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BGC News
BGC Events
Fanatics Acquires Water Street Labs and CX Clearinghouse from BGC
Fanatics and BGC Group announced that they have entered into an agreement for Fanatics to acquire Water Street Labs and CX Clearinghouse L.P. from BGC. The acquisition of Water Street Labs, a Commodity Futures Trading Commission registered Designated Contract Market, and CX Clearinghouse, L.P., a CFTC registered Derivatives Clearing Organization (DCO), will enable Fanatics to offer its own federally regulated prediction market exchange and expand its prediction market offerings on Fanatics Markets. In addition, Fanatics and BGC will partner to deliver new market data in this asset class with BGC contributing its established market data and analytics capabilities to enable the development of new client data products that combine prediction market sentiment with traditional financial market data. Fanatics Markets is available on iOS, Android and on the web in 23 states and four U.S territories.
BGC Reaffirms Q2 2026 Revenue and Pre-tax Adjusted Earnings Outlook
BGC reaffirmed its previously stated outlook ranges for revenue and pre-tax Adjusted Earnings for the second quarter of 2026.
BGC Group Launches New Compute Infrastructure Markets Division
BGC Group announced the launch of BGC Compute Infrastructure Markets, a new division focused on the growing secondary market for compute and memory capacity. As AI adoption accelerates, Compute and Memory have emerged as critical assets that require a transparent and efficient secondary market. Backed by BGC Group's experience as the world's largest energy broker, BGC CIM is designed to bring institutional-grade market structure to one of the fastest emerging areas of the digital economy - enabling transparent price discovery, real-time risk management and more efficient execution for market participants. BGC CIM will sit within BGC Group's Energy, Commodities and Shipping business and will initially focus on the over-the-counter market. Led by Marc Kuber and Zach Espinosa as Co-Heads, the division will provide clients with dedicated brokerage support to navigate this growing asset class.
BGC Reports Q1 Revenue of $955.5M, 44% Growth
Reports Q1 revenue $955.5M, two estimates $923.36M. John Abularrage, Co-Chief Executive Officer, said: "BGC delivered another record quarter. Revenues increased 44 percent to $955 million, with growth across every asset class and geography. Excluding OTC, revenues grew 23 percent to $817 million, also a record. Additionally, pre-tax earnings hit an all-time high, up more than 44 percent. Our ECS revenues more than doubled to $330 million, reinforcing our position as the world's largest energy broker. FMX posted its best quarter ever, setting ADV records at FMX UST, FMX FX, and FMX Futures. FMX UST ADV grew 51 percent in the first quarter to a record $90 billion, representing 41 percent market share. We built on last year's $25 million cost reduction plan, which is now expected to result in $35 million of annualized cost savings. We will continue to identify and execute cost savings throughout 2026 to drive further margin expansion."
Sees Q2 Pre-Tax Adjusted Earnings of $178M-$196M
Sees Q2 pre-tax adjusted earnings $178M-$196M.
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