BGC (BGC) 10-Q 8 Aug 24 2024 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2024	Aug. 07, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	001-35591
Entity Registrant Name	BGC Group, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	86-3748217
Entity Address, Address Line One	499 Park Avenue
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10022
City Area Code	212
Local Phone Number	610-2200
Title of 12(b) Security	Class A Common Stock, $0.01 par value
Trading Symbol	BGC
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001094831
Current Fiscal Year End Date	--12-31
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		377,150,506
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		109,452,953

Condensed Consolidated Statemen

Condensed Consolidated Statements of Financial Condition - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Assets
Cash and cash equivalents	$ 571,659	$ 655,641
Cash segregated under regulatory requirements	14,486	17,255
Financial instruments owned, at fair value	193,988	45,792
Receivables from broker-dealers, clearing organizations, customers and related broker-dealers	1,062,588	350,036
Accrued commissions and other receivables, net	358,657	305,793
Loans, forgivable loans and other receivables from employees and partners, net	394,527	367,805
Loan receivable from related parties	180,000	0
Fixed assets, net	182,887	178,300
Investments	40,954	38,314
Goodwill	505,426	506,344
Other intangible assets, net	201,823	211,285
Receivables from related parties	1,557	2,717
Other assets	550,643	496,655
Total assets	4,259,195	3,175,937
Liabilities, Redeemable Partnership Interest, and Equity
Repurchase agreements	6,581	0
Accrued compensation	194,020	206,364
Payables to broker-dealers, clearing organizations, customers and related broker-dealers	880,404	202,266
Payables to related parties	38,242	17,456
Accounts payable, accrued and other liabilities	657,389	668,189
Notes payable and other borrowings	1,440,689	1,183,506
Total liabilities	3,217,325	2,277,781
Commitments, contingencies and guarantees (Note 19)
Stockholders’ equity:
Additional paid-in capital	2,166,717	2,105,130
Treasury stock, at cost: 35,787,224 and 13,479,847 shares of Class A common stock at June 30, 2024 and December 31, 2023, respectively	(217,097)	(67,414)
Retained deficit	(1,046,827)	(1,119,182)
Accumulated other comprehensive income (loss)	(49,908)	(38,582)
Total stockholders’ equity	858,133	885,083
Noncontrolling interest in subsidiaries	183,737	13,073
Total equity	1,041,870	898,156
Total liabilities, redeemable partnership interest, and equity	4,259,195	3,175,937
Class A Common Stock
Stockholders’ equity:
Common stock value	4,153	4,036
Class B Common Stock
Stockholders’ equity:
Common stock value	$ 1,095	$ 1,095

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Financial Condition (Parenthetical) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
Class A Common Stock
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	1,500,000,000	1,500,000,000
Common stock, shares issued (in shares)	415,375,478	403,574,835
Common stock, shares outstanding (in shares)	379,588,254	390,094,988
Treasury stock (in shares)	35,787,224	13,479,847
Class B Common Stock
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	300,000,000	300,000,000
Common stock, shares issued (in shares)	109,452,953	109,452,953
Common stock, shares outstanding (in shares)	109,452,953	109,452,953

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenues:
Commissions	$ 395,081	$ 348,720	$ 810,253	$ 726,008
Principal transactions	98,439	94,883	211,288	209,812
Fees from related parties	4,643	4,062	9,064	8,019
Data, network and post-trade	30,812	27,000	61,715	54,122
Interest and dividend income	17,145	13,371	26,909	18,686
Other revenues	4,641	5,044	10,146	9,300
Total revenues	550,761	493,080	1,129,375	1,025,947
Expenses:
Compensation and employee benefits	271,990	243,387	562,832	510,601
Equity-based compensation and allocations of net income to limited partnership units and FPUs	66,207	126,644	162,288	208,017
Total compensation and employee benefits	338,197	370,031	725,120	718,618
Occupancy and equipment	40,959	40,488	81,765	81,653
Fees to related parties	8,009	7,991	15,224	16,431
Professional and consulting fees	12,805	14,819	27,064	30,520
Communications	30,172	27,813	60,180	55,752
Selling and promotion	17,714	15,320	34,485	29,936
Commissions and floor brokerage	17,414	16,161	34,806	31,426
Interest expense	21,551	19,914	41,687	35,656
Other expenses	13,334	13,221	27,892	25,729
Total expenses	500,155	525,758	1,048,223	1,025,721
Other income (losses), net:
Gains (losses) on equity method investments	2,744	2,412	4,534	4,474
Other income (loss)	1,814	(1,011)	40,576	(2,746)
Total other income (losses), net	4,558	1,401	45,110	1,728
Income (loss) from operations before income taxes	55,164	(31,277)	126,262	1,954
Provision (benefit) for income taxes	17,989	(9,067)	40,046	2,994
Consolidated net income (loss)	37,175	(22,210)	86,216	(1,040)
Less: Net income (loss) attributable to noncontrolling interest in subsidiaries	(653)	(2,506)	(822)	(314)
Net income (loss) available to common stockholders	37,828	(19,704)	87,038	(726)
Basic earnings (loss) per share
Net income (loss) attributable to common stockholders	$ 36,054	$ (19,704)	$ 82,502	$ (726)
Basic earnings (loss) per share (in dollars per share)	$ 0.08	$ (0.05)	$ 0.17	$ 0
Basic weighted-average shares of common stock outstanding (in shares)	475,272	391,745	472,895	383,528
Fully diluted earnings (loss) per share
Net income (loss) for fully diluted shares	$ 36,070	$ (19,704)	$ 82,553	$ (726)
Fully diluted earnings (loss) per share (in dollars per share)	$ 0.08	$ (0.05)	$ 0.17	$ 0
Fully diluted weighted-average shares of common stock outstanding (in shares)	480,861	391,745	479,417	383,528

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Consolidated net income (loss)	$ 37,175	$ (22,210)	$ 86,216	$ (1,040)
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	(6,678)	2,715	(11,507)	4,983
Comprehensive income (loss)	30,497	(19,495)	74,709	3,943
Less: Comprehensive income (loss) attributable to noncontrolling interest in subsidiaries, net of tax	(693)	(2,185)	(1,003)	366
Comprehensive income (loss) attributable to common stockholders	$ 31,190	$ (17,310)	$ 75,712	$ 3,577

