Institutional investors are about to get a new source of value data on the Chinese market. BGC’s market data arm, FENICS, will offer its customers access to Chinese market figures.
The company signed a distribution partnership with China Credit BGC Money Broking Company Limited, which is co-owned by BGC Partners. The company is licensed by the China Banking Regulatory Commission (CBRC) in Beijing with a money-broking permit. The firm is operating as an inter-dealer broker offering interest rate swaps, bonds and other instruments.
Global clients of BGC Partners, which include broker dealers, banks, hedge funds and trading firms, will receive exclusive access to CCT-BGC’s data products.
With the deal, FENICS Market Data will be the only internationally acclaimed commercial agent for the solution. The data includes fixed income, interest rates and FX markets.
Commenting on the deal, the Global Head of Sales at FENICS Market Data, Elliott Hann, said: “FENICS Market Data is very pleased to add CCT-BGC data to our already extensive Asian market coverage. Our agreement with CCT-BGC will be mutually beneficial, as we expand the reach of CCT-BGC’s data worldwide, while also building out the data content of BGC’s portfolio.”
FENICS Market Data is one of the world’s leading specialist providers of real-time, tradable, indicative, end-of-day and historical OTC market data. Data is sourced directly from global broking operations including electronic broking, global pricing systems and analytics to provide clients with specialized, independent and verifiable OTC pricing services.
After the acquisition, BGC Partners consolidated a number of its electronic trading platforms within FENICS. The company’s financial technology solutions on market data and analytics related to a variety of markets also include BGC Trader, Capitalab, and BGC Market Data.