BGCP - BGC Partners launches digital exchange inks clearing services agreement with LCH

BGC Partners (NASDAQ:BGCP) launches FMX, a U.S. rates-, cash- and futures-based electronic trading platform as it executes a clearing servicing agreement with global clearing house LCH. Still, shares of BGCP decline about 1.1% in pre-market trading. Fenics Market Xchange will deliver U.S. treasury and futures integrated trading and clearing solution, using Fenics UST's platform, the company said. The deal with LCH's listed rates clearing service provides a platform for generating significant capital and operational efficiencies between over-the-counter interest rate swaps and U.S. futures positions. "In addition to providing cross-margining benefits with OTC IRS to our clients, we anticipate FMX execution and LCH clearing services will improve market resiliency, expand global capacity, and increase client liquidity," said BGC Partners Chairman and CEO Howard Lutnick. Previosly, (Aug. 23) BGC Partners works with Algorithmica to launch FX volatility aggregator.

For further details see:

BGC Partners launches digital exchange, inks clearing services agreement with LCH