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BGC Partners launches fully electronic dollar interest rate options

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BGC Partners, an intermediary to the wholesale financial markets, has executed its first fully electronic dollar interest rate option trade.

The transaction was carried out using the Volume Match tool on BGC’s proprietary, hybrid execution platform, BGC Trader.

The BGC Trader platform offers customers the option of voice or electronic execution for over 50 BGC products across rates, credit, equity, commodity and foreign exchange products globally.

Volume Match is an auction-style tool that enables fully-electronic transaction of asset classes including credit default swaps, foreign exchange options and European interest rate swaps.

Rob Sutton, managing director, global head of USD IRS and head of IRO, North America, says: “BGC’s leading voice franchise is supported by our world-class technology platform and we have seen the significant success of Volume Match across a range of products since its launch in 2009. By offering our customers the option of transacting dollar IROs electronically via Volume Match we will further increase our global liquidity pool and electronic presence within the rates market.”

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