eSpeed, Inc. the frontrunner in the field of electronic marketplaces and related trading technology for the global capital markets along with BGC Partners, one of the largest and fastest growing inter-dealer brokers of financial instruments for wholesale market participants in the present international arena  today announced here that there shall be the merge of the two. It has also been stated, that the combined company will be named “BGC Partners, Inc.”

eSpeed, Inc. from its inception in the December of 1999, has been performing as a  definitive marketplace technology provider for the financial capital markets of the world. The company by now is regarded as a frontrunner organization in developing and deploying electronic marketplaces and related trading technology that offers traders access to the most liquid, efficient and neutral financial markets in the world. The chief function of the company lies in operating in multiple buyer, multiple seller real-time electronic marketplaces for the global capital markets that includes the world's largest government bond markets and other fixed income and foreign exchange marketplaces.

It has been emphasized in this regard that the collective company will be a world-class provider of voice and electronic brokerage services in the comprehensive marketplace, and will be positioned towards the sound achievement of significant growth and also to maximize the core
value for its stockholders. It shall also benefit from a streamlined product development pipeline, larger capital base, enhanced ability to attract and retain brokers, complementary cultures and values, and a management team of exceptional depth and breadth, all providing a stronger, integrated platform for continued growth. In addition, there is a strong expectation that the unified entity shall excel while delivering substantial, structural and operating synergies so as to carry on with reductions on expense and revenue enhancements.

While speaking on this historic occasion Howard W. Lutnick, the Chairman, Chief Executive Officer and President of eSpeed, said, “We are extremely proud of each of these two companies and their strong positions in the marketplace. eSpeed is the technology driver of BGC’s voice and electronic broking business, and BGC’s performance drives eSpeed’s growth. The integration of BGC’s superior customer service, execution, and innovation with eSpeed’s powerful technology platform represents an ideal strategic fit. By combining these considerable strengths, we will achieve improved operating efficiencies and strengthen our market position, serving the best long-term interests of eSpeed’s stockholders, both companies’ customers and BGC’s employee-owners.”