Business
Fenics GO named OTC Trading Platform of the Year
LONDON, Feb. 11, 2021 /PRNewswire/ -- Fenics GO, a pioneering electronic trading platform operated by the Fenics division of BGC Partners, Inc. (NASDAQ: BGCP)
About this update from Bgc Group, Inc.
[{"type":"text","content":"LONDON, Feb. 11, 2021 /PRNewswire/ -- Fenics GO, a pioneering electronic trading platform operated by the Fenics division of BGC Partners, Inc. (NASDAQ: BGCP) (\"BGC Partners,\" \"BGC\" or the \"Company\"), has been named the winner of the 2021 OTC Trading Platform of the Year award by Risk.net, the financial industry's leading publication for in-depth news and analysis on risk management, derivatives and regulation.\nFenics GO, the only multilateral electronic platform for block-sized options which ensures best-execution, offers full transparency of order flow as well as straight-through-processing to the exchange. It launched with Eurex listed Euro Stoxx 50 Index Options and related Delta 1 strategies in the third quarter of 2019 in collaboration with IMC, Maven Securities and Optiver. \nIn 2020, supported by additional global liquidity partners including Akuna Capital, Citadel Securities, Lighthouse Financial Technologies and Susquehanna, Fenics GO arranged around 4.5 million Euro Stoxx options with a notional value of over $80 billion. For Nikkei 225 options, launched in February 2020, over 320,000 options with a notional value of over $35 billion were arranged before launching Hang Seng China Enterprises Index options in December 2020.\nRisk.net commented, \"The platform's appeal stems in part from its ability to translate the voice trading process onto electronic systems. This best-of-both-worlds approach blends familiarity with new perks such as audit trails and easy processing for execution and clearing.\"\nJean Pierre Aubin, co-global head of brokerage at BGC Partners, commented, \"We are honoured to receive the 2021 OTC Trading Platform of the Year award by Risk.net. This prestigious award is a testament to the investment we have made in our people and technology in delivering cutting-edge solutions to our clients.\"\nThe Risk.net award is the second win for Fenics GO within a three-month period. In December 2020, Fenics GO was named the Trading and Execution Solution of the Year in FOW's International Awards 2020.\nLuke Jeffs, managing editor of Global Investor Group, said: \"BGC has continued to demonstrate its credentials as a market-leading supplier of execution tools as well as a top inter-dealer broker. The Fenics GO service is a great example of a firm using technology to deliver transparency and efficiency, bri...