London and Singapore, 20 September 2011 – BGC Partners, Inc. (NASDAQ: BGCP), (“BGC Partners” or “BGC”), a leading global brokerage company servicing the wholesale financial markets, announces its first fully electronic Thai Baht 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.
Philip Norton, Executive Managing Director and Global Head of e-Commerce, said: “Thai Baht IRS is the latest addition to a suite of fully electronic Interest Rate Derivative products 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.”
Len Harvey, Executive Managing Director and General Manager, Asia Pacific, commented: “We are very pleased to continue the roll-out of Volume Match in the Asia Pacific region, following the launch of fully electronic Australian Dollar IRS in February and Singapore Dollar IRS in October last year. The addition of Thai Baht IRS reflects the growing demand for electronic trading across new products in the region and we intend to add further products as client demand continues.”
Max Rozario, Head of Thai Baht at BGC in Singapore added: “We are encouraged by the increasing interest show by our Thai Baht IRS customers and their initial feedback has confirmed our belief in Volume Match’s potential as an effective execution tool in this market.”