BGC Partners, Inc. introduces Fenics Global Options, an electronic trading platform for exchange listed futures and options in collaboration with industry leading liquidity providers Optiver, IMC and Maven Securities
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.
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