Global brokerage company BGC Partners has reported its financial results for the quarter ended September 30, 2014. Quarterly post-tax distributable earnings increased by more than 80 percent year-over- year to $56m, which was a record for the company, says chairman and chief executive officer Howard W Lutnick. This reflected pre-tax distributable earnings growth of 54 percent for its real estate services business and 74 percent for its high margin fully electronic businesses.
With the first wave of TARGET2-Securities (T2S) migration less than 12 months away, an ISS virtual roundtable discussed some of the key issues relating to the pan-European platform for securities settlement.
ISS invited Marco Strimer (head operations at Notenstein Privatbank), Hugh Palmer (head of T2S at Société Générale SS), Adriana Tanasoiu (CEO Depozitarul Central) and Eugene Meintjes (executive director group network management, EMEA strategy at UBS) to consider various factors around T2S.