Q2 2023 Performance Highlights - BGC Group's revenue increased by 13.2% to $493.1 million compared to $435.8 million in Q2 2022[8] - Adjusted Earnings before noncontrolling interest in subsidiaries and taxes increased by 17.1% to $105.5 million compared to $90.2 million in Q2 2022[8] - Post-tax Adjusted Earnings increased by 18.0% to $100.0 million compared to $84.7 million in Q2 2022[8] - Adjusted EBITDA increased by 18.5% to $135.1 million compared to $113.9 million in Q2 2022[8] - Post-tax Adjusted Earnings per share increased by 17.6% to $0.20 compared to $0.17 in Q2 2022[8] Revenue Growth and Composition - Fenics revenue increased by 14.2% to $125.1 million year-over-year[9] - The Americas experienced significant growth, with revenue up by 21.9%[9] - Total brokerage revenue increased by 11.5% to $443.6 million compared to $397.7 million in Q2 2022[9] - Data, Network & Post-trade revenue increased by 15.4% to $27.0 million compared to $23.4 million in Q2 2022[9] - Other revenue increased significantly by 53.4% to $22.5 million compared to $14.7 million in Q2 2022[9] - Energy & Commodities revenue increased significantly by 48.0% to $98.7 million compared to $66.7 million in Q2 2022[9] Corporate Conversion and Share Count - BGC Group completed its corporate conversion to a Full C-Corporation on July 1, 2023[7, 28] - The corporate conversion reduced the fully diluted weighted-average share count by approximately 21 million shares, or 4%, to 484 million shares[7, 34] FMX and Fenics UST - Fenics Growth Platforms record revenue of $18.1 million, up 46% year-over-year[7] - Fenics UST grew CLOB market share by >200 bps to 23% in Q2 2023[7]

OR Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days. ☒ Yes ☐ No Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Re ...

BGC Partners, Inc. (BGCP) Q1 2023 Earnings Conference Call May 3, 2023 10:00 AM ET Company Participants Jason Chryssicas - Head, Investor Relations Howard Lutnick - Chairman & Chief Executive Officer Sean Windeatt - Chief Operating Officer Jason Hauf - Chief Financial Officer Conference Call Participants Rich Repetto - Piper Sandler Operator Greetings and welcome to the BGC Partners' First Quarter 2023 Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer session wil ...

BGC PARTNERS, INC. NASDAQ: BGCP EARNINGS PRESENTATION 1Q 2023 T bgc DISCLAIMER 2 2 22 DISCUSSION OF FORWARD-LOOKING STATEMENTS ABOUT BGC Statements in this document regarding BGC that are not historical facts are "forward-looking statements" that involve risks and uncertainties, which could 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 business, results, financial position, liquidity ...

Business Development and Acquisitions - The company announced the FMX platform, which will integrate Fenics' U.S. Treasury business and is expected to launch by the end of Q1 2022[52]. - The company acquired Poten & Partners in November 2018, enhancing its shipping brokerage capabilities in LNG and tanker markets[60]. - Ginga Petroleum was acquired in March 2019, expanding the company's energy brokerage services for physical and derivative energy products[61]. - The acquisition of the Futures Exchange Group for $4.9 million is expected to enhance BGC's competitive position in the futures markets[500]. Revenue and Financial Performance - The top ten customers accounted for approximately 31.0% of total revenue, with the largest customer contributing about 4.7%[62]. - The company earned approximately 28.2% of its revenues in the first quarter for both 2022 and 2021, indicating seasonality in revenue generation[90]. - Fenics Growth Platforms revenue increased by 7.6% to $14.8 million in Q4 2022, while Fenics Markets revenue grew by 7.4% to $94.1 million in the same period[492][493]. - Fenics brokerage revenues rose by 8.6% to $83.8 million in Q4 2022, contributing to a 13.4% increase to $352.9 million for the year ended December 31, 2022[497]. - Brokerage revenue grew by 7% in December 2022 and continued to rise by 8% in the first 35 trading days of Q1 2023, with Rates, Foreign Exchange, and Credit increasing by 6%, 6%, and 4% respectively[515]. Market Data and Technology - Fenics Market Data provides a comprehensive suite of market data products, including fixed income and derivatives, available through various platforms[55]. - The proprietary electronic trading platform supports a wide range of products, including FX options and corporate bonds, with high throughput and low latency[69]. - The company has a growing patent portfolio and continues to seek opportunities to monetize its intellectual property[77]. - The competitive landscape includes significant players like Bloomberg L.P. and Refinitiv, which have established strong market data offerings[82]. Regulatory Environment and Compliance - The changing regulatory environment, including the Dodd-Frank Act, may impact operations and profitability[101]. - The SEC proposed new Regulation SE for the registration and regulation of Security-Based Swap Execution Facilities (SBSEFs) as part of reforms under the Dodd-Frank Act[104]. - The implementation of MiFID II has introduced significant changes in trading venues and transparency requirements, impacting corporate governance and transaction reporting[117]. - The ongoing adoption of Basel III standards may restrict large bank and broker-dealer customers' ability to operate proprietary trading businesses, necessitating additional capital to remain active in marketplaces[115]. Employee and Organizational Structure - As of December 31, 2022, the company employed approximately 3,818 employees, with 99% being full-time[136]. - The front-office revenue-generating headcount was approximately 1,985, down 6.0% from 2,111 a year ago, while average revenue per front-office employee increased by 6.1% to approximately $861,000, an all-time record[140]. - Approximately 17% of the company's equity is owned by employees, partners, executive officers, and directors on a fully diluted basis as of December 31, 2022[144]. - The company has established flexible work arrangements and compensation adjustments to facilitate employee retention[142]. Environmental, Social, and Governance (ESG) Initiatives - BGC Partners is focused on embedding ESG policies into corporate strategy to create long-term value and mitigate risks[159]. - The company is actively working on reducing its carbon footprint and increasing the use of renewable energy in its operations[162]. - BGC Environmental Brokerage Services provides innovative carbon offset solutions to support clients' emission reduction goals[161]. Market Trends and Future Outlook - The company expects sustained levels of increased secondary market trading volumes in Rates, Credit, and Foreign Exchange throughout 2023, driven by rising interest rates and a stronger U.S. dollar[514]. - The company anticipates broad-based growth across its businesses and asset classes, supported by a robust macro trading environment in 2023[527]. - The stronger U.S. dollar negatively impacted the company's total revenue by approximately $13.7 million for the quarter ended December 31, 2022, compared to the same quarter in 2021[484].

