BGCP Stock Price, News & Analysis

BGC Partners' Fenics GO was awarded the 2021 OTC Trading Platform of the Year by Risk.net, recognizing its innovative electronic trading capabilities. Launched in 2019, Fenics GO facilitated approximately 4.5 million Euro Stoxx options with a notional value exceeding $80 billion in 2020. The platform uniquely combines voice trading familiarity with electronic processing, enhancing transparency and efficiency. This award follows another win in December 2020 for Trading and Execution Solution of the Year, showcasing BGC's commitment to developing cutting-edge trading solutions.

Capitalab, a division of BGC Brokers LP and part of BGC Partners (NASDAQ: BGCP), has been awarded the 2021 OTC Infrastructure Service of the Year by Risk.net. This recognition highlights Capitalab's significant contributions to the non-cleared swaptions market and its innovative services aimed at capital optimization. In 2020, Capitalab expanded its offerings, including advanced margin optimization services and FX forward optimization. The award reflects Capitalab's effective solutions that enhance operational efficiency while addressing client needs in the derivatives market.

BGC Partners, Inc. (NASDAQ: BGCP) has scheduled a conference call to discuss its fourth quarter 2020 financial results on February 24, 2021, at 10:00 a.m. ET. An advisory press release will be issued at 8:00 a.m. ET the same day, directing the public to access the full-text financial results. Participants can pre-register for immediate access, and a replay will be available for 365 days post-call. BGC offers a range of brokerage and financial technology services.

BGC Partners' kACE division announced that Banque Pictet & Cie SA has adopted its kACE Treasury system. This integration will allow Banque Pictet to effectively price and distribute FX Forward prices to e-commerce platforms. The solution not only enhances traders' access to pricing information but also automates the customer quoting process. The deployment signifies a strategic enhancement to Banque Pictet's trading technology, aiming for improved service levels and regulatory compliance, as stated by both companies' representatives.

BGC Partners (NASDAQ: BGCP) announced updates regarding its outlook for the fourth quarter of 2020, reaffirming previous projections for revenue and pre-tax Adjusted Earnings. The company employs non-GAAP financial measures such as Adjusted Earnings to evaluate its operational performance, excluding certain non-cash expenses and charges not reflective of ongoing operations. Management believes these metrics provide a clearer picture of financial health. The ongoing impact of the COVID-19 pandemic remains a consideration for the company's balance sheet strength.

BGC Partners' division, kACE, has partnered with Singapore's Sparrow Tech to provide digital asset options solutions. Sparrow will integrate kACE Pro's extensive options libraries for risk analysis into its trading platform. This collaboration leverages kACE's 30 years of expertise in FX options, addressing growing demand in the crypto market. According to Sparrow's CEO, this marks a significant step toward becoming a trusted partner in digital asset options. The partnership is supported by notable investors like Signum Capital and Hyperchain Capital.

GFI Asia Partners Pte. Ltd, a subsidiary of BGC Partners (NASDAQ: BGCP), announced a majority stake in a new joint venture, GFIGS Commercial Consulting (Shanghai) Co., Ltd, focusing on OTC derivatives brokerage in China. Partnering with Guizhou Big Data Capital, GFIGS aims to utilize GFI's expertise in Iron Ore derivatives. The venture is poised to expand into additional products, leveraging China’s significant iron ore trading market, which is over 20 times larger than the offshore sector. This collaboration is expected to drive GFI's growth in the Chinese market.

BGC Partners (NASDAQ: BGCP) announced a new services agreement between Capitalab and CLS Group, aimed at enhancing FX optimisation services. The collaboration will leverage CLS's data for improving multilateral compression services across various currencies, addressing systemic risks in the FX market. Gavin Jackson and David Bachelier, co-founders of Capitalab, highlighted the potential for innovative solutions and risk mitigation. This partnership aims to improve capital efficiency and simplify the management of derivatives, as stated by CLS's Global Head of Product, Keith Tippell.

BGC Partners (NASDAQ: BGCP) announced that mBank, Poland's fully Internet-based bank, has chosen kACE Treasury to enhance its FX product pricing and distribution. kACE Treasury will integrate with mBank's existing treasury systems, facilitating seamless operations. The bank will offer 54 currency pairs, utilizing kACE's accurate pricing models for competitive trading. This partnership reflects BGC's commitment to expanding its treasury solutions following the acquisition of Kalahari, focusing on automation and robust e-commerce capabilities.