Thomson Reuters and BGC Partners, a leading global interdealer broker, announced today that BGC Partners has expanded its post-trade offering over Thomson Reuters Trade Notification (formerly Reuters Trade Notification Service) to include FX options. Thomson Reuters Trade Notification enables straight-through processing for both voice-brokered and electronically-executed deals to help eliminate failed trades while providing real-time updates to position-keeping and risk management systems.
The expansion of Thomson Reuters Trade Notification now includes interest rate swaps, cash bonds, FX spot, forwards, swaps, money market loans and deposits, and FX options. BGC Partners has been one of the first to sign up to publish FX options messages extending its usage of Thomson Reuters Trade Notification providing its customers with the value-added service of STP.
Philip Norton, Global Head of E Commerce, BGC Partners, commented: “As a leading broker in the FX options space, we are pleased to be part of the growing community using Thomson Reuters Trade Notification. This service has enabled us to grow our business by providing value added, integrated post-trade connectivity.”
With increased volumes of trades, more institutions are focusing on post-trade efficiency to reduce errors and costs. Thomson Reuters Trade Notification is a global platform offering a single connection to enable greater STP and operational efficiency. Additionally, Thomson Reuters state of the art infrastructure and dedicated 24×6.5 support network, provides a leading post-trade network for the financial marketplace.
Richard Kiel, Global Head of Post Trade Services, Thomson Reuters said: “We are delighted to be facilitating improved operational efficiency to the market by working with a leading, global organization such as BGC Partners. We have been working with BGC Partners for several years and the expanded service now enables our existing FX customers as well as new clients with the ability to achieve STP for their FX options trade flow lowering transaction costs by greatly reducing costly errors in the post trade processing cycle.”