BGC Brokers Partners with Pirum Systems to Improve Post-Trade Connectivity

Global brokerage firm BGC Brokers, a subsidiary of BGC Partners, today announced a partnership with Pirum Systems, a provider of connectivity and real-time straight-through processing (STP) to the securities finance industry, to launch BGC's latest offering ColleX and improve post-trade efficiency for clients.

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BGC provides a range of services, including trade execution, broker-dealer services, clearing, trade compression and post trade, information to a broad range of financial institutions. Its customers include many of the world's largest banks, broker-dealers, investment banks, trading firms and hedge funds.

ColleX Platform

ColleX provides clients with a multi-product and multi-asset-class platform for collateral trading. Its centralised Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term increases the depth and breadth of interests, thereby promoting fast execution.

Philip Norton, Executive Managing Director, e-Commerce, BGC Partners, commented: "The need to tackle market-wide collateral latency and mobility makes Pirum's STP connectivity and post-trade infrastructure key to the financing universe. Linking ColleX to Pirum's suite of products addresses frictional costs, which is a benefit to our clients. Furthermore, we are excited to grow this joint effort across BGC's global brands."

STP Services

Pirum Systems is the market leader in real-time STP services to the securities finance industry, providing unparalleled connectivity with counterparties, collateral venues, trading platforms and central counterparties.

"We are excited to be working with ColleX to create this trading marketplace. Market connectivity and trade life-cycle management is core to Pirum's product offering. Our ability to streamline the post-trade process by transacting on ColleX will increase liquidity in this marketplace," added Rajen Sheth, Chief Executive Officer, Pirum Systems.

The collaboration between the two firms will enable clients to Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term ColleX’s expertise in electronic trading, combined with Pirum’s ability to manage the post-trade lifecycle, which includes regulatory reporting.