BGC Group has launched a fully electronic platform for U.S. dollar swaps, which the brokerage says will improve speed and transparency for institutional investors.
Expanding Digital Access to Swaps
Dubbed Opti Match, the new platform is available through BGC Derivatives Markets, L.P. Investors can access it directly if they are Swap Execution Facility (SEF) participants, or indirectly via BGC or GFI brokers. The platform will initially cover several interest rate products, including SOFR-based trades and CME/LCH switches.
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Charles Veneziano, Head of Rates at BGC Group, said the launch reflects the firm’s strategy to give clients a choice. “We are focused on providing our clients with the flexibility to trade fully electronic, hybrid, or voice, ensuring seamless connectivity and efficiency across every execution style,” he said.
BGC has assigned Briana Grazioso, Director of eSales, the task of leading Opti Match. She will oversee its strategy, development, and client adoption.
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Bradley Barclay, a senior broker with more than a decade of experience in U.S. interest rate swaps, will reportedly join her. Barclay, who previously worked at TP ICAP, will focus on expanding the new platform and report to Veneziano.
Part of a Bigger Push
The launch comes as financial firms increasingly shift swaps and rates trading into electronic venues. Institutions face growing demands for efficiency and transparency, and firms like BGC see digital platforms as a way to meet both.
Opti Match also fits into BGC’s broader plan to grow across markets. Alongside swaps, the group operates in futures, foreign exchange, and U.S. cash treasuries. With Opti Match, BGC signals that electronic execution will play a larger role in its future.
In May, BGC Group repurchased more than 16.4 million of its shares in a transaction tied to Chairman and CEO Howard Lutnick’s U.S. government ethics agreement. The deal was structured to unwind Lutnick’s personal holdings and eliminate potential conflicts of interest related to his public service role.
Separately, the company mentioned that Lutnick was preparing to transfer his remaining ownership in Cantor Fitzgerald to family trusts. Lutnick, the company’s longtime Chairman and CEO, has stepped down after being confirmed by the Senate as the 41st U.S. Secretary of Commerce.
