Restricts Non-essential Business Travel for Employees due
to COVID-19
Will Not Attend Upcoming Conferences
Postpones Previously Scheduled Fenics Event for Investors
and Analysts
NEW YORK, March 3, 2020 /PRNewswire/ -- BGC Partners, Inc.
(NASDAQ: BGCP) ("BGC" or the "Company"), a leading global brokerage
and financial technology company, today announced that it is taking
certain proactive and preventative safety measures due to the
spread of the novel coronavirus ("COVID-19").
BGC has been carefully monitoring the evolving situation
following the outbreak of COVID-19, which was declared a global
emergency by the World Health Organization on January 30, 2020. The Company places the utmost
importance on the safety and well-being of its employees, clients,
and other internal and external stakeholders. After a close review
of guidance by global health authorities and out of an abundance of
caution, BGC has implemented temporary travel restrictions on its
employees globally, effective immediately.
Due to these restrictions, and because a significant percentage
of BGC's executives and senior managers are based outside of the
U.S., the Company made the difficult decision to withdraw from
exhibiting in or participating in various industry conferences.
This included the 45th International Futures Industry Conference,
which was previously scheduled to be held in Boca Raton, Florida from March 10-12, 2020. In addition, BGC is postponing
its Fenics1 half-day event for sell-side analysts and
professional investors, which was previously scheduled to be held
in New York City on Wednesday, April 8, 2020. BGC currently expects
to hold an investor event in the second half of 2020. The Company
also anticipates disclosing additional financial information with
respect to Fenics when it releases its financial results for the
first quarter of 2020 in May of this year and in subsequent
quarters.
About BGC Partners, Inc.
BGC Partners is a leading
global brokerage and financial technology company. BGC's 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,
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. 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.
Media Contact:
Karen Laureano-Rikardsen
+1 212-829-4975
Investor Contacts:
Ujjal Basu
Roy or Jason McGruder
+1 212-610-2426
1 For the purposes of this document, the
Company's fully electronic businesses may be collectively referred
to as "Fenics". Fenics includes revenues from fully electronic
brokerage, as well as data, software, and post-trade services.
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