LONDON, Feb. 11, 2021 /PRNewswire/ -- Fenics GO, a
pioneering electronic trading platform operated by the Fenics
division of BGC Partners, Inc. (NASDAQ: BGCP) ("BGC
Partners," "BGC" or the "Company"), has been named the winner
of the 2021 OTC Trading Platform of the Year award by Risk.net, the
financial industry's leading publication for in-depth news and
analysis on risk management, derivatives and regulation.
Fenics GO, the only multilateral electronic platform for
block-sized options which ensures best-execution, offers full
transparency of order flow as well as straight-through-processing
to the exchange. It launched with Eurex listed Euro Stoxx 50
Index Options and related Delta 1 strategies in the third
quarter of 2019 in collaboration with IMC, Maven Securities and
Optiver.
In 2020, supported by additional global liquidity partners
including Akuna Capital, Citadel Securities, Lighthouse Financial
Technologies and Susquehanna, Fenics GO arranged around
4.5 million Euro Stoxx options with a
notional value of over $80 billion.
For Nikkei 225 options, launched in February
2020, over 320,000 options with a notional value of over
$35 billion were arranged before
launching Hang Seng China Enterprises Index options in December 2020.
Risk.net commented, "The platform's appeal stems in part
from its ability to translate the voice trading process onto
electronic systems. This best-of-both-worlds approach blends
familiarity with new perks such as audit trails and easy processing
for execution and clearing."
Jean Pierre Aubin, co-global head
of brokerage at BGC Partners, commented, "We are honoured to
receive the 2021 OTC Trading Platform of the Year award by
Risk.net. This prestigious award is a testament to the
investment we have made in our people and technology in delivering
cutting-edge solutions to our clients."
The Risk.net award is the second win for Fenics GO within a
three-month period. In December 2020,
Fenics GO was named the Trading and Execution Solution of the Year
in FOW's International Awards 2020.
Luke Jeffs, managing editor of
Global Investor Group, said: "BGC has continued to demonstrate its
credentials as a market-leading supplier of execution tools as well
as a top inter-dealer broker. The Fenics GO service is a great
example of a firm using technology to deliver transparency and
efficiency, bringing some of the advantages of trading in the
listed segment to a largely OTC market."
Fenics GO received the OTC Trading Platform of the Year award at
the Risk Awards 2021 virtual ceremony in February 2021. The full report on Fenics GO's
award can be downloaded at Risk.net
Fenics GO received the Trading and Execution Solution of the
Year award at the FOW International Awards 2020 virtual
ceremony in December 2020. The full
report on Fenics GO's award can be downloaded at FOW International
Awards 2020
About Fenics GO
Fenics is the brand through which the BGC Group offers fully
electronic and associated hybrid transactions across all asset
classes. 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 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/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. 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.
Media contact:
Harjeet
Singh
+44 207-894-8829
Investor Relations contact:
Jason Chryssicas
+1 212-610-2426
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SOURCE BGC Partners, Inc.