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bgc partners investor relations
Statements in this document regarding BGC that are not historical facts are "forward-looking statements" that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. BGC's advisory release will notify the public that a full-text financial results press release will be accessible at https://ir.bgcpartners.com. We will be referring to our results on this call only on an adjusted earnings basis unless otherwise stated you may also refer to adjusted EBITDA. , . ET. And we anticipate our pre-corporate conversion adjusted earnings tax rate to be in the range of 5% to 8% versus 7.3% for full year 2022. , , , , , , Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American, https://www.linkedin.com/company/bgc-partners, http://ir.bgcpartners.com/Investors/default.aspx, BGC Partners Updates its Outlook for the Second Quarter of 2023 and Provides an Update on the Corporate Conversion. It is also available at http://ir.bgcpartners.com/, along with BGC's quarterly results investor presentation and supplemental Excel financial tables. TRACK DOCKET: No. Jobs. Please that you can find additional details on our quarterly results in today's press release and investor presentation. I guess first question is Howard, I know you -- the -- first the -- what do you call it second quarter to date is still up -- the guidance is up 9% for the second quarter. But the soft launch is just the beginning of onboarding as many clients as we possibly can. BGC Partners, Inc. ("BGC") is a leading global brokerage and financial technology company. So I become -- as we get closer and closer I feel our popularity is rising. BGC Partners Completes Corporate Conversion to Full C-Corporation, Name For GFIs financial press releases from prior periods, please click here. By signing up you agree to receive content from us. 2023-0659 An investor sued BGC Partners Inc. over concerns that Cantor Fitzgerald LP and its billionaire chairman, Howard Lutnick, are trying to increase their controlling stake by reorganizing the brokerage's "up-C" structure at the expense of public investors. That process we will begin straight away upon CFTC approval. And if it's just sorted ordinarily, I think the scale of issuance of the US deficit is so large that volumes were at interest rates and then around 5% are just going to continue to improve. But when we look at volumes, CME volumes are down pretty strongly compared to the first quarter? ET. I think that's a discussion with them, whether it's certainly before the full launch maybe before the soft launch or it may be somewhere after the soft launch but well before the full launch. Annual Report. Privacy Statement To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. These include statements about the effects of the COVID-19 pandemic on the Company's business, results, financial position, liquidity and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. As you can see from today's results, it is an exciting time to be part of BGC. NEW YORK, NY - July 3, 2023 - BGC Group, Inc. (Nasdaq: BGC) ("BGC Group," "BGC" or the "Company"), a leading global brokerage and financial technology company (formerly BGC Partners, Inc.), today announced that it has completed its corporate conversion to a Full C-Corporation. BGC, BGC Trader, GFI, Fenics, FMX, Fenics Market Data, kACE2, Fenics GO, Capitalab, and Lucera are trademarks/service marks and/or registered trademarks/service marks of BGC and/or its affiliates. Check the background of our Firm on FINRAs BrokerCheck. BGC's customers include many of the world's largest banks, broker-dealers, investment banks, trading firms, hedge funds, governments, corporations, and investment firms. And as we've said, it won't mitigate it entirely but it will mitigate it somewhat. American Stock Transfer 6201 15th . Independent, growth-oriented investors since 1986. A webcast replay of the conference call is expected to be accessible at https://ir.bgcpartners.comwithin 24 hours of the live call and will be available for 365 days following the call. BGC, through its various affiliates, also provides a wide variety of services, including trade execution, brokerage, clearing, trade compression, post-trade, information, and other back-office services to a broad range of financial and non-financial institutions. BGC plans to issue an advisory press release regarding the availability of its consolidated quarterly financial results by 8:00 a.m. Thank you, Sean, and hello, everyone. [Operator Instructions] As a reminder this conference is being recorded. