BGC Group To Buy OTC Global For Undisclosed Sum

(RTTNews) - BGC Group, Inc. (BGC), a brokerage and financial technology company, announced on Tuesday that it has inked a deal to acquire OTC Global Holdings, LP, an independent institutional energy and commodities brokerage firm, in a substantially all-cash transaction. Financial terms of the deal are not known.

With this acquisition, the Group aims to further expand and diversify its global Energy, commodities, and shipping or ECS business.

OTC is one of the fastest-growing energy and commodities brokerage firms, with global operations across North America, Europe, and Asia.