BGC Group’s Capitalab switches 10,000 LIBOR swaptions to SOFR

Capitalab, a division of BGC Brokers LP, an entity within BGC Group, announced it has successfully completed its third execution of a new USD LIBOR to SOFR swaption migration service, supported by 10 major global investment banking groups. Capitalab co-founder and managing director Gavin Jackson, said, “On the back of strong client demand, Capitalab mobilised its technology and options expertise to deliver a highly effective solution to our valued clients in record time. We are delighted with the seamlessness of the first few executions and the strong support from our clients. We look forward to tackling the rest of the inventory shortly, and to solving future multilateral challenges for the derivatives marketplace.”