Global brokerage firm BGC Partners, Inc. has appointed James Cawley as its Chief Executive Officer of its Swap Execution Facility ("SEF") subsidiary, BGC Derivative Markets, L.P.
In his new role at BCG Partners, Mr. Cawley will be based out of the firm’s New York branch, where he will report to Philip Norton, Global Head of eCommerce at BGC. Given the recent ascension of Mr. Cawley to CEO, Angelo Toglia, will be relinquishing his role as Interim CEO of BGC Derivative Markets, L.P., assuming the role of Chief Operating Officer.
According to Mr. Norton in a recent statement on the appointment, "James Cawley brings valued industry experience and breadth of knowledge on derivatives trading and we are pleased to welcome him to BGC to lead the company's SEF. In the year since BGC's SEF began operating, our premier hybrid and fully electronic trading technology has continued to expand and improve to meet the growing needs of our clients. I am confident Mr. Cawley will ensure BGC stays at the forefront of the derivatives marketplace and he will be ably supported by Angelo Toglia, whose first-rate leadership of BGC Derivative Markets, L.P. in the interim has been valuable in supporting our customer needs and overarching business goals."
"I am delighted to join BGC which has an excellent industry reputation and a strong SEF whose exceptional hybrid business model Leads the marketplace. I look forward to leveraging BGC's excellent reputation in electronic trade execution and technology to better serve our customers in these rapidly evolving derivatives markets," added Mr. Cawley in an accompanying statement.
