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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) announced its financial results for Q4 and the year ending December 31, 2020. The company continues to operate as a leading global brokerage and financial technology firm, delivering various services across multiple financial sectors. Detailed results can be found on their investor relations website. BGC serves major financial institutions and markets, providing essential solutions, including trade execution and analytics.
BGC Partners' Fenics GO was awarded the 2021 OTC Trading Platform of the Year by Risk.net, recognizing its innovative electronic trading capabilities. Launched in 2019, Fenics GO facilitated approximately 4.5 million Euro Stoxx options with a notional value exceeding $80 billion in 2020. The platform uniquely combines voice trading familiarity with electronic processing, enhancing transparency and efficiency. This award follows another win in December 2020 for Trading and Execution Solution of the Year, showcasing BGC's commitment to developing cutting-edge trading solutions.
Capitalab, a division of BGC Brokers LP and part of BGC Partners (NASDAQ: BGCP), has been awarded the 2021 OTC Infrastructure Service of the Year by Risk.net. This recognition highlights Capitalab's significant contributions to the non-cleared swaptions market and its innovative services aimed at capital optimization. In 2020, Capitalab expanded its offerings, including advanced margin optimization services and FX forward optimization. The award reflects Capitalab's effective solutions that enhance operational efficiency while addressing client needs in the derivatives market.
BGC Partners, Inc. (NASDAQ: BGCP) has scheduled a conference call to discuss its fourth quarter 2020 financial results on February 24, 2021, at 10:00 a.m. ET. An advisory press release will be issued at 8:00 a.m. ET the same day, directing the public to access the full-text financial results. Participants can pre-register for immediate access, and a replay will be available for 365 days post-call. BGC offers a range of brokerage and financial technology services.
BGC Partners' kACE division announced that Banque Pictet & Cie SA has adopted its kACE Treasury system. This integration will allow Banque Pictet to effectively price and distribute FX Forward prices to e-commerce platforms. The solution not only enhances traders' access to pricing information but also automates the customer quoting process. The deployment signifies a strategic enhancement to Banque Pictet's trading technology, aiming for improved service levels and regulatory compliance, as stated by both companies' representatives.
BGC Partners (NASDAQ: BGCP) announced updates regarding its outlook for the fourth quarter of 2020, reaffirming previous projections for revenue and pre-tax Adjusted Earnings. The company employs non-GAAP financial measures such as Adjusted Earnings to evaluate its operational performance, excluding certain non-cash expenses and charges not reflective of ongoing operations. Management believes these metrics provide a clearer picture of financial health. The ongoing impact of the COVID-19 pandemic remains a consideration for the company's balance sheet strength.
BGC Partners' division, kACE, has partnered with Singapore's Sparrow Tech to provide digital asset options solutions. Sparrow will integrate kACE Pro's extensive options libraries for risk analysis into its trading platform. This collaboration leverages kACE's 30 years of expertise in FX options, addressing growing demand in the crypto market. According to Sparrow's CEO, this marks a significant step toward becoming a trusted partner in digital asset options. The partnership is supported by notable investors like Signum Capital and Hyperchain Capital.
GFI Asia Partners Pte. Ltd, a subsidiary of BGC Partners (NASDAQ: BGCP), announced a majority stake in a new joint venture, GFIGS Commercial Consulting (Shanghai) Co., Ltd, focusing on OTC derivatives brokerage in China. Partnering with Guizhou Big Data Capital, GFIGS aims to utilize GFI's expertise in Iron Ore derivatives. The venture is poised to expand into additional products, leveraging China’s significant iron ore trading market, which is over 20 times larger than the offshore sector. This collaboration is expected to drive GFI's growth in the Chinese market.
BGC Partners (NASDAQ: BGCP) announced a new services agreement between Capitalab and CLS Group, aimed at enhancing FX optimisation services. The collaboration will leverage CLS's data for improving multilateral compression services across various currencies, addressing systemic risks in the FX market. Gavin Jackson and David Bachelier, co-founders of Capitalab, highlighted the potential for innovative solutions and risk mitigation. This partnership aims to improve capital efficiency and simplify the management of derivatives, as stated by CLS's Global Head of Product, Keith Tippell.
BGC Partners (NASDAQ: BGCP) announced that mBank, Poland's fully Internet-based bank, has chosen kACE Treasury to enhance its FX product pricing and distribution. kACE Treasury will integrate with mBank's existing treasury systems, facilitating seamless operations. The bank will offer 54 currency pairs, utilizing kACE's accurate pricing models for competitive trading. This partnership reflects BGC's commitment to expanding its treasury solutions following the acquisition of Kalahari, focusing on automation and robust e-commerce capabilities.
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