BGC Partners’ subsidiary BGC Derivative Markets has launched operations as a swap execution facility (SEF), consistent with the derivatives trading regulations under the Dodd-Frank Act.
"Today marks an important milestone as we enter a new era of derivatives transactions," says Shaun D Lynn, president of BGC. "After extensive preparations for this day we are excited to offer our clients the opportunity to trade regulated swaps through BGC's swap execution facility."
BGC's technology infrastructure includes fully-compliant execution methodologies such as anonymous central limit order book (CLOB), name disclosed request for quote (RFQ) system, intra-day electronic auctions, indications of interest, and voice managed orders for blocks and non-blocks.
Market participants will be able to use BGC's platform to segregate US person/non-US person transactions on both a graphical user interface (GUI) and application programming interface (API) via instrument choice and contra-counterparty filtering.