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Consolidated net income (loss)	$ 86,216	$ (1,040)
Adjustments to reconcile consolidated net income (loss) to net cash provided by (used in) operating activities:
Fixed asset depreciation and intangible asset amortization	40,850	38,253
Employee loan amortization and reserves on employee loans	29,323	25,467
Equity-based compensation and allocations of net income to limited partnership units and FPUs	162,288	208,017
Deferred compensation expense	27	20
Losses (gains) on equity method investments	(4,534)	(4,474)
Unrealized/realized losses (gains) on financial instruments owned, at fair value and other investments	(37,069)	1,386
Amortization of discount (premium) on notes payable	(496)	1,904
Impairment of fixed assets, intangible assets and investments	278	2,767
Deferred tax provision (benefit)	(4,667)	(5,534)
Change in estimated acquisition earn-out payables	(255)	613
Forfeitures of Class A common stock	(852)	(796)
Consolidated net income (loss), adjusted for non-cash and non-operating items	271,109	266,583
Decrease (increase) in operating assets:
Reverse repurchase agreements	0	(200,000)
Financial instruments owned, at fair value	(149,998)	(199)
Receivables from broker-dealers, clearing organizations, customers and related broker-dealers	(715,817)	(700,609)
Accrued commissions receivable, net	(53,947)	(26,077)
Loans, forgivable loans and other receivables from employees and partners, net	(42,540)	(23,681)
Receivables from related parties	1,412	(7,591)
Other assets	(3,905)	(1,893)
Increase (decrease) in operating liabilities:
Repurchase agreements	6,581	0
Accrued compensation	(14,297)	(4,731)
Payables to broker-dealers, clearing organizations, customers and related broker-dealers	678,263	660,692
Payables to related parties	20,786	(3,949)
Accounts payable, accrued and other liabilities	(22,505)	(39,741)
Net cash provided by (used in) operating activities	(24,858)	(81,196)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of fixed assets	(13,752)	(7,081)
Capitalization of software development costs	(20,414)	(24,470)
Proceeds from equity method investments	1,815	3,021
Acquisition of Futures Exchange Group	0	(26,502)
Purchase of investment carried under measurement alternative	(3,699)	0
Loan to related parties	(180,000)	0
Purchase of other assets	(387)	(240)
Net cash provided by (used in) investing activities	(216,437)	(55,272)
CASH FLOWS FROM FINANCING ACTIVITIES:
Issuance of long-term debt borrowings, net of deferred issuance costs	769,989	516,579
Repayments of long-term debt borrowings	(515,000)	(173,251)
Issuance of short-term borrowings from related parties	275,000	0
Repayment of short-term borrowings from related parties	(275,000)	0
Earnings distributions to limited partnership interests and other noncontrolling interests	(7,805)	(13,818)
Redemption and repurchase of equity awards	(69,418)	(101,496)
Dividends to stockholders	(14,683)	(7,558)
Repurchase of Class A common stock	(148,117)	(46,481)
Proceeds from sale of Cantor Units in BGC Holdings	0	11,539
Short term borrowings, net of repayments	0	(1,917)
Pre-acquisition cash capital contribution to Futures Exchange Group	0	(18,703)
Proceeds from non-controlling interests	171,667	0
Payments on acquisition earn-outs	(1,000)	0
Other	(26,667)	0
Net cash provided by (used in) financing activities	158,966	164,894
Effect of exchange rate changes on Cash and cash equivalents and Cash segregated under regulatory requirements	(4,422)	12,171
Net increase (decrease) in Cash and cash equivalents, and Cash segregated under regulatory requirements	(86,751)	40,597
Cash and cash equivalents and Cash segregated under regulatory requirements at beginning of period	672,896	502,010
Cash and cash equivalents and Cash segregated under regulatory requirements at end of period	586,145	542,607
Supplemental cash information:
Cash paid during the period for taxes	59,224	32,878
Cash paid during the period for interest	38,656	30,812
Supplemental non-cash information:
Issuance of Class A common stock upon exchange of limited partnership interests	0	45,868
Issuance of Class A common stock upon exchange of contingent share obligations	0	0
Issuance of Class A and contingent Class A common stock and limited partnership interests for acquisitions	3,163	2,761
ROU assets and liabilities	$ 11,407	$ 2,495

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Changes in Equity - USD ($) $ in Thousands	Total	Common Stock Class A Common Stock	Common Stock Class B Common Stock	Additional Paid-in Capital	Treasury Stock	Retained Deficit	Accumulated Other Comprehensive Income (Loss)	Noncontrolling Interest in Subsidiaries
Beginning balance at Dec. 31, 2022	$ 733,208	$ 4,719	$ 459	$ 2,559,418	$ (711,454)	$ (1,138,066)	$ (45,431)	$ 63,563
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Consolidated net income (loss)	(1,040)					(726)		(314)
Other comprehensive income (loss), net of tax	4,983						4,303	680
Equity-based compensation	7,533	23		5,741	3			1,766
Dividends to common stockholders and participating RSU holders	(7,558)					(7,558)
Earnings distributions to limited partnership interests and other noncontrolling interests	(12,294)							(12,294)
Grant of exchangeability and redemption of limited partnership interests	113,201	291		86,505				26,405
Issuance of common stock	357	2		341				14
Redemption of FPUs	(547)							(547)
Repurchase of Class A common stock	(47,802)				(41,111)			(6,691)
Forfeiture of Class A common stock	(796)			84	(769)			(111)
Contributions of capital to and from Cantor for equity-based compensation	506			390				116
Issuance of Class A common stock and RSUs for acquisitions	2,761	51		2,333				377
Contributions from FMX Equity Partners	11,539							11,539
Corporate Conversion	15,084			12,988				2,096
Other	12			12
Ending balance at Jun. 30, 2023	819,147	5,086	459	2,667,812	(753,331)	(1,146,350)	(41,128)	86,599
Beginning balance at Mar. 31, 2023	801,018	4,878	459	2,604,259	(715,081)	(1,122,827)	(43,522)	72,852
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Consolidated net income (loss)	(22,210)					(19,704)		(2,506)
Other comprehensive income (loss), net of tax	2,715						2,394	321
Equity-based compensation	473	2		367	3			101
Dividends to common stockholders and participating RSU holders	(3,819)					(3,819)
Earnings distributions to limited partnership interests and other noncontrolling interests	(5,841)							(5,841)
Grant of exchangeability and redemption of limited partnership interests	64,652	160		49,811				14,681
Issuance of common stock	161	2		155				4
Redemption of FPUs	(481)							(481)
Repurchase of Class A common stock	(43,594)				(37,536)			(6,058)
Forfeiture of Class A common stock	(747)			74	(717)			(104)
Contributions of capital to and from Cantor for equity-based compensation	151			119				32
Issuance of Class A common stock and RSUs for acquisitions	0	44		(7)				(37)
Contributions from FMX Equity Partners	11,539							11,539
Corporate Conversion	15,084			12,988				2,096
Other	46			46
Ending balance at Jun. 30, 2023	819,147	5,086	459	2,667,812	(753,331)	(1,146,350)	(41,128)	86,599
Beginning balance at Dec. 31, 2023	898,156	4,036	1,095	2,105,130	(67,414)	(1,119,182)	(38,582)	13,073
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Consolidated net income (loss)	86,216					87,038		(822)
Other comprehensive income (loss), net of tax	(11,507)						(11,326)	(181)
Equity-based compensation	85,549	111		85,461	(23)
Dividends to common stockholders and participating RSU holders	(14,683)					(14,683)
Issuance of common stock	(1,143)	1		(1,144)
Repurchase of Class A common stock	(148,090)				(148,090)
Forfeiture of Class A common stock	(852)			718	(1,570)
Contributions of capital to and from Cantor for equity-based compensation	118			118
Issuance of Class A common stock and RSUs for acquisitions	3,163	5		3,158
Contributions from FMX Equity Partners	171,667							171,667
Other	(26,724)			(26,724)
Ending balance at Jun. 30, 2024	1,041,870	4,153	1,095	2,166,717	(217,097)	(1,046,827)	(49,908)	183,737
Beginning balance at Mar. 31, 2024	924,871	4,103	1,095	2,162,454	(137,455)	(1,074,819)	(43,270)	12,763
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Consolidated net income (loss)	37,175					37,828		(653)
Other comprehensive income (loss), net of tax	(6,678)						(6,638)	(40)
Equity-based compensation	31,972	49		31,934	(11)
Dividends to common stockholders and participating RSU holders	(9,836)					(9,836)
Issuance of common stock	(844)	1		(845)
Repurchase of Class A common stock	(79,481)				(79,481)
Forfeiture of Class A common stock	(67)			83	(150)
Contributions of capital to and from Cantor for equity-based compensation	(183)			(183)
Contributions from FMX Equity Partners	171,667							171,667
Other	(26,726)			(26,726)
Ending balance at Jun. 30, 2024	$ 1,041,870	$ 4,153	$ 1,095	$ 2,166,717	$ (217,097)	$ (1,046,827)	$ (49,908)	$ 183,737

