BGC Partners, a global intermediary to the wholesale financial markets, has completed its first fully electronic UK Sterling Interest Rate Swap (IRS) trade using BGC’s award-winning Volume Match tool on the BGC Trader platform.
Volume Match is integrated into BGC’s proprietary platform, BGC Trader and, at pre-set times during the day, offers customers auction-style electronic trading across a wide range of asset classes including credit default swaps, foreign exchange options, precious metals and interest rate swaps.
Phil Norton, Executive Managing Director and Global Head of e-Commerce, says: “The launch of our fully electronic Sterling IRS capability follows the addition last week of Australian Dollar IRS, and reflects the continuation of our strategy to support BGC’s strong voice franchises with the BGC Trader and Volume Match technologies. By offering our clients a choice between fully electronic or broker-managed execution, we are providing them with the flexibility to trade according to their preference. We now offer complete end to end electronic execution across 75 out of approximately 200 BGC products, and intend to add further products as client demand continues.”
Peter Kilford, Head of Sterling Swaps at BGC Partners in London says: “Sterling IRS is the latest addition to a large suite of fully electronic Interest Rate Derivative products. The recent launch of Sterling IRS reflects the growing demand for electronic trading and we believe that our e-trading capability will enhance BGC’s presence in the Sterling market place.”
