BGC Group reported record third-quarter results, marked by significant revenue growth across all asset classes and geographic regions.

The group’s revenue hit $561 million, representing a 16% year-over-year increase, boosted by growth across asset classes and geographic regions. The company experienced a pre-tax adjusted earnings increase of over 24%, attributed to expansion in the traditional and emerging markets.

Strong Results Across All Segments

BGC’s strong performance was also bolstered by its Fenics division, which reported revenues of $142.1 million, a 13.3% jump from the same period last year. Fenics Growth Platforms, including FMX and PortfolioMatch, reportedly experienced substantial gains, highlighting the group's push into the electronic trading space.

Besides that, the group acquired Sage Energy Partners and has a pending agreement to purchase OTC Global Holdings as part of a shift toward energy and commodity markets. BGC expects both acquisitions to contribute more than $450 million annually in revenue.

The company plans to integrate these assets into its portfolio by the end of Q1 2025, aligning with its vision of expanding in high-growth sectors. BGC has acquired Sage Energy Partners and plans to close its acquisition of OTC Global Holdings by early next year. These deals are expected to add over $450 million to annual revenue, boosting BGC’s presence in energy and commodities markets.

BGC’s FMX platform achieved record daily volumes in both the US Treasury and FX markets. The average daily volume for FMX US Treasury trading reached $53 billion, a 40% increase compared to last year, while its FX trading ADV climbed over 38% to surpass $9 billion.

Regional Revenue Growth

Breaking down its regional performance, BGC reported growth across all major markets, with the Americas, EMEA, and APAC regions posting revenue increases of 19%, 16.5%, and 8.3%, respectively. This broad-based growth was reflected in several key revenue areas, including rates, ECS, and foreign exchange, all of which reportedly posted double-digit gains.

The rates division led the way with a 19.6% increase, supported by higher trading volumes across asset classes, while ECS revenues rose by 21.3%, driven by the company’s expanding energy business and environmental solutions.

In the FX segment, revenues climbed by 15.4%, primarily fueled by emerging markets and high demand for G10 options. Equities experienced modest gains at 1.3%, as growth in US and European derivatives counterbalanced softer demand in Asian markets.

Meanwhile, BGC’s subscription-based data and network business, including its Lucera division, grew by 34%, reflecting the demand for trading infrastructure services.

BGC’s total adjusted EBITDA grew by 11.4% for the quarter, underscoring its strong financial position and ability to reinvest in strategic growth areas. The company noted that its quarterly dividend of $0.02 per share will be paid to shareholders on December 4, 2024.