Condensed Consolidated Statem_7

Condensed Consolidated Statements of Changes in Equity (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Grant of exchangeability and redemption of limited partnership interests, issuance of shares (in shares)		15,974,143		29,118,664
Repurchase of class A common stock (in shares)	10,688,000	9,814,000	21,938,000	10,660,000
Cantor purchase of Cantor units from BGC Holdings upon redemption of RFUs (in shares)		6,368,964		6,368,964
Dividends declared per share of common stock (in dollars per share)	$ 0.02	$ 0.01	$ 0.03	$ 0.02
Dividends declared and paid per share of common stock (in dollars per share)	$ 0.02	$ 0.01	$ 0.03	$ 0.02
Partnership Units
Redemption of FPUs (in shares)		133,135		156,049
Class A Common Stock
Equity-based compensation (in shares)	3,798,747	534,010	8,776,156	2,630,013
Grant of exchangeability and redemption of limited partnership interests, issuance of shares (in shares)	753,000	17,082,000	1,118,000	30,226,000
Issuance of common stock (in shares)	122,220	166,280	168,894	179,583
Repurchase of class A common stock (in shares)	9,431,127	9,813,827	19,251,407	10,659,717
Forfeiture of class A common stock (in shares)	36,465	189,726	672,632	238,927
Issuance of Class A common stock and RSUs for acquisitions (in shares)	0	3,494,000	472,255	4,152,000
Class A Common Stock | Smith Mack
Issuance of Class A common stock and RSUs for acquisitions (in shares)		4,432,568		5,090,814

Limited Partnership Interests i

Limited Partnership Interests in BGC Holdings and Newmark Holdings	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Limited Partnership Interests in BGC Holdings and Newmark Holdings	Limited Partnership Interests in BGC Holdings and Newmark Holdings Prior to the Corporate Conversion, BGC Partners was a holding company with no direct operations which conducted substantially all of its operations through its operating subsidiaries. Virtually all of BGC Partners’ consolidated assets and net income were those of consolidated variable interest entities. BGC Holdings was a consolidated subsidiary of BGC Partners for which BGC Partners was the general partner. BGC Partners and BGC Holdings jointly owned BGC U.S. OpCo and BGC Global OpCo, the two operating partnerships of the Company. In addition, Newmark Holdings is a consolidated subsidiary of Newmark for which Newmark is the general partner. Newmark and Newmark Holdings jointly own Newmark OpCo, the operating partnership. Listed below are the limited partnership interests in BGC Holdings, prior to the Corporate Conversion, and Newmark Holdings. The FPUs, LPUs and limited partnership interests held by Cantor, each as described below, collectively represent all of the limited partnership interests in BGC Holdings, prior to the Corporate Conversion, and Newmark Holdings. The Corporate Conversion had no impact on Newmark and its organizational structure, nor any limited partnership interests, described below, held by BGC employees in Newmark Holdings. As a result of the Separation, limited partnership interests in Newmark Holdings were distributed to the holders of limited partnership interests in BGC Holdings, whereby each holder of BGC Holdings limited partnership interests at that time who held a BGC Holdings limited partnership interest received a corresponding Newmark Holdings limited partnership interest, determined by the Contribution Ratio, which was equal to a BGC Holdings limited partnership interest multiplied by one divided by 2.2, divided by the Exchange Ratio. Initially, the Exchange Ratio equaled one, so that each Newmark Holdings limited partnership interest was exchangeable for one share of Newmark Class A common stock. For reinvestment, acquisition or other purposes, Newmark may determine on a quarterly basis to distribute to its stockholders a smaller percentage than Newmark Holdings distributes to its equity holders (excluding tax distributions from Newmark Holdings) of cash that it received from Newmark OpCo. In such circumstances, the Separation and Distribution Agreement provides that the Exchange Ratio will be reduced to reflect the amount of additional cash retained by Newmark as a result of the distribution of such smaller percentage, after the payment of taxes. The Exchange Ratio as of June 30, 2024 equaled 0.9248. Founding/Working Partner Units Founding/Working Partners had FPUs in BGC Holdings and have FPUs in Newmark Holdings. As of June 30, 2023, in connection with the Corporate Conversion, all FPUs in BGC Holdings were redeemed or exchanged. The Corporate Conversion had no impact on FPUs held by partners of Newmark Holdings. Prior to the Corporate Conversion, BGC Partners accounted for FPUs outside of permanent capital, as “Redeemable partnership interest,” in the Company’s unaudited Condensed Consolidated Statements of Financial Condition. This classification was applicable to Founding/Working Partner units because these units were redeemable upon termination of a partner, including a termination of employment, which could be at the option of the partner and not within the control of the issuer. The BGC RSUs issued for the redemption of non-exchangeable FPUs in BGC Holdings, in connection with the Corporate Conversion, are now accounted for as a part of permanent capital. FPUs were held by limited partners who were employees and generally received quarterly allocations of net income. Upon termination of employment or otherwise ceasing to provide substantive services, the FPUs were generally redeemed, and the unit holders were no longer entitled to participate in the quarterly allocations of net income. Since these allocations of net income were cash distributed on a quarterly basis and were contingent upon services being provided by the unit holder, they were reflected as a component of compensation expense under “Equity-based compensation and allocations of net income to limited partnership units and FPUs” in the Company’s unaudited Condensed Consolidated Statements of Operations. Limited Partnership Units Certain BGC employees held LPUs in BGC Holdings and hold LPUs in Newmark Holdings (e.g., REUs, RPUs, PSUs, and PSIs). Prior to the Separation, certain employees of both BGC and Newmark received LPUs in BGC Holdings. As a result of the Separation, these employees were distributed LPUs in Newmark Holdings equal to a BGC Holdings LPU multiplied by the Contribution Ratio. Subsequent to the Separation, BGC employees were only granted LPUs in BGC Holdings, and Newmark employees are only granted LPUs in Newmark Holdings. In connection with, or as a result of, the Corporate Conversion, certain LPUs in BGC Holdings were redeemed/converted into BGC restricted stock awards or RSUs, and upon completion of the Corporate Conversion, there were no LPUs of BGC Holdings remaining. The Corporate Conversion had no impact on the LPUs in Newmark Holdings held by BGC employees. Generally, LPUs received quarterly allocations of net income, which were cash distributed and generally were contingent upon services being provided by the unit holder. As prescribed in U.S. GAAP guidance, following the Spin-Off, the quarterly allocations of net income on BGC Holdings LPUs held by BGC employees were reflected as a component of compensation expense under “Equity-based compensation and allocations of net income to limited partnership units and FPUs” in the Company’s unaudited Condensed Consolidated Statements of Operations prior to the Corporate Conversion, and quarterly allocations of net income on Newmark Holdings LPUs held by BGC employees, which were not impacted by the Corporate Conversion, are reflected as a component of compensation expense under “Equity-based compensation and allocations of net income to limited partnership units and FPUs” in the Company’s unaudited Condensed Consolidated Statements of Operations. Quarterly allocations of net income on BGC Holdings LPUs held by Newmark employees were reflected as a component of “Net income (loss) attributable to noncontrolling interest in subsidiaries” in the Company’s unaudited Condensed Consolidated Statements of Operations, prior to the Corporate Conversion. From time to time, the Company also issued BGC LPUs as part of the consideration for acquisitions. Certain of these LPUs in BGC Holdings and Newmark Holdings, such as REUs, entitle the holders to receive post-termination payments equal to the notional amount of the units in four equal yearly installments after the holder’s termination. There were none of these LPUs in BGC Holdings remaining after the Corporate Conversion was completed while these LPUs in Newmark Holdings held by BGC employees were not impacted by the Corporate Conversion. These LPUs held by BGC employees are accounted for as post-termination liability awards, and in accordance with U.S. GAAP guidance, the Company records compensation expense for the awards based on the change in value at each reporting date in the Company’s unaudited Condensed Consolidated Statements of Operations as part of “Equity-based compensation and allocations of net income to limited partnership units and FPUs.” Certain BGC employees held Preferred Units in BGC Holdings and hold Preferred Units in Newmark Holdings. In connection with, or as a result of, the Corporate Conversion, certain Preferred Units in BGC Holdings were redeemed/converted into BGC restricted stock awards or RSU Tax Accounts, and upon completion of the Corporate Conversion, there were no Preferred Units of BGC Holdings remaining. The Corporate Conversion had no impact on Preferred Units in Newmark Holdings held by BGC employees. The following description of LPUs and Preferred Units in BGC Holdings is only applicable for the period prior to the Corporate Conversion, and for LPUs and Preferred Units held by BGC employees in Newmark Holdings is applicable to before and after the Corporate Conversion. Each quarter, the net profits of BGC Holdings and Newmark Holdings are allocated to such units at a rate of either 0.6875% (which is 2.75% per calendar year) or such other amount as set forth in the award documentation. These allocations are deducted before the calculation and distribution of the quarterly partnership distribution for the remaining partnership interests and are generally contingent upon services being provided by the unit holder. The Preferred Units are not entitled to participate in partnership distributions other than with respect to the Preferred Distribution. Preferred Units may not be made exchangeable into Class A common stock, and are only entitled to the Preferred Distribution; accordingly, they are not included in the fully diluted share count. The quarterly allocations of net income on Preferred Units are reflected the same as those of the LPUs described above in the Company’s unaudited Condensed Consolidated Statements of Operations. After deduction of the Preferred Distribution, the remaining partnership units generally received quarterly allocations of net income based on their weighted-average pro rata share of economic ownership of the operating subsidiaries. Preferred Units are granted in connection with the grant of certain LPUs, such as PSUs, which may be granted exchangeability or redeemed in connection with the issuance of shares of common stock to cover the withholding taxes owed by the unit holder, rather than issuing the gross amount of shares to employees, subject to cashless withholding of shares to pay applicable withholding taxes. Cantor Units Prior to the Corporate Conversion, Cantor held limited partnership interests in BGC Holdings. Cantor units were reflected as a component of “Noncontrolling interest in subsidiaries” in the Company’s unaudited Condensed Consolidated Statements of Financial Condition. Cantor received allocations of net income (loss), which were cash distributed on a quarterly basis and were reflected as a component of “Net income (loss) attributable to noncontrolling interest in subsidiaries” in the Company’s unaudited Condensed Consolidated Statements of Operations. As a result of the Corporate Conversion, 64.0 million Cantor units were converted into shares of BGC Group Class B common stock, subject to the terms and conditions of the Corporate Conversion Agreement, provided that a portion of the 64.0 million shares of BGC Group Class B common stock issued to Cantor will exchange into BGC Group Class A common stock in the event that BGC Group does not issue at least $75,000,000 in shares of BGC Group Class A or B common stock in connection with certain acquisition transactions prior to the seventh anniversary of the Corporate Conversion. General Certain of the limited partnership interests, described above, were granted exchangeability into shares of BGC Class A common stock, prior to the Corporate Conversion, or shares of Newmark Class A common stock, and additional limited partnership interests could become exchangeable into shares of Newmark Class A common stock. In addition, prior to the Corporate Conversion, certain limited partnership interests were granted the right to exchange into or were exchanged into a partnership unit with a capital account, such as HDUs. HDUs had a stated capital account which was initially based on the closing trading price of Class A common stock at the time the HDU was granted. HDUs participated in quarterly partnership distributions and were generally not exchangeable into shares of Class A common stock. Subsequent to the Spin-Off and prior to the Corporate Conversion, limited partnership interests in BGC Holdings held by a partner or Cantor could become exchangeable for BGC Class A or BGC Class B common stock on a one-for-one basis. In addition, subsequent to the Spin-Off, limited partnership interests in Newmark Holdings held by a partner or Cantor may become exchangeable for a number of shares of Newmark Class A or Newmark Class B common stock equal to the number of limited partnership interests multiplied by the then-current Exchange Ratio. Because limited partnership interests were included in the Company’s fully diluted share count, if dilutive, prior to the Corporate Conversion, any previous exchanges of limited partnership interests into shares of BGC Class A or BGC Class B common stock did not impact the fully diluted number of shares and units outstanding. Because these limited partnership interests generally received quarterly allocations of net income, such exchanges had no significant impact on the cash flows or equity of BGC Partners, prior to the Corporate Conversion. Prior to the Corporate Conversion, each quarter, net income (loss) was allocated between the limited partnership interests and BGC Partners’ common stockholders. In quarterly periods in which BGC Partners had a net loss, the loss allocation for FPUs, LPUs and Cantor units in BGC Holdings was allocated to Cantor and reflected as a component of “Net income (loss) attributable to noncontrolling interest in subsidiaries” in the Company’s unaudited Condensed Consolidated Statements of Operations. In subsequent quarters in which BGC Partners had net income, the initial allocation of income to the limited partnership interests in BGC Holdings was to Cantor and was recorded as “Net income (loss) attributable to noncontrolling interests in subsidiaries,” to recover any losses taken in earlier quarters, with the remaining income allocated to the limited partnership interests. This income (loss) allocation process had no impact on the net income (loss) allocated to common stockholders.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting PoliciesFor a detailed discussion about the Company’s significant accounting policies, see Note 3—“Summary of Significant Accounting Policies,” in its consolidated financial statements included in Part II, Item 8 of the Annual Report on Form 10-K for the year ended December 31, 2023. During the six months ended June 30, 2024, there were no significant changes made to the Company’s significant accounting policies.

