Cantor Fitzgerald

Infobox Company
company_name = Cantor Fitzgerald, L.P.
company_
company_type = Private
foundation = 1945
location = New York, New York
key_people = Howard W. Lutnick,
Chairman & CEO
industry = Investment Services
products = Financial Services
Investment Banking
Environmental Brokerage

homepage = http://www.cantor.com/

Cantor Fitzgerald L.P. is a global financial services firm specializing in bond trading, as well as investment banking, asset management, market data and brokerage services. It was founded in 1945 by Bernard Gerald Cantor and John Fitzgerald as a limited partnership and remains so today. Cantor Fitzgerald is one of 21 primary dealers who are permitted to trade U.S. government securities directly with the Federal Reserve Bank of New York.Fact|date=July 2008

Subsidiaries, departments, and services

BGC Partners

On October 1, 2004, it spun off its inter-dealer voice brokerage business into a separate partnership, BGC Partners (named after Bernard Gerald Cantor), in order to refocus their business on institutional sales and trading. [http://www.marketwatch.com/news/story/bgc-partners-files-raise-up/story.aspx?guid=%7BE729E7CC-A373-4D6B-9156-53F4428110AE%7D&dist=dist=rss&siteid=mktw BGC filed for an IPO] on February 8, 2007. BGC no longer plans on listing as a separate stock as it merged with eSpeed.

eSpeed

The firm created its subsidiary eSpeed, an electronic trading network, and brought it public in 1999. eSpeed is a marketplace technology provider for the financial capital markets of the world, and has offices in North America, Europe, and Asia. Thousands of traders at hundreds of global financial institutions conduct transactions worth over $45 trillion annually in eSpeed's multiple buyer/multiple seller markets. eSpeed is listed on the Nasdaq under the ticker symbol "ESPD."

CantorCO2e Environmental Brokerage

CantorCO2e a subsidiary of Cantor, is the world's longest standing environmental brokerage created to serve companies in a carbon constrained economy. CantorCO2e are brokers of carbon dioxide (CO2) emissions allowances and reduction credits under the Kyoto Protocol and EU Emission Trading Scheme legislation. CantorCO2e is also active domestically in the US in markets concerned with NOx, SOx, VOC, PM10, CO, and Global warming issues and brokerage services related to greenhouse gases, renewable energy, and emissions offsets, and other environmental products. http://www.cantorco2e.com/

Cantor Entertainment Business Group

On June 11, 2007 Cantor Fitzgerald, L.P. announced the creation of Cantor Entertainment and the appointment of Andrew L. Wing as its President and Chief Executive Officer. Mr. Wing, who is based in the firm’s Los Angeles office, will drive Cantor’s growth and expansion in developing information, marketing, advisory and financial services for the entertainment industry. Currently, Cantor’s core business in the sector is the Hollywood Stock Exchange (“HSX”), the leading virtual market and predictive service for the entertainment industry. [ [http://www.cantor.com/press_releases/06_11_2007_Cantor_Fitzgerald_Establishes_Entertainment_Business_Group_.html Cantor.com - Cantor Fitzgerald Establishes Entertainment Business Group - Cantor Fitzgerald ] ]

Cantor Fitzgerald Telecom Services, LLC

Cantor Fitzgerald Telecom Services, LLC is a limited liability company that provides secure telecommunications services (both wireline and wireless) for financial and entertainment marketplaces that supports the global trading infrastructure for Cantor Fitzgerald and its subsidiaries and clients.

Cantor Market Data

Cantor Market Data provides real-time, end-of-day, and historical fixed income and derivative pricing data. Cantor first pioneered live pricing data for fixed income markets 30 years ago, and now provides data priced from over $265 billion in daily fixed income transactions.

Cantor Equity Research

Cantor U.S. Equity Research provides institutional equity research across a number of sectors. The research product is fundamental, bottom up analysis that focuses on small and mid-cap companies.

