bgc partners investor relations
On a constant currency basis, our revenue was up 7% versus a year ago. About BGC Partners, Inc.BGC Partners, Inc. ("BGC") is a leading global brokerage and financial technology company. The company will be named BGC Group Inc. and its shares of Class A common stock will trade on NASDAQ under our new ticker BGC. Notices We expect BGC's revenue to continue to grow as a relationship between trading volumes and the enormous increase in buy issuance returns following the end of zero interest rates. So that's just a discussion of future. Investor Relations & Corporate Communications Manager . 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. Website Terms of Use However, the Company, BGC Group, and certain of their respective directors, executive officers, other members of management and employees, under SEC rules, may be deemed to be participants in the solicitation of consents in connection with the corporate conversion transactions. RatesMatch offers leading technology for specialist execution services across a breadth of interest rate derivatives and US Treasury bond markets. GFI Direct provides users with an aggregated view of multi-dealer liquidity for FX derivatives. 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. Please note that those not pre-registered may experience greater than normal wait times before joining the live call. You can also follow BGC at https://twitter.com/bgcpartners, https://www.linkedin.com/company/bgc-partners and/or http://ir.bgcpartners.com/Investors/default.aspx. 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. With that, I'd like to turn the call over to Jason. It's always a possibility. You can also follow BGC at https://twitter.com/bgcpartners, https://www.linkedin.com/company/bgc-partners and/or http://ir.bgcpartners.com/Investors/default.aspx. BGCIR@bgcpartners.com . Got it. Please also see the relevant section of the back of today's press release for the complete and updated definitions of any non-GAAP terms, reconciliations of these items to corresponding GAAP results, and how, when, and why management uses such terms. After submitting your request, you . This communication is not a solicitation of consents in connection with the corporate conversion transactions. As of March 30, our liquidity was $534.8 million compared with $524.3 million as of year-end 2022. BGC Partners Rebrands as BGC Group and Transforms to C-Corp - TradingView So this is just process now. My sense is that the CME, which is an extraordinarily important and powerful enterprise in America, will maybe have backroom conversations with CFTC and asking to go a little slower. The Independent Joint Committee has been advised by its own financial and legal advisors. Is it more than just work? Customer Privacy Notice We are confident or maybe even beyond confident that the votes will be achieved since we've spoken to those who are planning to vote positive and that is sufficient to carry the day. On April 6, 2023, BGC Group Inc. filed a registration statement on Form S-4 with the SEC in connection with its previously announced corporate conversion. 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. FX increased by 0.2% and 1% in constant currency. Polski. In 1978, our founder discovered the power of earnings estimate revisions to enable profitable investment decisions. Good morning and thank you for joining us for our first quarter 2023 conference call. Create your Watchlist to save your favorite quotes on Nasdaq.com. BGC Partners, Inc. (BGC) is a financial brokerage and technology company. This growth was driven by higher trading volumes across all our asset classes. So, I'm not expecting things to go swiftly necessarily, as they might otherwise because that's a possibility. Entering text into the input field will update the search result below. Notices for California Consumers Subject to the California Consumer Privacy Act. As you can see from today's results, it is an exciting time to be part of BGC. Privacy Statement GFI is a global leader in providing pricing, liquidity, trading technology and post-trade services for a wealth of fixed income cash and derivatives markets. With that, I'll turn the call over to Sean. Except as required by law, BGC undertakes no obligation to update any forward-looking statements. Greetings and welcome to the BGC Partners' First Quarter 2023 Earnings Call. I don't know it, but that's certainly a possibility. BGC's Class A common stock trades on the Nasdaq Global Select Market under the ticker symbol "BGCP". BGC's customers include many of the world's largest banks, broker-dealers, investment banks, trading firms, hedge funds, governments, corporations, and investment firms. Benchmark Electronics | Investor Relations - Annual Report We issued BGC's first quarter 2023 financial results press release and the presentation summarizing these results this morning prior to market open. These include statements about the affection of COVID pandemic, results financial position liquidity, and outlook. BGC Partners Announces Corporate Conversion Agreement, New Company Name BGC generated a significant amount of its revenues in non-US dollar denominated currencies, particularly the euro and pound sterling. I guess, one other Howard. You may begin. As we expected long-term growth for BGC has begun. Investor Relations at Horizon Capital. Back to the form. Newmark - Financials - Annual and Proxy Reports Its shares have gained 7.6% in the past month. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. BGC Partners Completes Corporate Conversion to Full C - NewsLocker Please note that those not pre-registered may experience greater than normal wait times before joining the live call. We expect to generate total revenue of between $450 million and $500 million as compared to $435.8 million last year. And any incremental update on -- is it the same players that were -- that are potential investors and partners? 