BGC Group Receives UK Benchmark Administrator License
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 3d ago
0mins
BGC Group announced that BGC Brokers is now authorized as a U.K. registered benchmark administrator licensee with the U.K. Financial Conduct Authority under the U.K. Benchmarks Regulation. BGC's approved benchmark offering includes swaps pricing in EUR IRS, GBP IRS, & XCCY swaps, and EU and U.K. Inflation swaps.
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Analyst Views on BGC
Wall Street analysts forecast BGC stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for BGC is 14.00 USD with a low forecast of 14.00 USD and a high forecast of 14.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
2 Analyst Rating
2 Buy
0 Hold
0 Sell
Moderate Buy
Current: 8.990
Low
14.00
Averages
14.00
High
14.00
Current: 8.990
Low
14.00
Averages
14.00
High
14.00
About BGC
BGC Group, Inc. is a global marketplace, data, and financial technology company across the Energy, Commodities, and Shipping (ECS) and financial markets. It specializes in the brokerage and trade execution of a range of ECS products, including listed derivatives and physical commodities in the oil and refined, and environmental and energy transition, markets, as well as ship chartering. It also provides brokerage services across fixed income securities, such as government bonds and corporate bonds, as well as related interest rate derivatives and credit derivatives, foreign exchange, equities and futures and options. It also provides network and connectivity solutions, market data and related information services and post-trade services. Through its electronic brands, it offers multiple trade execution, market infrastructure and connectivity services, as well as post-trade services. It utilizes electronic trading platforms to provide execution and market data services to its customers.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
BGC Group Receives UK Benchmark Administrator License
- Benchmark Administrator Authorization: BGC Brokers L.P. has been authorized by the U.K. Financial Conduct Authority (FCA) as a registered benchmark administrator, marking a significant advancement in the company's benchmark management capabilities.
- Expanded Product Range: The newly approved benchmark offerings include EUR IRS, GBP IRS, cross-currency swaps, and EU and U.K. inflation swaps, enhancing BGC's competitiveness in the interest rate derivatives market.
- Improved Data Quality: By providing FCA-regulated benchmark reference pages, BGC can offer clients higher quality data that supports their valuation and risk management activities, thereby increasing client trust.
- Commitment to Market Expansion: BGC executives indicated plans to expand benchmark products into other markets, reflecting the company's commitment to transparency and customer service, further solidifying its market position.
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BGC Closes $119 Million Sale of kACE Financial to smartTrade
- Significant Transaction Value: BGC Group completed the sale of kACE Financial for up to $119 million, including an initial payment of $80 million and up to $39 million in contingent cash based on performance metrics, demonstrating the company's commitment to unlocking shareholder value.
- Enhanced Market Position: This transaction allows BGC to focus on its core operations, while kACE's real-time pricing and analytics platform for complex FX derivatives will bolster smartTrade's competitiveness in the multi-asset electronic trading space.
- Clear Financial Impact: Although the gains from this sale will be included in BGC's consolidated results, they are expected to be excluded from adjusted earnings, which may influence investor expectations regarding the company's future profitability.
- Strategic Focus Shift: By divesting kACE, BGC can optimize its asset portfolio and concentrate resources on higher-growth potential business areas, thereby enhancing overall market competitiveness and shareholder returns.
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