BGC Partners arranges first intermediate block trade of CME Group Bitcoin options in Asia
LONDON, July 5, 2022 / PRNewswire / – GFI (HK) Securities LLC, a subsidiary of BGC Partners, Inc. (Nasdaq: BGCP) (“BGC”), a leading global brokerage and financial technology company, is pleased to announce that it has hosted the first ever intermediate block trading of CME Group Bitcoin option contracts in Asia between Cumberland DRW LLC (“Cumberland”) and Goldman Sachs.
In addition to BGC’s comprehensive offering of cryptocurrencies, BGC is actively engaged in the digital community to ensure that it remains the trusted partner in this rapidly evolving asset class. This transaction brought together major global market players in the cryptocurrency field. Since the first quarter of 2022, BGC has been active in several segments of the digital marketplace, and successfully arranged transactions in options on several listed ETFs, and other transactions in options on CME Group Bitcoin futures, and options on CME Group Micro Bitcoin futures. On April 7, 2022BGC announced that it was arranging the first block trade ever with Micro Bitcoin options offered by CME Group.1
In anticipation of an active OTC wholesale marketplace for cryptocurrencies, BGC is establishing electronic platforms and voice / hybrid listed brokerages in major financial centers to facilitate the expected growth in this sector.
Brad HowellCEO Asia Pacific * for BGC, commented on today’s announcement, “We are pleased to partner with Cumberland and Goldman Sachs to conduct the first listed cryptocurrency futures and options block trading via CME Group in Asia. This transaction marks BGC’s continued commitment to expand our cryptocurrency offering and to partner with our global counterparties to develop this rapidly evolving asset class. “
Paul KremskyGlobal Head of Business Development for Cumberland, said: “Since Cumberland DRW first established an OTC cryptocurrency desk in 2014, the goal has always been to help institutions enter the digital asset space. BGC will be a key partner in opening the growing asset. class to a wider group of banks, mutual funds and investors, and Cumberland is extremely happy to work with them as a liquidity provider. “
About BGC Partners, Inc.
BGC Partners, Inc. (“BGC”) is a leading global brokerage and financial technology company. BGC, through its various affiliates, specializes in brokering a wide range of products, including fixed income (exchange rates and credit), currency, stocks, energy and commodities, freight and futures. BGC, through its various affiliates, also offers a wide range of services, including trading, brokerage, clearing, trade compression, post-trading, information and other back office services to a wide range of financial and non-financial institutions. Through its brands, including FMX, Fenics®, Fenics Market Data, Fenics GO, BGC®, BGC Trader, Capitalab® and Lucera®, BGC offers financial technology solutions, market data and analytics related to a range of financial instruments and markets. BGC, BGC Trader, GFI, Fenics, FMX, Fenics Market Data, Fenics GO, Capitalab and Lucera are trademarks / service marks and / or registered trademarks / service marks of BGC and / or its affiliates.
BGC’s clients include many of the world’s largest banks, brokerage dealers, investment banks, trading companies, hedge funds, governments, corporations and investment companies. BGC’s Class A shares are traded on the Nasdaq Global Select Market under the ticker symbol “BGCP”. BGC is chaired by the Chairman of the Board and the CEO Howard W. Lutnick. For more information, please visit http://www.bgcpartners.com. You can also follow BGC on https://twitter.com/bgcpartners, and or http://ir.bgcpartners.com/Investors/default.aspx.
Discussion of future-oriented statements about BGC
Statements in this document regarding BGC that are not historical facts are “forward-looking statements” that involve risk and uncertainty, which may cause actual results to differ from those contained in the forward-looking statements. These include statements about the effects of the COVID-19 pandemic on the company’s operations, results, financial position, liquidity and prospects, which may constitute forward-looking statements and are subject to the risk that the actual impact may deviate, possibly significantly, from what is now expected. Except as required by law, BGC assumes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties that may cause actual results to differ from those contained in the forward-looking statements, see BGC’s Securities and Exchange Commission documents, including, but not limited to, the risk factors and special term notes. stated in these registrations and any updates of such risk factors and special note on future-oriented information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.
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Investor contact:
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1 For more information, see the press release entitled “BGC Partners’ Sunrise Performs First Block Trading of Micro Bitcoin Options from CME Group.”
* excluded Greater China
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SOURCE BGC Partners, Inc.
