Cantor Fitzgerald

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Cantor Fitzgerald, LP
Cantor Fitzgerald logo.gif
Founded 1945
Headquarters New York City, USA
Key People Chairman/CEO Howard Lutnick
Employees 3,000+
Products financial services
Website cantor.com

Cantor Fitzgerald L.P. is a financial services firm specializing in bond trading, as well as investment banking, asset management, market data and brokerage services. Cantor operates trading desks in every major financial center in the world, with 41 offices. It is one of 21 primary dealers who are permitted to trade U.S. government securities directly with the Federal Reserve Bank of New York.

It serves more than 5000 institutional clients around the world.

The Cantor Fitzgerald franchise also includes investment banking and real estate private equity. Cantor has also become involved in new marketplaces through CantorCO2e, Cantor Gaming, Cantor Index, Cantor LifeMarkets, Cantor Entertainment, Cantor Real Estate, Cantor Exchange and other ventures.[1]

On August 21, 2012, Cantor Fitzgerald announced a partnership with SunGard to create Cantor Clearing, a service that will provide clearing, settlement and technology solutions for financial services firms utilizing SunGard Solutions. The clearing service will target middle market clients institutional investors and asset managers. The service plnas to become operational in the 4th quarter of 2012, subject to FINRA approval. [2] [3]

History

Cantor Fitzgerald was founded in 1945 by Bernard Gerald Cantor and John Fitzgerald as a limited partnership. It began as a voice brokerage for Wall Street's fixed income inter-dealer community.

The September 11, 2001 World Trade Center terrorist attacks claimed the lives of 658 of the company’s 960 New York-based employees. Since then, Cantor has provided more than $180 million to help the families of the firm’s colleagues. Each September 11th, 100 percent of Cantor’s and BGC Partners' global revenues have been donated to worthy causes to commemorate their employees who perished that day.

In 2004, Cantor spun off its inter-dealer brokerage unit into a separate, publicly-held company, BGC Partners, Inc.

Products and Services

The Cantor Exchange

Cantor Fitzgerald developed the Cantor Futures Exchange (also called the Cantor Exchange) to trade futures on movie box office receipts, but abandoned the project after it had received CFTC approval because of an expected government ban on such trading.[4] The leader of that project was Richard Jaycobs, CEO of Cithaeron Partners, a division of Cantor Fitzgerald.

Since 2001, Cantor has owned the Hollywood Stock Exchange, an online fantasy market that allows users to simulate an investment in movies, actors and studios. Trading is limited to "Hollywood dollars" that have no value. [5] On November 25, 2008, Cantor applied to the CFTC for designation of the Cantor Futures Exchange (the Cantor Exchange) as a designated contract market. [6]

The Cantor Exchange plans to launch DBOR Movie Futures, taking the former Hollywood Stock Exchange from a virtual exchange to a real-money exchange. [7]

Cantor Fitzgerald won approval from the Commodity Futures Trading Commission on April 21, 2010 to launch the Cantor Exchange as a contract market for the trading of box office futures; however the CFTC is still deciding whether to approve the contracts themselves for trading.[8]

Debt Capital Markets

Equity Capital Markets

Investment Banking

Asset Management

Cantor Clearing Services (CCS)

CantorCO2e

(Environmental and alternative energy markets worldwide; headquartered in London and San Francisco) [9]

  • Integrated services - transaction, financing, technology and consultancy to bring environmental commodities to market and to help clients across the world manage the financial aspects of energy and environmental choices.
  • Facilitate transactions via electronic trading screens, telephone lines, auctions and negotiated contracts.
  • Broker emissions, and “new’ energy, such as renewable energy, ethanol and biodiesel.
  • Advise equity investment funds on carbon finance, introduce investors to projects and structure forward sales to help project developers fund investments.
  • Assist "clean-tech" technology developers to manage intellectual property, develop licensing strategies and roll out new technologies.

Cantor LifeMarkets

Founded in 2004, Cantor LifeMarkets involves development of new and innovative methods that bridge the financial and life insurance industries. LexNet, built and operated by Cantor LifeMarkets, is an online marketplace dedicated to trading of life insurance policies, also known as life settlements. The first of its kind, LexNet’s auction model provides transaction privacy protection and full transparency of bids, offers, commissions, fees and documentation. Systems are capable of handling large volumes of trades and are hosted in a secure environment.[10]

Key People

Howard-lutnick-(van 832896b.jpg Howard Lutnick Chairman and CEO
Dashonly.gif Philip Marber CEO/President
Dashonly.gif Thomas Anzalone EVP/Director, Global Operations
Dashonly.gif Stuart Fraser Vice Chairman
Dashonly.gif Douglas R. Barnard CFO


References

  1. About Us. Cantor Fitzgerald.
  2. Cantor Fitzgerald to Launch Cantor Clearing. Yahoo Finance.
  3. Cantor Fitzgerald to Expand Clearing Services in Fourth Quarter. WSJ.com.
  4. Cantor Fitzgerald abandons plan to trade box-office futures contracts. Los Angeles Times.
  5. Product Profile: Movie Futures. Futures Industry Magazine.
  6. Cantor Desginated Contract Market Letter. Commodity Futures Trading Commision.
  7. Hollywood Stock Exchange is Becoming a Real Money Exchange In April. Seriously.. Washington Post.
  8. CFTC OKs Cantor market but mulls film contract. Reuters.
  9. CantorCO2e. Cantor Fitzgerald.
  10. Cantor LifeMarkets. www.cantor.com.

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