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BGC Group, Inc. (Nasdaq: BGC) is a leading global brokerage and financial technology company, catering to the financial markets, energy, and commodities sectors worldwide. Specializing in brokerage services, BGC offers an extensive array of financial products such as fixed income, equities, commodities, derivatives, and real estate. The company's robust service portfolio also includes software solutions for trading platforms, clearing, trade execution, and other back-office functions.
With a significant client base comprising banks, financial institutions, and corporate clients, BGC operates predominantly in the brokerage segment. Geographically, it generates revenue from regions including Asia, Europe/MEA, France, and the Americas, with the United Kingdom and the United States being its largest revenue contributors.
In recent developments, BGC Group has been proactive in expanding its market presence and technological capabilities. The company announced an updated outlook for the fourth quarter of 2023, expecting double-digit growth in revenue and pre-tax adjusted earnings. Additionally, BGC's ongoing projects include the FMX Futures Exchange, which received regulatory approval from the Commodity Futures Trading Commission (CFTC) to operate U.S. Treasury and SOFR futures contracts, promising to bring competition to the CME's interest rate complex.
BGC's commitment to innovation is further evidenced by its strategic partnerships with major financial institutions. FMX, a BGC initiative, has secured equity investments from Bank of America, Barclays, Citadel Securities, Citi, Goldman Sachs, J.P. Morgan, Jump Trading Group, Morgan Stanley, Tower Research Capital, and Wells Fargo, and is set to launch in September 2024. This collaboration is poised to enhance liquidity in the interest rate futures market and bolster BGC's market share.
Financially, BGC Group reported strong results for the fourth quarter and full year of 2023 and continues to share its success with shareholders through regular dividend declarations. The company's inclusion in the S&P SmallCap 600 index marks a significant milestone, reflecting its growth trajectory and commitment to shareholder value.
About BGC Group, Inc.
BGC Group, through its affiliates, offers a comprehensive range of services including trade execution, brokerage, clearing, trade compression, post-trade, information, and other back-office services. With brands such as Fenics®, FMX™, and BGC®, the company provides financial technology solutions, market data, and analytics across various financial instruments and markets.
For more information about BGC Group, Inc., please visit www.bgcg.com or follow them on Twitter and LinkedIn.
BGC Group (Nasdaq: BGC) has announced that its Chairman and CEO, Howard W. Lutnick, will present at the Piper Sandler Global Exchange & Trading Conference on June 5, 2024, at 11:00 a.m. ET.
The event will be webcast live and available on BGC's investor relations website. A replay of the presentation will remain accessible on the site for 180 days post-conference.
BGC Group, Inc. (Nasdaq: BGC) reported its first-quarter 2024 financial results, declaring a quarterly dividend of 2 cents. The company will host a conference call to discuss the results at 10:00 AM ET today. For more details, visit http://ir.bgcg.com/.
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