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Rinse & repeat
Have your dry powder ready Hyundai
IF the next PR doesn't have meat on the bone, he's FOS and the pps will tank. IMO
Sonata,
Ten global investment banks and market making firms join BGC in the creation of FMX to launch premier U.S. Treasury and U.S. Interest Rate Futures trading marketplace
04/25/24 8:00 AM
FMX closes transaction with strategic investors at a $667 million post-money equity valuation
NEW YORK, April 25, 2024 /PRNewswire/ -- BGC Group, Inc. (Nasdaq: BGC) today announced that Bank of America, Barclays, Citadel Securities, Citi, Goldman Sachs, J.P. Morgan, Jump Trading Group, Morgan Stanley, Tower Research Capital, and Wells Fargo have become minority equity owners of FMX, with a post-money equity valuation of $667 million. FMX combines BGC's U.S. cash treasuries platform with its spot foreign exchange platform and U.S. interest rate futures exchange, and will leverage BGC's proven low latency trading infrastructure and global distribution to further support liquidity in the interest rate futures market.
"We have brought together ten of the most important global investment banks and market making firms to create a premier trading venue for the interest rate markets," said Howard W. Lutnick, Chairman and CEO of BGC Group and Chairman of FMX. "We offered ownership to this incredible investment group knowing the enormous value they bring to FMX, which will benefit all market participants."
FMX Futures, which received CFTC approval in January, is expected to launch in September 2024. FMX's cash U.S. Treasury platform, FMX UST (formerly known as Fenics UST), has grown its Central Limit Order Book market share each sequential quarter. FMX UST ended the first quarter 2024 at 28%, up from 26% in the fourth quarter of 2023.1
"With support from these leading financial firms, we believe FMX will become a rapidly growing futures platform and create important efficiencies for our shared clients," said Lou Scotto, CEO of FMX. "With our clearing partner, LCH, the largest clearer of interest rate swaps in the world, clients will receive significant portfolio-margining capabilities, creating competitive advantages across U.S. interest rate markets." 2
"LCH is excited to partner with FMX to deliver product innovation and margin savings, which will enhance the competitiveness of U.S. derivatives markets for its members," said Isabelle Girolami, CEO of LCH Ltd.
"FMX's unique protocols provide a fresh competitive edge across rates, FX, and futures markets," said Geoff Weber, Head of G10 Rates Flow Trading at Citi. "The impressive growth in market share that FMX has experienced recently enhances market liquidity and positions FMX as a potential catalyst for increased competition, particularly within the futures market. This innovation not only promises to elevate market dynamics but also aims to lower costs for all market participants, signaling a forward-looking shift."
"FMX is going to drive innovation and competition across the rates, FX and futures markets," said Kristen Macleod, Head of Americas Macro Distribution and Co-Head of Global FX Distribution at Barclays. "As a key investor, Barclays looks forward to delivering the benefits of our investment to our clients through improved execution and competitive fees."
Sonata....
Weren't you the guy that claimed I was "no brains" from Reddit?
So you think those 2 guys are/were working for the company? 🤡!
Indict him? Welcome to pennyland...where the fluk have u been all these years? 🤣
Indict him.... 🤮
Trade and STFU.
This pps is being manipulated. I'm gonna guess they move it UP a bit higher before the bombs are dumped.
It's not May yet... 🤣
Because your trying to keep track of me 🤡, I loaded up again for the 4th time @ .01 on the anticipation that the Salson deal would get consummated, and once I read the PR stating that they needed extra time, I dumped MOST of my 6m that I had.
No stupid... didn't sell EVERYTHING in 2021. Sold most on the delay.
This was not a scam? It was generating $20m and the trucking business nose dived. Do u realize how many employees this company had? Every week I read that a trucking company has filed for BK. Only hope here is a r/s...clean up this bloated share structure and see if any private wants it.
Don't worry about me. All I've ever posted were words in previous PR's. Sebastian is the guy that misled a lot of folk$, including me.
.02?? Are u stupid? When the stock inched up to .035 and then they announced a delay in September of 21 u think I kept my shares? 🤡
If u think I'm down $200k on a penny stock you're a bigger 🤡 than I think you are Hyundai
Buy-buy-buy
I'm not going anywhere...Waiting for r/s. Never looked forward to a r/s in my life but here.
I don't believe any r/s is coming in 2024
r/s take about 6-7 months AFTER announcement. I'm waiting for 1 myself. I've never looked forward to a r/s more in my life than with TL$$...still waiting.
Nowhere near "the end" 🤡
May...100m 🤣
You can't sell shells unless you do a r/s and clean up the share structure. Ain't happening here. IMO
"Pink current"
Only thing pink current is O.P.P.
Sounds like yours is red raw.
🤣
The question everyone is wondering...does he have a PR with some meat on it to offset the upcoming dumping OR does he put out another lame PR like the last 1. If it has any meat on it, it should offset the selling. If not, .0002--3's may be coming to a theater near u$. 😂
IMO
What are the chances he puts out a PR right before or during PU's upcoming 100m dumpage? 🤣
Exactly what I'm saying....company currently has NOTHING. I was referring more towards a new CEO, so I skipped the CRO piece out. 😂
This company currently has NOTHING. Why are people talking about a new CEO. Who in their right mind would come on board where there is no $$$ to pay their salary? Come'on man!
IF/when the toxicity report is approved by the FDA, funding is then announced in an 8k for clinical trials, clinical trials show treatment is positive, THEN this forum can talk about a new CEO coming on board. Until then, trade it.
IMO
"New floor will be .0005"
Weeeeeeee
Piper Sandler Maintains Overweight on BGC Group, Raises Price Target to $9
04/12/24 8:32 AM
8:32 AM EDT, April 12, 2024 (Benzinga Newswire)
Piper Sandler analyst Patrick Moley maintains BGC Group (NASDAQ:BGC) with a Overweight and raises the price target from $8.5 to $9.
Funding is nearly impossible in pennyland the past 2-3 years.
Who cares where it drops, trade it.
Expecting lots of dumping 😁. Question is, how strong of a PR/news will JK be releasing while PU takes a $hit.
Speaking of rain, 1 of my favorites....