BGC Gets Temporary SEF Approval
BGC intends to offer trading of regulated swaps starting on Oct. 2.
BGC's technology infrastructure includes execution methodologies such as an anonymous central limit order book (CLOB), name-disclosed request-for-quote (RFQ), intra-day electronic auctions, indications of iInterest, and voice-managed orders for blocks and non-blocks. Market participants will be able to utilize BGC's platform to segregate US person/non-US person transactions on both a graphical user interface (GUI) and application programming interface (API) via instrument choice and contra-counterparty filtering.
BGC's experience running marketplaces includes eSpeed, a trading platform for US Treasury notes and bonds that was sold to Nasdaq OMX in June, and ELX Futures, the electronic futures exchange.
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