BGC Group’s Fenics Growth Platforms reported faster revenue growth than the company’s much larger brokerage business in the second quarter of 2026. Revenue from the category increased 22.9% year on year to $33.4 million, compared with 7.2% growth in total brokerage revenues.
The figures accompanied record second-quarter revenue for the group. Total revenue rose 7.8% to $845.5 million, while brokerage revenue reached $771.4 million. Fenics revenue increased 14.3% to $186.2 million, including $152.8 million from Fenics Markets, up 12.6%.
Excluding kACE, which BGC sold at the end of 2025, Fenics revenue grew 17.6%. Growth Platforms was therefore the faster-growing of the two disclosed Fenics categories, with BGC attributing the increase primarily to FMX, PortfolioMatch and Lucera.
The brokerage franchise also advanced across every reported asset class. Rates revenue grew 10.6% and foreign exchange increased 9.4%. Credit rose 5.4%, Energy, Commodities and Shipping increased 5.3%, and equities grew 2.8%.
FMX Volumes and Market Share Increase
FMX UST generated record second-quarter average daily volume of $79.4 billion, 17% higher than a year earlier. Its central limit order book market share reached 42%, according to Coalition Greenwich, up from 35% in the same quarter last year and 41% in the first quarter.
FMX Futures reported average daily volume of approximately 54,000 contracts, more than 16-fold higher than a year earlier. Open interest ended the quarter at more than 140,000 contracts, compared with approximately 22,000 a year ago.
The exchange currently lists two- and five-year US Treasury futures and plans to add the remaining tenors across the curve on 3 August. FMX combines BGC’s cash US Treasury business with its CFTC-regulated exchange for US Treasury and SOFR futures, positioning it to compete in the US interest-rate market. BGC previously secured minority investments from ten global banks and market-making firms for the business.
- FCA Hands BGC the Keys to EUR and GBP Benchmark Pricing
- BGC Group Enters Agreement to Purchase OTC to Expand ECS Platform
- BGC Partners Rebrands as BGC Group and Transforms to C-Corp
PortfolioMatch and Lucera Add Growth
PortfolioMatch’s average daily volume increased 82% to a quarterly record of $431 million. The platform supports electronic portfolio trading in credit markets, allowing institutions to transact groups of bonds rather than individual instruments.
Lucera, Fenics’ network business supplying real-time trading infrastructure to capital markets firms, increased revenue by 15%. BGC attributed the growth to continued momentum in its foreign exchange offering and the onboarding of several large clients.
BGC’s Q2 figures show Fenics Growth Platforms growing faster in percentage terms than total brokerage revenues, while remaining a much smaller contributor. Brokerage continued to provide most of the group’s revenue, with the Growth Platforms increase driven primarily by FMX, PortfolioMatch and Lucera.
