BGC Partners releases Q1 results, reporting a small FX revenue growth LeapRate

May 05, 2023 BY Steffy Bogdanova

BGC Partners releases Q1 results, reporting a small FX revenue growth

BGC Partners' profitability during the previous quarter was higher due to increased revenues and record quarterly productivity. Specifically, the brokerage company's pre-tax and post-tax adjusted earnings rose by 10.2% and 12.1%, respectively. Moreover, its earnings before interest, taxes, depreciation, and amortization also increased by 7% when compared to the same period in the previous year.…

November 17, 2022 BY Steffy Bogdanova

BGC Partners rebrands to BGC Group

Under the new legal structure, the owners and shareholders will be taxed separately from the company. C-corporations limit the liability of shareholders and owners as the most they can lose in the event of a failure of the business is the money they invested. Howard W. Lutnick, Chairman of the Board and Chief Executive Officer…

July 05, 2022 BY Steffy Bogdanova

BGC Partners arranges intermediated block trade of CME Group Bitcoin options in Asia

BGC is establishing electronic platforms and voice / hybrid listed brokerage desks in major financial centers in anticipation of an active OTC wholesale cryptocurrency marketplace, so that it can facilitate the expected growth in this sector. Brad Howell, CEO Asia Pacific* for BGC, commented on today's announcement: We are delighted to partner with Cumberland and…

January 18, 2022 BY Steffy Bogdanova

BGC Partners pays $110K infringement penalty

The Panel also pointed out that BGC Partners’ failure appeared to be the result of unintentional operator error. It concluded that it is likely this error could have been avoided if BGC Partners had updated its systems to incorporate enhanced technological safeguards. The official statement said: Although enhanced technological safeguards may not be required where…

December 11, 2020 BY Steffy Bogdanova

Forex Weekly Look Back: FXCubic partners with M4Markets, StoneX reports $81.8 million bargain purchase from GAIN acquisition

The Australian Securities and Investments Commission (ASIC) announced raising civil proceedings in Federal Court against Union Standard International Group Pty Ltd (trading as usgfx) and its former corporate authorised representatives, Maxi EFX Global AU Pty Ltd (trading as EuropeFX) and BrightAU Capital Pty Ltd (trading as TradeFred). The UK Financial Conduct Authority announced making the…

December 07, 2020 BY Steffy Bogdanova

BGC Partners’s subsidiary GFI with joint venture company in China

Benny Luk, Group CEO of Greater China, commented: We are delighted with the establishment of GFIGS to offer OTC brokerage services in China. Iron Ore futures trading volumes in China are more than 20 times larger than the offshore market. With Guizhou Big Data Capital's extensive network and coverage of China's financial markets and GFI's…

July 02, 2020 BY Steffy Bogdanova

BGC Partners updates its second quarter outlook with lower expectations

The company’s non-GAAP financial measures differ from the most directly comparable measures calculated in accordance with Generally Accepted Accounting Principles in the US (GAAP). Non-GAAP financial measures used by the BGC Partners include "Adjusted Earnings before noncontrolling interests and taxes", which is used interchangeably with "pre-tax Adjusted Earnings"; "Post-tax Adjusted Earnings to fully diluted shareholders",…

April 09, 2020 BY Steffy Bogdanova

Former Cboe FX COO Paul Reidy joins BGC Partners as Head of Brokerage Technology

Reidy joins ex-Cboe FX alums (including via predecessor companies Hotspot FX and KCG) Howard Silverman, Barry Calder, Steve Bisgay, Jeff Headley, Steve Sadoff, John Colantuono and others there. Reidy has also worked as a Head of FX Technology at BATS Global Markets, as Managing Director at Knight Capital Group for almost ten years. He as…

Eurex reports 192.1 million traded contracts in June

December 05, 2017 BY Valentina Kirilova

Eurex Clearing cooperates with five execution platforms for OTC service

BGC Partners, Bloomberg, i-Swap, a TP ICAP Group company, Tradeweb and Tradition’s Trad-X are each seeking to become an ‘Approved Platform’ as part of the Eurex Clearing Partnership Program framework. Eurex Clearing, one of theCentral Counterparties (CCP) and part of Deutsche Börse Group, announced that it cooperates with major execution platforms for OTC traded interest…

February 23, 2017 BY Valentina Kirilova

BGC Partners pays $90,000 in infringement notice penalty

BGC Partners (Australia) Pty Limited (BGC) has paid a total penalty of $90,000 to comply with an infringement notice given to it by the Markets Disciplinary Panel (MDP), ASIC announced earlier today. The MDP had reasonable grounds to believe that BGC had contravened subsection 798H(1) of the Corporations Act 2001 (Cth) by failing to comply…

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