BGC Group, Inc. (NASDAQ: BGC) has announced strong third-quarter financial results, highlighting significant growth across its key business segments. For the quarter ending September 30, 2024, BGC reported a 15.4% year-over-year increase in Foreign Exchange (Forex) revenues, reaching $92.1 million. This growth was largely driven by heightened demand in emerging markets and increased volumes in G10 currency options.
In addition to the Forex segment, BGC also reported gains in equities, with revenues up 1.3% year-over-year, totaling $53.3 million. This increase was supported by higher trading volumes in U.S. and European equity derivatives, although partially offset by a decrease in Asian equity derivatives activity.
Overall, BGC’s third-quarter revenue reached $561.1 million, reflecting a robust 16.2% increase compared to the same period last year. The company attributes this growth to broad-based strength across all asset classes and regions, underscoring its resilient business model and global reach.
This strong regional performance demonstrates BGC’s ability to adapt to diverse market conditions and capitalize on opportunities across different regions, ensuring balanced growth across its global operations.
Fenics Markets also showed solid growth, with revenues rising by 9.2% year-over-year. This performance underscores BGC’s ongoing investment in technology and digital solutions, which are increasingly central to the company’s growth strategy. Fenics has become a critical driver for BGC, enabling the company to diversify its offerings and enhance revenue streams through technology-driven trading solutions.
BGC’s strong third-quarter results reflect the company’s commitment to growth across a diversified portfolio of financial products and services. CEO Howard Lutnick noted, “Our record revenues in Forex and Fenics platforms highlight the strength of our business model and our ability to capture growth across various markets. We remain focused on enhancing our digital capabilities and expanding our product suite to serve our global client base effectively.”
BGC’s robust performance this quarter reinforces its trajectory for growth, as it continues to invest in expanding its market presence and developing advanced trading solutions. The company’s commitment to innovation, along with its deep understanding of market dynamics across regions, has positioned it as a leader in the financial services industry.
With strong revenues across Forex, equities, and digital trading platforms like Fenics, BGC Group remains well-poised for continued growth in the final quarter of 2024. The company’s results underscore its resilience and adaptability in a complex, evolving market environment, setting the stage for further achievements in 2025 and beyond.
About BGC Group, Inc.
BGC Group, Inc. is a leading global brokerage and financial technology company providing a range of services to the financial markets. With a focus on innovation, BGC leverages advanced digital platforms like Fenics to offer clients across the globe effective trading and data solutions. BGC is headquartered in New York City and operates in key financial markets worldwide.