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. Jason McGruder | Newmark NEW YORK, Feb. 27, 2023 /PRNewswire/ -- BGC Partners, Inc. (Nasdaq: BGCP) ("BGC"), a leading global brokerage and financial technology company, today reported its financial results for the quarter and year ended December 31, 2022. Head of Investor Relations 499 Park Ave, New York, NY 10022 . With respect to FMX progress continues with the CFTC on the final approval of our Futures Exchange and we intend to announce our strategic partners prior to the launch. NEW YORK, July 5, 2022 /PRNewswire/ -- BGC Partners, Inc. (Nasdaq: BGCP) ("BGC"), a leading global brokerage and financial technology company, today announced the details regarding its second quarter 2022 financial results conference call. I think we'd rather give a holistic view of both our tax rate will go up. Check the background of our Firm on FINRAs BrokerCheck. Conference call scheduled for Tuesday, May 3, 2022, at 8:00 a.m. We will receive CFTC approval. Accessing the world of private markets. This call will take place on Tuesday, May 3, 2022, at 8:00 a.m. Thank you for joining us this morning. Cision Distribution 888-776-0942 Financial Reporting. Additionally, call participants may dial in with the following information: About BGC Partners, Inc.BGC Partners, Inc. ("BGC") is a leading global brokerage and financial technology company. +1 212-610-2426 View original content to download multimedia:. A webcast replay of the conference call is expected to be accessible at https://ir.bgcpartners.com within 24 hours of the live call and will be available for 365 days following the call. Investor Relations - GFI Group BGC, through its various affiliates, also provides a wide variety of services, including trade execution, brokerage, clearing, trade compression, post-trade, information, and other back-office services to a broad range of financial and non-financial institutions. Banc of California is California's premier, relationship-focused, full-service business bank. May 11, 2023 Fenics had a record quarter with market-leading revenue growth of 12% or over 14% in constant currency, representing over 26% of our total revenue in the first quarter. Following receipt of regulatory approvals and subject to other customer closing conditions, including shareholder approval, all of which are expected to be satisfied, we currently expect to close the corporate conversion effectively immediately after closing of BGC's second quarter on June 30, 2023. ET. We will receive -- we know no reason, why we won't receive CFTC approval -- and we will work through that process over the coming months. Investor Relations | Inari Medical, Inc. BGC's constant currency movements assume foreign exchange rates used to terminate company's prior period revenues applied to the current period revenues. We've got meaningful interest rates around the world and we've been expecting that healing process meaning volumes are starting to be more head towards more consistency to issuance. Entering text into the input field will update the search result below. Additional information regarding the interests of such potential participants in the solicitation of consents in connection with the corporate conversion transactions will be included in the consent solicitation statement/prospectus and other relevant materials filed with the SEC when they become available. The process of BGC's growth as we head towards trading volumes growing more in line with really incredibly large fixed income issuance will continue to underpin BGC's growth going forward. I think we -- the process that we're in is we are hustling to get this done at the end of the quarter, and while the voting process is taking place that does constrain the things that we will say. Please. BGC is led by Chairman of the Board and Chief Executive Officer Howard W. Lutnick. BGC Partners Rebrands and Transforms to C-Corp As of March 30, our liquidity was $534.8 million compared with $524.3 million as of year-end 2022. Head of Investor Relations 499 Park Ave, New York, NY 10022 . It's always a possibility. We do. The definitive consent solicitation statement/prospectus will be sent to the stockholders of the Company. We expect the growth of these recurring revenue businesses to continue to outperform the industry. For more information, please visit http://www.bgcpartners.com. Energy and commodities increased by 8.8% and 9.5% in constant currency and equities increased by 1.5% and by 3.5% in constant currency. Corporate Conversion Agreement Information. Howard W. Lutnick, Chairman of the Board and Chief Executive Officer of BGC, said: "With the execution of these agreements the Company will move rapidly with its conversion to a simpler, more transparent corporate structure. BGC Partners, Inc. (BGCP) Q1 2023 Earnings Conference Call May 3, 2023 10:00 AM ET, Jason Chryssicas - Head, Investor Relations, Howard Lutnick - Chairman & Chief Executive Officer. Type a symbol or company name. 86% of retail CFD accounts lose money, Second Quarter 2022 financial results conference call, Wednesday, August 3, 2022, at 10:00 a.m. You will receive an email shortly. Hugo Prunier - Investor Relations - Horizon Capital AG | LinkedIn Moving on to expenses. Please proceed with your question. Are there any more questions, or I'll just wrap up. This growth reflects the strength of our comprehensive Fenics offerings and