Volatility Boosts BGC FX Revenues

In what is likely to be a regular feature of the quarterly reporting season, given the early quarter volatility in markets, BGC Partners has unveiled record revenues and a new high for activity on its FMX platforms, including FX.

Revenues in Q2 were $784 million, a 42.3% increase versus the same period in 2024, within this the Fenics businesses increased income by 18.6% to $162.9 million. FX revenues at the firm rose 21.9% to $108.5 million, drive, BGC says, by strength in emerging markets and FX options. FMX FX, the e-trading platform owned by BGC, saw average daily volume nearly double to $15.6 billion, thanks, the firm says, to support from its equity partners in the business, as well as new products and participants.

Fenics Growth Platforms, the business unit that includes FMX, PortfolioMatch and Lucera, reports revenues of $28.7 million, up 29.6% year-on-year. Within this, BGC says Lucera volumes were up more than 40%. Fenics Markets revenues were $134.1 million, up 16.5%.

April in particular provided a boost to many trading venues in financial markets, in FX terms, volume was up an approximate 20% year-on-year, suggesting that there was good organic growth for BGC in addition to this more widespread boost.