BGC Partners Shopping Trayport Platform, but FENICS to Remain
- BGC Partners announced that it expects to complete a sale of the Trayport energy and commodities trading platform by the end of the year.
BGC Partners issued its Q2 financials today. The report is the first full quarter figures following the completion of its Acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term of GFI Group. For the quarter, BGC post-tax distributable earnings were $64.6 million, 48.6 above the same period last year. The profits came on top line growth of 59.1%, as revenues reached $684.6 million.
In addition to reporting financial figures, BGC also provided an update of Trayport, GFI’s electronic energy and commodities Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term. According to BGC Partners, Trayport remains in play with an expected sale of the platform by the end of 2015. In regards to the sale process, BGC stated: “Numerous serious parties are participating in the process at a valuation that reflects Trayport’s continuing growth in the year following last year’s proposed transaction, as well as its high margins, leading technology, and strategic importance in the global energy and commodities markets.”
The news follows initial reports from company sources back in March, that BGC was exploring the sale of Trayport. The CME Group remains closely linked as a buyer for Trayport, having tried to acquire GFI Group itself. Nonetheless, based on rhetoric from the company and other sources, BGC appears ready to take its time, in order to let the best offer materialize.
Officially not included as a planned sale is GFI’s FX options trading platform, FENICS, which has also been reported to be up for sale. After initially being linked to be targeted by the CME Group, BGC Partners made it official today that FENICS is not going anywhere soon. As part of its consolidation of GFI within BGC, it was announced today that all electronic trading platforms of the combined firms will be operated within the FENICS brand name.
BGC Partners issued its Q2 financials today. The report is the first full quarter figures following the completion of its Acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term of GFI Group. For the quarter, BGC post-tax distributable earnings were $64.6 million, 48.6 above the same period last year. The profits came on top line growth of 59.1%, as revenues reached $684.6 million.
In addition to reporting financial figures, BGC also provided an update of Trayport, GFI’s electronic energy and commodities Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term. According to BGC Partners, Trayport remains in play with an expected sale of the platform by the end of 2015. In regards to the sale process, BGC stated: “Numerous serious parties are participating in the process at a valuation that reflects Trayport’s continuing growth in the year following last year’s proposed transaction, as well as its high margins, leading technology, and strategic importance in the global energy and commodities markets.”
The news follows initial reports from company sources back in March, that BGC was exploring the sale of Trayport. The CME Group remains closely linked as a buyer for Trayport, having tried to acquire GFI Group itself. Nonetheless, based on rhetoric from the company and other sources, BGC appears ready to take its time, in order to let the best offer materialize.
Officially not included as a planned sale is GFI’s FX options trading platform, FENICS, which has also been reported to be up for sale. After initially being linked to be targeted by the CME Group, BGC Partners made it official today that FENICS is not going anywhere soon. As part of its consolidation of GFI within BGC, it was announced today that all electronic trading platforms of the combined firms will be operated within the FENICS brand name.