BGC Group unlocks value for shareholders with the sale of Rates Compression business Capitalab [Yahoo! Finance]
BGC Group, Inc. - Class A (BGC)
Last bgc group, inc. - class a earnings: 8/2 04:20 pm
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Source: Yahoo! Finance
NEW YORK Dec. 3, 2024 /PRNewswire/ -- BGC Group, Inc. (Nasdaq: BGC) ("BGC" or "the Company") today announced the sale of Capitalab, a leader in Rates Portfolio Compression and Margin Optimization, to Capitolis, the technology company helping to create safer and more vibrant capital markets. BGC expects to see continued growth and strong demand for its higher-margin, technology-driven business, Fenics, which generated more than $550 million in revenue over the last 12 months. "We are proud of the business we have built at BGC and believe Capitolis will be an excellent home for Capitalab, as it enters its next phase of growth," said Sean Windeatt , Chief Operating Officer and Global Co-Head of Brokerage of BGC Group . "The sale of Capitalab is yet another example of BGC unlocking value for its shareholders. We will continue to focus on growing our high-growth electronic offerings." Under the terms of the purchase agreement, BGC received $46 million in gross proceeds, subject to lim
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BGC
Earnings
- 10/31/24 - Beat
BGC
Sec Filings
- 12/6/24 - Form 8-K
- 11/21/24 - Form SC
- 11/21/24 - Form 8-K
- BGC's page on the SEC website