AxeTrading signs partnership with BGC Partners
LONDON – April 12th, 2018 – AxeTrading, a leading provider of trading solutions to fixed
income market participants worldwide, has signed a technology partnership with BGC
Partners, Inc. (NASDAQ: BGCP), a leading global brokerage company servicing the
financial and real estate markets. Under the agreement, BGC Partners is immediately
extending its use of AxeTrading’s fixed income e-trading system “AxeTrader” in the first
implementation phase of a deployment across a number of its agency brokerage
The move comes as BGC Partners extends its regulatory compliance, with immediate
attention to the cross-asset best-execution requirements of its agency brokerage businesses
under MiFID II, which came into effect on 3rd January, 2018.
“BGC Partners is pleased to have identified a next-generation e-trading system engineered
for the evolving market structure and regulatory environment of today’s fixed income agency
brokerage business. We have tested AxeTrader in one of our global agency brokerage
services and both the technology and the team at AxeTrading have delivered a product
which addresses our needs,” said Arran Rowsell, BGC Partners.
“BGC Partners’ decision is a testament to the uniqueness and effectiveness of our agency
broker solution,” said Mark Watters, director at AxeTrading. “We’re seeing increased interest
as the markets continue to ready themselves for MiFID II, and we’re delighted to partner with
an industry leader like BGC Partners to help their agency broking business both remain
compliant with the new regulations and thrive in this new ecosystem.”
AxeTrader provides both sell-side and buy-side fixed income traders with a holistic view of
the fixed income markets by integrating internal systems with multiple venues (OTC,
exchanges, MTFs, OTFs and SEFs), data sources and all electronic and voice workflows
within a single trading application, and automates trade processing after execution. With this
dashboard of pre-trade information, and a full audit trail of post-trade activity, institutions can
achieve best execution and improve the efficiency of their operations.
With a hosted deployment, the rollout of AxeTrader solution with BGC Partners has been
accomplished within relatively short timescales and has enabled its agency businesses to
undertake MiFID II-compliant trading.
Within the last 12 months, AxeTrading has received a €2m investment from Illuminate
Financial, hired a regional sales director and opened an office in Sydney and in Singapore
as part of its APAC expansion, and more than doubled its staff.
AxeTrading is planning further global expansion as its business already extends across four
AxeTrading is a leading provider of trading solutions to global fixed income market
participants. By integrating with, and providing access to, a wide range of fixed income
execution venues and data sources across voice and electronic trading, AxeTrading equips
traders with smarter tools to overcome the challenges of today’s markets. Its deep
partnerships with clients go beyond simple aggregation, enabling the firm to reduce cost and
operational risks across the trading floor, while facilitating regulatory compliance.
AxeTrading was founded in 2009, and now has clients in more than 15 countries across four
continents. For more information, visit www.axetrading.com.
About BGC Partners, Inc.
BGC Partners is a leading global brokerage company servicing the financial and real estate
markets. BGC owns GFI Group Inc., a leading intermediary and provider of trading
technologies and support services to the global OTC and listed markets. BGC's Financial
Services offerings include fixed income securities, interest rate swaps, foreign exchange,
equities, equity derivatives, credit derivatives, commodities, futures, and structured products.
BGC provides a wide range of services, including trade execution, broker-dealer services,
clearing, trade compression, post trade, information, and other services to a broad range of
financial and non-financial institutions. Through brands including FENICS, BGC Trader,
Capitalab, Lucera, and FENICS Market Data, BGC offers financial technology solutions,
market data, and analytics related to numerous financial instruments and markets. BGC,
BGC Trader, GFI, FENICS, FENICS Market Data, Capitalab, and Lucera are
trademarks/service marks and/or registered trademarks/service marks of BGC Partners, Inc.
and/or its affiliates.
BGC offers Real Estate Services through its publicly traded subsidiary Newmark Group, Inc.
BGC's customers include many of the world's largest banks, broker-dealers, investment
banks, trading firms, hedge funds, governments, corporations, property owners, real estate
developers, and investment firms. BGC's common stock trades on the NASDAQ Global
Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding
bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock
Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief
Executive Officer Howard W. Lutnick. For more information, please
visit http://www.bgcpartners.com. You can also follow BGC at:
Discussion of Forward-Looking Statements about BGC Partners and Newmark
Statements in this document regarding BGC and Newmark that are not historical facts are "forward-looking statements" that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see BGC's and Newmark's Securities and Exchange Commission filings, including, but not limited to, the risk factors set forth in these filings and any updates to such risk factors contained in subsequent Forms 10-K, Forms 10-Q or Forms 8-K.
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