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Fenics GO named OTC Trading Platform of the Year 2022
LONDON, Nov. 14, 2022 /PRNewswire/ -- Fenics GO, operated by the Fenics division of BGC Partners, Inc. (NASDAQ: BGCP) ("BGC Partners," "BGC" or the
About this update from Bgc Group, Inc.
[{"type":"text","content":"LONDON, Nov. 14, 2022 /PRNewswire/ -- Fenics GO, operated by the Fenics division of BGC Partners, Inc. (NASDAQ: BGCP) (\"BGC Partners,\" \"BGC\" or the \"Company\"), is delighted to have been named the OTC Trading Platform of the Year by Risk.net at the Asia Risk Awards 2022.\nIn February 2022, Fenics GO launched MSCI Asian Indices on Eurex and by the end of the third quarter $40 billion has traded on the platform. The addition of Futures Cash Close trading in June 2022, to the existing ability to trade quarterly rolls, positioned Fenics GO as number one ranked interdealer broker in MSCI Hong Kong and MSCI Singapore on Eurex and top three by market share in eleven markets1.\nThe Korea Composite Stock Price Index (\"KOSPI\") and Hang Seng China Enterprises Index (\"HSCEI\") Options on Futures trading have also seen significant growth in the third quarter with record volumes, supported by nine liquidity providers now actively trading on Fenics GO.\nJean-Pierre Aubin, Co-Global Head of BGC Group Brokerage and CEO of Fenics GO, said \"We are delighted with the significant growth in volumes, products, new participants, and market share that Fenics GO is achieving in Asia and the industry recognition that this is resulting in. We are seeing record volumes in MSCI Futures, KOSPI and HSCEI Options on Futures, with more banks trading these products and more liquidity providers actively trading on Fenics GO directly.\"\nRisk.net commented, \"As the only electronic platform serving the interdealer market for large-sized equity index option trades, BGC's Fenics GO finds itself in a fortuitous position, and has gradually been extending its reach into Asia with the introduction of a range of new products serving popular Asian underlyings.\"\nThe full report on Fenics GO's award can be downloaded at Risk.net.\nAbout Fenics GOFenics GO specializes in the arrangement of block trades for global exchange listed options and delta 1 products. Capitalizing on BGC's electronic trading heritage, its goal is to enhance the current voice brokerage model by offering a technologically advanced electronic platform connecting market participants and intermediaries directly. Fenics GO combines complementary trading protocols to enable the dynamic work-up of multiple trading interests anonymously. Its focus on transparency and the provision of diverse executio...