Business
BGC Partners Provides Operational and Outlook Update
Discusses Operational Impact of COVID-19 Updates Outlook for First Quarter of 2020 Provides Additional Information with Respect to Its Cash Position and
About this update from Bgc Group, Inc.
[{"type":"text","content":"Discusses Operational Impact of COVID-19\n Updates Outlook for First Quarter of 2020\n Provides Additional Information with Respect to Its Cash Position and Dividend Policy\n\n\nNEW YORK, March 26, 2020 /PRNewswire/ -- BGC Partners, Inc. (NASDAQ: BGCP) (\"BGC Partners\" or \"BGC\" or the \"Company\"), a leading global brokerage and financial technology company, today provided an update on its operations, financial results, and other relevant financial information. \nManagement Comments \nHoward W. Lutnick, Chairman and Chief Executive Officer of BGC said: \"In these unprecedented and difficult times, all of us at BGC Partners wish to express sympathy for all who have been experiencing the pain and stress of this global health and financial crisis.\n\"I have never been more proud of our team, who have come together and worked with extraordinary dedication from remote locations, all while facing enormous uncertainty. Our employees across the firm are focused on serving our clients throughout these most difficult circumstances. It is because of our people that we continue to operate effectively. \n\"Our clients are also operating under incredibly challenging conditions. We are working closer than ever with our clients' employees, traders, salespeople, technology professionals, and operational staff in order to maintain their connectivity to our platforms, and to help them access critical global market liquidity. We will continue to adapt as conditions change.\"\nShaun D. Lynn, President of BGC, added: \"We are inspired by the selfless dedication of the health care workers and first responders during this escalating public health crisis. Their commitment to others, while compromising their own safety, serves as an example for all of us to work together to support one another. As we have in the past, everyone at BGC is doing all that they can to meet the challenges that we all are facing while continuing to serve our clients to the best of our abilities.\n\"We want to thank our management and staff members who have worked tirelessly over these past several weeks in order to maintain BGC's operations. We also want to thank our clients around the world for their support.\" \nUpdated Outlook \nDue to the enormous effort on the part of its employees and clients, BGC believes that it is likely to perform better than it had expected when i...