LONDON, July 19, 2016 /PRNewswire/ -- BGC Partners, Inc. (NASDAQ: BGCP) ("BGC Partners," "BGC," or "the Company") a leading global brokerage company servicing the financial and real estate markets, today announced that it has entered into an agreement1 to acquire the businesses of Sunrise Brokers Group ("Sunrise Brokers"), an independent financial brokerage with a leading reputation in worldwide equity derivatives.
"This transaction enables us to further expand our equity derivatives offering and complements our existing financial services business," said Shaun D. Lynn, President, BGC Partners. "As a recognized leader in its market segments, Sunrise Brokers is clearly a valuable addition to the BGC family of brands." In 2015, Sunrise Brokers was voted overall Number One Equity Products Broker of the Year by Risk magazine for the ninth year running and Number One Equity Exotic Derivatives for the thirteenth year running.
Details of the transaction were not disclosed, and completion of the transaction is subject to legal and regulatory approvals and certain closing conditions. Sunrise Brokers generated consolidated revenues of approximately $90 million in the financial year ending December 31, 2015.
About BGC Partners, Inc.:
BGC Partners is a leading global brokerage company servicing the financial and real estate markets. BGC owns GFI Group Inc., a leading intermediary and provider of trading technologies and support services to the global OTC and listed markets. The Company's Financial Services offerings include fixed income securities, interest rate swaps, foreign exchange, equities, equity derivatives, credit derivatives, commodities, futures, and structured products. BGC provides a wide range of services, including trade execution, broker-dealer services, clearing, trade compression, post trade, information, and other services to a broad range of financial and non-financial institutions. Through brands including FENICS, BGC Trader, and BGC Market Data, BGC offers financial technology solutions, market data, and analytics related to numerous financial instruments and markets. Real Estate Services are offered through brands including Newmark Grubb Knight Frank, Newmark Cornish & Carey, ARA, Computerized Facility Integration, Landauer Valuation & Advisory, and Excess Space. Under these names, the Company provides 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. BGC's common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit http://www.bgcpartners.com.
BGC, BGC Trader, GFI, FENICS, FENICS.COM, Capitalab, Swaptioniser, Newmark, Grubb & Ellis, and Grubb are trademarks, registered trademarks and/or service marks of BGC Partners, Inc. and/or its affiliates. Knight Frank is a service mark of Knight Frank (Nominees) Limited.
About Sunrise Brokers:
Founded in 1991, Sunrise Brokers offers broking services across equity, credit, FX, hybrid and commodity derivative asset classes. Sunrise Brokers was voted as overall number one Equity Products Broker for the ninth consecutive year by Risk magazine in 2015. The firm covers its markets globally from its offices in London, New York and Hong Kong. Sunrise Brokers LLP is Authorized and Regulated in the United Kingdom by the Financial Conduct Authority. Sunrise Brokers (Hong Kong) Ltd is licensed in Hong Kong by the Securities and Futures Commission. Sunrise Brokers LLC is a FINRA Member Firm in the USA.
Please see www.sunrisebrokers.com for more information.
Discussion of Forward-Looking Statements about BGC Partners
Statements in this document regarding BGC's businesses 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 filings, including, but not limited to, the risk factors set forth in its public filings, including the most recent Form 10-K and any updates to such risk factors contained in subsequent Forms 10-Q or Forms 8-K.
1 via certain of its affiliates
SOURCE BGC Partners, Inc.