PR Newswire
NEW YORK, Sept. 13, 2024
NEW YORK, Sept. 13, 2024 /PRNewswire/ -- BGC Group, Inc. (Nasdaq: BGC) and 10 of the world's leading investment banks and market-making firms today announced they will launch the highly anticipated FMX Futures Exchange ("FMX"), an exchange for U.S. interest rate futures, the most widely traded futures contracts in the world, on Monday, September 23, 2024 at 9:00 p.m. ET., which represents the beginning of the trade date Tuesday, September 24, 2024. FMX will initially launch with SOFR futures and will add U.S. treasury futures in the first quarter of 2025.
FMX expects to provide clients with significant capital savings through its clearing partnership with LCH Limited ("LCH"), a fully approved CFTC Derivatives Clearing Organization and one of the largest clearers of interest rate swaps in the world. LCH has $225 billion of interest rate swap collateral securing its interest rate swaps, against which LCH members expect to cross margin eligible U.S. interest rate futures traded on FMX Futures Exchange.1
FMX Futures Exchange is a part of FMX Holdings LLC, which includes the world's fastest growing cash U.S. Treasuries marketplace and rapidly growing spot Foreign Exchange platform. Bank of America, Barclays, Citadel Securities, Citi, Goldman Sachs, J.P. Morgan, Jump Trading Group, Morgan Stanley, Tower Research Capital, and Wells Fargo are equity owners of FMX Holdings LLC.
About BGC Group, Inc.
BGC Group, Inc. (Nasdaq: BGC) is a leading global marketplace, data, and financial technology services company for a broad range of products, including fixed income, foreign exchange, energy, commodities, shipping, equities, and now includes the FMX Futures Exchange. BGC's clients are many of the world's largest banks, broker-dealers, investment banks, trading firms, hedge funds, governments, corporations, and investment firms.
BGC and leading global investment banks and market making firms have partnered to create FMX, part of the BGC Group of companies, which includes a U.S. interest rate futures exchange, spot foreign exchange platform and the world's fastest growing U.S. cash treasuries platform.
For more information about BGC, please visit www.bgcg.com.
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. These include statements about the Company's business, results, financial position, liquidity and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. 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 ("SEC") 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.
MEDIA CONTACT:
BGC Group
Erica Chase
[email protected]
+1 212-610-2419
INVESTOR CONTACT:
Jason Chryssicas
+1 212-610-2426
1 Source: Clarus Financial Technology. Cleared interest rate swap collateral data as of 3/29/24.
View original content to download multimedia:https://www.prnewswire.com/news-releases/bgc-groups-fmx-futures-exchange-to-launch-on-september-23-2024-302247730.html
SOURCE BGC Group, Inc.
