Interdealer Broker of the Year: BGC Partners
Asia Risk awards 2011 winner: BGC Partners – Interdealer Broker of the Year
A power shift took place in the interdealer market in September 2010 when Tradition poached nearly 40 brokers from rival Icap’s Singapore office. The move highlighted the precarious nature of the interdealer broking business, with Icap’s push towards electronic trading said to be partly responsible for the defections. But the raid does not appear to have immediately bolstered Tradition, with its management mired in legal disputes with Icap and managing problems with its retail FX business in
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