BGC Partners Debuts Fenics Global Options07.24.2019
BGC Partners, Inc., today announced the introduction of Fenics Global Options (“Fenics GO”) a pioneering electronic trading and market data generation platform involving the arrangement and execution of exchange listed futures and options. Fenics GO, in collaboration with industry leading liquidity providers Optiver, IMC and Maven Securities, launches Eurex listed Euro Stoxx 50 Index Options and related Delta 1 strategies allowing global traders to access liquidity electronically and anonymously, whilst being fully integrated into the Eurex workflow to enable seamless front to back processing of cleared trades.
Fenics GO is a fully electronic marketplace that combines complementary protocols to enable the dynamic work-up of multiple trading interests, enabling traders to access and interact directly with numerous liquidity sources quickly, securely and efficiently.
Shaun D. Lynn, President of BGC Partners, commented: “Fenics GO is a unique offering available to all liquidity providers, global banks and non-affiliated third party brokers to establish a platform that will deliver comprehensive price discovery, liquidity formation and market data. BGC and its affiliated brokers recognise the importance of providing customers with fully electronic marketplaces and are delighted to be a launch customer of Fenics GO.”
“We are delighted to work with Optiver, IMC and Maven Securities on the development of Fenics GO. There was a gap in the market for listed equity derivatives that Fenics GO fills by providing an efficient and compliant platform for accessing liquidity electronically,” says Dean Berry, Global Head of Electronic & Hybrid Markets at Fenics. “By collaborating initially with three industry leading liquidity providers, Fenics GO will connect liquidity takers with liquidity makers in a transparent, seamless and integrated workflow.”
Kjelle Blom, Chief Operating Officer of Optiver Europe, commented: “As a global market maker, Optiver is always looking for innovation in the market and with Fenics GO, we have a platform that is modernizing global broker markets. Optiver is delighted to support the launch of Fenics GO as a leading liquidity provider.”
Jan Willem Köhne, Head of Europe for IMC, commented: “IMC is committed as a founding liquidity provider to Fenics GO. We strongly support the electronification in trading and believe with our liquidity and Fenics GO’s connectivity we will be able to deliver unique execution to the trading community.”
Ivan Koedjikov, Director of Maven Securities, commented: “Maven is excited to be working with Fenics GO to provide deeper liquidity in listed options to all banks and brokers. We are confident that BGC’s global derivatives franchise and domain expertise will provide a strong foundation for this initiative.”
About Fenics Global Options
Fenics is the BGC Group’s foundation for fully electronic and associated hybrid transactions across all asset classes. Fenics Global Options (“Fenics GO”) specialises in the arrangement of block trades for global exchange listed options and delta 1 products. Capitalising 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 execution methods to initiate or join transactions, coupled with Fenics GO’s leading edge technology, creates a robust and reliable trading environment for all participants. With a commitment to low costs, fairness, transparency, and resiliency Fenics GO aims to be the premier OTC marketplace to source listed derivative block liquidity.
With regard to market data reform, the SEC may have bitten off more than it can chew.
Vela's SuperFeed market data service complements IPC's Connexus Cloud offering, execs say.
With all the moving parts in the exchange space, don't lose sight of the impact on end user investors.
Bill Bierds of BCC Group and Bill Fenick of Interxion discuss how COVID-19 has accelerated cloud adoption.
KBW says previously implemented exchange data fees should be safe.