BGC Partners Completes Rebranding to BGC Group and Transformation to C-Corp

BGC Partners, Inc., a global brokerage and financial technology company, has completed the change of its business name to BGC Group. Besides, the firm's legal structure has transformed to a full C-Corporation (C-Corp).

The company has disclosed this plan in November. C-corp is a legal structure for a corporation in which the owners, or shareholders, are taxed separately from the entity.

BGC's Nasdaq ticker symbol has been updated from 'BGCP' to 'BGC'.

"Today represents an important step for BGC, with its conversion to a simpler, more efficient corporate structure," commented Howard W. Lutnick, the Chairman of the Board and Chief Executive Officer of BGC.

Looking ahead, BGC seeks to attract a broader and more diverse investor base, and drive growth and deliver substantial long-term value to its shareholders.

In addition, the brokerage is going to launch FMX, its electronic trading platform.

In May, Fazzaco reported that BGC registered second highest ever quarterly total revenue​ for the first quarter ended March 31, 2023.