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BGC and Tradition Post Positive Q3 Results

Inter-dealer brokers
BGC and Tradition have both posted positive third quarter results.

BGC Partners says its Q3
2015 foreign exchange revenue was $83.7 million, a 48.9% increase from last
year during the same period.

“Our overall financial
services revenues improved by nearly 60 percent year-over-year, driven by the
acquisitions of GFI and RP Martin, as well as by organic growth from our desks
in foreign exchange, energy, and commodities,” says Shaun Lynn, president of
BGC.

BGC experienced a
revenue boost when it
first acquired GFI
, and Lynn expects that profits will increase even more
once the integration is completed.

BGC has also recorded its
highest-ever revenues for the fourth quarter in row with $700.9 million, a
55.8% increase for Q3 of last year.

 

Meanwhile, Tradition
has reported consolidated revenue of CHF 197.2 million, which is a 0.7%
increase from its Q3 2014 results.

paul@profit-loss.com Twitter: @Profit_and_Loss

Colin Lambert

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