Interdealer brokers Tullett Prebon and BGC Partners have decided to bury the legal hatchet over charges that BGC attempted to poach employees from the London-based firm in 2009. As part of a settlement, announced Jan. 13, BGC will be paying its rival $100 million in an agreement hammered out via the New Jersey Superior Court…. Read More >>
CME Group Sweetens Bid for GFI
Derivatives market operator CME Group has revised its months-old bid to purchase interdealer broker GFI Group, raising its offered price on GFI shares to $5.25 a share from $4.55, in effect matching an earlier offer for GFI by rival interdealer broker BGC Partners. CME Group first revealed its $4.55 per share offer in July, which… Read More >>
BGC Bid for GFI Challenges CME’s Offer
Interdealer broker BGC Partners wants to acquire rival GFI Group via a direct appeal to shareholders that could undo the CME Group’s two-step bid for GFI Group, announced in July. In addition to intermediary brokerage services, GFI offers trading technology and support services for over-the-counter and listed markets. The businesses for these services are playing… Read More >>
