BGC Partners Inc (BGCP.O) Key Developments |
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BGC Partners Inc (BGCP.O)

BGCP.O on Nasdaq

1 Jul 2016
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Latest Key Developments (Source: Significant Developments)

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

BGC Partners Inc completes full merger with GFI Group
Tuesday, 12 Jan 2016 04:01pm EST 

BGC Partners Inc:Completed its merger with GFI Group Inc.  Full Article

BGC Partners Inc says Newmark Grubb Knight Frank Acquires Steffner Commercial Real Estate d/b/a Newmark Grubb Memphis
Monday, 11 Jan 2016 08:00am EST 

BGC Partners Inc:Says its Newmark Grubb Knight Frank Acquires Steffner Commercial Real Estate d/b/a Newmark Grubb Memphis.Financial details of the transaction, which closed in mid-December, were not disclosed.  Full Article

BGC Partners Inc - NY probing alleged 'ghosting' of forex options - source - Reuters
Monday, 23 Nov 2015 12:35pm EST 

BGC Partners Inc:New York Attorney General Eric Schneiderman's office is investigating the posting of false bids and offers in the foreign exchange options market for emerging market currencies, a person familiar with the matter said on Monday - RTRS.The person, who spoke on condition of anonymity, said subpoenas were issued last week to four brokerages: BGC Partners, GFI Group, TFS-ICAP and Tullett Prebon Financial Services - RTRS.U.S. authorities have increased their scrutiny of so-called 'ghosting' or 'spoofing,' in which a trader tries to create a false appearance of market interest in a stock, commodity or other asset by placing orders and then immediately canceling them - RTRS.Authorities say such orders can be manipulative - RTRS.Representatives of BGC, ICAP and Tullett Prebon declined to comment. GFI is majority-owned by BGC - RTRS.Shares of each of the publicly traded companies were trading lower on Monday, in a broadly flat market - RTRS.Besides false orders, other tactics in the foreign exchange market have led to billions of dollars in settlements with investors - RTRS.regulators. U.S. and European regulators have extracted more than $10 billion in settlements with seven banks for failing to stop traders from trying to manipulate foreign exchange rates - RTRS.  Full Article

Intercontinental Exchange Inc to acquire Trayport from BGC Partners and GFI Group for $650 million in stock
Monday, 16 Nov 2015 07:30am EST 

Intercontinental Exchange Inc:To acquire Trayport from BGC Partners and GFI for $650 million in stock.Says agreement was unanimously approved by the boards of directors of both companies.Says ICE anticipates an immaterial impact to 2016 adjusted earnings per share.Purchase price will be paid with 100% equity consideration comprising approximately 2.5 million shares of ICE common stock.$650 million purchase price will be paid with 100% equity consideration comprising approximately 2.5 million shares of ICE common stock.  Full Article

BGC Partners gives FY 2015 pretax earnings guidance
Wednesday, 29 Jul 2015 10:00am EDT 

BGC Partners:Sees FY 2015 pretax earnings of between $80 million and $95 million.  Full Article

BGC Partners' Newmark Grubb Knight Frank to Acquire Excess Space Retail Services Inc
Monday, 18 May 2015 08:43am EDT 

BGC Partners:Enters into an agreement to acquire Excess Space Retail Services, Inc.Excess Space is a premier provider of real estate disposition, lease restructuring and lease renewal services, as well as related valuations for retailers nationwide and currently advises on 35.6 million square feet of retail space in North America.Upon close, the acquisition is expected to complement and drive future growth opportunities within Newmark Grubb Knight Frank Global Corporate Services.Financial details of the transaction were not disclosed.  Full Article