capitalab
Capitalab, a division of BGC Brokers
L.P., provides compression services that are designed to bring
greater capital and operational efficiency to the global
derivatives market. It assists clients in managing the growing cost
of holding derivatives, while helping them to meet their regulatory
mandates. Through the Swaptioniser® service for portfolio
compression of Interest Rate Swaptions, Interest Rate Swaps, Caps
and Floors and FX Options, as well as Initial Margin Optimisation
service and fully automated trade processing, Capitalab looks to
simplify the complexities of managing large quantities of
derivatives to promote sustainable growth and lower systemic risk
and to improve resiliency in the industry. The Capitalab brand is
part of Fenics's fully electronic family of brands. BGC Brokers
L.P. is authorised and regulated by the UK Financial Conduct
Authority and is based in London.
BGC Brokers LP is a subsidiary of BGC Partners, Inc. (NASDAQ:
BGCP), a leading global brokerage and financial technology
company.
About BGC Partners, Inc.
BGC Partners is a leading
global brokerage and financial technology company. BGC's Financial
Services 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 Partners,
Inc.
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 undertake 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 set forth in these filings and any
updates to such risk factors contained in subsequent Forms 10-K,
Forms 10-Q or Forms 8-K.
Media Contacts:
Harjeet
Singh
+44207894 8829
Investor Contacts:
Ujjal Basu
Roy
+12126102426
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SOURCE BGC Partners, Inc.