“The market is evolving. Tier one banks are now making their trading APIs more widely available to clients for FX options. Participants are recognising the benefits to white labelling external liquidity, allowing them to provide a full bureau service to their clients with broad currency pair and product coverage.”
BGC Partners (HK) Securities LLC, a subsidiary of BGC Partners, Inc., has arranged an intermediated block trade of CME Group Bitcoin options contracts in Asia, in what appears to be the first ever of its kind.
This quarter, the company will begin to work with regulators, lenders, and rating agencies regarding any possible conversion.
Due to weaker industry volumes across rates and FX, BGC’s revenues for the second quarter of 2020 are now expected to be slightly below the low-end of the range of its previously stated outlook.
If the company determines to execute such a conversion, it would be subject to the approval of the Board of Directors and relevant committees.
March has been highly volatile, with significant volumes across numerous global instruments, BGC says.
The current target is to be positioned to begin executing a conversion around the end of the third quarter of 2020.
Mr Bisgay will replace Sean A. Windeatt, who was Interim CFO.
The revised guidance reflects a backdrop of generally lower industry volumes.
FENICS Market Data is becoming the sole international commercial agent for CCT-BGC’s market leading onshore Chinese data, covering the Fixed Income, Interest Rate and Foreign Exchange markets.
BGC Group announced that its exchange platform, FMX Futures, is now valued at $667 million after receiving investments from a notable consortium of financial institutions.
“Delivering our unique datasets through a best-in-class data management tool such as ZEMA allows businesses to reduce manual intervention through enhanced data accuracy and consistency. This leads to faster trade execution and risk assessment while improving risk mitigation and reporting capabilities, benefiting all counterparties involved in the trade cycle.”
BGC has launched FMX, a marketplace for fully electronic trading and execution across U.S. Rates Cash and Futures, with clearing being provided by LCH.
ASIC found that David Moore was charging unpermitted spreads on transactions entered on behalf of a number of accounts of clients referred to BGC by a referring broker.
The fine stems from BGC Financial’s transaction reporting failures which occurred from November 2, 2015 through September 27, 2017.
The aim is to ensure that BGC has adequate arrangements in place to comply with obligations related to its fixed income solutions business.
As part of the partnership, BNL will start implementing Tink’s solutions for account aggregation, payment initiation and personal finance management.
The Swaptioniser portfolio compression service has successfully executed the first combined compression cycle in Swaptions, Caps, Floors and LCH cleared interest rate Swaps and Forward Rate Agreements.
Chicago-based Trading Technologies has just hired former BGC’s executive and Bloomberg veteran Gavin Miller as its newest director of EMEA sales within TT’s fixed income division.
