BGC Partners Receives Approval to Conduct Principal Bond Trading in Korea BGC is the first foreign interdealer broker to be granted this licence in Korea
NEW YORK, May 30, 2013 /PRNewswire/ -- BGC Partners, Inc. (NASDAQ: BGCP) ("BGC Partners," "BGC," or "Company"), a leading global brokerage company servicing the wholesale financial and real estate markets, today announced that its Korean entity, BGC Capital Markets and Foreign Exchange Broker (Korea) Limited, has been granted a licence by the Financial Services Commission (FSC) to offer principal bond trading to financial institutions in Korea.
BGC is the first foreign interdealer broker to be granted this licence in Korea. Offering Korean won-denominated bond products will complement BGC's existing foreign exchange, interest rate swap, cross currency swap, forward rate agreement and basis swap brokerage services in Korea.
Len Harvey, Executive Managing Director and General Manager, Asia Pacific said, "I am delighted that we have become the first foreign brokerage firm in Korea to receive this approval. Our ability to offer an even broader range of products in Korea marks an exciting chapter that underscores our mission to offer clients a valuable array of services."
About BGC Partners, Inc.
BGC Partners is a leading global brokerage company primarily servicing the wholesale financial and real estate markets. Products include fixed income securities, interest rate swaps, foreign exchange, equities, equity derivatives, credit derivatives, commercial real estate, commodities, futures, and structured products. BGC also provides a wide range of services, including trade execution, broker-dealer services, clearing, processing, information, and other back-office services to a broad range of financial and non-financial institutions. Through its eSpeed, BGC Trader, and BGC Market Data brands, BGC offers financial technology solutions, market data, and analytics related to select financial instruments and markets. Through the NGKF brand, the Company offers a wide range of commercial real estate services including leasing and corporate advisory, investment sales and financial services, consulting, project and development management, and property and facilities management. BGC's customers include many of the world's largest banks, broker-dealers, investment banks, trading firms, hedge funds, governments, corporations, property owners, real estate developers, and investment firms. For more information, please visit www.bgcpartners.com.
eSpeed, BGC, BGC Trader, Grubb & Ellis, Grubb and Newmark are trademarks and service marks of BGC Partners, Inc. and its affiliates. Knight Frank is a service mark of Knight Frank Limited Corp., used with permission.
Discussion of Forward-Looking Statements by BGC Partners
Statements in this press release regarding BGC Partners' business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. Except as required by law, BGC undertakes no obligation to release any revisions to any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see BGC's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors set forth in our public filings, including our most recent Form 10-K and any updates to such risk factors contained in subsequent Form 10-Q or Form 8-K filings. These risks include those related to the possibility that the transaction does not close in a timely manner or at all; the possibility that the conditions to completion of the transaction, including receipt of required regulatory approvals, are not satisfied; the possibility that any of the anticipated benefits of the proposed transaction will not be realized; the effect of the announcement of the transaction on BGC's business relationships, operating results and business generally; general competitive, economic, political and market conditions and fluctuations; and actions taken or conditions imposed by regulatory authorities.
SOURCE BGC Partners, Inc.