TechWeb

BGC Partners Announces Resumption of Operation of its eSpeed Platform

Oct 30, 2012 (04:10 PM EDT)
URL: http://www.techweb.com/show-press-release/X930673/bgc-partners-announces-resumption-of-operation-of-its-espeed-platform.html

NEW YORK, Oct. 30, 2012 /PRNewswire/ -- BGC Partners, Inc. (NASDAQ: BGCP) ("BGC Partners," "BGC," or "the Company"), a leading global brokerage company primarily servicing the wholesale financial and real estate markets, today announced the resumption of normal trading hours for its fully electronic U.S. Treasury trading platform.

The Company intends to open its eSpeed system for fully electronic U.S. Treasury trading tonight at 7:30 P.M. ET and to keep it open for its normal full trading session, which is until 5:35 P.M. ET tomorrow, October 31, 2012.  The system was closed upon the recommendation of SIFMA, which had recommended the cessation of bond trading activity yesterday and today due to the effects of Hurricane Sandy.

BGC expects eSpeed to open at 7:30 P.M. ET again tomorrow, and to resume its normal 22 hour trading day for each trading day thereafter.  The Company expects the system to be fully functional at tonight's open, including for users of its Kleos co-location facility and other features.

About BGC Partners, Inc.

BGC Partners is a leading global brokerage company primarily servicing the wholesale financial and real estate markets.  Products include fixed income securities, interest rate swaps, foreign exchange, equities, equity derivatives, credit derivatives, commercial real estate, commodities, futures, and structured products. BGC also provides a wide range of services, including trade execution, broker-dealer services, clearing, processing, information, and other back-office services to a broad range of financial and non-financial institutions.  Through its eSpeed, BGC Trader, and BGC Market Data brands, BGC offers financial technology solutions, market data, and analytics related to select financial instruments and markets.  Through the Newmark Grubb Knight Frank brand, the Company offers a wide range of 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. For more information, please visit www.bgcpartners.com

eSpeed, BGC, BGC Trader, Grubb & Ellis, Grubb and Newmark are trademarks and service marks of BGC Partners, Inc. and its affiliates.  Knight Frank is a service mark of Knight Frank Limited Corp., used with permission.

Discussion of Forward-Looking Statements by BGC Partners

Statements in this press release regarding BGC Partners' business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. 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 Partners' Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors set forth in BGC's public filings, including our most recent Form 10-K and any updates to such risk factors contained in subsequent Form 10-Q or Form 8-K filings.



 

SOURCE BGC Partners, Inc.