BGC Partners
 |
|
| Public | |
| Traded as | NASDAQ: BGCP |
| Industry | Banking, Financial Services |
| Founded | 1945 |
| Headquarters | 499 Park Avenue, New York, New York, U.S. |
|
Area served
|
Worldwide |
|
Key people
|
Howard Lutnick (Chairman & CEO) |
| Products | Fixed income securities, interest rate swaps, foreign exchange, equities, equity derivatives, credit derivatives, commercial real estate, commodities, futures, and structured products |
| Revenue |
 US$ 2.506 billion (2015) |
|
Number of employees
|
6,547 (2012) |
| Website | Official website |
BGC Partners is an American global financial services company based in New York City. Originally formed as part of the larger Cantor Fitzgerald organization, BGC Partners became its own entity in 2004.
In 1945, Bernard Gerald Cantor founded a brokerage service for inter-dealer fixed income markets. The resulting company was B.G. Cantor and Company, which later became Cantor Fitzgerald.
In 1965 Cantor Fitzgerald established an Institutional Equities Sales and Trading Division, which offers large block trading to asset managers, pension funds, and portfolio managers. In 1983, Cantor Fitzgerald became the first firm to offer worldwide screen brokerage services in US Government Securities.
In 1991, Howard Lutnick was named President of Cantor Fitzgerald, after having worked at the firm for the previous eight years. Lutnick placed a new emphasis on technological innovation at the company, and in 1996 lead the development of eSpeed, which went public in 1999.
The September 11, 2001 attacks claimed 658 employees of Cantor Fitzgerald and eSpeed, whose headquarters were in the World Trade Center. In response to the attacks, BGC Partners and Cantor Fitzgerald pledged to donate 25% of their profits to families of deceased employees.
BGC Partners was formed in 2004 when Cantor Fitzgerald spun out its voice brokerage business. The initials BGC standing for that company's founder, Bernard Gerald Cantor.
In April 2005, BGC Partners LP merged with Maxcor Financial Group Inc. to form BGC Partners.
In September 2005, BGC Partners held their first annual Charity Day event. The event featured Harry Carson, Boomer Esiason, and Mariano Rivera and raised money for the Cantor Fitzgerald Relief Fund among other charities.
In 2007, BGC Partners opened an office in Seoul, South Korea and became the first inter-dealer broker to open an office in Istanbul, Turkey.
In 2008, BGC Partners merged with eSpeed and becomes BGC Partners Inc.
In November 2009, BGC Partners won Asia Risk Magazine's first ever award for Technology Development.
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Wikipedia