BGC Partners buys Sunrise Brokers

Details of the transaction were not revealed. In a statement, Shaun Lynn, president at BGC Partners, said: “This transaction enables us to further expand our equity derivatives offering.”

The deal comes a day after SoftBank announced its £24 billion bid for chip-maker ARM Holdings.

Sunrise Brokers, based near Regents Park, was founded in 1991, and is best known for its exotic equity derivatives franchise.

BGC has been expanding, Last year it acquired rival brokerage firm GFI Group for $ 778 million in a hostile takeover. Earlier this year, BGC chairman and CEO Howard Lutnick said the firm had plenty of reserves to “profitably hire” and “make accretive acquisitions”.

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