BGC Partners Wins Asia Risk Award for Technology Development
HONG KONG & SINGAPORE--(BUSINESS WIRE)--BGC Partners, Inc. (Nasdaq: BGCP), one of the world’s leading inter-dealer brokers, announced today that it has won Asia Risk Magazine’s inaugural award for Technology Development, in their annual awards announced this week.
In the write up for the magazine, the company’s BGC Trader application was praised for providing electronic functionality that facilitated trade in the global markets in difficult market conditions, as part of BGC’s hybrid business model. The magazine recognised BGC’s Volume Match as a significant technological development for enabling efficient execution in an environment where markets lacked liquidity.
Philip Norton, global head of E Commerce at BGC Partners said: “The involvement of BGC’s brokers and their clients, in providing guidance and feedback throughout the development process of this functionality, has enabled us to create a product that enhances the hybrid service that BGC provides across multiple asset-classes.”
He continued: “BGC’s ability to benefit other businesses, such as EM and G10 FX Options and Emerging Markets CDS, through deploying functionality that was initially developed for a single market is a key competitive advantage and this scalability justifies our continued investment in technology.”
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