BGC Partners Joins Cadre of SEF Applicants
BGC Partners, a part of New York-based brokerage firm Cantor Fitzgerald, intends to provide swaps participants an anonymous central limit order book (CLOB), disclosed request-for-quote (RFQ), auctions, indications of interest, and voice managed order for block or non-block trades. Clients will also be able to segregate US and non-US person transactions via graphical user interface (GUI) and application programming interface (API), and do so according to instrument choice and through contra-counterparty filtering.
"BGC has been consistently rigorous in ensuring that its technology and infrastructure remain fully compliant with the latest regulatory requirements. We believe market participants will benefit from BGC's technology, which promotes greater access to liquidity, efficiency, and improved transparency for customers trading by electronic, voice, or hybrid means," says Phil Norton, executive managing director for e-Commerce at BGC.
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