BGC Group Revenue Jumps 15% on Record FX and Treasury Trading

BGC Group posted strong results for the first quarter,reportedly boosted by strong demand for foreign exchange and energy tradingplatforms. Revenue was $664.2 million for the first three months of2025, a 14.8% increase over the same period last year. According to the company, the jump came as the company’selectronic and hybrid brokerage platforms registered a substantial level oftrading, particularly in interest rates, environmental contracts, and FXmarkets. FMX Breaks Trading Volume Records “Our strong results were driven by robust, organic growthacross both our Voice / Hybrid and Fenics businesses, which each achieved newall-time highs, said Sean Windeatt, the Co-Chief Executive Officer. “FMX hadits best ever quarter, with record volumes and market share across both our FMXUST and FX platforms, driven by strong support from our FMX equity partners.” FMX, BGC’s electronic platform, played a central role in thegrowth. FMX U.S. Treasuries recorded average daily volumes (ADV) above $60billion, a 33% year-over-year increase, with a single-day spike past $100billion in late February. Market share rose to 33%, up from 28% a year earlier. FX trading volumes more than doubled to $14.5 billion ADV,fueled by stronger support from equity partners and new user onboarding. Theplatform also advanced preparations for its U.S. Treasury futures launch, nowslated for May 2025. Revenues in BGC’s Environmental and Commodity Solutions(ECS) unit rose 26.6% to $149.9 million. This growth stemmed from rising demandfor energy transition products, including oil and refined products. FX revenuesalso surged 31% to $110 million, while interest rate trading climbed 14.8% toa record $200.9 million. Credit trading dipped slightly by 0.7%, held back by softeremerging markets and European activity. Equities revenue held flat at$62.9 million, with stronger activity in U.S. and European markets offset byweaker Asian derivatives trading. Data and network services added 5.2%, mainly through FenicsMarket Data and Lucera, though the late-2024 sale of Capitalab trimmed overallgains. Acquisition of OTC Global Holdings On April 1, just after the quarter closed, BGC completed itsacquisition of OTC Global Holdings. The deal is expected to add more than $400million in annual revenue and transform BGC into the world’s largest ECSbroker. “We expect the acquisition of OTC to be immediatelyaccretive and generate meaningful shareholder value,” Windeatt added. Adjustedearnings before tax rose 18.4% to $160.2 million, with post-tax earnings up16.1% to $143 million. Adjusted EBITDA came in at $199.8 million, slightly belowlast year’s level due to a one-time gain in Q1 2024. Excluding that, EBITDArose over 16%. BGC’s board declared a $0.02 quarterly dividend per share,payable June 10 to shareholders of record as of May 27. BGC Group posted strong results for the first quarter,reportedly boosted by strong demand for foreign exchange and energy tradingplatforms. Revenue was $664.2 million for the first three months of2025, a 14.8% increase over the same period last year. According to the company, the jump came as the company’selectronic and hybrid brokerage platforms registered a substantial level oftrading, particularly in interest rates, environmental contracts, and FXmarkets. FMX Breaks Trading Volume Records “Our strong results were driven by robust, organic growthacross both our Voice / Hybrid and Fenics businesses, which each achieved newall-time highs, said Sean Windeatt, the Co-Chief Executive Officer. “FMX hadits best ever quarter, with record volumes and market share across both our FMXUST and FX platforms, driven by strong support from our FMX equity partners.” FMX, BGC’s electronic platform, played a central role in thegrowth. FMX U.S. Treasuries recorded average daily volumes (ADV) above $60billion, a 33% year-over-year increase, with a single-day spike past $100billion in late February. Market share rose to 33%, up from 28% a year earlier. FX trading volumes more than doubled to $14.5 billion ADV,fueled by stronger support from equity partners and new user onboarding. Theplatform also advanced preparations for its U.S. Treasury futures launch, nowslated for May 2025. Revenues in BGC’s Environmental and Commodity Solutions(ECS) unit rose 26.6% to $149.9 million. This growth stemmed from rising demandfor energy transition products, including oil and refined products. FX revenuesalso surged 31% to $110 million, while interest rate trading climbed 14.8% toa record $200.9 million. Credit trading dipped slightly by 0.7%, held back by softeremerging markets and European activity. Equities revenue held flat at$62.9 million, with stronger activity in U.S. and European markets offset byweaker Asian derivatives trading. Data and network services added 5.2%, mainly through FenicsMarket Data and Lucera, though the late-2024 sale of Capitalab trimmed overallgains. Acquisition of OTC Global Holdings On April 1, just after the quarter closed, BGC completed itsacquisition of OTC Global Holdings. The deal is expected to add more than $400million in annual revenue and transform BGC into the world’s largest ECSbroker. “We expect the acquisition of OTC to be immediatelyaccretive and generate meaningful shareholder value,” Windeatt added. Adjustedearnings before tax rose 18.4% to $160.2 million, with post-tax earnings up16.1% to $143 million. Adjusted EBITDA came in at $199.8 million, slightly belowlast year’s level due to a one-time gain in Q1 2024. Excluding that, EBITDArose over 16%. BGC’s board declared a $0.02 quarterly dividend per share,payable June 10 to shareholders of record as of May 27.