Tag: bgc partners

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.…

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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…

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ASIC
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…

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Forex Weekly Look Back
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…

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BGC Partners updates its second quarter outlook with lower expectations
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",…

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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…

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SFC fines
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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