As Cantor Fitzgerald LP starts rebuilding its operations in New York, the firm is looking to London and Chicago for much of the support it needs to maintain its U.S. fixed-income and derivative activities.
Cantor and its electronic bond trading platform, eSpeed, lost around 700 employees in the terrorist attack on the World Trade Center.
Company spokeswoman Cara Kiewel said forex options, dollar swaps, credit derivatives and some interest rate options are now traded from London.
Cantor’s Chicago office is picking up an increasing share of interest rate options, as well as running the dollar swaps business that was previously handled in New York.
Kiewel said the London office is supporting many back-office functions for Cantor Fitzgerald’s U.S.-based transactions, including services in credit, settlement, risk and compliance.
Cantor’s U.S. equity operations continue to be based in New York, she said.