BGC Partners Unveils Global Expansion of Daily Swap Fixing Pages

The IDB began disseminating daily swap fixing pages approved by ISDA documentation for transactions executed in Central and Eastern Europe, Russia and Asia Pacific.

Inter-dealer broker BGC Partners announced the daily expansion of its daily swap fixing pages with additional countries in Central and Eastern Europe, Russia and Asia Pacific formally recognized as official price references under International Swaps and Derivatives Association (ISDA) documentation.

This builds on the firm’s existing status in US Dollar, Euro, Singapore Dollar and Hong Kong Dollar ISDA fixing pages and reinforces BGC Partner’s position as a leading global provider of real-time and daily fixing information to primary dealers, investment banks and end users, according to the company issued release.

“As the global market expands the need for the provision of accurate pricing information increases. We look forward to working with ISDA in continuing to provide reliable marketplace data to our valued clients as well as to the wider marketplace,” stated Philip Norton, executive managing director and global head of e-commerce in the release.

In August of 2009, BGC announced ISDA’s acceptance of its Euro interest rate swap and US Dollar interest swap pages and in October 2009 it announced the publication by ISDA of its US Dollar overnight index swap (OIS) and Euro overnight index average (EONIA) pages as price references by ISDA.

ISDA documentation governs the terms to confirm, mark, assign and terminate derivative transactions between counterparts. The pages will be snapshots of real-time BGC screens taken at pre-determined time daily,” according to Len Harvey, executive managing director and general manager, BGC Partners, Asia Pacific, in the release.

With dissemination through BGCantor Market data service, BGC began providing ISDA defined fixings as of Aug. 3rd for swap and non-deliverable swaps transactions executed in Chinese Renminbi, Czech Koruna, Indian Rupee, Indonesian Rupiah, Philippine Peso, Romanian Leu, Russian Ruble, Taiwanese Dollar, Thai Baht, Turkish Lira and Vietnamese Dong.

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