conversion of our voice hybrid volumes to our higher-margin technology-driven Fenics businesses. The Corporate Conversion Agreement contains certain termination rights, including, among others, the right of the parties to terminate the Corporate Conversion Agreement if the corporate conversion transactions have not been consummated on or prior to May 15, 2023 and in the event of certain tax events. Charity Day 2023 Applications are LIVE, May 10, 2022 To read this article on Zacks.com click here. By asset class, rates increased by 3.7% and 6.6% in constant currency. Is that -- is this just a momentary pause to pull back? E: investors@nmrk.com P: 212-829-7124. BC Partners is an established leader in upper middle market alternative investment, with 35 years as a leading pan-European buyout investor, and deep networks across Europe and North America. Copy and paste multiple symbols separated by spaces. Investor Relations Hotline +1 212 829 7124. Notices for California Consumers Subject to the California Consumer Privacy Act You can also follow BGC at https://twitter.com/bgcpartners, https://www.linkedin.com/company/bgc-partners and/or https://ir.bgcpartners.com/Investors/default.aspx. NEW YORK, Feb. 27, 2023 /PRNewswire/ -- BGC Partners, Inc. (Nasdaq: BGCP) ("BGC"), a leading global brokerage and financial technology company, today reported its financial results for the. BGC will host a conference call on Wednesday, August 3, 2022, at 10:00 a.m. BGC's Class A common stock trades on the Nasdaq Global Select Market under the ticker symbol "BGCP". BGC Partners, Inc. (BGC) is a financial brokerage and technology company. The first quarter saw growth across each of our business lines. Privacy Statement Notices that are not historical facts are "forward-looking statements" that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. Zacks->. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Participants who have not pre-registered may join the webcast by accessing the link at https://ir.bgcpartners.comor the call using the following information. You will receive an email shortly. We issued BGC's first quarter 2023 financial results press release and the presentation summarizing these results this morning prior to market open. Cantor Fitzgerald / BGC Partners / GFI / Newmark Careers - Jobs Sign up to get PRNs top stories and curated news delivered to your inbox weekly! These include statements about the effects of the COVID-19 pandemic on the Company's business, results, financial position, liquidity and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. In the past month, GAINs shares have rallied 11.7%. We believe increasing simplicity, while reducing operational complexity, will deliver tremendous value to BGC. BGC Partners Rebrands as BGC Group and Transforms to C-Corp - TradingView We expect issuance to be up big for the rest of probably the rest of my life and that's our expectation. But so far, I haven't attended that, yet. If I could sneak one more in here. Again, I acknowledge the year-over-year numbers the guidance you put out is strong. Investors - Partnersgroup Data software and post-trading revenues improved by 12.4% driven by Fenics Market Data and Lucera. These symbols will be available throughout the site during your session. BGC Partners Completes Corporate Conversion to Full C - Benzinga Quarterly Results. BGC presents revenue comparisons on a constant currency basis in order to present a better comparison of the company's revenues during the period, which exhibited volatile foreign exchange movements. The Nasdaq Global Select Market ticker symbol for the company will be changed to BGC.Following the completion of certain conversion steps and related transactions, stockholders and employees of the company, and the former limited partners of BGC Holdings, L.P. will participate in the economics of the BGC businesses through the ownership of Class A common stock, Class B common stock, and incentive equity instruments in a single publicly traded corporation.The agreement has been approved by the board of directors of the company at the recommendation of the independent audit committee and the independent compensation committee of the board.Howard W. Lutnick, the chairman and chief executive officer of BGC Partners, said, With the execution of these agreements the Company will move rapidly with its conversion to a simpler, more transparent corporate structure. Management Comments Howard W. Lutnick, Chairman of the Board and Chief Executive Officer of BGC, said: "Today represents an important step for BGC, with its conversion to a simpler, more. Pre-registration may be completed at any time by accessing the pre-registration link on BGC Partners' Investor Relations website, https://ir.bgcpartners.com, or by navigating to https://www . Customer Privacy Notice When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Our funds and mandates allow qualified investors to achieve attractive returns from private equity, private debt, private real estate