BGC authorised as FCA registered benchmark administrator

BGC Brokers LP has been authorised as a UK registered benchmark administrator licensee with the UK Financial Conduct Authority under the UK Benchmarks Regulation.

BGC Group announced the move today (27 January). The enhancement provides clients with an FCA regulated reference page, improved data quality, and a strong alternative benchmark solution for their issuance activities, it said, with the wider range of approved products strengthening BGC’s value proposition and ability to support issuance workflows.

“This registration enables us to provide clients with regulated benchmark reference data that supports valuation and risk management activities across key rates markets,” said Nadim Mourad, Executive Managing Director at BGC.

The global brokerage and financial technology company’s approved benchmark offering includes swaps pricing in EUR IRS, GBP IRS, and XCCY swaps, and EU and UK inflation swaps.

“We are pleased to become a registered benchmark administrator in the UK, 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 its swaps products are available on Bloomberg and LSEG.