BGC Partners Acquires ETC Pollak

Paris/London, 3 October 2005 – BGC Partners, L.P., a leading inter-dealer brokerage firm providing integrated voice and electronic services to wholesale fixed income, interest rate, foreign exchange and derivatives markets worldwide, announced today the completion of its acquisition of ETC Pollak, a major French inter-dealer broker based in Paris.

ETC Pollak, which has 140 staff, will continue to operate under its well-established name. BGC believes that investing in a strong domestic brokerage business is the best strategy for success in France.

The acquisition of ETC Pollak marks another important step in BGC’s fast-moving global expansion. Following its spin off from Cantor Fitzgerald a year ago, BGC has acquired Euro Brokers, an international inter-dealer broker specialising in money market, derivative and other securities products (as part of the acquisition in May of its parent, Maxcor Financial Group Inc.), has opened an office in Singapore and expanded in Hong Kong and Sydney.

With its headquarters in London, substantial presence in New York and well-established offices in Nyon and Milan, BGC has more than trebled its staff to 1,600 through a combination of organic growth and acquisitions since October 2004. Further expansion in Europe, particularly in Germany and Luxembourg, as well as in Asia and certain Emerging Markets, is being actively considered.

BGC acquired 100% of ETC Pollak from IT service company CMS, formerly 3S Informatique (41.38%), E Finance, the entity holding the interests of ETC management (53.70%), and French investment firm Alter Finance (4.92%).

“We are impressed with ETC Pollak’s team and the successful relationships its brokers have developed in the French market, two qualities that are crucial to the business of voice brokerage,” said Shaun Lynn, President of BGC. “We are delighted to welcome ETC Pollak to our growing global enterprise.”

“The strength of ETC’s long and well-established local franchise gives us immediate presence in France,” said Jean-Pierre Aubin, BGC’s President for Continental Europe. “The businesses of ETC Pollak are highly complementary. We share the same strong commitment to providing clients with the best execution and service possible. I am delighted to work again with Gilles Aupin, ETC Pollak Chairman and CEO, who will head our French operations.”

“Aligning ETC Pollak with BGC Partners will help us acquire both an international dimension and a stronger balance sheet,” said Gilles Aupin, ETC Pollak Chairman and CEO. “We are very excited to participate in BGC’s ambitious growth plans. Access to BGC’s large international client base as well as access to its pool of liquidity provides a tremendous opportunity for our operations.”

About BGC Partners, L.P.
BGC Partners is a leading inter-dealer broker, providing integrated voice and electronic services for wholesale market participants worldwide. BGC is active in the global fixed income, interest rate, foreign exchange and derivative markets, offering both telephone and screen-based price discovery, trade execution, straight -through processing and access to electronic trading services from eSpeed Inc. (Nasdaq: ESPD). The firm, named after fixed income trading innovator B. Gerald Cantor, has offices in London, New York, Tokyo, Hong Kong, Singapore, Nyon and Milan. To learn more, please visit

About ETC Pollak
ETC POLLAK is a major player in the European financial marketplace. A leading French intermediary involved in the money markets since 1924, ETC POLLAK has continued to expand its businesses on regulated exchanges. The Group is not only a reference for historical over-thecounter business, but also a specialist on futures, derivatives, bonds and equities. ETC’s operational teams endeavour to propose to its customers a global offer based on expertise and liquidity. Each business unit works closely with the firm’s research department to provide clients with instant ideas and information on a range of products. For more information, see

French media:
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Fabrice Baron + 33 1 5332 6127

Other media:
BGC Partners, London
Timo Kindred
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