BGC Group, Inc. (NASDAQ:BGC), a global brokerage and financial technology company, announced today that it has entered into an agreement to acquire OTC Global Holdings, LP, an institutional energy and commodities brokerage firm.
Through this acquisition, BGC Group will further expand and diversify its global Energy, Commodities, and Shipping (ECS) business.
OTC is one of the fastest growing energy and commodities brokerage firms, with global operations across North America, Europe, and Asia. Its brokerage services include crude and refined products, petrochemicals, natural gas, ship brokerage, and biofuels, amongst others. OTC’s product suite and client base are highly complementary to BGC’s existing ECS business and will create a comprehensive platform to serve the global energy and commodities market.
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