BGC Group Inc (BGC) Quote

Small pull back today, but I think that was due to the large increase from yesterday than any news. This stock might take a hit if macro-economic conditions continue to drive the overall market down. However, those conditions really will not hurt the income of this business.

It was not a bad purchase. Still well below 52 week highs. There are some macro economic issues which could bring the stock price down still. However, the big thing to know here is the business is mainly a stock trading venue. And Market volatility drives profits both good and bad drives revenue income.

I just picked up a small starting position of 1500 shares. Will add on a little pullback. I should have probably waited.

There is a lot of hidden momentum on this stock. I have owned it for quite some time. The recent corporate conversion, the spin off of NMRK, the Aquisition of OTC holdings, the stand up of a competitor to the CME group. There are a lot of things going on which have not made the needle move but make this interesting. With Lutnick out of the way, a potential for increased dividends might also happen. Will see

I think this is your best pick

This has been kind of a sleepy trade for years but with Howard Lutnick moving out of the way it appears the market likes BGC without him in charge.

They just announced BGC is repurchasing all of Howard Lutnick share's. Equals over a 3 percent reduction of outstanding shares.

Now over $11. Someone who owns a Sonata could have upgraded to a Genesis by now.

Over $10, who would have ever thought that, ey! 🤣

https://www.bloomberg.com/news/videos/2024-07-31/howard-lutnick-on-bgc-business-new-exchange-and-rates

Last chance to upgrade your POS Sonata.

52 week high coming....In my humble opinion

FMX Futures, which received CFTC approval in January, is expected to launch in September 2024.

Last chance to upgrade your Sonata to a Genesis.

$9.00 = u could be upgrading to a Genesis by now 😂

52 week high 🚬

Another all-time high. Mi$$ed out
...Genesis definitely drives better than a Sonata 🤣

52 wek high 😁

Sonata, here is your chance to upgrade to a Genesis: BGC Group (BGC) PT Raised to $10 at Piper Sandler

May 6, 2024 7:46 AM

Hyundai, instead of playing with yourself, you sure are missing out 🤑

Sonata,

Ten global investment banks and market making firms join BGC in the creation of FMX to launch premier U.S. Treasury and U.S. Interest Rate Futures trading marketplace

04/25/24 8:00 AM

FMX closes transaction with strategic investors at a $667 million post-money equity valuation

NEW YORK, April 25, 2024 /PRNewswire/ -- BGC Group, Inc. (Nasdaq: BGC) today announced that Bank of America, Barclays, Citadel Securities, Citi, Goldman Sachs, J.P. Morgan, Jump Trading Group, Morgan Stanley, Tower Research Capital, and Wells Fargo have become minority equity owners of FMX, with a post-money equity valuation of $667 million. FMX combines BGC's U.S. cash treasuries platform with its spot foreign exchange platform and U.S. interest rate futures exchange, and will leverage BGC's proven low latency trading infrastructure and global distribution to further support liquidity in the interest rate futures market.  

"We have brought together ten of the most important global investment banks and market making firms to create a premier trading venue for the interest rate markets," said Howard W. Lutnick, Chairman and CEO of BGC Group and Chairman of FMX. "We offered ownership to this incredible investment group knowing the enormous value they bring to FMX, which will benefit all market participants."

FMX Futures, which received CFTC approval in January, is expected to launch in September 2024. FMX's cash U.S. Treasury platform, FMX UST (formerly known as Fenics UST), has grown its Central Limit Order Book market share each sequential quarter. FMX UST ended the first quarter 2024 at 28%, up from 26% in the fourth quarter of 2023.1

"With support from these leading financial firms, we believe FMX will become a rapidly growing futures platform and create important efficiencies for our shared clients," said Lou Scotto, CEO of FMX. "With our clearing partner, LCH, the largest clearer of interest rate swaps in the world, clients will receive significant portfolio-margining capabilities, creating competitive advantages across U.S. interest rate markets." 2

"LCH is excited to partner with FMX to deliver product innovation and margin savings, which will enhance the competitiveness of U.S. derivatives markets for its members," said Isabelle Girolami, CEO of LCH Ltd.

"FMX's unique protocols provide a fresh competitive edge across rates, FX, and futures markets," said Geoff Weber, Head of G10 Rates Flow Trading at Citi. "The impressive growth in market share that FMX has experienced recently enhances market liquidity and positions FMX as a potential catalyst for increased competition, particularly within the futures market. This innovation not only promises to elevate market dynamics but also aims to lower costs for all market participants, signaling a forward-looking shift."

"FMX is going to drive innovation and competition across the rates, FX and futures markets," said Kristen Macleod, Head of Americas Macro Distribution and Co-Head of Global FX Distribution at Barclays. "As a key investor, Barclays looks forward to delivering the benefits of our investment to our clients through improved execution and competitive fees."

Sonata....

Piper Sandler Maintains Overweight on BGC Group, Raises Price Target to $9

04/12/24 8:32 AM

8:32 AM EDT, April 12, 2024 (Benzinga Newswire)


Piper Sandler analyst Patrick Moley maintains BGC Group (NASDAQ:BGC) with a Overweight and raises the price target from $8.5 to $9.

Sonata,

Keep watching ⬆️

BGC new 52 week high