BGC Authorized as an FCA-Registered Benchmark Administrator
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Key Terms
benchmark administratorregulatory
An organization that creates, maintains and publishes financial benchmarks or indices used to price assets, value portfolios, or set reference rates — think of it as the official scorekeeper for certain market measurements. Investors rely on these benchmarks to compare performance, set contract terms, and price products; if the benchmark is changed, manipulated, or calculated poorly it can affect valuations, risk assessments and returns like a faulty scoreboard changing game outcomes.
swapsfinancial
A swap is a private contract in which two parties agree to exchange streams of future payments or obligations—commonly swapping a fixed payment for a variable one, or exchanging cash flows tied to different interest rates or currencies. Investors use swaps to change their exposure to interest rates, currency moves or credit risk without buying or selling the underlying asset, which can lower financing costs, hedge against unwanted swings, or be used to speculate on market changes.
eur irsfinancial
An EUR IRS (euro interest rate swap) is a financial contract where two parties in the euro area agree to exchange interest payments: one pays a fixed rate and the other pays a floating rate tied to short-term euro interest benchmarks. Investors watch EUR IRS levels because they let borrowers and investors lock in or hedge future borrowing costs, act as a market signal of expected interest-rate moves, and influence pricing for bonds, loans and other interest-sensitive assets — like two homeowners swapping a fixed mortgage payment for a variable one to manage risk.
gbp irsfinancial
A GBP IRS is a contract in which two parties agree to swap interest payments on a loan denominated in British pounds — typically one side pays a fixed rate and the other pays a variable rate tied to short-term market interest. Investors care because these swaps let companies and funds lock in or shift interest-rate exposure, affecting borrowing costs, cash flows and the market value of interest-rate sensitive assets, much like trading a fixed mortgage payment for a variable one.
xccy swapsfinancial
A cross-currency swap is a financial contract in which two parties exchange principal and interest payments in different currencies for a set period, like swapping loan terms so each side pays in the currency they prefer. Investors care because these swaps let companies and funds lock in borrowing costs and protect against exchange-rate swings—similar to trading a variable bill for a fixed one in another currency—so they affect financing costs, risk exposure, and valuation of foreign investments.
inflation swapsfinancial
A contract where two parties swap a fixed payment for a payment tied to actual inflation measured by an official index, effectively letting one side lock in expected future inflation while the other takes on the risk of prices rising or falling. Think of it like buying or selling a weather insurance policy for the economy: investors use inflation swaps to hedge the purchasing-power risk of cash flows, to speculate on future inflation, or to extract clearer market-implied inflation expectations that influence bond and portfolio decisions.
forward curvetechnical
A forward curve is a line showing the market’s prices for a commodity, currency, interest rate or other asset for delivery at different future dates, essentially a timetable of expected prices. Investors use it like a weather forecast for prices: it helps estimate future cash flows, set hedges, and judge whether the market expects rises or falls, informing decisions about buying, selling or locking in prices ahead of time.
reference datatechnical
Reference data are the basic, stable facts used to identify and classify financial instruments, companies, accounts and currencies—things like standard identifiers, names, exchange codes and instrument types. Investors care because accurate reference data are the glue that lets trades settle correctly, prices and reports line up, and regulatory filings stay accurate; errors are like a mislabeled address that can send money or records to the wrong place.
LONDON--(BUSINESS WIRE)--
BGC Group, Inc. (Nasdaq: BGC) (“BGC”), a leading global brokerage and financial technology company, today announced that BGC Brokers L.P. is now authorized as a U.K. registered benchmark administrator licensee with the U.K. Financial Conduct Authority (“FCA”) under the U.K. Benchmarks Regulation.
BGC’s approved benchmark offering includes swaps pricing in EUR IRS, GBP IRS, & XCCY swaps, and EU and U.K. Inflation swaps. This enhancement provides clients with an FCA regulated reference page, improved data quality, and a strong alternative benchmark solution for their issuance activities. This wider range of approved products strengthens our value proposition and ability to support issuance workflows.
“BGC is one of the world’s leading interest rate derivatives brokers with a comprehensive benchmark reference page for EUR, GBP swaps, inflation, and cross-currency products, covering the full forward curve,” said Nadim Mourad, Executive Managing Director at BGC. “This registration enables us to provide clients with regulated benchmark reference data that supports valuation and risk management activities across key rates markets.”
“We are pleased to become a registered benchmark administrator in the U.K., reflecting our commitment to the highest standards of benchmark administration and our dedication to integrity, transparency, and resiliency for our clients,” said Sean Windeatt, Co-Chief Executive Officer at BGC. “We look forward to expanding our benchmark offerings into other products and markets.”
Reference pages for all the above swaps products are available on Bloomberg and LSEG.
About BGC Group, Inc.
BGC Group, Inc. (Nasdaq: BGC) is a leading global marketplace, data, and financial technology services company for a broad range of products, including fixed income, foreign exchange, energy, commodities, shipping, equities, and now includes the FMX Futures Exchange. BGC’s clients are many of the world’s largest banks, broker-dealers, investment banks, trading firms, hedge funds, governments, corporations, and investment firms. BGC and leading global investment banks and market-making firms have partnered to create FMX, part of the BGC Group of companies, which includes a U.S. interest rate futures exchange, spot foreign exchange platform, and the world’s fastest growing U.S. cash treasuries platform. For more information about BGC, please visit www.bgcg.com.
Discussion of Forward-Looking Statements about BGC
Statements in this document regarding BGC that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the Company’s business, results, financial position, liquidity, cash position and outlook, and statements related to the completion of the disposition described above, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, BGC undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see BGC’s Securities and Exchange Commission (“SEC”) filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.