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. Our growth has accelerated in the second quarter, with overall revenue up 9% through the first 19 trading days of the quarter. These symbols will be available throughout the site during your session. 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. November 17, 2022 10:19 am EST Written by Zacks Equity Research for Zacks -> BGC Partners, Inc. BGCP entered a corporate conversion agreement to reorganize and simplify its organizational. You will receive an email shortly. Zacks is the leading investment research firm focusing on stock research, analysis and recommendations. I would now like to turn the conference over to your host Jason Chryssicas, Head of Investor Relations for BGC Partners. Sure. Yeah. Our cost savings will mitigate that somewhat. 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. Jobs. And I've yet, to have the meeting where someone said, no, I'm not really interested in participating in the competitor to the CME's monopoly in America. Our depth of resources and financial strength allow us to adapt quickly and thoughtfully, delivering solutions to help our clients achieve their financial goals. Turning to share count. 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 . This call will take place on Tuesday, May 3, 2022, at 8:00 a.m. 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. Good morning, Howard and team, and congrats on the strong quarter. 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. BGC Partners, Inc. ( NASDAQ: BGCP) Q1 2023 Earnings Conference Call May 3, 2023 10:00 AM ET Company Participants Jason Chryssicas - Head, Investor Relations Howard Lutnick - Chairman &. Fenics grew by 12% or 14.4% in constant currency generating a record $140.4 million in the first quarter representing 26.3% of BGC's total revenue. 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. So that is our expectation. BGC's customers include many of the world's largest banks, broker-dealers, investment banks, trading firms, hedge funds, governments, corporations, and investment firms. Yes, I'm sorry, there are no further questions at this time. 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. Independent, growth-oriented investors since 1986. With me today are BGC's Chief Operating Officer, Sean Windeatt; and our Chief Financial Officer, Jason Hauf. 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. I think the desire to participate with us, to be part of FMX either as partners or as clients and users, continues to rise. This call will take place on Wednesday, August 3, 2022, at 10:00 a.m. $24.53. For more information, please visit http://www.bgcpartners.com. Our funds and mandates allow qualified investors to achieve attractive returns from private equity, private debt, private real estate and private infrastructure investments. Under the new structure, following completion of certain conversion steps and related transactions, the 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 ownership of Class A common stock, Class B common stock, and incentive equity instruments in a single publicly traded corporation ("BGC Group"). Please proceed with your question. ET for investors. BGC, BGC Trader, GFI, Fenics, FMX, Fenics Market Data, Fenics GO, Capitalab, and Lucera are trademarks/service marks and/or registered trademarks/service marks of BGC and/or its affiliates. Please confirm your email address by clicking the link inside. Check the background of our Firm on FINRAs BrokerCheck. And do you think that the back half -- this will all come back in the back half? 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. 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. BGC's advisory release will notify the public that a full-text financial results press release will be accessible at https://ir.bgcpartners.com. I do. 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. The information included herein is given as of the date hereof, and future results or events could differ significantly from these forward-looking statements. To read this article on Zacks.com click here. Adjusted EBITDA of $151.1 million was 7% higher. 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. Except as required by law, BGC undertakes no obligation to update any forward-looking statements. For more information, please visit http://www.bgcpartners.com. under generally accepted accounting principles. Okay. Corporate Conversion Agreement Information. BGC Partners, Inc. is expected to complete its corporate conversion to a Full C-Corporation on Saturday, July 1, 2023. With that I'd like to turn to Howard for closing remarks. The definitive consent solicitation statement/prospectus will be sent to the stockholders of the Company. BGC is led by Chairman of the Board and Chief Executive Officer Howard W. Lutnick. We define total capital as reviewable partnership interest total stockholders' equity and non-controlling interest in subsidiaries. I think that the debt ceiling has created constraints in the short end of the treasury market issuance has been idiosyncratically modified by movements of the treasury to try to stay within balance of the US's particular issues with respect to the debt ceiling which we assume will be resolved one way or the other in the relative near term. But the soft launch is just the beginning of onboarding as many clients as we possibly can. BGC will host a conference call on Tuesday, May 3, 2022, at 8:00 a.m. You can find me at ir.bgcpartners.com. All Rights Reserved | I now have to turn the call over to Howard Lutnick Chairman of the Board and CEO of BGC Partners. Any forward-looking statements about risks and uncertainties except as required by law, we undertake no obligation to update any forward-looking statements. BGC Group Inc Ordinary Shares Class A BGC Stock Quote - Morningstar We will provide additional information with respect to our expected tax rate going forward as soon as practical, following the close of the corporate conversion. 