How Safe Is BGC Partners?
Esekla • 12 Comments
Esekla • 12 Comments
BGC Partners Continues To Fire On All Cylinders
Esekla • 10 Comments
Esekla • 10 Comments
Thu, Aug. 25, 1:23 PM
- BGC Partners (NASDAQ:BGCP) agrees to buy Perimeter Markets, an independent provider of electronic fixed income and futures trading in Canada.
- Founded in 1999, Premier offers electronic and hybrid brokerage services in Canadian fixed income securities and futures. It operates out of Toronto.
- Terms will not disclosed.
Thu, Jul. 28, 8:04 AM
Wed, Jul. 27, 5:30 PM
- AB, ABMD, ACIW, ACOR, ADP, AEP, ALKS, ALLE, ALXN, AMT, APD, ARIA, AZN, BC, BCC, BCO, BCOR, BEN, BG, BGCP, BHI, BMS, BMY, BSX, BWA, BWEN, BZH, CAB, CBG, CBM, CELG, CFX, CIT, CL, CLF, CLFD, CME, CMS, COMM, COP, COR, CRR, CRS, CS, CSH, CVI, CVRR, CWT, DBD, DFT, DLX, DOW, DSX, EME, EPD, EQM, EQT, EXLS, F, FCFS, FCN, FI, FIG, FITB, FLY, FSS, GLOP, GNC, GOV, GPI, GPN, GRUB, GTLS, HCA, HEES, HOG, HP, HSY, HTH, IART, IDA, IGT, INCR, INGR, IP, IPGP, IRDM, ITC, ITG, IVC, IVZ, KEM, LAD, LAZ, LDOS, LEA, LKQ, LLL, LPG, MA, MCS, MD, MDP, MDWD, MINI, MITK, MJN, MKTX, MMC, MNRO, MPC, MPLX, MSCI, MTH, MTRN, MVIS, NAP, NEWM, NICE, NMR, NOV, NTCT, NYT, OAK, ODFL, ORI, OSK, PAG, PCG, PES, PF, PJC, PNR, POT, PRLB, PTEN, PX, RDN, RDS.A, RPM, RTN, SCG, SEE, SERV, SFE, SPB, SPGI, SQBG, SQNS, STNG, SXC, SXCP, TCK, TFX, TGI, THRM, TKR, TMO, TPX, TREE, TRI, TZOO, UAN, UBSI, UTHR, VC, VGR, VIVO, VNTV, WCC, WILN, WRLD, WST, WWE, YNDX, ZBH
Tue, Jul. 19, 7:58 AM
- Expanding its equity derivatives offering, BGC Partners (NASDAQ:BGCP) agrees to purchase Sunrise Brokers Group. The outfit last year was voted Number One Equity Products Broker of the Year by Risk magazine for the ninth straight year, and Number One Equity Exotic Derivates for the 13th consecutive year.
- Terms of the deal were not disclosed. Sunrise had roughly $90M of revenue in 2015.
Wed, Apr. 27, 8:14 AM
Tue, Apr. 26, 5:30 PM
- ACCO, AGCO, ANTM, AOS, AVY, BA, BEN, BGCP, BHI, BOKF, BSX, CFR, CMCSA, CSL, DHX, DPS, DX, EVER, EVR, FDML, FI, GCI, GD, GIB, GPI, GRA, GRMN, GT, HES, HLT, IART, IP, JLL, LDOS, LEA, LLL, LRN, MDLZ, MKTX, MVIS, NAP, NDAQ, NEO, NMR, NOC, NS, OC, OSIS, PB, RDN, RES, ROK, ROL, SAIA, SC, SIX, SLAB, SLGN, SMED, SO, SONS, STM, STNG, STT, SUP, SXC, TGNA, TKR, TPH, UMC, UTX, VLY, WEX, WOOF
Tue, Apr. 5, 9:29 AM
- Steve McMurray replaces Graham Sadler as BGCP CFO, effective yesterday. Sadler on February 11 announced his intention to retire.
- McMurray was most recently director of finance at insurance provider Amlin, and prior to that was chief financial accountant at the Bank of England.
- Now read: Exciting Future For BGC Partners
Thu, Mar. 31, 4:22 PM
Fri, Feb. 26, 12:36 PM
- The company opens a new unsecured agreement for revolving loans of up to $150M, with the option to boost that number to $200M. The interest rate will be Libor plus a margin of 50-250 basis points, depending on the firm credit rating.
- BGCP also expects to receive more than $760M in additional Nasdaq stock over time which is not yet reflected on the balance sheet.
- Taken together with liquidity already on the balance sheet, the company has more than $1.9B of dry powder with which to build staff, make acquisitions, pay dividends, repurchase stock, and/or pay down debt.
Wed, Feb. 10, 8:38 AM
Wed, Feb. 10, 8:16 AM
Tue, Feb. 9, 5:30 PM
Tue, Jan. 19, 4:09 PM
- Prior to BGC Partners' (NASDAQ:BGCP) acquisition of GFI Group last year, GFI's 2018 senior notes were subject to a 200 basis point penalty thanks to the cumulative effect of downgrades.
- With BGC fully guaranteeing the paper, the ratings agencies have been upgrading. The latest allows a cut of 25 basis points to 8.375% and reduces consolidated interest costs by another $600K.
- In total since the purchase, the interest rate has been cut 200 basis points, with annual interest savings of $4.8M.
Dec. 31, 2015, 9:53 AM
- BGC Partners (BGCP -0.3%) updates its Q4 outlook, which includes its majority-owned division, GFI Group. Revenues for distributable earnings should be above the low end ($685M) of the range of its previously announced guidance while its pre-tax distributable earnings will be around the mid-point ($92.5M). The updated outlook includes GFI and reflects strong double-digit yoy growth in Real Estate Services. The previous guidance also assumed a full quarter of revenues and profits from Trayport, which was sold on December 11.
- The Q4 guidance issued on October 28 projected distributable earnings of $685M - 725M compared to $515.5M (+32.9 - 40.6%) and pre-tax distributable earnings of $85M - 100M compared to $72.6M (+17.1 - 37.7%).
- The company expects to pay a net tax rate of 10% or less in the Trayport deal compared to its previous estimate of 15% or less. The one-time gain will be reflected in its GAAP consolidated results but will be excluded from distributable earnings.
Nov. 24, 2015, 2:18 AM
- New York Attorney General Eric Schneiderman is clamping down on "spoofing," issuing subpoenas to interdealer brokers BGC Partners (NASDAQ:BGCP), TFS-ICAP (OTCPK:IAPLY), GFI Group (NYSE:GFIG) and Tullett Prebon Financial Services (OTC:TULLY).
- The investigation is focused on placing offers with the intent to cancel them before they trade in order to trick other investors by creating the illusion of demand.
- Earlier this month, high-frequency trader Michael Coscia became the first person to be found guilty of spoofing in a landmark criminal case.
Nov. 17, 2015, 5:38 PM