and private infrastructure investments. Contact information for GFI offices, companies and subsidiaries in over 22 countries across the globe. The Independent Joint Committee has been advised by its own financial and legal advisors. GFI is a global leader in providing a wide range of solutions for execution in both listed and OTC equities and equity derivatives, with connections to all major exchanges. Notices Fenics offerings include FedEx markets and Fenics growth platforms. So this is just process now. Other includes fees from related parties, interest and dividend income, and other revenues. The Company does not undertake to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Thanks, and good day, everyone. So our expectation is as soon as the voting process is complete, we will come out with a complete model but it is we are constrained while this process is taking place. Yeah. Jun 26, 2023 Cboe Global Markets Advances 50th Anniversary Charitable Commitment and Announces $100,000 Donation to Human Rights Watch. GFI Investor Relations GFI is majority-owned by, and operates as a division of, BGC Partners Inc., (NASDAQ: BGCP,) a leading global brokerage company servicing the financial and real estate markets. BGC, through its various affiliates, specializes in the brokerage of a broad range of products, including Fixed Income (Rates and Credit), Foreign Exchange, Equities, Energy and Commodities, Shipping, and Futures. BGC Group will file with the SEC a registration statement on Form S-4, which will include a consent solicitation statement of the Company and a prospectus of BGC Group, and any other documents in connection with the corporate conversion transactions. These include statements about the effects of the COVID-19 pandemic on the Company's business, results, financial position, liquidity and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. We expect the majority of our share repurchases to take place in the second half of the year. Houlihan Lokey, Inc. is serving as financial advisor and Debevoise & Plimpton LLP is serving as legal advisor to the Independent Joint Committee in connection with the transactions. This communication shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to appropriate registration or qualification under the securities laws of such jurisdiction. Currently, BGCP carries a Zacks Rank #2 (Buy).A couple of other top-ranked stocks from the finance space are Ares Capital Corporation ARCC and Gladstone Investment Corporation GAIN.The Zacks Consensus Estimate for Ares Capitals current-year earnings has moved 6.2% higher over the past 30 days. Also, it will change its name from BGC Partners, Inc. to BGC Group, Inc. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see BGC's Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K. Media Contact:Karen Laureano-Rikardsen+1 212-829-4975, Investor Contact:Jason Chryssicas+1 212-610-2426, View original content to download multimedia:https://www.prnewswire.com/news-releases/bgc-partners-first-quarter-2022-financial-results-announcement-to-be-issued-after-market-close-on-monday-may-2-2022-301525401.html, Plus500. BGC Partners, the global brokerage and financial technology company, has announced the completion of its corporate conversion to a full C-Corporation. Help. Please confirm your email address by clicking the link inside. Today, you can download 7 Best Stocks for the Next 30 Days. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. 2023, Nasdaq, Inc. All Rights Reserved. Thank you for your interest in BGC Group. So I think we're in a good spot pretty much either way. This call will take place on Wednesday, August 3, 2022, at 10:00 a.m. Cantor Exploiting BGC Reorg to Grow Stake, Investor Lawsuit Says We are committed to improving lives in extraordinary ways by creating innovative solutions for both unmet and underrecognized health needs. Founded in New York in 1987, GFI provides competitive wholesale market brokerage services in a multitude of global over-the-counter (OTC) and exchange listed cash and derivatives markets. Portugus (Brasil) Nederlands. If you are a stockholder or bondholder of GFI, please visit BGC Partners Investor Relations where you can find recent and historical SEC filings for GFI under Financial Reports & Filings, as well as GFIs financial press releases for periods after March 2, 2015. . Our compensation and employee benefits under both GAAP and adjusted earnings increased by 3.9%. You will receive an email shortly. Following the execution of the Corporate Conversion Agreement, Cantor entered into a Support Agreement with the Company to approve the corporate conversion transactions. So with that operator, we'd be happy to open the call for questions. A complete and full-text financial results press release, including information about today's financial results conference call and BGC's most recent dividend declaration, is accessible at the "Investors & Media" section under either "Investor Relations" or "BGC Press Releases" at