BGC Partners (Nasdaq: BGCP) today announced that the Finnish State Treasury has formally recognised the BGC Electronic Trading Platform as a source of liquidity for the secondary market trading of Finnish government bonds.
BGC's Electronic Trading Platform is operational in all the European government bond markets and has also been formally recognised in the following European countries who have opened their wholesale government bond markets to competitive platforms:
* The Netherlands
Philip Norton, Executive Managing Director and Global Head of e-Commerce at BGC Partners said: "We are delighted to be able to offer primary dealers a wide choice as to where they post prices and trade. We look forward to continuing to establish partnerships with those authorities across Europe seeking to open their government bond markets to multiple platforms and in continuing to add value to the market as a whole."
Teppo Koivisto, Director of Finance, Finnish State Treasury said: "With the opening of the Finnish inter dealer markets to competing electronic trading platforms, Finland shows commitment to a European harmonization and fair terms of competition, with a goal to foster our bonds liquidity and trading infrastructure."
BGC's integrated voice and electronic platform is already used by its brokers across multiple asset classes to provide wholesale banks with a choice of voice, voice-assisted, screen assisted, or, where available, fully electronic brokerage services. This enables greater flexibility with regard to price discovery, execution and processing of transactions.