Organization and Basis of Prese

Organization and Basis of Presentation	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Presentation	Organization and Basis of Presentation Business Overview On July 1, 2023, the Company completed its Corporate Conversion to a Full C-Corporation in order to reorganize and simplify its organizational structure. As a result of the Corporate Conversion, BGC Group became the public holding company for, and successor to, BGC Partners, and its Class A common stock began trading on Nasdaq, in place of BGC Partners’ Class A common stock, under the ticker symbol “BGC.” Upon completion of the Corporate Conversion, the former stockholders of BGC Partners and the former limited partners of BGC Holdings now participate in the economics of the BGC businesses through BGC Group. BGC is a leading global marketplace, data, and financial technology services company for a broad range of products, including fixed income, foreign exchange, energy, commodities, shipping, and equities. BGC, through its affiliates, specializes in the trade execution of a broad range of products, including fixed income securities such as government bonds, corporate bonds, and other debt instruments, as well as related interest rate derivatives and credit derivatives. Additionally, the Company provides brokerage services across FX, Equities, ECS, and Futures and Options. The Company’s business also provides connectivity and network solutions, clearing, market data and network connectivity products, trade compression and other post-trade services, market data and related information services and other back-office services to a broad assortment of financial and non-financial institutions. BGC’s integrated platform is designed to provide flexibility to customers with regard to price discovery, trade execution and transaction processing, as well as accessing liquidity through our platforms, for transactions executed either OTC or through an exchange. Through the Company’s electronic brands, BGC Group offers several trade execution, market infrastructure and connectivity services, as well as post-trade services. The Company’s clients include many of the world’s largest banks, broker-dealers, investment banks, trading firms, hedge funds, governments, corporations, and investment firms. BGC is a global operation with offices across all major geographies, including New York and London, as well as in Bahrain, Beijing, Bogota, Brisbane, Cape Town, Chicago, Copenhagen, Dubai, Dublin, Frankfurt, Geneva, Hong Kong, Houston, Johannesburg, Madrid, Manila, Melbourne, Mexico City, Miami, Milan, Monaco, Nyon, Paris, Perth, Rio de Janeiro, Santiago, São Paulo, Seoul, Shanghai, Singapore, Sydney, Tel Aviv, Tokyo, Toronto, and Zurich. Corporate Conversion Effective as of 12:01 a.m., Eastern Time, on July 1, 2023, BGC Holdings reorganized from a Delaware limited partnership into a Delaware limited liability company through a merger with and into Holdings Merger Sub, with Holdings Merger Sub continuing as a direct subsidiary of BGC Partners. Effective as of 12:02 a.m., Eastern Time, on July 1, 2023, Merger Sub 1 merged with and into BGC Partners, with BGC Partners continuing as a direct subsidiary of BGC Group. At the same time, Merger Sub 2 merged with and into Holdings Merger Sub, with Holdings Merger Sub continuing as a subsidiary of BGC Group. As a result of the Corporate Conversion Mergers, BGC Partners and BGC Holdings became wholly owned subsidiaries of BGC Group. In the Holdings Reorganization Merger, each unit of BGC Holdings outstanding as of immediately prior to the Holdings Reorganization Merger was converted into a substantially equivalent equity interest in Holdings Merger Sub. In the Corporate Merger, each share of Class A common stock, par value $0.01 per share, of BGC Partners and each share of Class B common stock, par value $0.01 per share, of BGC Partners outstanding was converted into one share of Class A common stock, par value $0.01 per share, of BGC Group and one share of Class B common stock, par value $0.01 per share, of BGC Group, respectively. In connection with, but prior to the Corporate Conversion, the Company completed various transactions which included: • the redemption of certain non-exchangeable limited partnership units in connection with the issuance of shares of BGC Partners Class A common stock and the accompanying tax payments, which led to an equity-based compensation charge of $60.9 million; • the exchange of the remaining 1.5 million exchangeable limited partnership units of BGC Holdings held by employees on June 30, 2023, for 1.0 million shares, after tax withholding, of BGC Partners Class A common stock; • the redemption of certain non-exchangeable limited partnership units of BGC Holdings held by employees and issuance of 16.9 million BGC Partners RSUs on a one-for-one basis on June 30, 2023; • the redemption of certain non-exchangeable Preferred Units of BGC Holdings held by employees and issuance of $49.2 million of BGC Partners RSU Tax Accounts on June 30, 2023, based on the fixed cash value of the Preferred Units redeemed; • the redemption of the remaining 5.6 million non-exchangeable FPUs and issuances of BGC Partners RSUs on a one-for-one basis on June 30, 2023, which in turn reduced the “Redeemable Partnership Interest” to zero with an offsetting impact to “Total equity” in the Company’s unaudited Condensed Consolidated Statements of Financial Condition as of June 30, 2023; and • the purchase on June 30, 2023 by Cantor from BGC Holdings of an aggregate of 5,425,209 Cantor units for an aggregate consideration of $9,715,772 as a result of the redemption of 5,425,209 FPUs, and 324,223 Cantor units for an aggregate consideration of $598,712 as a result of the exchange of 324,223 FPUs. As a result of the Corporate Conversion: • 64.0 million Cantor units, including 5.7 million purchased on June 30, 2023, were converted into shares of BGC Group Class B common stock, subject to the terms and conditions of the Corporate Conversion Agreement, provided that a portion of the 64.0 million shares of BGC Group Class B common stock issued to Cantor will exchange into BGC Group Class A common stock in the event that BGC Group does not issue at least $75,000,000 in shares of BGC Group Class A or B common stock in connection with certain acquisition transactions prior to July 1, 2030, the seventh anniversary of the Corporate Conversion; • BGC Group assumed all BGC Partners RSUs, RSU Tax Accounts or restricted stock awards outstanding as of June 30, 2023; and • non-exchangeable limited partnership units of BGC Holdings were converted into equity awards denominated in cash, restricted stock and/or RSUs of BGC Group, each as further set forth in the Corporate Conversion Agreement. BGC Group granted 38.6 million restricted stock awards, 25.3 million RSUs, and $74.0 million of RSU Tax Accounts upon the conversion of the non-exchangeable shares of Holdings Merger Sub. There were no limited partnership units of BGC Holdings remaining after the Corporate Conversion was completed. In connection with the Corporate Conversion on July 1, 2023, BGC Group assumed and adopted: the Eighth Amended and Restated BGC Partners, Inc. Long-Term Incentive Plan, as amended and restated as the BGC Group, Inc. Long Term Incentive Plan; the BGC Partners Second Amended and Restated BGC Partners Incentive Bonus Compensation Plan, as amended and restated, and renamed the BGC Group, Inc. Incentive Bonus Compensation Plan; and the BGC Partners, Inc. Deferral Plan for Employees of BGC Partners, Inc., Cantor Fitzgerald, L.P. and Their Affiliates, as amended and restated as the BGC Group, Inc. Deferral Plan for Employees of BGC Group, Inc., Cantor Fitzgerald, L.P. and Their Affiliates. The BGC Group Equity Plan provides for a maximum of 600 million shares of BGC Class A common stock that may be delivered or cash settled pursuant to the exercise or settlement of awards granted under the plan. In connection with the Corporate Conversion on July 1, 2023, the BGC Holdings Limited Partnership Agreement was terminated, and the BGC Holdings, L.P. Participation Plan was terminated. In connection with the Corporate Conversion on July 1, 2023, BGC Group amended and restated its certificate of incorporation to reflect an increase in the authorized shares of BGC Group Class A common stock to 1,500,000,000; an increase in the authorized shares of BGC Group Class B common stock to 300,000,000; and a provision providing for exculpation to officers of BGC Group pursuant to Section 102(b)(7) of the DGCL. Additionally, BGC Group amended and restated its bylaws to adopt a provision providing that Delaware courts shall be the exclusive forum for certain matters. Basis of Presentation The Company’s unaudited Condensed Consolidated Financial Statements and Notes to the unaudited Condensed Consolidated Financial Statements have been prepared pursuant to the rules and regulations of the SEC and in conformity with U.S. GAAP. Accordingly, they do not include all information and footnotes required by U.S. GAAP for annual financial statements and, as such, the information in this Quarterly Report on Form 10-Q should be read in conjunction with the audited Consolidated Financial Statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023. The Company’s unaudited Condensed Consolidated Financial Statements include the Company’s accounts and all subsidiaries in which the Company has a controlling interest. Intercompany balances and transactions have been eliminated in consolidation. Certain reclassifications have been made to previously reported amounts to conform to the current presentation. During the second quarter of 2023, the Company renamed “Data, software and post-trade” as “Data, network and post-trade” on the unaudited Condensed Consolidated Statements of Operations. During the third quarter of 2023, the Company renamed “Net income (loss) available to common stockholders” as “Net income (loss) attributable to common stockholders” under the Basic earnings (loss) per share calculation on the unaudited Condensed Consolidated Statements of Operations. During the first quarter of 2024, the Company changed the name of the brokerage product line formerly labeled as “Energy and Commodities” to “Energy, Commodities, and Shipping” to better reflect the integrated operations of these businesses. The change did not result in any classification of revenues and had no impact on the Company’s Total brokerage revenues. See Note 22—“Segment, Geographic and Product Information.” The unaudited Condensed Consolidated Financial Statements contain all adjustments (consisting only of normal and recurring adjustments) that, in the opinion of management, are necessary for a fair presentation of the unaudited Condensed Consolidated Statements of Financial Condition, the unaudited Condensed Consolidated Statements of Operations, the unaudited Condensed Consolidated Statements of Comprehensive Income (Loss), the unaudited Condensed Consolidated Statements of Cash Flows and the unaudited Condensed Consolidated Statements of Changes in Equity of the Company for the periods presented. Recently Adopted Accounting Pronouncements In October 2021, the FASB issued ASU No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers . The standard