BGC Partners Announces Agreement to Acquire Sunrise Brokers, a Leading
Financial Brokerage for Equity Derivatives
LONDON - July 19, 2016 - 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 agreement 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.
Media Contact: Sarah Lukashok
+ 44 (0) 20 7894 7056
Investor Relations Contact: Jason McGruder
+ 44 (0) 20 7894 5057