Aurel BGC

What Aurel BGC does

Aurel BGC is a French financial intermediary and investment services provider operating as the wholly-owned French subsidiary of BGC Partners (NASDAQ: BGC), the global brokerage group that reported $2.94 billion of 2025 revenue and a $5.5 billion market capitalization across more than 20 countries. The firm was formed in October 2008 from the merger of ETC Pollak (acquired by BGC Partners in 2005) and Aurel (formerly Aurel-Leven), and it is authorized as a Prestataire de Services d'Investissement (PSI) by the ACPR and regulated by the AMF. As of 2025, Aurel BGC employed 163 people in Paris and generated €126.7 million in Produit Net Bancaire, processing €1,498 billion of annual bond market volume across 89,389 transactions and serving 504+ institutional clients that collectively represent more than 95% of French institutional investors alongside major institutions in the UK, Benelux, Switzerland, Germany, and Italy.

The company's core technology stack consists of an ACPR-authorized Organised Trading Facility (OTF) branded Aurel BGC OTF (Operating MIC AURB, Segment MIC AURO) for electronic and voice trading across bonds, money markets, equities, and derivatives, supplemented by the Aurel Digital Auctions fully electronic platform covering cash equities, listed and OTC derivatives, fixed income, and digital assets/ETPs. Execution systems are MiFID II-compliant with RTS 1 and 2 pre/post-trade transparency reporting and best-execution handling. Product surface spans bond intermediation (corporate, financial, sovereign, covered, agency, convertible, high yield in EUR, USD, CHF, GBP), money market intermediation (NEUCP/NEUMTN, deposits, swaps), equities (in partnership with Société Générale for primary liquidity), equity and rate derivatives (continuous presence since 1998), commodity derivatives on major global exchanges, and structured products (EMTN, warrants, UCITS, OTC swaps). A corporate finance division provides IPO/IBO advisory, private placements, debt capital markets, M&A, corporate broking, and €1M-€100M block transactions for French small and mid-cap issuers.

Revenue is generated through three mechanics: (1) transaction commissions on intermediation in bond, money market, equity, and derivative flows (the dominant stream contributing the bulk of the €126.7M PNB), (2) subscription-based economic and strategy research publications (Morning Audio, Point de Conjoncture, Point Flash, Morning ETF, sector reports co-produced with Altaire Economics), and (3) advisory fees from corporate finance mandates including IPOs, IBOs, private placements, M&A, debt capital markets, corporate broking, and special-situation blocks. Distribution is exclusively direct: enterprise sales teams operate from dedicated trading desks in Paris across fixed income, equities, derivatives, and structured products, with extended coverage through BGC Group's global network, the Aurel BGC Monaco SAM subsidiary (licensed by the CCAF since October 2021), and EU passporting branches in Copenhagen, Dublin, Frankfurt, and Madrid plus a London branch. Pricing is non-public and services are restricted to professional clients and eligible counterparties under MiFID II.

Name

Aurel BGC

Legal name

Aurel BGC

Website

https://aurel-bgc.com

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

251–500 employees

Short description

Aurel BGC is a French multi-asset brokerage and corporate finance advisor, subsidiary of BGC Partners (NASDAQ: BGC), providing bond, equity, derivative, and structured product intermediation plus economic research to institutional investors and mid-cap corporates across Europe.

Ownership category

akta.pro rank

Product category

Institutional Brokerage & Corporate Finance

NAICS

Securities and Commodity Contracts Intermediation and Brokerage (5231), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Portfolio Management and Investment Advice (52394)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Investment Advice (6282)

akta.pro primary industry

Capital Markets Advisory (IPO Readiness, SPAC, ECM/DCM Advisory) (BPAHAOAL)

akta.pro secondary industries

Equity Capital Markets Advisory (Equity Issuance Strategy & Readiness) (FSACAAAI), Follow-on Offerings (FPOs) (FSACAAAB), Cross-Border M&A Advisory (FSAEAGAH)

Keywords

• Fixed income brokerage
• Equity market intermediation
• Corporate finance advisory
• Institutional research services
• Derivatives trading services

