FX news: BGC to use Reuters for FX options post trade
Thomson Reuters announced on Wednesday that BGC Partners, the interdealer broker, has expanded its post-trade offering of Thomson Reuters Trade Notification to include FX options.
With increased trading volumes, more institutions are focusing on post-trade efficiency to reduce errors and costs. Thomson Reuters has expanded its trade notification (also known as RTNS) to include interest-rate swaps, cash bonds, FX spot, forwards, swaps, money market loans and deposits, and FX options. BGC is one of the first to sign up to publish FX options messages using RTNS to offer customers value-added straight-through processing.
Philip Norton, global head of e-commerce at BGC, says: “As a leading broker in FX options, we are pleased to be part of the growing community using Thomson Reuters Trade Notification. This service has helped us to grow our business by providing value-added, integrated post-trade connectivity.”
Richard Kiel, global head of post trade services at Thomson Reuters, adds: “We are delighted to bring improved operational efficiency to the market by working with BGC Partners. The expanded service now provides our existing FX customers and new clients with the ability to achieve STP for their FX options trade flow, to lower transaction costs by greatly reducing costly errors in the post-trade processing cycle.”