LONDON, Nov. 14, 2022 /PRNewswire/ -- Fenics GO, operated by the Fenics division of BGC Partners, Inc. (NASDAQ: BGCP) ("BGC Partners," "BGC" or the "Company"), is delighted to have been named the OTC Trading Platform of the Year by Risk.net at the Asia Risk Awards 2022.
In February 2022, Fenics GO launched MSCI Asian Indices on Eurex and by the end of the third quarter $40 billion has traded on the platform. The addition of Futures Cash Close trading in June 2022, to the existing ability to trade quarterly rolls, positioned Fenics GO as number one ranked interdealer broker in MSCI Hong Kong and MSCI Singapore on Eurex and top three by market share in eleven markets1.
The Korea Composite Stock Price Index ("KOSPI") and Hang Seng China Enterprises Index ("HSCEI") Options on Futures trading have also seen significant growth in the third quarter with record volumes, supported by nine liquidity providers now actively trading on Fenics GO.
Jean-Pierre Aubin, Co-Global Head of BGC Group Brokerage and CEO of Fenics GO, said "We are delighted with the significant growth in volumes, products, new participants, and market share that Fenics GO is achieving in Asia and the industry recognition that this is resulting in. We are seeing record volumes in MSCI Futures, KOSPI and HSCEI Options on Futures, with more banks trading these products and more liquidity providers actively trading on Fenics GO directly."
Risk.net commented, "As the only electronic platform serving the interdealer market for large-sized equity index option trades, BGC's Fenics GO finds itself in a fortuitous position, and has gradually been extending its reach into Asia with the introduction of a range of new products serving popular Asian underlyings."
The full report on Fenics GO's award can be downloaded at Risk.net.
Fenics GO specializes in the arrangement of block trades for global exchange listed options and delta 1 products. Capitalizing 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.
BGC Partners, Inc. ("BGC") is a leading global brokerage and financial technology company. BGC, through its various affiliates, specializes in the brokerage of a broad range of products, including Fixed Income (Rates and Credit), Foreign Exchange, Equities, Energy and Commodities, Shipping, and Futures. BGC, through its various affiliates, 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 its brands, including FMX™, Fenics®, Fenics Market Data™, Fenics GO™, BGC®, BGC Trader™, Capitalab®, and Lucera®, BGC offers financial technology solutions, market data, and analytics related to numerous financial instruments and markets. BGC, BGC Trader, GFI, Fenics, FMX, Fenics Market Data, kACE2, Fenics GO, Capitalab, and Lucera are trademarks/service marks and/or registered trademarks/service marks of BGC 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 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.
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.
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1 Eurex GFI MSCI Ranking Report September 2022