BGC Group (BGC) in O'Keefe Stevens 2024 Q3

FMX Futures Exchange Launch and Interest Rate Dynamics

Apr 14, 2025

Summary

Launch of FMX Futures Exchange marks a significant milestone.
Anticipated market share gains from compelling offerings.
Interest rate cuts expected to drive record volumes.
Stock remains under the radar with limited analyst coverage.

In O'Keefe Stevens 2024 Q3, BGC Group (BGC, Financial) was highlighted for the successful launch of the FMX Futures Exchange, a development that marks a significant milestone for the company. The exchange is expected to gradually gain market share, reversing years of expenses without offsetting revenue. Additionally, the fund noted that BGC's stock continues to trade under the radar, with only one sell-side analyst covering the name.

"Uncertainty is BGC’s best friend. Entering 2024, rate cut expectations of 150bps reflected optimism around the aggressive and dramatic decline of rates." — O'Keefe Stevens, Q3 2024 Fund Letter

Read full letter at gurufocus O'Keefe Stevens 2024 Q3 page.

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