BGC Partners, Inc. (Nasdaq:BGCP), one of the world’s leading inter-dealer brokers, today announced the global expansion of its daily swap fixing pages where additional countries in Central and Eastern Europe, Russia and Asia Pacific have been formally recognised as official price references under ISDA® (International Swaps and Derivatives Association) documentation.
This builds on the firm’s existing status in US Dollar, Euro, Singapore Dollar and Hong Kong Dollar ISDA fixing pages and reinforces BGC Partners’ position as a leading global provider of real-time and daily fixing information to primary dealers, investment banks and end users.
BGC Partners announced in August 2008 the acceptance of its Euro interest rate swap and US Dollar interest rate swap pages by ISDA and in October 2008 announced the publication of its US Dollar overnight index swap (OIS) and Euro overnight index average (EONIA) pages as price references by ISDA.
As of Monday, 3 August, BGC Partners, via the BGCantor Market Data service, will also provide ISDA defined fixings for swap and non-deliverable swaps transactions executed in Chinese Renminbi, Czech Koruna, Indian Rupee, Indonesian Rupiah, Philippine Peso, Romanian Leu, Russian Ruble, Taiwanese Dollar, Thai Baht, Turkish Lira and Vietnamese Dong.
Philip Norton, Executive Managing Director and global head of e-Commerce noted, “As the global market expands the need for the provision of accurate pricing information increases. We look forward to working with ISDA in continuing to provide reliable marketplace data to our valued clients as well as to the wider marketplace.”
Len Harvey, Executive Managing Director and General Manager, BGC Partners, Asia-Pacific added, “ISDA documentation governs the terms to confirm, mark, assign and terminate derivative transactions between counterparts. The pages will be snapshots of real-time BGC screens taken at a pre-determined time daily.”