Financial Performance Highlights - BGC's Q4 2022 revenues (excluding Insurance) reached $436.5 million, a decrease of 1.2% year-over-year, but increased by 1.9% on a constant currency basis[7] - Full year 2022 revenues (excluding Insurance) were $1.7953 billion, down 2.3% compared to 2021, but up 1.4% on a constant currency basis[7] - Adjusted EBITDA for Q4 2022 was $124 million, a decrease of 46.2% year-over-year[7] - Full year 2022 Adjusted EBITDA was $486.2 million, a decrease of 17.4% compared to 2021[7] - Post-tax Adjusted Earnings per share for FY 2022 increased by 6.2% to $0.69[7] FENICS Business Overview - FENICS revenue for FY 2022 was $449 million, representing 25% of BGC's overall revenue (excluding Insurance), with a CAGR of 21% from 2014 to 2022[21] - FENICS Markets revenue for FY 2022 was $397 million, up 11% year-over-year (up 17% in constant currency)[23] - FENICS Growth Platforms revenue for FY 2022 was $53 million, up 16% year-over-year (up 18% in constant currency)[23] - FENICS' operating strategy focuses on converting voice/hybrid business into higher-margin technology-driven FENICS revenue and continuing to grow and scale BGC's FENICS Growth Platforms[21] Q1 2023 Outlook - First quarter-to-date 2023 revenue performance shows growth across all asset classes, with FENICS growth accelerating[9] - BGC's revenue outlook for Q1 2023 is approximately $10 million higher on a Constant Currency basis[11] - BGC expects to update its quarterly outlook towards the end of March 2023[11] Capital Structure and Credit Profile - BGC has a strong balance sheet and liquidity, providing financial flexibility[48] - Total liquidity as of December 31, 2022, was $524.308 million[47] - BGC maintains an investment-grade credit rating from Fitch, S&P, Kroll Bond Rating Agency, and Japanese Credit Rating Agency (JCR)[48]

BGC Partners, Inc. (BGCP) Q4 2022 Earnings Conference Call February 27, 2023 10:00 AM ET Company Participants Jason Chryssicas - Head of IR Howard Lutnick - Chairman of the Board & CEO Jason Hauf - CFO Sean Windeatt - Chief Operating Officer Conference Call Participants Gautam Sawant - Credit Suisse Rich Repetto - Piper Sandler Operator Welcome to BGC Partners Incorporated Fourth Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker presentation, ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________________________________ Class A Common Stock, $0.01 par value BGCP The Nasdaq Stock Market, LLC FORM 10-Q _________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | |--------- ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________________________________ Class A Common Stock, $0.01 par value BGCP The Nasdaq Stock Market, LLC FORM 10-Q _________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | |-------------- ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________________________________ Class A Common Stock, $0.01 par value BGCP The Nasdaq Stock Market, LLC FORM 10-Q _________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | |------------- ...