BGC Brokers Partners with Pirum to Launch Collateral Trading Platform
The collaboration is expected to improve BGC’s post-trade efficiency for clients and boost the firm’s collateral trading platform, ColleX.
The BGC Partners subsidiary debuted its platform for collateral trading in the third quarter of last year, developed by the firm's Fenics business.
ColleX is multi-asset platform which promotes collateral mobility. Pirum wil enhance the platform with the ability to manage the post-trade lifecycle and address new reporting requirements.
Philip Norton, executive managing director, e-Commerce, at BGC Partners, said in a statement that Pirum's STP connectivity and post-trade infrastructure is vital
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