BGC Group, reported its financial results for the fourth quarter and full year ended December 31, 2024.1

Sean Windeatt, Chief Operating Officer: “BGC delivered record fourth quarter and full year revenues, growing by 11 and 12 percent, respectively. Our strong revenue growth was driven by our ECS, Rates, and Foreign Exchange businesses, which continue to outperform the market. This momentum has carried forward into 2025, with trading volumes currently outpacing last year’s first quarter records.

We would also like to congratulate our Chairman and CEO, Howard W. Lutnick, on his nomination as the 41st United States Secretary of Commerce. We are confident that, upon his confirmation, he will bring the same level of dedication and financial acumen to his new role serving the American people as he has at BGC.”

FOURTH QUARTER 2024 SUMMARY RESULTS

■ Record fourth quarter revenues of $572.3 million, a 10.8 percent increase versus last year.

■ Revenues across the Americas, APAC, and EMEA grew by 17.1 percent, 10.2 percent, and 6.5 percent, respectively.

■ Record fourth quarter Fenics revenues of $142.1 million, an increase of 8.6 percent, led by Fenics Growth Platforms, which grew by 20.2 percent.

■ Pre-tax Adjusted Earnings of $129.5 million, up 16.9 percent.

■ Post-tax Adjusted Earnings of $123.5 million, a 21.9 percent increase, resulting in post-tax Adjusted Earnings per share of $0.25, a 19.0 percent improvement.

■ Adjusted EBITDA of $192.0 million, 26.7 percent higher compared to last year.

Total Fenics revenues improved by 8.6 percent to $142.1 million:

Fenics Markets reported revenues of $116.7 million, an increase of 6.4 percent. This growth was driven by higher electronic volumes across Rates and Foreign Exchange, as well as higher market data revenues, partially offset by lower credit volumes.

Fenics Growth Platforms generated revenues of $25.5 million, a 20.2 percent increase, primarily driven by FMX, PortfolioMatch, and Lucera, partially offset by the sale of Capitalab in the fourth quarter. Excluding the impact of Capitalab, Fenics Growth Platforms would have grown by approximately 37 percent.

FMX:

▪ FMX UST generated average daily volume (“ADV”) of over $52 billion for the fourth quarter, up 28 percent compared to last year. This translated to over 30 percent market share for the fourth quarter, up from 29 percent last quarter and 26 percent a year ago.5

▪ FMX FX volumes improved by approximately 80 percent compared to last year on record ADV of more than $11 billion. FMX FX continues to expand its market share in the enormous global foreign exchange market.

▪FMX Futures Exchange continues to connect the world’s largest FCMs, recently onboarding FMX’s partners, Bank of America, Barclays and Citi. FMX expects to have more than 10 FCMs connected before the launch of U.S. Treasury futures around the end of the first quarter 2025. As FMX continues to connect and integrate more FCMs, ADV and open interest on the Exchange are expected to meaningfully accelerate.

The full results can be read here 

Source: BGC