NEW YORK, Sept. 17, 2014 /PRNewswire/ -- BGC Partners, Inc. (NASDAQ: BGCP) ("the Company" or "BGC"), a leading global brokerage company servicing the financial and real estate markets, today announced that its Swap Execution Facility subsidiary, BGC Derivative Markets, L.P. has executed Made Available To Trade ("MAT") USD Interest Rate Swap transactions with pre-trade credit checking performed on behalf of third parties by Traiana CreditLink. Trades can be delivered for central clearing at both LCH.Clearnet and CME Clearing.
"We are pleased to report that BGC has successfully completed mandated pre-trade credit checks, bringing together our multiple means of compliant execution with Traiana in a seamless transaction," said Philip Norton, Executive Managing Director, Global Head of e-Commerce, BGC Partners. He continued: "This demonstrates the strength and versatility of our client solutions."
John Burchenal, Global Head of Alliances & Partners, Traiana, commented, "We are delighted to welcome BGC to the Traiana CreditLink network to provide pre-trade credit checks for its customers. Traiana CreditLink is committed to ensuring both certainty of clearing and regulatory compliance for all market participants trading on SEFs."
CreditLink provides trading platforms, clearers/prime brokers, executing banks and buy-side firms the ability to monitor and manage pre- and post-trade credit in real-time across multiple trading venues in a consolidated view. CreditLink supports all trading models across FX, exchange traded derivatives, CDS and fixed income and serves hundreds of buyside, broker, prime-brokers and trading venues.
Traiana, Inc. (www.traiana.com) provides global banks, broker/dealers, buy-side firms and trading platforms with services to monitor pre- trade risk and automate post-trade processing of financial transactions in listed and over-the-counter trading markets. Traiana's solutions and the Harmony Network have become the market standard for post-trade processing of foreign exchange, exchange traded derivatives, fixed income, CDS and synthetic and cash equity transactions. Traiana, an ICAP company, is headquartered in New York City with offices in Chicago, Hong Kong, London, Singapore, Tel Aviv and Tokyo.
About BGC Partners, Inc.
BGC Partners is a leading global brokerage company servicing the financial and real estate markets. BGC's products include fixed income securities, interest rate swaps, foreign exchange, equities, equity derivatives, credit derivatives, commercial real estate, commodities, futures, and structured products. BGC also provides a wide 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. Through its BGC Trader and BGC Market Data brands, BGC offers financial technology solutions, market data, and analytics related to select financial instruments and markets. Through its NGKF brand, the Company offers a wide range of commercial real estate services including leasing and corporate advisory, investment sales and financial services, consulting, project and development management, and property and facilities management. BGC's customers include many of the world's largest banks, broker-dealers, investment banks, trading firms, hedge funds, governments, corporations, property owners, real estate developers, and investment firms. BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit www.bgcpartners.com.
BGC, BGC Trader, Grubb & Ellis, Grubb and Newmark are trademarks and service marks of BGC Partners, Inc. and its affiliates. Knight Frank is a service mark of Knight Frank Limited Corp., used with permission.
Discussion of Forward-Looking Statements by BGC Partners
Statements in this press release regarding BGC's 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's Securities and Exchange Commission filings, including, but not limited to, the risk factors set forth in the Company's public filings, including the most recent Form 10-K and any updates to such risk factors contained in subsequent Form 10-Q or Form 8-K filings.
SOURCE BGC Partners, Inc.