The chief executive of BGC Partners’ swap execution facility (Sef) has resigned, Risk.net has learned.
New York-based James Cawley stepped down as head of BGC Derivative Markets in February after nearly two-and-a-half years in the job.
Angelo Toglia, chief operating officer of BGC Derivative Markets, has been appointed interim chief executive of the Sef business until a permanent replacement is found.
A spokesperson for BGC declined to comment.
Cawley joined BGC in October 2014 after leaving