United States

BGC Partners Inc (BGCP.OQ)

BGCP.OQ on NASDAQ Stock Exchange Global Select Market

25 May 2017
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Latest Key Developments (Source: Significant Developments)

BGC Partners Q4 earnings per share $0.06
Thursday, 9 Feb 2017 08:00am EST 

BGC Partners Inc : BGC Partners reports fourth quarter and full year 2016 financial results . Q4 revenues $673.2 million, down 0.2 percent; Q4 earnings per share $0.06 . On Feb 7, Board, Audit Committee increased co’s share repurchase, unit redemption authorization by $170.3 million to $300 million .For Q1 2017, co sees revenues of between about $655 million and $700 million; Q1 revenue view $675.7 million -- Thomson Reuters I/B/E/S.  Full Article

BGC Partners announces confidential submission of draft registration statement
Thursday, 9 Feb 2017 07:45am EST 

Bgc Partners Inc : BGC partners announces confidential submission of draft registration statement for proposed initial public offering of its real estate services business .Number of class A shares to be offered and price range for proposed offering have not yet been determined.  Full Article

BGC Partners updates its outlook for Q3 2016
Friday, 30 Sep 2016 06:00am EDT 

Bgc Partners Inc : Now expects its revenues for period to be slightly below low end of range of its previously stated guidance .Expects Q3 pre-tax distributable earnings to be around mid-point of range of its previously stated guidance.  Full Article

BGC Partners announces agreement to buy Perimeter Markets
Thursday, 25 Aug 2016 01:16pm EDT 

BGC Partners Inc : BGC Partners announces agreement to acquire Perimeter Markets Inc, an operator of electronic trading platforms in Canada . Details of transaction were not disclosed .Has entered into an agreement to acquire Perimeter Markets Inc.  Full Article

BGC Partners reports Qtrly GAAP EPS $0.06
Thursday, 28 Jul 2016 08:00am EDT 

Bgc Partners Inc [BGCP.O] : Qtrly gaap earnings per share $0.06 . Anticipates third quarter of 2016 revenues of between $655 million and $695 million . Qtrly pre-tax distributable earnings per share $0.22 . Bgc partners reports second quarter 2016 financial results . Qtrly revenues under both U.S. Gaap and distributable earnings $652.0 million versus. $669.1 million last year . Qtrly post-tax distributable earnings per share $0.19 .Expects q3 pre-tax distributable earnings before noncontrolling interest in subsidiaries and taxes to be in range of $99 to $115 million.  Full Article

BGC Partners to acquire Sunrise Brokers
Tuesday, 19 Jul 2016 01:45am EDT 

Bgc Partners Inc : Bgc partners announces agreement to acquire sunrise brokers, a leading financial brokerage for equity derivatives .Details of transaction were not disclosed.  Full Article

BGC Partners announces pricing of $300 mln of 5.125% senior notes due 2021
Wednesday, 25 May 2016 09:00am EDT 

BGC Partners Inc : Announces pricing of $300 million of 5.125% senior notes due 2021 .Says pricing of its offering of $300 million aggregate principal amount of 5.125% senior notes.  Full Article

BGC Partners says announces offering of senior notes
Tuesday, 24 May 2016 09:19am EDT 

BGC Partners Inc - : To use net proceeds for repayment in full of BGC's 4.50% convertible notes scheduled to mature on July 15, 2016, fund future acquisitions .BGC announces offering of senior notes.  Full Article

BGC Partners Inc - GFI shareholders may pursue lawsuit over aborted merger -judge - Reuters
Tuesday, 9 Feb 2016 03:24pm EST 

BGC Partners Inc:Shareholders of the former GFI Group Inc may pursue a lawsuit accusing two top executives of fraudulently causing them to sell their stock prematurely as part of a plan to take the firm's main brokerage unit private, a federal judge ruled on Tuesday. - RTRS.U.S. District Judge William Pauley in Manhattan said former GFI Chairman Michael Gooch, former Chief Executive Colin Heffron and the company must face claims of improperly touting its sale to CME Group while spurning a more shareholder-friendly bid from Howard Lutnick's BGC Partners.CME had agreed on July 30, 2014, to buy GFI for $4.55 per share, a 46 percent premium at the time, with the intent of keeping some units and spinning off the wholesale brokerage to a group led by GFI management.But GFI became the target six weeks later of a $5.25-per-share hostile takeover from BGC, prompting a bidding war that ended with New York-based BGC agreeing in a tender offer to pay $6.10 per share.GFI shareholders led by Benjamin Gross, who sought class-action status, claimed they missed the initial run-up by selling their shares during the six-week period, having been led to believe the original CME bid would not be topped.BGC and a lawyer for GFI Group did not immediately respond to requests for comment. Tariq Mundiya, a lawyer for Gooch and Heffron, declined to comment.  Full Article

BGC Partners Inc - Citigroup Inc reaches $23 mln 'ice breaker' yen Libor settlement - Reuters
Tuesday, 2 Feb 2016 10:48am EST 

Citigroup Inc:Citigroup Inc will pay $23 mln to end private U.S. antitrust litigation claiming that it conspired to manipulate the yen Libor and Euroyen Tibor benchmark interest rates - RTRS.Lawyers for the plaintiff investors called the accord an "ice breaker" that could spur some of the roughly 20 other bank defendants to settle. Settlement papers were filed on Monday night in the U.S. District Court in Manhattan. Court approval is required - RTRS.RP Martin, a brokerage whose main assets are now part of BGC Partners Inc, also settled, without making a payment. Citigroup and RP Martin agreed to cooperate in the litigation - RTRS.Danielle Romero-Apsilos, a Citigroup spokeswoman, said the New York-based bank is pleased to settle - RTRS.Among the other defendants are several Japanese banks, including Mitsubishi UFJ Financial Group Inc and Sumitomo Mitsui Trust Holdings Inc, as well as Barclays Plc, Deutsche Bank AG , HSBC Holdings Plc, JPMorgan Chase and UBS AG - RTRS.Former Citigroup trader Tom Hayes is serving 11 years in prison after being found guilty in London last August of conspiring to rig Libor - RTRS.Nonetheless, the bank's "limited involvement" in the overall scheme may have spurred its settlement, the plaintiffs' lawyer Vincent Briganti said in an interview. - RTRS."An early settlement with Citigroup made sense." In court papers, Briganti called the accord an "ice breaker" that "serves as a potential catalyst for other defendants to settle." - RTRS.  Full Article

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BGC readies U.S. Treasuries e-trading platform for June launch

NEW YORK BGC Partners Inc plans to launch a new electronic trading platform for U.S. Treasuries by the end of June, four years after selling a similar business to exchange operator Nasdaq Inc , an executive at the brokerage said on Tuesday.