A global financial services firm specializing in market-making, brokerage, trading, and advisory services with a broad international presence and a large employee base.

# Company Summary

## Business Overview
The company operates primarily as a global financial services and brokerage firm, involved in a variety of market activities including inter-dealer brokerage, investment banking, exchange operations, and asset management. It has a broad international presence with offices and operations in the United States, Europe, Asia, Latin America, the Middle East, Africa, and Australia.

## Core Operations & Business Lines
- **Inter-Dealer Brokerage & Market-Making**: Provides electronic and voice brokerage services for fixed income, equity derivatives, foreign exchange, commodities, and other financial instruments.
- **Investment Banking & Advisory**: Supports clients with capital raising and strategic advisory, including SPAC (Special Purpose Acquisition Company) activities through subsidiaries like Aurel.
- **Asset Management & Insurance**: Manages assets and provides insurance-related services, often in collaboration with affiliates.
- **Exchange & Clearing Services**: Operates and provides clearing services for derivative and securities transactions, including via its subsidiary FMX.
- **Real Estate Services**: Through its former subsidiary, Newmark, the company was involved in commercial real estate advisory, brokerage, and management, although this business has been spun off.

## Corporate Structure & Recent Changes
- As of July 1, 2023, the company completed a **Corporate Conversion** from BGC Partners into a full C-Corporation called **BGC Group**. This involved reorganizing its structure to be a standalone, publicly traded holding company.
- The enterprise transitioned from using partnership units and cash/partnership-based incentives to stock- and equity-based compensation.
- The company now directly owns and manages various subsidiaries, including BGC Group, BGC Partners, and former operations like Newmark (which was spun off in 2018).

## Financial and Operational Data
- **Number of Employees**: The company has approximately **4,750 employees**, including brokers, staff, and contractors globally.
- **Revenue**: Reported **total revenues of approximately $16.9 billion in 2024**.
- **Net Income**: Net income for 2024 was approximately **$2.7 billion**.
- **Customers**: Engages with institutional clients, proprietary trading desks, and other financial market participants. Specific customer count is not provided, but activity includes participation in market-making, brokerage, and advisory services across numerous jurisdictions.
- **Shareholders & Stakeholders**:
  - Significant ownership by affiliates of Cantor Fitzgerald, holding around **88% of voting shares** in Class B common stock, translating to a controlling interest.
  - Public shareholders and institutional investors are also involved.
- **Key Subsidiaries & Affiliates**:
  - Cantor Fitzgerald (major shareholder and affiliate)
  - Newmark (real estate advisory business, spun off in 2018)
  - FMX (financial exchange platform)
  - Tower Bridge (administrative services provider)
  - Aurel (investment banking activities support)
  - Other broker-dealer and clearing subsidiaries.

## Summary
The company is a diversified financial services firm focused on market-making, brokerage, trading, and advisory services with a significant global footprint and a large employee base. Its revenue primarily derives from market activities, client commissions, advisory fees, and exchange services. The firm has undergone a substantial corporate restructuring and is controlled predominantly by Cantor Fitzgerald.

BGC Group, Inc. is a leading financial services company specializing in inter-dealer brokerage services and innovative data solutions, with a focus on environmental brokerage and technology.

## Company Overview

**BGC Group, Inc.** is a publicly traded financial services company headquartered in New York, NY. The company operates primarily through its subsidiaries, providing a broad array of inter-dealer brokerage services and information solutions to clients across various financial markets. BGC Group is listed on the Nasdaq under the trading symbol "BGC."

### Business Model and Services

- **Brokerage Services:** BGC Group specializes in brokerage services for financial instruments including, but not limited to:
  - Fixed income products
  - Foreign exchange
  - Equities
  - Options
  - Credit derivatives
  - Repos and asset-backed securities

- **Data and Analytics:** The company provides technology and analytics for financial services, including trade execution platforms.

- **Environmental Brokerage Services:** BGC Group offers innovative carbon offset solutions to clients looking to navigate the complexities of environmental finance.

### Key Metrics

- **Customers:** BGC Group services over **5,000 clients**, including major financial institutions, hedge funds, asset managers, and corporate treasurers.
  
- **Employees:** The firm employs approximately **3,600 employees** globally, including brokers and technology professionals.

- **Revenue:** In the fiscal year ending December 31, 2023, BGC Group reported total **revenues of approximately $2 billion**. 

- **Net Income:** For the same fiscal year, the company achieved a **net income of approximately $39 million.**

### Corporate Structure

BGC Group underwent a **Corporate Conversion** on July 1, 2023, transforming from an Up-C structure to a full C-Corporation. This reorganization involved the merger of BGC Partners, Inc. and BGC Holdings, L.P., simplifying the company's structure and allowing former stockholders to participate in the economics of the BGC businesses through the newly organized entity, BGC Group.

### Market Position

BGC Group is considered one of the leading players in the inter-dealer brokerage space, competing with other major firms in the industry. Its robust technology platform and long-standing relationships with clients provide it with a competitive edge in the fast-paced financial services market.

### Growth and Future Outlook

The company is focused on expanding its services, particularly in its Environmental Brokerage Services and technology-driven solutions, which align with the growing interest in sustainability and technological innovation within financial markets. BGC's commitment to developing new products and enhancing existing services suggests a positive growth trajectory as it seeks to capture more market share while continuing to serve its established client base. 

### Conclusion

BGC Group, Inc. represents a comprehensive and evolving entity within the financial services industry, providing essential brokerage services, data solutions, and innovative environmental financial products to a diverse array of clients. The company's significant workforce and substantial revenue reflect its importance in the sector, while the recent organizational changes aim to enhance operational efficiencies and long-term profitability.


BGC Group, Inc.

10-K / April 30, 2025

10-K / April 26, 2024

10-K / April 30, 2025

Company Summary

Business Overview

Core Operations & Business Lines

Corporate Structure & Recent Changes

Financial and Operational Data

Summary