LONDON, Dec. 7, 2020
/PRNewswire/ -- GFI Asia Partners Pte. Ltd ("GFI"), a subsidiary of
BGC Partners, Inc. (NASDAQ: BGCP), a leading global brokerage and
financial technology company, announced today that it
took a majority stake in a newly established joint venture company
in China, GFIGS Commercial
Consulting (Shanghai) Co., Ltd
("GFIGS"), offering OTC derivatives brokerage service.
GFI's joint venture partner, Guizhou Big Data Capital Service
Centre Co., Ltd. ("Guizhou Big Data Capital"), is a
modern service enterprise whose main business direction is data
commercialization and capitalization for both the information and
financial services industry.
GFIGS will be registered and headquartered in Shanghai and will initially provide services
in Iron Ore derivatives, building on GFI's reputation as a leader
and pioneer in Iron Ore derivatives markets, with the aim to expand
to other products. This new joint venture presents an exciting
opportunity for GFI's further growth and development in
China. GFI looks forward to a long
and successful partnership with Guizhou Big Data Capital.
Commenting on today's announcement, Benny Luk, Group CEO of Greater China, said: "We are delighted with
the establishment of GFIGS to offer OTC brokerage services in
China. Iron Ore futures trading
volumes in China are more than 20
times larger than the offshore market. With Guizhou Big Data
Capital's extensive network and coverage of China's financial markets and GFI's
experienced voice brokerage and best-in-class trading technology,
we are able to comprehensively serve our clients' needs in
China."
Mr. He Xuan, Chairman at Guizhou Big Data Capital Service Centre
Co., Ltd., said: "China is the
world's largest steel market and iron ore consumer. GFI is one of
the world's largest iron ore brokers and is also an active
participant in shipping and energy markets. We anticipate that this
joint venture with GFI will become an opportunity for both sides to
cultivate the Chinese market for a long time. We believe that
through close cooperation running through the ferrous metals
industry, the two sides can make good use of the platform of
Shanghai Clearing House to actively develop customers, steadily
develop business, realize the comprehensive linkage between
exchange and over the counter and real goods and derivatives. The
platform of Shanghai Clearing House can also continue to improve
the service experience, enrich the service connotation, and finally
build an industry model for Sino-foreign cooperation."
GFI prides itself on its reputation as an industry leader in
commodities markets. In May 2020,
Singapore Exchange announced the winners of the SGX Commodities
Awards 2019. GFI was recognized by the Singapore Exchange as the
Number One Overall Top Bulk Commodities Inter-Dealer Broker; Number
One Overall Iron Ore Inter-Dealer Broker; Number One 62%
Iron Ore Futures Inter-Dealer Broker; and Number One Coking Coal
Options Inter-Dealer Broker.
About BGC Partners, Inc.
BGC Partners is a leading
global brokerage and financial technology company. BGC specializes
in the brokerage of a broad range of products, including fixed
income (rates and credit), foreign exchange, equities, energy and
commodities, shipping, insurance, and futures. BGC also provides a
wide variety of services, including trade execution, brokerage,
clearing, trade compression, post-trade, information, and other
back-office services to a broad range of financial and
non-financial institutions. Through brands including Fenics, BGC
Trader, Capitalab, Lucera, and Fenics Market Data, BGC offers
financial technology solutions, market data, and analytics related
to numerous financial instruments and markets. BGC, BGC Trader,
GFI, Fenics, Fenics Market Data, Capitalab, and Lucera are
trademarks/service marks and/or registered trademarks/service marks
of BGC Partners, Inc., and/or its affiliates.
BGC's customers include many of the world's largest banks,
broker-dealers, investment banks, trading firms, hedge funds,
governments, corporations, and investment firms. BGC's Class A
common stock trades on the NASDAQ Global Select Market under the
ticker symbol "BGCP". BGC Partners is led by Chairman of the Board
and Chief Executive Officer Howard W.
Lutnick. For more information, please visit
http://www.bgcpartners.com. 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.
Discussion of Forward-Looking Statements about BGC
Statements in this document regarding BGC that are not historical
facts are "forward-looking statements" that involve risks and
uncertainties, which could cause actual results to differ from
those contained in the forward-looking statements. 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. Except as required by
law, BGC undertakes no obligation to update 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
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.
About Guizhou Big Data Capital Service Centre Co.,
Ltd.
Guizhou Big Data Capital Service Centre Co., Ltd.
(hereinafter referred to as Guizhou Big Data Capital) was
established at the end of 2014 with a registered capital of
RMB 505 million. Through years of
development, the business domain of Guizhou Big Data Capital has
been deepening and expanding, and its capital strength has
continued to increase. As of June
2020, its net capital has exceeded RMB 1 billion.
The business domain of Guizhou Big Data Capital involves both
the information service industry and the financial service
industry. It strives to become a bridge between the above two
modern service industries. From the perspective of finance serving
the real economy, Guizhou Big Data Capital is about to complete its
acquisition of HNA Futures, with the goal of turning it into a
derivatives expert and risk management expert through digital
transformation.
Guizhou Big Data Capital has also established an in-depth
strategic cooperation with bestanalyst.cn (the business brand of
Shanghai Yanke Information Technology Co., Ltd.). The latter is a
leading information integration service provider in the domain of
commodities and financial derivatives in China, covering all commodity futures sectors
including the steel industrial chain. It has about 200,000
effective users, of which more than half are industrial customers,
investment institutions, futures companies and their employees.
Media contact at BGC Partners, Inc.:
Harjeet Singh
+44 20 7894 8829
Investor contact at BGC Partners, Inc.:
Jason
Chryssicas
+1212 610 2426
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