LONDON, Dec. 4, 2020
/PRNewswire/ -- Capitalab, a division of BGC Brokers LP, an
entity within the BGC Partners, Inc. (NASDAQ: BGCP) group of
companies, today announced a services agreement with CLS Group
(CLS), a market infrastructure delivering settlement, processing
and data solutions for the global foreign exchange (FX) market.
Providing innovative and enhanced FX optimisation services to
the marketplace, Capitalab's multilateral compression services will
benefit from FX forwards and swaps data direct from CLS in all
CLSSettlement-eligible currencies, enhancing the speed and
efficiency of FX portfolio optimisation.
"As highlighted by the Bank for International Settlements' most
recent Quarterly Review, FX market systemic risks are growing,
leading to an increasing need for multilateral optimisation and
risk-reduction techniques," said Gavin
Jackson, Capitalab's London-based co-founder.
"We are delighted to consolidate our presence in FX through our
services agreement with CLS, which will enable previously
unexplored possibilities. Combining Capitalab's multi-product
technology with CLS data allows us to offer the market new FX
solutions and unique optimisation of several risk metrics,
including notional, margin and counterparty risks," commented
David Bachelier, Capitalab's
Singapore-based co-founder.
Keith Tippell, Global Head of Product at CLS said, "CLS
settlement members continue to focus resources on optimization and
risk mitigation. Our unique position at the center of the FX market
enables us to collaborate with specialized service providers, like
Capitalab, for the benefit of our common client base. We are
excited to collaborate with Capitalab and, via the combination of
their innovation and CLS trade data, help enable capital
efficiencies and risk mitigation for market participants."
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, Equity options, FX 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. Capitalab
is part of the Fenics' division of BGC Partners, Inc. 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 specializes
in the brokerage of a broad range of products, including fixed
income (rates and credit), foreign exchange, equities, energy and
commodities, shipping, insurance, and futures. BGC also provides a
wide variety of services, including trade execution, brokerage,
clearing, trade compression, post-trade, information, and other
back-office 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 of the Board
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/bgcpartners 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 "forwardlooking statements" that
involve risks and uncertainties, which could cause actual results
to differ from those contained in the forward-looking statements.
These include statements about the effects of the COVID-19 pandemic
on the Company's business, results, financial position, liquidity
and outlook, which may constitute forward-looking statements and
are subject to the risk that the actual impact may differ, possibly
materially, from what is currently expected. 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 Information set forth in these
filings and any updates to such risk factors and Special Note on
Forward-Looking Information contained in subsequent reports on Form
10-K, Form 10-Q or Form 8-K.
About CLS
CLS helps clients navigate the changing FX
marketplace – reducing risk and creating efficiencies. Our
extensive network and deep market intelligence enable CLS
specialists to lead the development of standardized solutions to
real market problems. Our innovative, forward-looking products make
the trading process faster, easier, safer and more cost-effective –
empowering our clients' success. For more information
visit cls-group.com.
Media contact at BGC Partners, Inc.:
Harjeet
Singh
+44 20 7894 8829
Investor contact at BGC Partners, Inc.:
Jason
Chryssicas
+1212 610 2426
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SOURCE BGC Partners, Inc.