LONDON, July 19, 2016 /PRNewswire/ -- BGC Partners, Inc.
(NASDAQ: BGCP) ("BGC Partners," "BGC," or "the Company") a leading
global brokerage company servicing the financial and real estate
markets, today announced that it has entered into an
agreement1 to acquire the businesses of Sunrise Brokers
Group ("Sunrise Brokers"), an independent financial brokerage with
a leading reputation in worldwide equity derivatives.
"This transaction enables us to further expand our equity
derivatives offering and complements our existing financial
services business," said Shaun D.
Lynn, President, BGC Partners. "As a recognized leader
in its market segments, Sunrise Brokers is clearly a valuable
addition to the BGC family of brands." In 2015, Sunrise
Brokers was voted overall Number One Equity Products Broker of the
Year by Risk magazine for the ninth year running
and Number One Equity Exotic Derivatives for the thirteenth year
running.
Details of the transaction were not disclosed, and completion of
the transaction is subject to legal and regulatory approvals and
certain closing conditions. Sunrise Brokers generated consolidated
revenues of approximately $90 million
in the financial year ending December 31,
2015.
About BGC Partners, Inc.:
BGC Partners is a leading
global brokerage company servicing the financial and real estate
markets. BGC owns GFI Group Inc., a leading intermediary and
provider of trading technologies and support services to the global
OTC and listed markets. The Company's Financial Services
offerings include fixed income securities, interest rate swaps,
foreign exchange, equities, equity derivatives, credit derivatives,
commodities, futures, and structured products. BGC provides a wide
range of services, including trade execution, broker-dealer
services, clearing, trade compression, post trade, information, and
other services to a broad range of financial and non-financial
institutions. Through brands including FENICS, BGC Trader,
and BGC Market Data, BGC offers financial technology solutions,
market data, and analytics related to numerous financial
instruments and markets. Real Estate Services are offered
through brands including Newmark Grubb
Knight Frank, Newmark Cornish
& Carey, ARA, Computerized Facility Integration, Landauer
Valuation & Advisory, and Excess Space. Under these
names, the Company provides a wide range of commercial real estate
services, including leasing and corporate advisory, investment
sales and financial services, consulting, project and development
management, and property and facilities management.
BGC's customers include many of the world's largest banks,
broker-dealers, investment banks, trading firms, hedge funds,
governments, corporations, property owners, real estate developers,
and investment firms. BGC's common stock trades on the NASDAQ
Global Select Market under the ticker symbol (NASDAQ: BGCP).
BGC also has an outstanding bond issuance of Senior Notes due
June 15, 2042, which trade on the New
York Stock Exchange under the symbol (NYSE: BGCA). BGC
Partners is led by Chairman and Chief Executive Officer Howard W.
Lutnick. For more information, please visit
http://www.bgcpartners.com.
BGC, BGC Trader, GFI, FENICS, FENICS.COM, Capitalab,
Swaptioniser, Newmark, Grubb & Ellis, and Grubb are trademarks,
registered trademarks and/or service marks of BGC Partners, Inc.
and/or its affiliates. Knight Frank is a service mark of
Knight Frank (Nominees) Limited.
About Sunrise Brokers:
Founded in 1991, Sunrise
Brokers offers broking services across equity, credit, FX, hybrid
and commodity derivative asset classes. Sunrise Brokers was voted
as overall number one Equity Products Broker for the ninth
consecutive year by Risk magazine in 2015. The firm covers
its markets globally from its offices in London, New
York and Hong Kong. Sunrise
Brokers LLP is Authorized and Regulated in the United Kingdom by the Financial Conduct
Authority. Sunrise Brokers (Hong
Kong) Ltd is licensed in Hong
Kong by the Securities and Futures Commission. Sunrise
Brokers LLC is a FINRA Member Firm in the USA.
Please see www.sunrisebrokers.com for more information.
Discussion of Forward-Looking Statements about BGC
Partners
Statements in this document regarding BGC's
businesses that are not historical facts are "forward-looking
statements" that involve risks and uncertainties. Except as
required by law, BGC undertakes no obligation to release any
revisions to any forward-looking statements. 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 set forth in its
public filings, including the most recent Form 10-K and any updates
to such risk factors contained in subsequent Forms 10-Q or Forms
8-K.
1 via certain of its affiliates
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