BGC Partners, Inc. plans to switch to becoming a Full C-Corporation on Saturday, July 1, 2023.
The company will alter its name to “BGC Group, Inc.” and its Nasdaq brokerage symbol from “BGCP”.
On November 15, 2022, BGC Partners, Inc. along with certain other related businesses, signed an agreement to reorganize their structure. Through this agreement, Partners and Holdings will become one publicly traded company, named BGC Group, Inc. All of the shareholders of BGC and the limited partners of BGC Holdings will share in the business profits of BGC through BGC Group, Inc.
BGC’s Board of Directors unanimously voted to accept the Corporate Conversion Agreement, as proposed by the joint independent Audit Committee and Compensation Committee. During the first quarter of 2023, regulatory authorities in the U.S. and abroad gave initial approvals to the Corporate Conversion. Which is expected to enhance transparency and simplify operations.
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