UPDATE 1-FMX-owner BGC's profit jumps on rates, energy trading [Yahoo! Finance]
BGC Group, Inc. - Class A (BGC)
Last bgc group, inc. - class a earnings: 8/2 04:20 pm
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Source: Yahoo! Finance
April 30 (Reuters) - BGC Group's first-quarter profit nearly doubled, it said on Tuesday, as investors looking to navigate the uncertainty around monetary policy pushed trading volumes higher in the brokerage's rates and energy businesses. The strong report comes less than a week after the company's FMX exchange, which is looking to take on derivatives trading giant CME Group, secured a minority investment from 10 financial market giants including Bank of America, Goldman Sachs and JPMorgan Chase. "We have built the fastest growing U.S. Treasury platform and now with the support of our partners, FMX is the only competitor to CME," BGC Chief Executive Howard Lutnik told analysts on a call. The partners invested $172 million, valuing FMX at $667 million. Lutnik said the move will help to increase market share in Treasury and foreign exchange as the investment is a validation of "our technology and our vision to reshape the U.S. interest rate markets." BGC's shares fell 3.5% to
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BGC
News
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- Brazil markets fall as central bank split decision triggers concern about dovish turn [Reuters]Reuters
- Is BGC Group, Inc. (BGC) Outperforming Other Finance Stocks This Year? [Yahoo! Finance]Yahoo! Finance
- Here's Why Momentum in BGC Group (BGC) Should Keep going [Yahoo! Finance]Yahoo! Finance
BGC
Earnings
- 5/1/24 - Miss
BGC
Sec Filings
- 5/9/24 - Form 10-Q
- 5/8/24 - Form 4
- 4/30/24 - Form 8-K
- BGC's page on the SEC website