improves the accounting for acquired revenue contracts with customers in a business combination by addressing diversity in practice and inconsistency related to the recognition of an acquired contract liability, as well as payment terms and their effect on subsequent revenue recognized by the acquirer. The ASU requires companies to apply guidance in ASC 606, Revenue from Contracts with Customers , to recognize and measure contract assets and contract liabilities from contracts with customers acquired in a business combination, and, thus, creates an exception to the general recognition and measurement principle in ASC 805, Business Combinations . BGC adopted the standard on the required effective date beginning January 1, 2023 using a prospective transition method for business combinations occurring on or after the effective date. The adoption of this guidance did not have a material impact on the Company’s unaudited Condensed Consolidated Financial Statements. In March 2022, the FASB issued ASU No. 2022-02, Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures . The guidance is intended to improve the decision usefulness of information provided to investors about certain loan refinancings, restructurings, and write-offs. The standard eliminates the recognition and measurement guidance on TDRs for creditors that have adopted ASC 326, Financial Instruments — Credit Losses and requires them to make enhanced disclosures about loan modifications for borrowers experiencing financial difficulty. The new guidance also requires public business entities to present current-period gross write-offs (on a current year-to-date basis for interim-period disclosures) by year of origination in their vintage disclosures. BGC adopted the standard on the required effective date beginning January 1, 2023. The guidance for recognition and measurement of TDRs was applied using a prospective transition method, and the amendments related to disclosures will be applied prospectively. The adoption of this guidance did not have a material impact on the Company’s unaudited Condensed Consolidated Financial Statements. In September 2022, the FASB issued ASU No. 2022-04, Liabilities—Supplier Finance Programs (Subtopic 405-50): Debt Restructurings Disclosure of Supplier Finance Program Obligations . The guidance requires entities to disclose the key terms of supplier finance programs they use in connection with the purchase of goods and services along with information about their obligations under these programs, including a rollforward of those obligations. BGC adopted the standard on the required effective date beginning on January 1, 2023, except for the rollforward requirement, which became effective for the Company beginning on January 1, 2024. The guidance was adopted using a retrospective application to all periods in which a balance sheet is presented, and the rollforward disclosure requirement, will be applied prospectively. The adoption of the guidance that was effective beginning January 1, 2023 did not have a material impact on the Company’s unaudited Condensed Consolidated Financial Statements. The rollforward disclosure requirement did not have a material impact on the Company’s unaudited Condensed Consolidated Financial Statements. New Accounting Pronouncements In December 2022, the FASB issued ASU No. 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848. ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting provided optional guidance to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. The ASU was effective upon issuance and generally could be applied through December 31, 2022. Because the current relief in ASC 848, Reference Rate Reform may not cover a period of time during which a significant number of modifications may take place, the amendments in ASU No. 2022-06 defer the sunset date from December 31, 2022 to December 31, 2024, after which entities will no longer be permitted to apply the relief in ASC 848. The ASU is effective upon issuance. Management is currently evaluating the impact of the new standard on the Company’s unaudited Condensed Consolidated Financial Statements. In October 2023, the FASB issued ASU No. 2023-06, Disclosure Improvements—Codification Amendments in Response to the SEC ’ s Disclosure Update and Simplification Initiative. The standard is expected to clarify or improve disclosure and presentation requirements of a variety of ASC topics, allow users to more easily compare entities subject to the SEC’s existing disclosure requirements with those entities that were not previously subject to the requirements, and align the requirements in the Codification with the SEC’s regulations. The effective date for the guidance will be the date on which the SEC’s removal of the related disclosure from Regulation S-X or Regulation S-K becomes effective. If by June 30, 2027 the SEC has not removed the applicable requirements from Regulation S-X or Regulation S-K, the pending content of the related amendment will be removed from the Codification and will not become effective for any entity. Management is currently evaluating the impact of the new standard on the Company’s unaudited Condensed Consolidated Financial Statements. In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The guidance was issued in response to requests from investors for companies to disclose more information about their financial performance at the segment level. The ASU does not change how a public entity identifies its operating segments, aggregates them or applies the quantitative thresholds to determine its reportable segments. The standard will require a public entity to disclose significant segment expenses and other segment items on an annual and interim basis, and to provide in interim periods all disclosures about a reportable segment’s profit or loss and assets that are currently required annually. Public entities with a single reportable segment will be required to provide the new disclosures and all the disclosures currently required under ASC 280. The new guidance will become effective for the Company’s financial statements issued for annual reporting periods beginning on January 1, 2024 and for the interim periods beginning on January 1, 2025, will require retrospective presentation, and early adoption is permitted. Management is currently evaluating the impact of the new standard on the Company’s unaudited Condensed Consolidated Financial Statements. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The standard improves the transparency of income tax disclosures by requiring consistent categories and greater disaggregation of information in the rate reconciliation and income taxes paid disaggregated by jurisdiction. The ASU also includes certain other amendments to improve the effectiveness of income tax disclosures. The new guidance will become effective for the Company’s financial statements issued for annual reporting periods beginning on January 1, 2025, will require prospective presentation with an option for entities to apply it retrospectively for each period presented, and early adoption is permitted. Management is currently evaluating the impact of the new standard on the Company’s unaudited Condensed Consolidated Financial Statements. In March 2024, the FASB issued ASU No. 2024-01, Compensation—Stock Compensation (Topic 718): Scope Application of Profits Interest and Similar Awards . The standard is intended to reduce the complexity in determining whether profits interests and similar awards are in the scope of ASC 718 and to reduce diversity in practice. The new guidance applies to all reporting entities that grant profits interest awards or similar awards to employees or nonemployees in exchange for goods or services. The ASU adds an example to ASC 718 that illustrates how to apply the scope guidance to determine whether a profits interest award should be accounted for as a share-based payment arrangement under ASC 718 or another accounting standard. The new guidance will become effective for the Company beginning on January 1, 2025, can be applied either retrospectively to all periods presented or prospectively to profits interest awards granted or modified on or after the adoption date, and early adoption is permitted. Management is currently evaluating the impact of the new standard on the Company’s unaudited Condensed Consolidated Financial Statements. In March 2024, the FASB issued ASU No. 2024-02, Codification Improvements—Amendments to Remove References to the Concepts Statements . The Conceptual Framework establishes concepts that the Board considers in developing standards. The ASU was issued to remove references to the Conceptual Framework in the Codification. The FASB noted that references to the Concepts Statements in the Codification could have implied that the Concepts Statements are authoritative. Also, some of the references removed were to Concepts Statements that are superseded. The new guidance will become effective for the Company beginning on January 1, 2025, can be applied either retrospectively to all periods presented or prospectively to all new transactions recognized on or after the adoption date, and early adoption is permitted. Management is currently evaluating the impact of the new standard on the Company’s unaudited Condensed Consolidated Financial Statements. SEC Rule on Climate-Related Disclosures The SEC recently adopted the final rules, The Enhancement and Standardization of Climate-Related Disclosures for Investors that will require registrants to provide climate-related disclosures in a note to the audited financial statements. The disclosures will include certain effects of severe weather events and other natural conditions, including the aggregate amounts and where in the financial statements they are presented. If carbon offsets or renewable energy credits or certificates (RECs) are deemed a material component of the registrant’s plans to achieve its disclosed climate-related targets, registrants will be required to disclose information about the offsets and RECs. Registrants will also be required to disclose whether and how (1) exposures to risks and uncertainties associated with, or known impacts from, severe weather events and other natural conditions and (2) any disclosed climate-related targets or transition plans materially impacted the estimates and assumptions used in preparing the financial statements. Finally, registrants will be required to disclose additional contextual information about the above disclosures, including how each financial statement effect was derived and the accounting policy decisions made to calculate the effects, for the most recently completed fiscal year and, if previously disclosed or required to be disclosed, for the historical fiscal year for which audited consolidated financial statements are included in the filing. Subsequent to the issuance, the SEC has released an order staying the final rules pending judicial review of all of the petitions challenging the rules. Absent the stay, the rules would have been effective for the Company on May 28, 2024 and phased in starting in 2025. Management is currently monitoring the developments pertaining to the final rules and any resulting potential impacts on the Company’s unaudited Condensed Consolidated Financial Statements.