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.incommglobalevents.com/registration/q4inc/10503/bgc-partners-inc-1q-2022-earnings-call/. Thank you for your interest in BGC Group. And remember, we are trying to launch one of the US rate futures, which is one of the great marketplaces of the world and we are going to try to have a broad base of onboarding clients. Jason McGruder is the Head of Investor Relations for Newmark Group, Inc. Please. Type a symbol or company name. BGC plans to issue an advisory press release regarding the availability of its consolidated quarterly financial results after market close on Monday, May 2, 2022. Privacy Statement For nearly 80 years, Banc of California has served small and medium-size businesses and . Houlihan Lokey, Inc. has provided a fairness opinion to the Independent Joint Committee. Help. 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. Want the latest recommendations from Zacks Investment Research? Additionally, call participants may dial in with the following information: 11/2/2022 11:00 a.m. We expect issuance to be up big for the rest of probably the rest of my life and that's our expectation. TRACK DOCKET: No. Business Continuity Investor Relations | Inari Medical, Inc. 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. Additional Information About the Corporate Conversion Transactions and Where to Find It. For general information about BGC visit: www.bgcpartners.com. BGC Partners Rebrands and Transforms to C-Corp We believe increasing simplicity, while reducing operational complexity, will deliver tremendous value to BGC. You can see the complete list of todays Zacks #1 Rank (Strong Buy) stocks here.Gladstone Investment currently sports a Zacks Rank #1. Additionally, BGC announced that it expects to change its name from "BGC Partners, Inc." to "BGC Group, Inc.," and it also expects to change its Nasdaq Global Select Market ticker symbol from "BGCP" to "BGC," all in connection with the planned corporate conversion from an Umbrella Partnership/C-Corporation ("Up-C") to a "Full C-Corporation.". In addition to our purpose-built products, we leverage our capabilities in education, clinical research, and program development to . It is not. And I think you saw that the first quarter was up 5.2%. Culture It was the vision of Cantor's founder B. Gerald Cantor to build a business based on unparalleled customer service and innovation. Our business is continuing to improve with our growth accelerating through the first 19 trading days in the second quarter. Quote data delayed by at least 15 minutes. Sign up to get PRNs top stories and curated news delivered to your inbox weekly! PDF Bgc Partners, 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-third-quarter-2022-financial-results-announcement-to-be-issued-prior-to-market-open-on-wednesday-november-2-2022-301643142.html, BGC Partners, Inc. 3Q 2022 Earnings Call (netroadshow.com), https://www.linkedin.com/company/bgc-partners, http://ir.bgcpartners.com/Investors/default.aspx, https://www.prnewswire.com/news-releases/bgc-partners-third-quarter-2022-financial-results-announcement-to-be-issued-prior-to-market-open-on-wednesday-november-2-2022-301643142.html, French central bank head warns against raising ECB inflation target, Russia calls on NATO to discuss Ukraine nuclear plant at summit, Yellens China Trip Leaves Little Doubt Pans in Charge of PBOC, South Korean lawmakers berate IAEA chief over Japanese plans to release treated Fukushima wastewater, Yellen says Washington might 'respond to unintended consequences' for China due to tech export curbs. 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. And how would that impact BGCP I guess? BGC Partners' Third Quarter 2022 Financial Results Announcement to Be Recent updates to S&P's index policies mean that dual share class companies like us are now eligible for inclusion. But globally, we're feeling pretty confident that things feel good at BGC volumes are growing issuance is up big. Cantor Fitzgerald, L.P. has agreed to deliver to BGC a written consent approving and adopting the Corporate Conversion Agreement and the transactions contemplated thereby within two business days following the date on which BGC Group's Registration Statement on Form S-4 in connection with the corporate conversion transactions is declared effective by the Securities and Exchange Commission (the "SEC"). 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. 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. I don't see that impacting BGC and its global business, not even in the near term. 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. The change also extends to the company's . We started the second quarter up 9%. But so far, I haven't attended that, yet. BGC plans to issue an advisory press release regarding the availability of its consolidated quarterly financial results by 8:00 a.m. Contact information for GFI offices, companies and subsidiaries in over 22 countries across the globe. For general information about BGC visit: www.bgcpartners.com. Good morning. Well, look we are seeing the healing process of the relationship between issuance and trading volume broadly around the world. Any outlook and targets discussed on this call assume no material acquisitions buybacks extraordinary transactions or meaningful changes to the company's stock price. I'd also remind you that the information regarding our business on today's call that are not historical are forward-looking statements. Check the background of our Firm on FINRAs BrokerCheck. We will receive CFTC approval. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Investor Relations | CBOE Additionally, call participants may dial in with the following information: BGC Partners, Inc. ("BGC") is a leading global brokerage and financial technology company. All Rights Reserved | 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. ET. 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. You will receive an email shortly. Both our voice hybrid and Fenics businesses saw solid growth with revenue up across all asset classes. Our non-compensation expenses under GAAP and adjusted earnings increased by 2.1% and 4.2% respectively.