CHICAGO, IL, JULY 15, 2009 (BUSINESSWIRE) – 7ticks, LLC, a leading technology managed services provider for the financial trading sector, and BGC Partners, Inc. (NASDAQ:BGCP) (“BGC”), a leading inter-dealer broker, announced today that 7ticks has launched direct access, network management, and proximity hosting services within BGC’s Rochelle Park, New Jersey data center. 7ticks’ presence at BGC’s data center facilitates low latency access and enhanced connectivity services to BGC’s proprietary trading platform for fixed income, futures, and derivative instruments.
For qualified BGCantor Market Data subscribers, 7ticks will now be able to provide network access across the entire 7ticks global network for US Treasuries and ELX Futures products. 7ticks will be able to provide connectivity to major liquidity destinations such as Chicago, New York, New Jersey, London, and Frankfurt.
“For algo traders, and those wanting to trade more complex strategies, latency is a key consideration. By working with the 7ticks team to provide co-location and networking services to our clients and preferred vendors, we are offering our customers the ability to implement ultra-fast CEP solutions for our electronically traded products,” said Robert Brown, Global Head of eBusiness Integration, BGC Partners.”
“7ticks is extremely pleased to be working with the BGC team. Together, we have simplified the complexity and cost associated with the performance trading goals of efficient global market data delivery and order execution,” said Joe Bigane, Managing Director of 7ticks. “Our clients are always looking for ways to shave milliseconds off their trades while controlling infrastructure costs. Today’s announcement is another example of our rapid expansion to meet the growing demand for these electronic trading services.”
BGC and 7ticks are also working with a number of independent software vendors (ISVs) via BGC’s preferred vendor program to offer fast connectivity to BGC’s electronic trading platform on 7ticks’ network. A growing number of ISVs are currently developing their applications for trading the BGC product sets, and 7ticks is providing network management services for vendors seeking connectivity solutions. For more information on this program, please contact isv@bgcpartners.com.
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About 7ticks, LLC
7ticks is the driving force in high performance trading networks and managed services for direct access to the financial markets. The 7ticks team provides electronic trading infrastructure design, procurement, installation, and hosting services that are enhanced by ongoing management, support, and monitoring solutions.
Proprietary trading groups, clearing firms, global investment banks, brokers, market makers, hedge funds, and independent software vendors (ISVs) choose 7ticks for industry leading network performance, reliability, monitoring insight, and cost savings.
7ticks is headquartered in Chicago, IL and has an active worldwide presence, providing direct market access to leading exchanges and proximity/support services in Chicago, New York, New Jersey, Frankfurt and London.
For more information, please visit: http://www.7ticks.com
About BGC Partners, Inc.
BGC Partners, Inc. (NASDAQ: BGCP) is a leading, fast growing, and global inter-dealer broker, specializing in the brokering of financial instruments and related derivatives products. BGC Partners provides integrated voice, hybrid, and fully electronic execution and other brokerage services to the world’s largest and most creditworthy banks, broker-dealers, investment banks, trading firms, and investment firms for a broad range of global financial products, including fixed income securities, interest rate swaps, foreign exchange, equity derivatives, credit derivatives, futures, commodities, structured products, and other instruments.
Through its eSpeed and BGC Trader brands, BGC Partners uses its proprietary, built, and paid for technology to operate multiple buyer, multiple seller real-time electronic marketplaces for the world’s most liquid capital markets. The Company’s pioneering suite of tools provides end-to-end transaction solutions for the purchase and sale of financial products over its global private network or via the Internet. BGC Partners’ neutral platform, reliable network, straight-through processing and superior products make it the trusted source for electronic trading for the world’s largest financial firms. Through its BGCantor Market Data brand, the Company also offers globally distributed and innovative market data and analysis products for numerous financial instruments and markets.
BGC’s unique partnership structure and extensive employee ownership create a distinctive competitive advantage among its peers. Named after fixed income trading innovator B. Gerald Cantor, BGC Partners has 18 offices in New York and London, as well as in Beijing (representative office), Chicago, Copenhagen, Hong Kong, Istanbul, Johannesburg, Mexico City, Nyon, Paris, Rio de Janeiro, São Paulo, Seoul, Singapore, Sydney, Tokyo and Toronto. For more information, visit https://bgcpartnersprd.wpengine.com. The Company’s corporate address is: BGC Partners, Inc., 499 Park Avenue, New York, New York 10022. The media, analysts, and investors can also subscribe to BGC Partners’ investor “Email Alerts” at the “Investor Relations” section ofhttps://bgcpartnersprd.wpengine.com.
Discussion of Forward-Looking Statements by BGC Partners
Statements in this press release regarding BGC Partners’ business that are not historical facts are “forward-looking statements” that involve risks and uncertainties. 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 Partners’ Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors set forth in our public filings which we incorporate by reference, including our Form 10-K for the year ended December 31, 2008, as filed with the SEC on March 16, 2009 and any updates to such risk factors contained in subsequent 10-Q filings.
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Contacts
7ticks
Karen Bertoli
Director of Public Relations
kbertoli@7ticks.com
+1.312.399.7878
BGC Partners
US & UK
Florencia Panizza
VP, Communications and Marketing
fpanizza@bgcpartners.com
+1 212 294 7938
Courtney Goldstein
Communications and Marketing Analyst
cgoldstein@bgcpartners.com
+1 212 294 7942