Launched in November 2014 BGC became the first interdealer broker to offer an electronic trading platform for NDF Indian Rupee future based instruments, available on BGC's SEF and off-SEF
LONDON, Feb. 5, 2015 /PRNewswire/ -- BGC Partners, Inc. (NASDAQ: BGCP) ("BGC Partners," "BGC," or "the Company"), a leading global brokerage company servicing the financial and real estate markets, today announced that it launched BGC Trader for the Indian Rupee non-deliverable forward ("INR NDF") market in November 2014. Since its launch BGC has seen strong interest in INR NDF trading across its SEF and off-SEF platforms.
"BGC became the first interdealer broker to launch an electronic trading solution for NDF Indian Rupee future based instruments in November last year, demonstrating our commitment to staying ahead of the curve to best serve our customers," commented Philip Norton, Executive Managing Director, Global Head of e-Commerce, BGC Partners. He continued: "We are encouraged by trading volumes and customer feedback which has been overwhelmingly positive. This reinforces our belief that BGC Trader is one of the most sophisticated and effective execution tools in the market."
BGC Trader is a proprietary multi-asset, integrated voice and electronic price execution platform. By leveraging BGC's existing global technology and applying it to the INR NDF market BGC became the first interdealer broker to introduce rapid and efficient price discovery, order management and execution for customers seeking access to this rapidly growing market. BGC offers its customers the ability to roll their future exposure into the liquid NDF one month market via a Basis Swap Instrument. These instruments are available to trade on BGC's SEF as well as off-SEF.
About BGC Partners, Inc.
BGC Partners is a leading global brokerage company servicing the financial and real estate markets. Products include fixed income securities, interest rate swaps, foreign exchange, equities, equity derivatives, credit derivatives, commercial real estate, commodities, futures, and structured products. BGC also provides a wide 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. Through its BGC Trader and BGC Market Data brands, BGC offers financial technology solutions, market data, and analytics related to numerous financial instruments and markets. Through the Newmark Grubb Knight Frank brand, BGC offers a wide range of commercial real estate services including leasing and corporate advisory, investment sales and financial services, consulting, project and development management, and property and facilities management. BGC's customers include many of the world's largest banks, broker-dealers, investment banks, trading firms, hedge funds, governments, corporations, property owners, real estate developers, and investment firms. BGC's common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit http://www.bgcpartners.com.
BGC, BGC Trader, Newmark, Grubb & Ellis, and Grubb are trademarks and service marks of BGC Partners, Inc. and/or its affiliates. Knight Frank is a service mark of Knight Frank (Nominees) Limited.
Discussion of Forward-Looking Statements by BGC Partners
Statements in this document regarding BGC Partners' business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. Except as required by law, BGC undertakes no obligation to release any revisions to any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see BGC's Securities and Exchange Commission filings, including, but not limited to, the risk factors set forth in our public filings, including our most recent Form 10-K and any updates to such risk factors contained in subsequent Form 10-Q or Form 8-K filings.
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SOURCE BGC Partners, Inc.
For further information: Media: Hannah Sloane, 212-294-7938, or Sarah Laufer, 212-915-1008, or Investors: Jason McGruder, 212-829-4988, Jason Chryssicas, 212-915-1987, http://www.bgcpartners.com