BGC Group, Inc.

Overview

BGC Group, Inc. is a global brokerage and financial-technology company serving financial markets. It intermediates trades and provides execution, brokerage, clearing, post-trade and market-information services. Its Fenics businesses extend this offering through electronic marketplaces, market infrastructure and connectivity, data, and post-trade products; brokerage services are its sole reportable segment.[1]+2

BGC operates internationally, with offices in more than two dozen major markets.[4] The company has described its mission as putting clients first through service and technology that address the evolving needs of global capital markets.[5]

For the year ended December 31, 2025, BGC reported revenue of approximately $2.94 billion.[6] A secondary source reports approximately 4,560 employees at year-end 2025.[7] [2]+6

Products & services

BGC Group’s brokerage and execution products span several markets: ECS covers environmental and energy-transition products, oil and refined products, shipping and freight, commodities and metals; Rates includes government bonds, OTC interest-rate derivatives, listed futures and options, inflation products, repos and money-market instruments; Foreign Exchange includes spot, forwards, NDFs, options and precious metals; Credit includes corporate and emerging-market bonds, CDS and structured products; and Equities includes OTC derivatives, listed futures and options, delta-one and cash equities.[8]

Electronic execution and trading offerings include BGC Trader, BGC Forex, BGC Credit and BGC Volume Match, with voice, hybrid and electronic execution that can use RFQ, anonymous auctions and central limit order books.[9] FMX provides electronic trading in cash U.S. Treasuries, FX and U.S. interest-rate futures, with product and price discovery, straight-through and transaction processing, credit and risk tools, and back-end processing and billing.[10]+2

Other offerings include Fenics Market Data, which provides real-time, tradable, indicative, end-of-day and historical data across fixed income, rates and credit derivatives, FX, money markets, energy, commodities and equity derivatives, delivered through feeds, hosted FTP and third-party platforms.[3] Lucera products include LumeFX, LumeMarkets, Connect and Compute for FX infrastructure, multi-asset aggregation, network connectivity and co-located computing; BGC also offers FX-derivatives post-trade risk mitigation, matching and optimization, and Weather Derivatives.[13]+4 Opti Match is a fully electronic U.S.-dollar swaps platform initially covering SOFR, Fed funds, basis, term and OIS products.[18]

BGC reported no revenue percentage by individual product or asset class. For 2025, commissions were 76.7% and principal transactions 15.0% of total revenue; together, brokerage revenues were 91.7%, while data, network and post-trade revenues were 4.7%. These are revenue-type categories rather than product-level shares.[6] [8]+12

Geographic presence

BGC Group reports operations across the U.S., Canada, Europe, the U.K., Latin America, Asia, Australasia, Africa and the Middle East. Its disclosed office locations include New York, Chicago, Houston, Miami, Toronto, Mexico City, Bogota, Rio de Janeiro, Santiago, São Paulo, London, Dublin, Frankfurt, Paris, Milan, Madrid, Geneva, Zurich, Copenhagen, Dubai, Johannesburg, Cape Town, Hong Kong, Beijing, Shanghai, Tokyo, Seoul, Manila, Singapore, Sydney, Melbourne, Brisbane, Perth and Wellington, among others. Its principal executive offices are at 499 Park Avenue in New York; London is its largest presence outside the New York metropolitan area, with an office at Five Churchill Place.[19][20]

At December 31, 2025, BGC had approximately 4,560 employees in 26 countries. About 2,510 were front-office employees; their regional distribution was approximately 29% in the Americas, 52% in EMEA and 19% in Asia Pacific. These figures describe front-office employees, not the regional distribution of the entire workforce.[21][22] [19]+3

Business segments

BGC Group reports one reportable segment, brokerage services, managed on a consolidated basis; its product categories are not separate reportable segments.[23][24] In FY2025, the five categories in its annual brokerage-revenue table contributed approximately: Energy, Commodities & Shipping (ECS), 33.8%; Rates, 29.4%; Foreign Exchange (FX), 15.9%; Credit, 11.0%; and Equities, 10.0%. These percentages are calculated from the reported category revenues and total brokerage revenue of $2,698.383 million.[25]

The categories cover distinct brokerage markets: ECS includes environmental and energy-transition products, oil and refined products, shipping and freight, commodities and metals; Rates includes government bonds, interest-rate derivatives, futures and options, inflation products, repurchase agreements and money-market instruments; FX includes spot and forward foreign exchange, non-deliverable forwards, options and precious metals; Credit includes corporate and emerging-market bonds, credit derivatives and structured products; and Equities includes OTC and listed equity derivatives, delta-one products and cash equities.[8] [23]+12

Company history

BGC Group traces its roots to Cantor Fitzgerald, founded in 1945. BGC originated as a spin-off of Cantor’s global voice-brokerage business, announced in 2004; the new company began trading on October 1, 2004, and was named in honor of Cantor founder B. Gerald Cantor.[26]+2 In 2008, BGC Partners merged with electronic-trading firm eSpeed. It subsequently expanded through acquisitions including Brazilian broker Liquidez in 2009, the U.S. business of Newmark Knight Frank in 2011, and GFI Group, whose merger was completed in 2016.[29]+3

Newmark completed an initial public offering in 2017, and BGC spun it off in 2018. BGC introduced its Fenics Global Options electronic trading platform in 2019. In 2023, BGC Partners completed its conversion to a C-corporation and changed its name to BGC Group, Inc.[33]+3 In 2024, BGC brought strategic investors into its FMX marketplace initiative. In 2025, FMX Futures launched U.S. Treasury futures, and BGC completed its acquisition of OTC Global Holdings, expanding its energy, commodities and shipping businesses.[37]+2 [26]+13

Sources

• www.sec.gov[1]
• BGC Group, Inc. — Full financial report (2025 Y)
  18 citations

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