FMX Futures Exchange Names Dr. Sharon Brown-Hruska to its Board of Directors

Rhea-AI Summary

BGC Partners, Inc. (Nasdaq: BGCP) has appointed Dr. Sharon Brown-Hruska to the FMX Futures Exchange Board of Directors, where she will also serve as the Regulatory Oversight Committee Chair. Dr. Brown-Hruska's extensive experience in the futures industry is expected to enhance the Exchange's mission of promoting competition in the interest rate futures market. With a previous role as Acting Chairman of the CFTC, she aims to bring innovation and resilience to the market. This move signals BGC's commitment to strengthening its leadership in the financial technology sector.

Positive

• Dr. Brown-Hruska's appointment brings extensive regulatory and industry experience to the FMX Futures Exchange.
• Her leadership is expected to enhance competition and reduce systemic risk in the interest rate futures market.

Negative

• None.

NEW YORK, July 20, 2022 /PRNewswire/ -- BGC Partners, Inc. (Nasdaq: BGCP) ("BGC"), a leading global brokerage and financial technology company, today announced the addition of Dr. Sharon Brown-Hruska to the FMX Futures Exchange Board of Directors. Dr. Brown-Hruska will serve as a Member of the Board and the Regulatory Oversight Committee Chair.

Robert Allen, President of the FMX Futures Exchange, commented on today's announcement, "We are pleased to welcome Dr. Sharon Brown-Hruska to the FMX Futures Exchange Board of Directors. Sharon's deep experience in the futures industry and strong regulatory oversight will be invaluable to the FMX Futures Exchange as we pursue our mission to bring competition to the interest rate futures market."

Dr. Sharon Brown-Hruska added, "I'm excited to join the Board of the FMX Futures Exchange. The FMX Futures Exchange is a game-changer that brings smart innovation and cutting-edge technology to the interest rate futures market. This initiative will add much-needed resiliency, capacity, and liquidity to the interest rate futures market to promote competition and reduce systemic risk."

Dr. Sharon Brown-Hruska was designated by President Bush to serve as Acting Chairman of the Commodity Futures Trading Commission (CFTC) on July 26, 2004, and served as Acting Chairman until July 10, 2005. She was first nominated to the Commission on April 9, 2002, confirmed by the Senate in August 2002, and sworn in on August 7, 2002. Dr. Brown-Hruska was nominated by President Bush to a second term as a Commissioner and confirmed by the Senate on November 21, 2004, to a term expiring April 13, 2009.

While at the CFTC, Dr. Brown-Hruska served as a member of the President's Working Group on Financial Markets, the President's Corporate Fraud Task Force, and played a leadership role in cooperative enforcement with national and international authorities. She worked closely with staff attorneys and the CFTC Office of Cooperative Enforcement to facilitate interagency actions, including prosecuting manipulation and fraudulent Ponzi schemes in foreign currency, energy, and other commodities.  Working with other agencies, she led the agency's efforts in the development of anti-money laundering (AML) and "Know Your Customer" requirements and was a leading member of the Financial Literacy and Education Commission.

Dr. Brown-Hruska is an arbitrator for the National Futures Association (NFA) and has testified as an expert in arbitrations before the Financial Industry Regulatory Authority (FINRA) on securities regulatory requirements and industry practices.  She serves on the Panel of Recognized International Market Experts in Finance (P.R.I.M.E. Finance), specializing in dispute resolution and international arbitration concerning derivatives and complex transactions.

She has served as a Professor at Tulane University's Energy Institute and as a Visiting Professor of Finance at Tulane University's A.B. Freeman School of Business. Dr. Brown-Hruska earned her BA in economics and international studies, along with her Ph.D. and MA in economics at Virginia Polytechnic Institute.

About BGC Partners, Inc.

BGC Partners, Inc. ("BGC") is a leading global brokerage and financial technology company. BGC, through its various affiliates, specializes in the brokerage of a broad range of products, including Fixed Income (Rates and Credit), Foreign Exchange, Equities, Energy and Commodities, Shipping, and Futures. BGC, through its various affiliates, also provides a wide variety of services, including trade execution, brokerage, clearing, trade compression, post-trade, information, and other back-office services to a broad range of financial and non-financial institutions. Through its brands, including FMX™, Fenics®, Fenics Market Data™, Fenics GO™, BGC®, BGC Trader™, Capitalab®, and Lucera®, BGC offers financial technology solutions, market data, and analytics related to numerous financial instruments and markets. BGC, BGC Trader, GFI, Fenics, FMX, Fenics Market Data, Fenics GO, Capitalab, and Lucera are trademarks/service marks and/or registered trademarks/service marks of BGC and/or its affiliates.

BGC's customers include many of the world's largest banks, broker-dealers, investment banks, trading firms, hedge funds, governments, corporations, and investment firms. BGC's Class A common stock trades on the Nasdaq Global Select Market under the ticker symbol "BGCP". BGC is led by Chairman of the Board and Chief Executive Officer Howard W. Lutnick. For more information, please visit http://www.bgcpartners.com. You can also follow BGC at https://twitter.com/bgcpartners, https://www.linkedin.com/company/bgc-partners and/or http://ir.bgcpartners.com/Investors/default.aspx.

Discussion of Forward-Looking Statements about BGC

Statements in this document regarding BGC that are not historical facts are "forward-looking statements" that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the effects of the COVID-19 pandemic on the Company's business, results, financial position, liquidity and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, BGC undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see BGC's Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.

Media Contact:
Karen Laureano-Rikardsen
+1 212-829-4975

Investor Contact:
Jason Chryssicas
+1 212-610-2426

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/fmx-futures-exchange-names-dr-sharon-brown-hruska-to-its-board-of-directors-301589878.html

SOURCE BGC Partners, Inc.

FAQ

What is the significance of Dr. Sharon Brown-Hruska's appointment to BGC Partners?

Dr. Brown-Hruska's appointment strengthens BGC's leadership and regulatory oversight, potentially enhancing the FMX Futures Exchange's operations.

How does Dr. Brown-Hruska's experience benefit the FMX Futures Exchange?

Her extensive background in the futures industry and previous roles at the CFTC are expected to promote competition and improve market resilience.

What position will Dr. Brown-Hruska hold at the FMX Futures Exchange?

She will serve as a Member of the Board and Chair of the Regulatory Oversight Committee.

When was Dr. Brown-Hruska appointed to the FMX Futures Exchange Board?

Her appointment was announced on July 20, 2022.

What is BGC Partners' focus in the financial market?

BGC Partners specializes in brokerage and financial technology solutions across various products, including fixed income, foreign exchange, and futures.