BGC Group

What BGC Group does

BGC Group is a global institutional brokerage and financial technology company that provides trade execution, broker-dealer services, clearing, processing, and market data across more than 200 financial products spanning fixed income, interest rate swaps, foreign exchange, equities, equity and credit derivatives, commodities, energy, shipping, and structured products. Headquartered in New York and London with offices in more than 20 major markets, the firm serves the world's largest banks, broker-dealers, investment banks, trading firms, hedge funds, governments, and corporations through voice, hybrid, and fully electronic execution channels. The company is publicly traded on NASDAQ under ticker BGC following its 2023 corporate conversion to a C-Corporation, and employs approximately 4,560 people.

Name

BGC Group

Legal name

BGC Group, Inc.

Website

https://bgcg.com

Company type

Public

Founded year

2004

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

BGC Group is a global institutional brokerage and financial technology company operating across more than 20 markets. It provides voice, hybrid, and electronic trade execution across 200+ financial products in fixed income, FX, equities, energy, and commodities to the world's largest banks, hedge funds, governments, and corporates.

Ownership category

akta.pro rank

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices18 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Brokerage Commissions: Commissions from trade execution and broker-dealer services across fixed income, foreign exchange, equities, energy, commodities, and shipping asset classes. Q4 2025 brokerage revenues grew 34.6% year-over-year with 92.0% increase in energy, commodities, and shipping segments.
2. Market Data and Analytics: Revenue from Fenics Market Data and other data services providing financial market information and analytics to institutional clients
3. Technology Services: Fees from electronic trading platforms, software services, and connectivity solutions including BGC Trader, FMX, and Lucera
4. Trade Execution and Processing: Clearing, trade compression, post-trade, and back-office services for financial and non-financial institutions

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

BGC Group is a global wholesale brokerage and financial technology company providing trade execution, broker-dealer services, clearing, processing, and market data/analytics across more than 200 financial products including fixed income securities, interest rate swaps, foreign exchange, equities, equity derivatives, credit derivatives, commodities, futures, and structured products. Execution is delivered through voice, hybrid, and fully electronic channels, supported by proprietary platforms such as the Fenics suite, FMX Futures Exchange, BGC Trader, BGCPro, GBX, ColleX, Lucera, and a Swap Execution Facility.

Product overview

BGC Group is a global brokerage and financial technology company offering a platform-plus-products architecture. The core offering centers on the Fenics platform suite for market data and analytics, combined with the FMX exchange platform for electronic trading of U.S. Treasuries, futures, and FX. The company provides trade execution services through multiple platforms including BGCPro (multi-asset voice/electronic execution), GBX (order management), and ColleX (collateral trading). Connectivity is supported through Lucera. Recent 2026 launch of BGC Compute Infrastructure Markets (CIM) extends the company's commodity trading expertise into AI infrastructure. Additional products include Algomi (fixed income data/surveillance), Honeycomb (data aggregation), and environmental brokerage services. The company operates a SEF for derivatives trading and serves clients across rates, credit, FX, equities, and energy/commodities asset classes.

Differentiator

Problem solved

Functional benefit

Brands

• Fenics: Financial technology solutions, market data and analytics platform for financial instruments and markets
• FMX
• FMX Futures Exchange
• Fenics Markets Xchange
• Fenics Digital
• Fenics UST
• Fenics FX
• Fenics Repo
• Fenics Direct
• Fenics MID
• Fenics Market Data
• Fenics GO
• Fenics PortfolioMatch
• BGC Trader
• CreditMatch
• Collex
• kACE2
• BGC Compute Infrastructure Markets
• Algomi
• Honeycomb
• Sunrise Brokers

Products and services

• Fenics Platform Suite Comprehensive financial technology platform brand encompassing Fenics Markets Xchange (FMX), Fenics Digital, Fenics UST, Fenics FX, Fenics Repo, Fenics Direct, Fenics MID, Fenics Market Data, Fenics GO, and Fenics PortfolioMatch for trading, market data, and analytics across fixed income, FX, equities, and derivatives asset classes.
• FMX Futures Exchange CFTC-approved U.S. interest rate futures exchange and spot foreign exchange platform for fully electronic trading of U.S. Treasuries, U.S. Interest Rate Futures, and Foreign Exchange, with SOFR futures trading. Holds approximately 40% of US Treasury bond trading market share.
• BGC Trader Multi-asset integrated voice and electronic price execution platform for the inter-bank and broker community, providing access to multiple products and liquidity pools with real-time pricing and historical data across multiple asset classes.
• BGCPro Multi-asset integrated voice and electronic price execution software for the inter-bank and broker community, supporting fixed income, European corporate cash, credit default swaps, i-Traxx, and FX options.
• GBX Financial software for accessing financial information, managing orders, and trading instruments. Integrates group-wide liquidity into a single distribution channel with customizable trader controls.
• ColleX Collateral trading utility and marketplace providing T+0 marketplace for pricing, trading, and sourcing collateral, including liquidity hub and repo services for accessing global collateral markets.
• Lucera Connectivity platform providing institutional-grade market structure for AI infrastructure, price discovery, risk management, and execution services. Part of BGC Group's technology suite supporting trading and market data distribution.
• BGC Compute Infrastructure Markets (BGC CIM) New division within Energy, Commodities and Shipping business focused on the secondary market for compute and memory capacity driven by AI adoption. Provides institutional-grade brokerage for price discovery, risk management, and execution in AI infrastructure markets.
• Swap Execution Facility (SEF) Regulated swap execution facility operating since October 2013 under Dodd-Frank regulations, providing flexible approach to electronic clearing and execution of derivatives trades via Central Limit Order Book, RFQ, and voice systems.
• Fenics Market Data Leading market data business providing financial data, analytics, and information services related to financial instruments and markets. Award-winning market data provider recognized multiple times including Best Market Data Provider awards.
• Algomi Financial software providing connectivity between dealers and buy-side clients for low latency trade execution and transmission of financial data. Includes ALFA for fixed income data aggregation and market surveillance.
• Honeycomb Financial data aggregation and management software designed to enhance collaboration and communication between investors and dealers to increase liquidity options for illiquid bonds.
• Energy, Commodities and Shipping Brokerage World's largest energy, commodities, and shipping brokerage services following the 2025 OTC Global Holdings acquisition, covering oil, refined products, biofuels, NGLs, petrochemicals, environmental products, iron ore, gold, silver, and ship brokerage including LNG, Tanker and LPG markets.
• BGC Environmental Brokerage Energy brokerage services and carbon offset solutions for green energy markets, including transactions, financing, technology, and consulting for environmental initiatives.

