BGC Posts Record Q2 Revenue of $845.5M, FMX UST Market Share Reaches 42%, and Books $24.5M U.K. Tax Charge
BGC sits 25% above its 52-week low of $8.265.
Summary
BGC posted record Q2 2026 revenue of $845.5M (+7.8% YoY) with FMX UST market share reaching 42%, while recording a $24.5M charge for a U.K. tax dispute and completing the sale of two entities to Fanatics.
Key Events · Earnings and Guidance · BGC
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Record Q2 Revenue
Total revenue reached $845.5 million, up 7.8% year-over-year, with growth across all asset classes. Fenics electronic revenues rose 14.3% to $186.2 million.
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FMX Market Share Gains
FMX UST central limit order book market share hit a record 42%, up from 35% a year ago. FMX Futures Exchange ADV surged to ~54,000 contracts from ~3,000 a year earlier.
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U.K. Tax Matter Accrual
The company recorded an additional $24.5 million accrual for a U.K. tax dispute, bringing the total liability to $40.6 million. The matter relates to the tax treatment of partnership members and could result in further charges.
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Fanatics Divestiture Completed
On August 5, 2026, BGC completed the sale of Water Street Labs, LLC and CX Clearinghouse L.P. to Fanatics, enabling Fanatics to offer a federally regulated prediction market exchange.
Analysis · BGC · Crypto Assets
Quarterly revenue hit a record $845.5 million, a 7.8% year-over-year increase, fueled by broad-based growth across all asset classes and a 14.3% surge in Fenics electronic revenues. FMX UST captured 42% of the central limit order book market, while FMX Futures Exchange ADV soared to roughly 54,000 contracts. Offsetting these gains, a $24.5 million accrual for a U.K. tax matter drove other expenses sharply higher, and the company completed the sale of its Water Street Labs and CX Clearinghouse to Fanatics. The results highlight BGC's accelerating electronification and market share momentum, though the tax liability introduces a material legal overhang.
At the time of this filing, BGC was trading at $10.29 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $4.9B. The 52-week trading range was $8.27 to $12.89. This filing was assessed with neutral market sentiment and an importance score of 8 out of 10.