Fenics GO named OTC Trading Platform of the Year
February 11, 2021 at 06:23 AM EST
LONDON, Feb. 11, 2021 /PRNewswire/ -- Fenics GO, a pioneering electronic trading platform operated by the Fenics division of BGC Partners, Inc. (NASDAQ: BGCP) ("BGC Partners," "BGC" or the "Company"), has been named the winner of the 2021 OTC Trading Platform of the Year award by Risk.net, the financial industry's leading publication for in-depth news and analysis on risk management, derivatives and regulation.
Fenics GO, the only multilateral electronic platform for block-sized options which ensures best-execution, offers full transparency of order flow as well as straight-through-processing to the exchange. It launched with Eurex listed Euro Stoxx 50 Index Options and related Delta 1 strategies in the third quarter of 2019 in collaboration with IMC, Maven Securities and Optiver.
In 2020, supported by additional global liquidity partners including Akuna Capital, Citadel Securities, Lighthouse Financial Technologies and Susquehanna, Fenics GO arranged around 4.5 million Euro Stoxx options with a notional value of over $80 billion. For Nikkei 225 options, launched in February 2020, over 320,000 options with a notional value of over $35 billion were arranged before launching Hang Seng China Enterprises Index options in December 2020.
Risk.net commented, "The platform's appeal stems in part from its ability to translate the voice trading process onto electronic systems. This best-of-both-worlds approach blends familiarity with new perks such as audit trails and easy processing for execution and clearing."
Jean Pierre Aubin, co-global head of brokerage at BGC Partners, commented, "We are honoured to receive the 2021 OTC Trading Platform of the Year award by Risk.net. This prestigious award is a testament to the investment we have made in our people and technology in delivering cutting-edge solutions to our clients."
The Risk.net award is the second win for Fenics GO within a three-month period. In December 2020, Fenics GO was named the Trading and Execution Solution of the Year in FOW's International Awards 2020.
Luke Jeffs, managing editor of Global Investor Group, said: "BGC has continued to demonstrate its credentials as a market-leading supplier of execution tools as well as a top inter-dealer broker. The Fenics GO service is a great example of a firm using technology to deliver transparency and efficiency, bringing some of the advantages of trading in the listed segment to a largely OTC market."
Fenics GO received the OTC Trading Platform of the Year award at the Risk Awards 2021 virtual ceremony in February 2021. The full report on Fenics GO's award can be downloaded at Risk.net
Fenics GO received the Trading and Execution Solution of the Year award at the FOW International Awards 2020 virtual ceremony in December 2020. The full report on Fenics GO's award can be downloaded at FOW International Awards 2020
About Fenics GO
Fenics is the brand through which the BGC Group offers fully electronic and associated hybrid transactions across all asset classes. Fenics GO specialises in the arrangement of block trades for global exchange listed options and delta 1 products. Capitalising on BGC's electronic trading heritage, its goal is to enhance the current voice brokerage model by offering a technologically advanced electronic platform connecting market participants and intermediaries directly. Fenics GO combines complementary trading protocols to enable the dynamic work-up of multiple trading interests anonymously. Its focus on transparency and the provision of diverse execution methods to initiate or join transactions, coupled with Fenics GO's leading-edge technology, creates a robust and reliable trading environment for all participants. With a commitment to low costs, fairness, transparency, and resiliency Fenics GO aims to be the premier OTC marketplace to source listed derivative block liquidity.
About BGC Partners, Inc.
BGC Partners is a leading global brokerage and financial technology company. BGC specializes in the brokerage of a broad range of products, including fixed income (rates and credit), foreign exchange, equities, energy and commodities, shipping, insurance, and futures. BGC also provides a wide variety of services, including trade execution, brokerage, clearing, trade compression, post-trade, information, and other back-office services to a broad range of financial and non-financial institutions. Through brands including Fenics, BGC Trader, Capitalab, Lucera, and Fenics Market Data, BGC offers financial technology solutions, market data, and analytics related to numerous financial instruments and markets. BGC, BGC Trader, GFI, Fenics, Fenics Market Data, Capitalab, and Lucera are trademarks/service marks and/or registered trademarks/service marks of BGC Partners, Inc. and/or its affiliates.
BGC's customers include many of the world's largest banks, broker-dealers, investment banks, trading firms, hedge funds, governments, corporations, and investment firms. BGC's Class A common stock trades on the NASDAQ Global Select Market under the ticker symbol "BGCP". BGC Partners is led by Chairman of the Board and Chief Executive Officer Howard W. Lutnick. For more information, please visit http://www.bgcpartners.com. You can also follow BGC at https://twitter.com/bgcpartners, https://www.linkedin.com/company/bgc-partners and/or http://ir.bgcpartners.com/Investors/default.aspx.
Discussion of Forward-Looking Statements about BGC
Statements in this document regarding BGC that are not historical facts are "forward-looking statements" that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the effects of the COVID-19 pandemic on the Company's business, results, financial position, liquidity and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, BGC undertakes no obligation to update 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 and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.
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