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Bgc Group Inc
NASDAQ:BGC

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Bgc Group Inc
NASDAQ:BGC
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Price: 9.4 USD -0.63% Market Closed
Market Cap: $4.4B

Bgc Group Inc
Investor Relations

BGX Group Inc. is an intriguing player in the financial services industry, having carved out a distinctive niche within a highly competitive landscape. As a leading provider of brokerage and financial technology solutions, BGX Group operates at the intersection of traditional finance and cutting-edge technology. Its business model is anchored in facilitating the trading of a variety of financial instruments, including fixed income, foreign exchange, equities, and various derivatives. By leveraging its expertise in market data and analytics, the company provides clients with the capability to execute trades efficiently and seamlessly, thus enhancing market liquidity and ensuring competitive pricing. Importantly, BGX Group's strategic investments in proprietary trading platforms and technologies allow them to offer superior execution services, which in turn, become a substantial revenue stream for the company.

Behind the scenes, BGX Group's engine hums with a robust technological framework that connects institutional clients, such as investment banks, hedge funds, and asset managers, to global markets. Its revenue model is primarily driven by transaction-based fees, earned from the high volume of trades executed through its platforms. In addition, from subscription fees for its market data services, tailored to meet the needs of clients seeking comprehensive insights and analytics. The company's ability to innovate and adapt to shifting regulatory landscapes and market dynamics underpins its successful growth trajectory. By optimizing operational efficiencies and expanding its technological capabilities, BGX Group continues to solidify its role as a pivotal connector in the global financial ecosystem, balancing the old and the new with its dynamic offering.

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Last Earnings Call
Fiscal Period
Q4 2025
Call Date
Feb 12, 2026
AI Summary
Q4 2025

Record Revenues: BGC delivered record revenues for both Q4 and full year 2025, with Q4 revenue up 32% and full year up 30%, reaching nearly $3 billion.

EPS Growth: GAAP EPS grew by 24% and adjusted earnings by 19% for the year.

Strong Market Share Gains: The company became the world's largest energy broker and reported strong share gains across energy, rates, FX, and equities.

FMX Momentum: FMX Futures Exchange and FMX UST businesses reported record growth, with SOFR Futures ADV and open interest up 82% and 97% sequentially, and UST market share hitting 40%.

Cost Reduction: Completed the first phase of a cost reduction program, targeting $25 million in annualized savings for 2026.

Upbeat Guidance: Q1 2026 revenue guidance of $860–920 million, a 34% increase at the midpoint; pretax adjusted earnings guidance also strong, up over 32% year-over-year.

Portfolio Optimization: Continued focus on higher-growth businesses with divestiture of lower-growth Fenics assets for strong multiples.

Key Financials
Revenue
$756.4 million
Full Year Revenue
Nearly $3 billion
EPS
Not stated
Adjusted Earnings
Not stated
Brokerage Revenues
$694.6 million
ECS Revenues
$257.5 million
Rates Revenues
$197.4 million
Foreign Exchange Revenues
$102.8 million
Credit Revenues
$64.3 million
Equities Revenues
$72.7 million
Data, Network and Post-Trade Revenues
$36.7 million
Fenics Revenues
$163.9 million
Fenics Markets Revenues
$136.7 million
Fenics Growth Platforms Revenues
$27.2 million
FMX UST Average Daily Volume
$58.7 billion
FMX UST Market Share
39% for Q4
FMX Futures ADV
Not stated for Q4; January: approximately 40,000 contracts
FMX Futures Open Interest
Approximately 200,000 contracts at January-end
FMX FX ADV
$15.5 billion
PortfolioMatch ADV
Not stated
Lucera Revenues
Not directly stated
Pretax Adjusted Earnings
$161.3 million
Pretax Adjusted Earnings Margin
21.3%
Post-tax Adjusted Earnings
$149.6 million
Post-tax Adjusted Earnings Per Share
$0.31
Adjusted EBITDA
$190.6 million
GAAP Income from Operations Before Income Taxes
$25 million
Liquidity
$979.1 million as of December 31
Other Earnings Calls

Management

Mr. Howard W. Lutnick
Chairman of the Board & CEO
No Bio Available
Mr. Jason Williams Hauf
Executive VP & CFO
No Bio Available
Mr. Stephen Marcus Merkel
Executive VP, General Counsel & Assistant Corporate Secretary
No Bio Available
Mr. Steven J. Sadoff
Chief Information Officer
No Bio Available
Mr. Jason Angrisani
Senior MD and Chief Marketing & Communications Officer
No Bio Available
Ms. Lori Pennay
Senior MD, Global Head of HR & Chief Employment Counsel of the Americas
No Bio Available
Mr. Jean-Pierre Aubin
Executive MD, Co-Global Head of Brokerage & CEO of EMEA
No Bio Available
Mr. Louis James Scotto
Chief Executive Officer of FMX
No Bio Available
Mr. John Battaglia
Senior VP & Head of Carbon Markets
No Bio Available
Mr. Arran Rowsell
Head of Credit Strategy in London
No Bio Available

Contacts

Address
NEW YORK
New York City
499 Park Avenue
Contacts
+12129385000
www.bgcg.com
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