LONDON, Oct. 2, 2019 /PRNewswire/ -- Fenics Market Data ("Fenics MD"), a division within BGC Partners, Inc. (NASDAQ: BGCP) ("BGC Partners," "BGC" or the "Company"), today announced the launch of its US dollar data service, FENICSMD 20/20, a premium service that combines the precision pricing of Fenics USTreasuries ("Fenics UST") with real-time interest rate swaps data from BGC, as well as US Treasuries implied spreads to SOFR.
This collaboration between Fenics UST and BGC delivers increased transparency and accuracy in the bond and derivatives markets offering a comprehensive, single source of high quality data for issuers, traders, middle and back office functions.
With the impending move from LIBOR to SOFR, and with increased liquidity starting to form in the latter, there is a gap in the market that Fenics MD fills by providing clients with the Treasury spreads to the SOFR curve.
Matt Woodhams, Senior Managing Director, Fenics MD, commented, "The inclusion of US Treasuries data within Fenics MD further strengthens our position as one of the leading providers of market data. Fenics UST has already demonstrated tangible cost savings to traders on the platform by offering price increments of 1/16th of a 32nd when the tightest public tick-size elsewhere in the market is 1/8th of a 32nd. We believe we will be able to demonstrate similar cost savings to our market data clients over their incumbent UST services."
This data is available through a direct feed from Fenics MD, or through its distribution partners.
About Fenics Market Data
Fenics Market Data (Fenics MD) is a leading provider and generator of global financial and commodities market data. Fenics MD is a division within BGC Partners, Inc. (NASDAQ:BGCP) and the distributor of data for the BGC group of companies, including BGC, GFI, RP Martin, Freedom, Amerex, Aurel BGC, Sunrise, BGC Liquidez and Perimeter Markets, as well as our flagship Fenics MD packages. Data is sourced directly from the global broking operations of BGC Partners and its subsidiaries, including electronic and voice broking, global pricing systems and analytics, with enhanced coverage through Fenics MD proprietary data packages. Fenics MD contracts for its services via the BGC UK subsidiary Fenics Software Limited.
About Fenics USTreasuries
Fenics USTreasuries ("Fenics UST") is a fully electronic U.S. Government securities trading venue owned and operated by BGC Financial, L.P., a FINRA registered broker-dealer, and counterparty to all transactions. Fenics UST's Central Limit Order Book and directed liquidity protocols enable participants - banks, broker-dealers, professional trading firms and institutional investors – to trade quickly and anonymously at the best possible prices.
Fenics UST delivers the transparency and familiar ease of execution in futures markets, combined with clearly visible depth of liquidity, calibrated to the tightest tick increment in the world for electronic US Treasury trading.
Fenics UST has revolutionized institutional investors' access to electronic UST liquidity in block size. Prices are streamed fully firm for guaranteed sizes, actionable 23 hours a day.
Fenics UST was designed to be the fastest, most stable, and most reliable ultra-low latency matching engine in the cash UST marketplace. All forms of electronic connectivity are supported, ensuring a straightforward integration process for all new participants to the platform.
About BGC Partners, Inc.
BGC Partners is a leading global brokerage and financial technology company. BGC's offerings include fixed income securities, interest rate swaps, foreign exchange, equities, equity derivatives, credit derivatives, commodities, futures, and structured products. BGC provides a wide range of services, including trade execution, broker-dealer services, clearing, trade compression, post trade, information, and other services to a broad range of financial and non-financial institutions. Through brands including Fenics, BGC Trader, Capitalab, Lucera, and Fenics Market Data, BGC offers financial technology solutions, market data, and analytics related to numerous financial instruments and markets. BGC, BGC Trader, GFI, Fenics, Fenics Market Data, Capitalab, and Lucera are trademarks/service marks and/or registered trademarks/service marks of BGC Partners, Inc. and/or its affiliates.
BGC's customers include many of the world's largest banks, broker-dealers, investment banks, trading firms, hedge funds, governments, corporations, and investment firms. BGC's Class A common stock trades on the NASDAQ Global Select Market under the ticker symbol "BGCP". BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit http://www.bgcpartners.com. You can also follow BGC at https://twitter.com/bgcpartners, https://www.linkedin.com/company/bgc-partners and/or http://ir.bgcpartners.com/Investors/default.aspx.
Discussion of Forward-Looking Statements about BGC
Statements in this document regarding BGC that are not historical facts are "forward-looking statements" that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. Except as required by law, BGC undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see BGC's Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.
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Ujjal Basu Roy