Low-touch trading is coming en masse to India’s forwards market.
This expansion follows the firm’s commitment to bring more low-touch trading to the country. It first offered an electronic trading platform for NDF Indian Rupee future based instruments, available on BGC’s SEF and off-SEF last November on a limited basis. Now the system is fully operational and being offered to all clients.
The low-touch trading system, dubbed “BGC Trader” will allow traders to electronically execute orders for the Indian Rupee non-deliverable forward (“INR NDF”) market.
“BGC became the first interdealer broker to launch an electronic trading solution for NDF Indian Rupee future based instruments in November last year, demonstrating our commitment to staying ahead of the curve to best serve our customers,” said Philip Norton, global head of e-commerce, BGC Partners. “We are encouraged by trading volumes and customer feedback which has been overwhelmingly positive.”
BGC Trader is a proprietary multi-asset, integrated voice and electronic price execution platform. The system’s goal is to bring rapid and efficient price discovery, order management and execution for customers seeking access to this market. The broker offers its customers the ability to roll their future exposure into the liquid NDF one month market via a basis swap Instrument. These instruments are available to trade on BGC’s SEF as well as off-SEF.