http://www.bgcpartners.com. Investor Relations & Corporate Communications Manager . Copyright 2023. Telephone: +1 (212) 610-2426 . Our Careers website is currently being upgraded and will return shortly. Certain revenue figures provided for the current period as indicated. Okay. ET on Wednesday, August 3, 2022. BGC, BGC Partners, BGC Trader, GFI, GFI Ginga, CreditMatch, Fenics, Fenics.com, FMX, Sunrise Brokers, Poten & Partners, RP Martin, kACE2, Capitalab, Swaptioniser, CBID, Caventor, LumeMarkets and Lucera are trademarks/service marks and/or registered trademarks/service marks of BGC and/or its affiliates. We look forward to speaking to you soon. BGC, through its various affiliates, specializes in the brokerage of a broad range of products, including Fixed Income (Rates and Credit), Foreign Exchange, Equities, Energy and Commodities, Shipping, and Futures. ET. ET. EX-99.1 - SEC.gov We started the second quarter up 9%. Unless otherwise stated any historical results provided on today's call compare only the first quarter of 2023 with the prior year period. GFI ForexMatch, GFIs award-winning central limit order book (CLOB) marketplace for FX derivatives, offers multiple trading choices to ensure best execution for clients and brokers. Zacks Equity Research for It is not. An independent intermediary in typically highly specialised markets, GFI can assist the buy and sell sides by providing them with hard-to-find, independent and comprehensive real-time and historical data. Transfer Agent . For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see. Bgc Partners' Second Quarter 2022 Financial Results Announcement to Be BGC is led by Chairman of the Board and Chief Executive Officer Howard W. Lutnick. Thank you. Cantor Fitzgerald is a proven capital markets investment banking, real estate investment management, debt origination, and private equity firm. BGC Partners : Shareholders Board Members Managers and Company Profile Credit increased by 6.7% and 9% in constant currency. Additionally, call participants may dial in with the following information: BGC Partners, Inc. ("BGC") is a leading global brokerage and financial technology company. Through its brands, including FMX, Fenics, Fenics Market Data, Fenics GO, BGC, BGC Trader, Capitalab, and Lucera, BGC offers financial technology solutions, market data, and analytics related to numerous financial instruments and markets. Our revenue grew by 5.2% to $532.9 million in the first quarter of 2023, as our trading volumes increased following the end of zero interest rates. We feel good and we look forward to speaking to you and updating you as we finish the corporate conversion going forward. Yes. ET for investors. Disclaimers and Legal Information Additional information with respect to our GAAP and non-GAAP results mentioned on today's call is available on our website at ir.bgcpartners.com. 0. BGC will host a conference call on Tuesday, May 3, 2022, at 8:00 a.m. A recent research note estimated that if BGC's included in the S&P 600 alone this could translate into 40 million shares of pass demand. As part of this transition, the company will now be known as BGC Group, Inc. and has updated its Nasdaq ticker symbol from 'BGCP' to 'BGC'. Over more than 25 years, GFI has expanded both organically and through acquisitions into a broad range of markets, including fixed income derivatives, cash fixed income, emerging market financial products, energy and commodity derivatives, and equities. BGC's customers include many of the world's largest banks, broker-dealers, investment banks, trading firms, hedge funds, governments, corporations, and investment firms. With that, I'd like to turn the call over to Jason. The foregoing risks and uncertainties may cause actual results and events to differ materially from the forward-looking statements. For more information, please visit https://www.bgcpartners.com. Except as required by law, undertakes no obligation to update any forward-looking statements. Currently, ARCC carries a Zacks Rank #2. Additionally, our renewable energy and ship chartering business saw strong double-digit growth driving our Energy and Commodities business higher. Thank you for your interest in BGC Group. Wachtell, Lipton, Rosen & Katz is serving as the Company's legal advisor in connection with the transactions. Do Not Sell My Personal Information (CA Residents Only). And when we have sufficient clients onboarded to have a broad-based opening, we will then say we are having our official launch. Participants are encouraged to pre-register for the conference call to gain immediate access to the call and bypass the live operator. ET. BGC's Class A common stock trades on the Nasdaq Global Select Market under the ticker symbol "BGCP". EVERCORE INC. Harris Gail Block : 0001209191-23-037853.pdf. Except as required by law, BGC undertakes no obligation to update any forward-looking statements. We expect to generate total revenue of between $450 million and $500 million as compared to $435.8 million last year.