Last week, Thomson Reuters and BGC Partners, Inc. (NASDAQ: BGCP) announced a strategic agreement with BGC providing access to its over-the-counter (OTC) pricing data. The various solutions through which the new data flow are available are through Thomson Reuters Eikon, Thomson Reuters Elektron Real Time, Tick History and DataScope Select, with its own delivery mechanism supported by Thomson Reuters.
BGC’s Executive Managing Director & Global Head of BGC Partners’ Market Data Group, Mark Benfield, has confirmed to Forex Magnates that should a client choose, the data can be delivered via BGC’s real-time trading platform or via FTP. He stated, “Receiving BGC data either through Thomson Reuters or direct from BGC, can be covered under one contract with Thomson Reuters.”
As part of the company’s growing business, the firm’s FX offering provides global coverage of core and emerging markets forwards and non-deliverable forwards (NDFs). FX options listings include at-the-money (ATM) options, 10% and 25% Delta Risk Reversals and Butterflies
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Further partnerships might be around the corner, as according to Mr. Benfield, “BGC Market Data is actively working with other data and software vendors to forge or enhance partnerships, like the one with Thomson Reuters. In current market conditions, where new and flexible ways of delivering value are expected, and regulations drive new requirements, BGC is active on many fronts and with many current and potential partners to build out new data products and packaging.”
Aside from BGC’s FX offerings, Thomson Reuters Eikon and Elektron customers will benefit from access to global fixed income, global interest rate swaps and options, covering developed and emerging markets and global credit derivative markets.
Thomson Reuters Eikon and Elektron customers will also gain access to BGC’s Specialist Data Services. Mr. Benfield elaborated on the offering as being an additional set of information, saying, “An extended set of OTC data will be provided as most of the BGC OTC data is available on Thomson Reuters Eikon free of charge, but in some cases, asset specific coverage will be bundled as a Specialist package, requiring licensing for desktop viewing as well as for application usage. Thomson Reuters currently carries three BGC OTC Specialist Data services, Swapsight, Swapsight with Skews, and European Government Bonds.”
The data provided to Thomson Reuters’ customers consists of prices sourced directly from BGC Partners’ global broking operations, be they electronic, voice or hybrid.