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2024
Business Combinations [Abstract]
Acquisitions	Acquisitions There were no acquisitions completed by the Company during the six months ended June 30, 2024. Trident On February 28, 2023 the Company completed the acquisition of Trident, primarily operating as a commodity brokerage and research company, offering OTC and exchange traded energy and environmental products. ContiCap On November 1, 2023 the Company completed the acquisition of ContiCap, an independent financial product intermediary specializing in emerging markets. Open Energy Group On November 1, 2023 the Company completed the acquisition of Open Energy Group, a technology-driven marketplace and brokerage for renewable energy asset sales and project finance. Total Consideration The total consideration for all acquisitions during the year ended December 31, 2023 was approximately $71.0 million, subject to post-closing adjustments, which includes cash, restricted shares of BGC Class A common stock, and an earn-out payable in cash and restricted shares of BGC Class A common stock. The excess of the consideration over the fair value of the net assets acquired has been recorded as goodwill totaling $18.7 million. Except where otherwise noted, the results of operations of the Company’s acquisitions have been included in the Company’s unaudited Condensed Consolidated Financial Statements subsequent to the date of acquisition. The Company has made a preliminary allocation of the consideration to the assets acquired and liabilities assumed for ContiCap and Open Energy Group as of the acquisition dates, and expects to finalize its analysis with respect to the acquisitions within the first year after the completion of the transactions. Therefore, adjustments to the preliminary allocation may occur.

