Restricts Non-essential Business Travel for Employees due to COVID-19
Will Not Attend Upcoming Conferences
Postpones Previously Scheduled Fenics Event for Investors and Analysts
NEW YORK, March 3, 2020 /PRNewswire/ -- BGC Partners, Inc. (NASDAQ: BGCP) ("BGC" or the "Company"), a leading global brokerage and financial technology company, today announced that it is taking certain proactive and preventative safety measures due to the spread of the novel coronavirus ("COVID-19").
BGC has been carefully monitoring the evolving situation following the outbreak of COVID-19, which was declared a global emergency by the World Health Organization on January 30, 2020. The Company places the utmost importance on the safety and well-being of its employees, clients, and other internal and external stakeholders. After a close review of guidance by global health authorities and out of an abundance of caution, BGC has implemented temporary travel restrictions on its employees globally, effective immediately.
Due to these restrictions, and because a significant percentage of BGC's executives and senior managers are based outside of the U.S., the Company made the difficult decision to withdraw from exhibiting in or participating in various industry conferences. This included the 45th International Futures Industry Conference, which was previously scheduled to be held in Boca Raton, Florida from March 10-12, 2020. In addition, BGC is postponing its Fenics1 half-day event for sell-side analysts and professional investors, which was previously scheduled to be held in New York City on Wednesday, April 8, 2020. BGC currently expects to hold an investor event in the second half of 2020. The Company also anticipates disclosing additional financial information with respect to Fenics when it releases its financial results for the first quarter of 2020 in May of this year and in subsequent quarters.
About BGC Partners, Inc.
BGC Partners is a leading global brokerage and financial technology company. BGC's offerings include fixed income securities, interest rate swaps, foreign exchange, equities, equity derivatives, credit derivatives, commodities, futures, and structured products. BGC provides a wide range of services, including trade execution, broker-dealer services, clearing, trade compression, post trade, information, and other services to a broad range of financial and non-financial institutions. Through brands including Fenics, BGC Trader, Capitalab, Lucera, and Fenics Market Data, BGC offers financial technology solutions, market data, and analytics related to numerous financial instruments and markets. BGC, BGC Trader, GFI, Fenics, Fenics Market Data, Capitalab, and Lucera are trademarks/service marks and/or registered trademarks/service marks of BGC Partners, Inc. and/or its affiliates.
BGC's customers include many of the world's largest banks, broker-dealers, investment banks, trading firms, hedge funds, governments, corporations, and investment firms. BGC's Class A common stock trades on the NASDAQ Global Select Market under the ticker symbol "BGCP". BGC Partners is led by Chairman of the Board and Chief Executive Officer Howard W. Lutnick. For more information, please visit http://www.bgcpartners.com. You can also follow BGC at https://twitter.com/bgcpartners, https://www.linkedin.com/company/bgc-partners and/or http://ir.bgcpartners.com/Investors/default.aspx.
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. Except as required by law, BGC undertakes no obligation to update any forward-looking statements. 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's Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.
Ujjal Basu Roy or Jason McGruder
1 For the purposes of this document, the Company's fully electronic businesses may be collectively referred to as "Fenics". Fenics includes revenues from fully electronic brokerage, as well as data, software, and post-trade services.
SOURCE BGC Partners, Inc.