Cantor Fitzgerald’s announcement in late 2004 that it was going to spin off and then significantly expand its voice broking operations caused some surprise in the market. The new venture, called BGC Partners in honour of Bernie Cantor, founder of the company that still bears his name, made it clear that it intended to expand significantly and that voice broking would play a major role in its operations.
This in itself was easily explained. Despite continuing reports of their demise, human brokers have yet to be replaced fully by computers in many markets.
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