Howard Lutnick sends some of Wall Street's biggest players to futures trading and interest rate derivatives giant CME Group Inc. for a new challenge.
Cantor Fitzgerald's chief executive has received support from Bank of America Corp., Barclays Plc, Citadel Securities, Citigroup Inc., Goldman Sachs Group Inc., JPMorgan Chase & Co. and Jump Trading as he prepares to launch his new futures exchange. The companies invested $172 million for a 25.75% stake in FMX, which increases with use of the platform. The company is part of BGC Group Inc., a brokerage firm spun off from Cantor Fitzgerald in 2004 and led by Lutnick.
Comments are closed.