Divestitures

Divestitures	6 Months Ended
	Jun. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]
Divestitures	Divestitures The Company had no divestitures or sale of investments during both the six months ended June 30, 2024 and 2023.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic Earnings Per Share: The following is the calculation of the Company’s basic EPS (in thousands, except per share data): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Basic earnings (loss) per share: Net income (loss) available to common stockholders $ 37,828 $ (19,704) $ 87,038 $ (726) Less: Dividends declared and allocation of undistributed earnings to participating securities (1,774) — (4,536) — Net income (loss) attributable to common stockholders $ 36,054 $ (19,704) $ 82,502 $ (726) Basic weighted-average shares of common stock outstanding 475,272 391,745 472,895 383,528 Basic earnings (loss) per share $ 0.08 $ (0.05) $ 0.17 $ — Fully Diluted Earnings Per Share: The following is the calculation of the Company’s fully diluted EPS (in thousands, except per share data): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Fully diluted earnings (loss) per share: Net income (loss) attributable to common stockholders $ 36,054 $ (19,704) $ 82,502 $ (726) Add back: Allocations of undistributed earnings to participating securities 1,438 — 3,994 — Less: Reallocation of undistributed earnings to participating securities (1,422) — (3,943) — Net income (loss) for fully diluted shares $ 36,070 $ (19,704) $ 82,553 $ (726) Weighted-average shares: Common stock outstanding 475,272 391,745 472,895 383,528 Other 1 5,589 — 6,522 — Fully diluted weighted-average shares of common stock outstanding 480,861 391,745 479,417 383,528 Fully diluted earnings (loss) per share $ 0.08 $ (0.05) $ 0.17 $ — ____________________________ 1 Primarily consists of contracts to issue shares of BGC common stock. For the three months ended June 30, 2024 and 2023, 15.9 million and 114.2 million, respectively, of potentially dilutive securities were excluded from the computation of fully diluted EPS because their effect would have been anti-dilutive. For the six months ended June 30, 2024 and 2023, 15.9 million and 120.0 million, respectively, of potentially dilutive securities were excluded from the computation of fully diluted EPS because their effect would have been anti-dilutive. Anti-dilutive securities for the three months ended June 30, 2024 included 15.5 million participating RSUs and 0.4 million participating restricted stock awards. Anti-dilutive securities for the six months ended June 30, 2024 included 15.0 million participating RSUs and 0.9 million participating restricted stock awards. As of June 30, 2024, approximately 63.1 million shares of contingent shares of BGC Class A common stock, non-participating RSUs and non-participating restricted stock awards were excluded from the fully diluted EPS computations because the conditions for issuance had not been met by the end of the period. As of June 30, 2023, approximately 39.6 million of contingent shares of BGC Class A common stock, N Units, RSUs, and LPUs were excluded from the fully diluted EPS computations because the conditions for issuance had not been met by the end of the period.