Headquarters

HQ city

Paris

HQ country

France

HQ region

Europe

Offices6 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

1. Brokerage Commissions: Commission-based revenue from intermediation on bond markets, money markets, equity markets, and derivatives. Generates approximately 126.7 million euros in PNB (Produit Net Bancaire) from intermediation activities.
2. Research Subscriptions: Subscription-based economic and strategy research publications provided to professional clients including Morning Audio, Point de Conjoncture, Point Flash, and sector-specific reports.
3. Corporate Finance Advisory: Fees from corporate finance services including IPOs, IBOs, private placements, M&A advisory, and debt capital markets operations for small and mid-cap companies.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core offering

Aurel BGC is a French investment services provider (Prestataire de Services d'Investissement, PSI) authorized by the ACPR and regulated by the AMF, offering multi-asset brokerage and intermediation across bond markets, money markets, equity markets, equity and rate derivatives, commodity derivatives, and structured products. The firm also delivers corporate finance advisory (IPOs, M&As, private placements, debt capital markets, corporate broking, and block transactions) and produces proprietary economic and strategy research for professional clients and eligible counterparties.

Product overview

Aurel BGC is a financial intermediary and investment services provider offering a comprehensive suite of brokerage, research, and corporate finance services. The core intermediation business covers bond markets, money markets, equity markets, equity and rate derivatives, commodity derivatives, and structured products, generating approximately €126.7 million PNB in 2025 with 163 employees. The research division, conducted in collaboration with Altaire Economics, provides daily publications including Morning Audio, Market News, Point Flash, Point de Conjoncture, 24H sur les Actions, and 24H sur les Taux. The Aurel sub-brand provides fully electronic market access via the Aurel Digital Auctions platform. Corporate Finance services encompass IPO advisory, M&A, private placements, debt capital markets, corporate broking, and block transactions for special situations. A Monaco subsidiary extends services to the Monaco financial platform. All services are offered exclusively to professional clients and eligible counterparties under MiFID II, with the company regulated by ACPR and AMF.

Differentiator

Problem solved

Functional benefit

Products and services

• Intermédiation (Brokerage & Intermediation) Core brokerage and intermediation services covering bond markets, money markets, equity markets, equity and rate derivatives, commodity derivatives, and structured products. Generates approximately €126.7 million PNB with 163 employees serving institutional clients.
• Marchés obligataires (Bond Markets) Bond market intermediation services covering corporate, financial, sovereign, covered, agency, convertible, and high yield bonds in EUR, USD, CHF, and GBP, with €1,498 billion annual volume and 89,389 transactions.
• Marchés monétaires (Money Markets)

Quantifiable outcome

• €1,498 billion annual transaction volume on European bond markets
• +3 more outcomes

Named customers7 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Scale indicators8 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Kepler Cheuvreux: European equity brokerage and capital markets advisor headquartered in Paris; directly comparable to Aurel BGC in French institutional equity execution, research distribution and mid-cap advisory services.
• TP ICAP: London-listed global interdealer broker operating across rates, credit, equities and commodities; comparable to Aurel BGC as a multi-asset voice/electronic interdealer broker serving institutional clients.
• Bryan, Garnier & Co: Paris-based European investment bank specializing in small/mid-cap ECM, M&A and sector research; competes head-on with Aurel BGC's corporate finance advisory for French growth companies.
• Oddo BHF: Paris-headquartered Franco-German financial group with corporate finance, brokerage and asset management; competes with Aurel BGC in French small/mid-cap IPO advisory and equity research.
• GFI Group (BGC): Sister interdealer broker within the BGC Partners group; operates overlapping product lines to Aurel BGC across European rates, credit and equity derivatives.
• CM-CIC Market Solutions: French brokerage subsidiary of Crédit Mutuel group providing intermediation, research and corporate finance to institutional clients; directly competes with Aurel BGC in the French institutional market.
• Compagnie Financière Tradition: Swiss-listed interdealer broker with significant Paris operations; closely comparable as a multi-asset intermediary serving European institutional investors in fixed income, derivatives and money markets.

Broad incumbents

• Société Générale (Equity & Fixed Income): French universal bank providing execution services to Aurel BGC's equity franchise and competing across DCM, ECM and equity intermediation as a larger incumbent.
• Deutsche Bank (Capital Markets): Global investment bank with major European fixed income and equity intermediation operations; competes with Aurel BGC across bond and equity brokerage for institutional accounts.
• Natixis (Corporate & Investment Banking): French corporate and investment bank offering capital markets, DCM and M&A advisory; competes with Aurel BGC's DCM/IPO franchise as a broader full-service incumbent.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/aurel-bgc

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Aurel BGC