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BGC Group, Inc. (Nasdaq: BGC), headquartered in London and New York, is a leading global brokerage and financial technology company. BGC Group, formerly known as BGC Partners, provides a wide range of services including trade execution, broker-dealer services, clearing, processing, information, and other back-office services. The company’s expertise spans across more than 200 financial products such as fixed income securities, interest rate swaps, foreign exchange, equities, equity derivatives, credit derivatives, commercial real estate, commodities, futures, and structured products.
Core Business and Services:
- Trade Execution and Brokerage: BGC offers comprehensive trade execution and brokerage services across various financial instruments.
- Clearing and Processing: The company provides efficient clearing and processing services, ensuring smooth and reliable transactions.
- Information and Back Office Services: BGC's information services provide valuable market data and analytics, while their back-office services streamline operational tasks.
Recent Achievements:
In July 2023, BGC completed its corporate conversion to a full C-Corporation and changed its name from BGC Partners to BGC Group, Inc. This transformation aims to simplify its corporate structure, attract a more diversified investor base, and enhance long-term shareholder value. The company has also launched FMX, an electronic U.S. Treasury, Rates Futures, and Spot FX platform, signifying a major step forward in their growth strategy.
Financial Condition:
BGC reaffirmed its revenue and pre-tax Adjusted Earnings outlook for the second quarter of 2023, showing stability and confidence in their financial performance. The company's robust financial health is supported by its strategic non-GAAP measures like Adjusted Earnings and Adjusted EBITDA, which provide a clearer picture of its operating performance.
Partnerships and Client Base:
BGC's clientele includes many of the world’s largest banks, broker-dealers, investment banks, trading firms, hedge funds, governments, corporations, property owners, and real estate developers. This extensive network underscores the company’s significant footprint in the global financial market.
Current Projects:
One of BGC's notable projects is managed by its division Capitalab, which has successfully executed a new USD LIBOR to SOFR swaption migration service. This initiative helps clients transition from LIBOR to SOFR seamlessly, addressing market complexities and regulatory requirements.
For more information, please visit www.bgcpartners.com.
BGC Partners, Inc. (NASDAQ: BGCP) has announced a conference call to discuss its second quarter 2021 financial results. The call is scheduled for August 4, 2021, at 10:00 a.m. ET. Prior to the call, an advisory press release will be issued at 8:00 a.m. ET, detailing the availability of consolidated financial results. Participants can pre-register online to access the call more easily. A replay will be available within 24 hours post-call and will remain accessible for 365 days. The company's operations span various financial services, catering to significant global clients.
BGC Partners has reaffirmed its previously stated outlook for the second quarter of 2021, maintaining revenue and pre-tax Adjusted Earnings ranges. The company continues to utilize non-GAAP financial measures, including Adjusted Earnings and Adjusted EBITDA, to provide a clearer picture of its financial performance by excluding certain non-cash items. These metrics help manage business operations and determine dividend payouts. The emphasis on aligning executive interests with shareholder value remains a key strategy amid ongoing assessments of the company's financial health.
On June 8, 2021, Capitalab, part of BGC Brokers LP and BGC Partners (NASDAQ: BGCP), announced enhancements to its FX optimisation service. The service focuses on Risk Weighted Asset (RWA) calculations utilizing FX trade data from CLS, aiming to optimize client capital before and after adopting the SA-CCR framework. Capitalab's technology has led to notable efficiency improvements, with over $50bn in gross notional eliminated per participant, achieving up to 55% reduction in targeted metrics. This service strengthens partnerships within the FX marketplace.
BGC Partners, a leading brokerage and financial technology company, announced that its Chairman and CEO, Howard W. Lutnick, will present at the Piper Sandler Global Exchange & FinTech Conference on June 9, 2021, at 3:30 p.m. ET. A live webcast of the presentation will be available at http://ir.bgcpartners.com and a replay will be accessible for 180 days post-event. BGC specializes in a diverse range of brokerage services and technology solutions, serving major financial institutions globally.
BGC Partners announced an agreement to sell its Insurance Brokerage business to The Ardonagh Group for $500 million. This sale, expected to close in the second half of 2021, represents over 17% of BGC's fully diluted market capitalization. Management emphasized the shift of focus toward their growth platform, Fenics, which saw a 40% year-over-year growth in Q1 2021. The Insurance Brokerage unit contributed approximately $191 million in revenue over the past year, accounting for less than 10% of total revenue.
On May 5, 2021, FXFY LLC and Corbel Capital Partners announced a significant investment into Advanced Markets Group, a provider of foreign exchange liquidity. This investment welcomes Forexify and Corbel as new shareholders, alongside existing stakeholders such as Macquarie Group and GFI Group, who have scaled back their holdings. The partnership aims to enhance Advanced Markets' growth trajectory, leveraging Forexify's industry expertise and resource network. This marks the first major investment for Advanced Markets since 2010, as it continues to evolve as an independent entity in the prime brokerage space.
BGC Partners, Inc. (NASDAQ: BGCP) reported its financial results for Q1 2021, showcasing its brokerage and financial technology operations. The company's results are available on their website and reflect a strong performance in various financial product segments, including Fixed Income and Foreign Exchange. BGC continues to provide diverse services such as trade execution and analytics, serving major financial institutions globally. For further details, investors can access full financial documents via BGC's Investor Relations page.
BGC Partners, Inc. (NASDAQ: BGCP) has scheduled its first quarter 2021 financial results conference call on April 29, 2021, at 11:00 a.m. ET. An advisory press release regarding these consolidated quarterly results will be available at 8:00 a.m. ET on the same day. The call will discuss performance metrics and future outlook. Participants can pre-register to streamline access and join through specified U.S. and international dial-in numbers. Full details, including links to webcasts and replays, can be found on BGC's Investor Relations website.
BGC Partners has reiterated its outlook for Q1 2021, maintaining its revenue and pre-tax Adjusted Earnings projections. The announcement emphasizes the use of non-GAAP financial measures, such as Adjusted Earnings before noncontrolling interests and taxes, to provide insight into the company's financial performance. BGC believes these adjusted measures better reflect operational results and support management's decision-making. The company continues to align executive interests with stockholder outcomes through various equity compensation structures.
BGC Partners, a global brokerage and financial technology firm, will be presenting at the Piper Sandler Virtual FIA Investor Event on March 16, 2021, at 5:00 p.m. ET. The presentation will feature Chairman and CEO Howard W. Lutnick and CFO Steve Bisgay. Participants can access the live audio webcast by registering on the provided site, with archives available for 90 days post-event. BGC specializes in various financial products and services, trading on NASDAQ under the ticker symbol BGCP.
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