BGC Adds Yen Rate Swaps to Trader
First IDB to add Japanese IRS to electronic platform
The addition is designed to offer rapid and efficient price discovery, order management and execution for customers seeking access to the Yen IRS market. BGC will feature electronically executed Yen IRS trades with a variety of domestic and international banks and will utilize Japan Securities Clearing Corp. (JSCC), LCH and swap execution facilities for settlement.
"We hired and trained a team of five traditional voice brokers as we prepared to launch this innovative new electronic offering in the Yen IRS market," says Philip Norton, executive managing director and global head of e-commerce at BGC Partners. "This launch underscores our commitment to innovation and adds to our growing suite of electronic product offerings in Asia."
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