BGC Partners Wins Best Inter-dealer Broker at Waters Magazine’s Inaugural European Financial IT Awards
London, 18 November, 2009, BGC Partners, Inc. (Nasdaq: BGCP), one of the world’s leading inter-dealer brokers, announced today that it has won the Waters Magazine award for Best Interdealer Broker in the magazine’s inaugural European Financial IT Awards.
BGC Partners was recognized by Waters magazine for the strong performance of its fully electronic trading across multiple asset classes, supporting BGC’s acclaimed hybrid broking model. This success can be accredited to BGC’s continued investment in technology of over $100 million per year, including the development of new, proprietary technology and the ongoing addition of new products to its hybrid trading platform. In Europe this year BGC has added a number of products to BGC Trader including: US Dollar Sovereigns, UK Gilts, Asset Backed and Emerging Markets Credit Default Swaps.
BGC was also noted for its contribution to the recently launched ELX Futures exchange, for which BGC is the exclusive technology provider.
Philip Norton, Global Head of e-Commerce at BGC Partners said: “We’re delighted to have been selected by Waters for this prestigious award, in recognition of our commitment to technology as a key driver of our business. We have seen fully electronic trading revenues of new products such as FX and CDS treble over the past year. The global success of our proprietary technology is helping to drive up volumes by offering customers efficient order management and execution flexibility, alongside our world class voice brokerage business.”