Cantor Fitzgerald Spectrum & Tower Exchange & Marketplace

Cantor Fitzgerald Spectrum & Tower Exchange & Marketplace is a Web-based service that deals with offering, finding, pricing and executing transfer of wireless spectrum rights, tower assets, and tower/rooftop space.

Cantor Gaming

Cantor Gaming deals with mobile gaming and was instrumental in lobbying the Nevada state government for the passage of mobile gaming legislation. The firm and several of its executives were granted the first-ever license to manufacturer, distribute, and operate mobile gaming systems by the Nevada Gaming Commission.

Cantor Index Ltd

Cantor Index Ltd provides financial spread betting services.

eptember 11, 2001 attacks

Cantor Fitzgerald's New York City office, on the 101st-105th floors of One World Trade Center (2-6 floors above the impact zone of a hijacked airliner), was destroyed during the September 11, 2001 attacks. Cantor Fitzgerald lost 658 employees (all of the employees in the office that day), or about two-thirds of its workforce, considerably more than any other of the World Trade Center tenants or the New York City Police Department and New York City Fire Department. The company was able to bring its trading markets back online within a week, and CEO and chairman Howard Lutnick, whose brother was among those killed, vowed to keep the company alive.

On September 19, Cantor Fitzgerald made a pledge to distribute 25 percent of the firm's profits for the next five years, and committed to paying for ten years of health care, for the benefit of the families of its 658 former Cantor Fitzgerald, eSpeed, and TradeSpark employees (profits which would otherwise have been distributed to the Cantor Fitzgerald partners).Fact|date=July 2008 In 2006 the company completed its promise, having paid a total of $180 million (and an additional $17 million from a relief fund run by Lutnick's sister, Edie).Fact|date=July 2008

Before the attacks, Cantor handled about one-quarter of the daily transactions in the multi-trillion dollar treasury security market. Cantor has since rebuilt its infrastructure and now has its headquarters in midtown Manhattan. The company's effort to regain its footing is the subject of Tom Barbash's 2003 book "On Top of the World: Cantor Fitzgerald, Howard Lutnick, and 9/11: A Story of Loss and Renewal".

On September 2, 2004, Cantor filed a civil lawsuit against the Kingdom of Saudi Arabia, one of a number of organizations to do so. [ [http://news.bbc.co.uk/2/hi/americas/3646548.stm WTC agency sues Saudis over 9/11] , BBC News Online, 11th September 2004] It was later joined in the suit by the Port Authority of New York. [ [http://www.law.com/jsp/article.jsp?id=1094073283938 Port Authority to Join Suit Against Saudi Arabia Over 9/11 Attack] , Associated Press, 13th September 2004]

References

External links

* [http://www.cantor.com/ Official Cantor Fitzgerald web site]
* [http://www.bgcpartners.com/ Official BGC Partners web site]
* [http://www.espeed.com/ Official eSpeed web site]
* [http://www.cantordirect.com/ Official Cantor Market Data web site]
* [http://findarticles.com/p/articles/mi_m1589/is_n735/ai_20164883 Work can really be hell - discrimination against gays] The Advocate, June 10, 1997 by Harriet Schwartz
* [http://www.findarticles.com/p/articles/mi_m5072/is_n19_v19/ai_19558425 Lawsuit spurs debate on brokers' behavior - Cantor Fitzgerald L.P] Los Angeles Business Journal, May 12, 1997 by Benjamin Mark Cole
* [http://www.thestreet.com/comment/easymoney/29867.html Ellen Comes Out on Television; It'd Be a Tougher Trick on Wall Street] TheStreet.com, April 30, 1997, By Cory Johnson
* [http://www.cantorfamilies.com/cantor/jsp/index.jsp Cantor Families Memorial]
* [http://cantorrelief.org/ Cantor Relief Fund]
*
* [http://www.amazon.com/dp/0060510293 On Top of the World: Cantor Fitzgerald, Howard Lutnick, and 9/11: A Story of Loss and Renewal]
* [http://www.nytimes.com/2002/09/17/nyregion/17FUND.html Worst-Hit Firm Faults Fairness of Sept. 11 Aid] , "The New York Times", September 17, 2002