Eleven Additional Currencies Formally Recognised as Official Price References By ISDA
LONDON, 18 August 2009 – BGC Partners, Inc. (Nasdaq:BGCP), one of the world’s leading inter-dealer brokers, today announced the global expansion of its daily swap fixing pages where additional countries in Central and Eastern Europe, Russia and Asia Pacific have been formally recognised as official price references under ISDA® (International Swaps and Derivatives Association) documentation.
This builds on the firm’s existing status in US Dollar, Euro, Singapore Dollar and Hong Kong Dollar ISDA fixing pages and reinforces BGC Partners’ position as a leading global provider of real-time and daily fixing information to primary dealers, investment banks and end users.
BGC Partners announced in August 2008 the acceptance of its Euro interest rate swap and US Dollar interest rate swap pages by ISDA and in October 2008 announced the publication of its US Dollar overnight index swap (OIS) and Euro overnight index average (EONIA) pages as price references by ISDA.
As of Monday, 3 August, BGC Partners, via the BGCantor Market Data service, will also provide ISDA defined fixings for swap and non-deliverable swaps transactions executed in Chinese Renminbi, Czech Koruna, Indian Rupee, Indonesian Rupiah, Philippine Peso, Romanian Leu, Russian Ruble, Taiwanese Dollar, Thai Baht, Turkish Lira and Vietnamese Dong.
Philip Norton, Executive Managing Director and global head of e-Commerce noted, “As the global market expands the need for the provision of accurate pricing information increases. We look forward to working with ISDA in continuing to provide reliable marketplace data to our valued clients as well as to the wider marketplace.”
Len Harvey, Executive Managing Director and General Manager, BGC Partners, Asia-Pacific added, “ISDA documentation governs the terms to confirm, mark, assign and terminate derivative transactions between counterparts. The pages will be snapshots of real-time BGC screens taken at a pre-determined time daily.”
Notes to Editors
For further information:
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Media
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Florencia Panizza, +1 212 294 7938
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Florencia Panizza
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About BGC Partners, Inc.
BGC Partners is a leading global intermediary to the wholesale financial markets, specializing in the brokering of a broad range of financial products, including fixed income securities, interest rate swaps, foreign exchange, equities, equity derivatives, credit derivatives, commodities, futures, structured products and other instruments. BGC Partners also provides a full range of services, including trade execution, broker-dealer services, clearing, processing, information, and other back office services to a broad range of financial and non-financial institutions. BGC Partners’ integrated platform is designed to provide flexibility to customers with regard to price discovery, execution and processing of transactions, and enables them to use voice, screen-assisted, voice-assisted or, where available, fully electronic brokerage services in connection with transactions executed either OTC or through an exchange.
Through its eSpeed and BGC Trader brands, BGC Partners uses its proprietary, built, and paid for technology to operate multiple buyer, multiple seller real-time electronic marketplaces for the world’s most liquid capital markets. The Company’s pioneering suite of tools provides end-to-end transaction solutions for the purchase and sale of financial products over its global private network or via the Internet. BGC Partners’ neutral platform, reliable network, straight-through processing and superior products make it the trusted source for electronic trading for the world’s largest financial firms. Through its BGCantor Market Data brand, the Company also offers globally distributed and innovative market data and analysis products for numerous financial instruments and markets. BGC Partners’ customers include many of the world’s largest banks, broker-dealers, investment banks, trading firms, hedge funds, governments and investment firms.
BGC’s unique partnership structure and extensive employee ownership create a distinctive competitive advantage among its peers. Named after fixed income trading innovator B. Gerald Cantor, BGC Partners has 18 offices in New York and London, as well as in Beijing (representative office), Chicago, Copenhagen, Hong Kong, Istanbul, Johannesburg, Mexico City, Nyon, Paris, Rio de Janeiro, São Paulo, Seoul, Singapore, Sydney, Tokyo and Toronto. For more information, visit https://bgcpartnersprd.wpengine.com. The Company’s corporate address is: BGC Partners, Inc., 499 Park Avenue, New York, New York 10022. The media, analysts, and investors can also subscribe to BGC Partners’ investor “Email Alerts” at the “Investor Relations” section ofhttps://bgcpartnersprd.wpengine.com