Thomson Reuters And BGC Partners Expand Post-Trade Offering To Fx Options
London – Thomson Reuters today announced that BGC Partners, a leading global interdealer broker, has expanded its post-trade offering over Thomson Reuters Trade Notification to include FX options.
Thomson Reuters Trade Notification enables straight-through processing (STP) for both voice-brokered and electronically-executed deals to help eliminate failed trades while providing real-time updates to position-keeping and risk management systems.
The expansion of Thomson Reuters Trade Notification, now includes interest rate swaps, cash bonds, FX spot, forwards, swaps, money market loans and deposits, and FX options. BGC Partners is one of the first to sign up to publish FX options messages extending its usage of Thomson Reuters Trade Notification to offer its customers value-added STP.
Philip Norton, Global Head of E Commerce, BGC Partners, commented; “As a leading broker in FX options, we are pleased to be part of the growing community using Thomson Reuters Trade Notification. This service has helped us to grow our business by providing value added, integrated post-trade connectivity.”
With increased trading volumes, more institutions are focusing on post-trade efficiency to reduce errors and costs. Thomson Reuters Trade Notification is a global platform offering a single connection to enable greater STP and operational efficiency. Additionally, Thomson Reuters state of the art infrastructure and dedicated 24x7 support network, provides a leading post-trade network for the financial marketplace.
Richard Kiel, Global Head of Post Trade Services, Thomson Reuters said; “We are delighted to bring improved operational efficiency to the market by working with BGC Partners. The expanded service now provides our existing FX customers and new clients with the ability to achieve STP for their FX options trade flow, to lower transaction costs by greatly reducing costly errors in the post trade processing cycle.”
Thomson Reuters is the world’s leading source of intelligent information for businesses and professionals. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial, legal, tax and accounting, healthcare and science and media markets, powered by the world’s most trusted news organization. With headquarters in New York and major operations in London and Eagan, Minnesota, Thomson Reuters employs more than 50,000 people and operates in over 100 countries. For more information, go to www.thomsonreuters.com.
About BGC Partners, Inc
BGC Partners, Inc. (Nasdaq: BGCP) is a leading global intermediary to the wholesale financial markets, specializing in the brokering of a broad range of financial instruments. BGC’s proprietary technology operates multiple real-time electronic marketplaces for the world’s capital markets. Its customers include many of the world’s largest banks, broker-dealers, investment banks, trading firms, hedge funds, governments and investment firms. Named after financial markets innovator B. Gerald Cantor, BGC has 18 offices worldwide. For more information, visit www.bgcpartners.com.
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