BGC Expands Asia Offering with Yen Interest Rate Swaps

BGC Partners Inc. (NASDAQ: BGCP) announced on Monday its launch of BGC Trader for yen interest rate Swaps Swaps Swaps can be defined as a derivate contact composed of two parties that exchange to cash flow between two separate financial instruments.They are generally divided into two categories. This includes contingent claims (options) and forward claims, where forward contracts, swaps, and exchange-traded funds (ETFs) are exchanged. Commodity price, equity price, interest rate, and foreign exchange rate are common variables used as one of the cash flows in swaps upon initiation. Different Types of Swaps Swaps can be defined as a derivate contact composed of two parties that exchange to cash flow between two separate financial instruments.They are generally divided into two categories. This includes contingent claims (options) and forward claims, where forward contracts, swaps, and exchange-traded funds (ETFs) are exchanged. Commodity price, equity price, interest rate, and foreign exchange rate are common variables used as one of the cash flows in swaps upon initiation. Different Types of Swaps Read this Term (IRS). BGC, an international brokerage company specializing in financial and real estate markets, is now the first interdealer broker to launch a fully electronic platform for the yen IRS market, according to a press release issued by the company.

The announcement follows the company’s press release last Thursday announcing that it launched BGC Trader for the Indian rupee non-deliverable forward market (INR NDF) in November. Since the launch of their platform for INR NDF the company has “seen strong interest” across its SEF and off-SEF platforms.

These offerings build on BGC Trader, BGC’s proprietary, multi-asset, integrated voice and electronic price Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term platform. BGC claims to have leveraged this platform to become the first interdealer broker “providing rapid and efficient price discovery, order management and execution” for customers looking to access the yen IRS and INR NDF markets.

As part of the Yen IRS launch the company hired and trained a team of five traditional voice brokers, said Executive Managing Director and Global Head of e-Commerce Philip Norton. He added, “We will continue to increase our electronic offering in new product areas where there is client demand and stay at the forefront of electronic trade execution.”

These announcements (one peculiarly at least two months after the offering was launched) come at a time when BGC is aggressively pursuing the acquisition of GFI Group, a pursuit whose advances have so far gone largely unreciprocated. According to BGC, 43.3% of GFI’s stockholders currently favour accepting the tender-offer, and 70% of shares not owned by executives or directors represent positions in favour of the transaction as well. This illustrates the opposition harboured by GFI Group’s management to the deal—whereby they would ultimately lose control of the business.