Quantifiable outcome

• Q1 2026 revenue $955.48M with 43.85% YoY growth
• +2 more outcomes

Named customers6 records

Segments3 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability6 records

Feature6 records

Partnerships

Seven partnerships are on record, tiered core, significant, strategic and flagship.

• Fenics Market Data and LuceracoreTechnology or Integration · 18 June 2026BGC Compute Infrastructure Markets clients will have access to Fenics Market Data (leading market data business) and Lucera connectivity platform to support development of transparent, connected, and efficient marketplace for AI infrastructure.
• smartTrade TechnologiessignificantStrategic or Co-development Partner · 1 December 2025smartTrade Technologies acquired kACE Financial (formerly Fenics) from BGC for up to $119 million ($80M initial payment plus up to $39M contingent consideration). The acquisition integrates kACE's derivatives analytics and trading infrastructure with smartTrade's multi-asset electronic trading and payments solutions.
• Macro Hive LimitedstrategicTechnology or Integration · 1 October 2025BGC acquired Macro Hive Limited to enhance AI-driven market analytics capabilities, integrating Macro Hive's technology across rates and FX markets to strengthen BGC's institutional services and expand analytics offerings for clients including banks, hedge funds, and governments.
• CapitolissignificantStrategic or Co-development Partner · 1 December 2024Capitolis acquired BGC's Compression & Optimization Business, Capitalab, for $46 million to expand Capitolis' solutions in Rates Portfolio Compression and Margin Optimization, enhancing its network and product offerings.
• OTC Global HoldingsflagshipStrategic or Co-development Partner · 1 October 2024BGC agreed to acquire OTC Global Holdings in a substantially all-cash transaction for $325 million to expand and diversify BGC's Energy, Commodities, and Shipping business, making BGC the world's largest energy broker upon completion in April 2025.
• Sage Energy PartnersstrategicStrategic or Co-development Partner · 1 October 2024BGC acquired Sage Energy Partners, LP (Houston-based energy and environmental brokerage) to expand services in the U.S. and support global growth in oil, refined products, biofuels, NGLs, petrochemicals, and environmental/energy transition markets.
• Cantor FitzgeraldcoreStrategic or Co-development PartnerBGC separated from Cantor Fitzgerald in 2004 but maintains ongoing affiliation. Cantor Fitzgerald Relief Fund co-hosts annual Charity Day with BGC on September 11th commemoration. Howard W. Lutnick served as BGC CEO before becoming U.S. Secretary of Commerce.

Scale indicators16 records

Recent moves10 records

Expansion highlights6 records

Direct peers

• TP ICAP: The largest inter-dealer broker globally, directly comparable as a wholesale broker of rates, credit, FX, equities and commodities. Like BGC, TP ICAP is pivoting from voice to electronic execution and competes head-to-head across BGC's core asset classes.
• Compagnie Financière Tradition: Swiss-listed inter-dealer broker operating across rates, FX, equities, credit and commodities with similar voice-plus-electronic distribution. Closely comparable in business model, scale and inter-dealer client base.
• Tradeweb Markets: Leading electronic fixed income and derivatives trading platform competing directly with FMX, Fenics UST and BGC's rates franchise. Comparable institutional customer base and similar shift from voice to fully electronic execution.
• MarketAxess: Electronic credit trading platform overlapping with BGC's credit brokerage and CreditMatch offerings. Similar institutional client base and similar reliance on fixed income market activity for transaction revenue.
• Marex: Recently public global commodities and energy broker with strong overlap in energy, metals, agricultural commodities and shipping — closely comparable to BGC's post-OTC Global Holdings energy/commodities franchise.

Broad incumbents

• CME Group: World's largest derivatives exchange operator, competing with FMX in interest rate futures (SOFR, Treasury futures) and with BGC's listed derivatives brokerage more broadly. Much larger scale and broader product set.
• Intercontinental Exchange (ICE): Global exchange operator and clearing house with major fixed income, energy and credit franchises. Competes with BGC across multiple asset classes and provides an incumbent benchmark for how electronic exchange models scale.
• Nasdaq: Exchange operator and capital markets infrastructure provider. Competes with BGC's listed equities, fixed income and market-data businesses, and is the listing venue for BGC itself (BGC trades on Nasdaq).

Emerging players

• Virtu Financial: Electronic market maker and wholesale liquidity provider across global asset classes. Adjacent to BGC's electronic brokerage and market-making ecosystem, with comparable focus on institutional execution but a different core business model.

Regional players

• StoneX Group: Global financial services firm with wholesale execution, clearing and market data offerings across commodities, FX and securities. Comparable institutional client base in select segments but with less direct overlap in inter-dealer voice brokerage.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/bgcpartners
• LinkedInlinkedin.com/company/bgc-partners

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries22 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A20 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about BGC Group