BGC Partners, Inc. (NASDAQ: BGCP) is a leading global intermediary to the wholesale financial markets, specializing in the brokering of a broad range of financial products including global fixed income, rates, foreign exchange, equity derivatives, credit derivatives, futures and structured product markets. BGC offers a full range of brokerage services including price discovery, trade execution, straight through processing and clearing and settlement and access to electronic trading services through its eSpeed and BGC Trader brands.
The inflation market has had a challenging few months. In particular, many dealers were hurt by short positions in 0% inflation floors, causing sizeable losses for some firms.
It has been a roller-coaster ride of a year for inflation-linked products – thanks to the global economic problems that everybody has been encountering, the collapse of Lehman Brothers and the use of quantitative easing by central banks – in their efforts to combat inflation and deflation.