Stock Transactions and Unit Red

Stock Transactions and Unit Redemptions	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Stock Transactions and Unit Redemptions	Stock Transactions and Unit Redemptions Class A Common Stock Changes in shares of BGC Class A common stock outstanding were as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Shares outstanding at beginning of period 385,134 340,875 390,095 325,858 Share issuances: Redemptions/exchanges of limited partnership interests and contingent share obligations¹ 753 17,082 1,118 30,226 Vesting of RSUs 1,975 534 5,685 2,630 Acquisitions — 3,494 472 4,152 Other issuances of BGC Class A common stock 2,450 (3) 4,829 11 Restricted stock forfeitures (36) (190) (673) (239) Treasury stock repurchases (10,688) (9,814) (21,938) (10,660) Shares outstanding at end of period 2 379,588 351,978 379,588 351,978 ____________________________ 1 Contingent share obligations include shares of BGC Class A common stock issued to terminated employees per their respective separation agreements. Included in redemptions/exchanges of limited partnership interests and contingent share obligations for the three months ended June 30, 2024 and 2023 are 0.8 million shares of BGC Class A common stock granted in connection with 0.8 million contingent share obligations, and 13.3 million shares of BGC Class A common stock granted in connection with the cancellation of 19.1 million LPUs, respectively. Included in redemptions/exchanges of limited partnership interests and contingent share obligations for the six months ended June 30, 2024 and 2023 are 1.1 million shares of BGC Class A common stock granted in connection with 1.2 million contingent share obligations, and 20.2 million shares of BGC Class A common stock granted in connection with the cancellation of 26.4 million LPUs, respectively. Because LPUs were included in the Company’s fully diluted share count, if dilutive, redemptions/exchanges of LPUs in connection with the issuance of BGC Class A common stock did not impact the fully diluted number of shares outstanding. 2 Shares outstanding at end of the period, June 30, 2024, includes 15.9 million shares of certain restricted stock awards that do not receive dividends until their respective vesting and contingent conditions are met. These restricted stock awards do have voting rights. Class B Common Stock The Company did not issue any shares of BGC Class B common stock during the three and six months ended June 30, 2024 and 2023. There were 109.5 million shares of BGC Class B common stock outstanding as of both June 30, 2024 and December 31, 2023. As of June 30, 2023 there were 45.9 million shares of BGC Class B common stock outstanding. CEO Program On March 8, 2021, the Company filed a new CEO Program Shelf Registration Statement on Form S-3 with respect to the issuance and sale of up to an aggregate of $300.0 million of shares of BGC Class A common stock from time to time on a delayed or continuous basis. On July 8, 2022, the Company filed an amendment to the March 2021 Form S-3 Registration Statement. On August 3, 2022, the March 2021 Form S-3 Registration Statement was declared effective by the SEC, and the Company entered into the August 2022 Sales Agreement on August 12, 2022. The Company did not sell any shares under the August 2022 Sales Agreement. On July 3, 2023, in connection with the Corporate Conversion, BGC Group filed a post-effective amendment to the March 2021 Form S-3 Registration Statement, pursuant to which it adopted the March 2021 Form S-3 Registration Statement as its own registration statement. Also on July 3, 2023, BGC Group assumed the August 2022 Sales Agreement, as amended and restated to replace references to BGC Partners with references to BGC Group and to make other ministerial changes. BGC Group may sell up to an aggregate of $300.0 million of shares of BGC Class A common stock pursuant to the terms of the July 2023 Sales Agreement. Under the July 2023 Sales Agreement, the Company agreed to pay CF&Co 2% of the gross proceeds from the sale of shares. As of June 30, 2024, the Company had not sold any shares of BGC Class A common stock or paid any commission to CF&Co under the July 2023 Sales Agreement. For additional information on the Company’s CEO Program sales agreements, see Note 13—“Related Party Transactions.” Unit Redemptions and Share Repurchase Program The Company’s Board and Audit Committee have authorized repurchases of BGC Class A common stock and redemptions of limited partnership interests or other equity interests in the Company’s subsidiaries. On November 4, 2022, the Board and Audit Committee increased the BGC Partners share repurchase and unit redemption authorization to $400.0 million, which could have included purchases from Cantor, its partners or employees or other affiliated persons or entities. On July 1, 2023, the BGC Group Board and Audit Committee approved BGC Group’s share repurchase authorization in an amount up to $400.0 million, which may include purchases from Cantor, its partners or employees or other affiliated persons or entities. As of June 30, 2024, the Company had $183.5 million remaining from its share repurchase authorization. From time to time, the Company may actively continue to repurchase shares. The tables below represent the units redeemed and/or the shares repurchased for cash or withheld to satisfy tax liabilities due upon the vesting of restricted stock and do not include units redeemed/cancelled in connection with the grant of shares of BGC Class A common stock nor the limited partnership interests exchanged for shares of BGC Class A common stock. The share repurchases of BGC Class A common stock during the three and six months ended June 30, 2024 were as follows (in thousands, except for weighted-average price data): Period Total Number Weighted-Average Price Approximate Dollar Value of Shares That Could Be Repurchased Under the Program at June 30, 2024 Repurchases 1,2 January 1, 2024—March 31, 2024 11,250 $ 7.11 April 1, 2024—April 30, 2024 1,555 7.68 May 1, 2024—May 31, 2024 5,031 8.62 June 1, 2024—June 30, 2024 4,102 8.21 Total Repurchases 21,938 $ 7.70 $ 183,492 ___________________________ 1 During the three months ended June 30, 2024, the Company repurchased 10.7 million shares of BGC Class A common stock for an aggregate price of $89.0 million at a weighted-average price of $8.32 per share. These repurchases include 1.3 million restricted shares vested but withheld described in the following footnote. During the six months ended June 30, 2024, the Company repurchased 21.9 million shares of BGC Class A common stock for an aggregate price of $168.9 million at a weighted-average price of $7.70 per share. These repurchases include 2.7 million restricted shares vested but withheld described in the following footnote. 2 The three months ended June 30, 2024 includes an aggregate of 1.3 million shares withheld to satisfy tax liabilities due upon the vesting of restricted stock. The average price paid per share for such share withholdings is based on the closing price per share on the vesting date of the restricted stock or, if such date is not a trading day, the trading day immediately prior to such vesting date. The fair value of restricted shares vested, withheld to satisfy tax liabilities was $9.6 million at a weighted-average price of $7.61 per share. The six months ended June 30, 2024 includes an aggregate of 2.7 million shares withheld to satisfy tax liabilities due upon the vesting of restricted stock. The average price paid per share for such share withholdings is based on the closing price per share on the vesting date of the restricted stock or, if such date is not a trading day, the trading day immediately prior to such vesting date. The fair value of restricted shares vested, withheld to satisfy tax liabilities was $21.0 million at a weighted-average price of $7.81 per share. The gross unit redemptions and share repurchases of BGC Class A common stock during the three and six months ended June 30, 2023 were as follows (in thousands, except for weighted-average price data): Period Total Number Weighted-Average Price Approximate Dollar Value of Shares That Could Be Redeemed/ Purchased Under the Program at June 30, 2023 Redemptions 1,2 January 1, 2023—March 31, 2023 23 $ 3.90 April 1, 2023—June 30, 2023 422 4.91 Total Redemptions 445 $ 4.85 Repurchases 3,4 January 1, 2023—March 31, 2023 846 $ 4.97 April 1, 2023—April 30, 2023 3,086 4.48 May 1, 2023—May 31, 2023 3,300 4.36 June 1, 2023—June 30, 2023 3,428 4.48 Total Repurchases 10,660 $ 4.48 Total Redemptions and Repurchases 11,105 $ 4.50 $ 326,449 ____________________________ 1 During the three months ended June 30, 2023, the Company redeemed 0.3 million LPUs for an aggregate redemption price of $1.4 million at a weighted-average price of $4.71 per unit. During the three months ended June 30, 2023, the Company redeemed 0.1 million FPUs for an aggregate redemption price of $0.7 million at a weighted-average price of $5.32 per unit. The table above does not include units redeemed/cancelled in connection with the grant of 13.3 million shares of BGC Class A common stock during the three months ended June 30, 2023, nor the limited partnership interests exchanged for 7.1 million shares of BGC Class A common stock during the three months ended June 30, 2023. 2 During the six months ended June 30, 2023, the Company redeemed 0.3 million LPUs for an aggregate redemption price of $1.4 million at a weighted-average price of $4.71 per unit. During the six months ended June 30, 2023, the Company redeemed 0.2 million FPUs for an aggregate redemption price of $0.8 million at a weighted-average price of $5.11 per unit. The table above does not include units redeemed/cancelled in connection with the grant of 20.2 million shares of BGC Class A common stock during the six months ended June 30, 2023, nor the limited partnership interests exchanged for 13.4 million shares of BGC Class A common stock during the six months ended June 30, 2023. 3 During the three months ended June 30, 2023, the Company repurchased 9.8 million shares of BGC Class A common stock for an aggregate price of $43.6 million at a weighted-average price of $4.44 per share. 4 During the six months ended June 30, 2023, the Company repurchased 10.7 million shares of BGC Class A common stock for an aggregate price of $47.8 million at a weighted-average price of $4.48 per share. Redeemable Partnership Interest The changes in the carrying amount of FPUs were as follows (in thousands): Three Months Ended June 30, 2023 Six Months Ended June 30, 2023 2023 2023 Balance at beginning of period $ 15,423 $ 15,519 Consolidated net income allocated to FPUs — 236 Earnings distributions (236) (236) FPUs exchanged (992) (1,301) FPUs redeemed 311 288 Corporate conversion (14,506) (14,506) Balance at end of period $ — $ — As a result of the Corporate Conversion, there were no redeemable partnership interests outstanding as of June 30, 2024.

Financial Instruments Owned, at

Financial Instruments Owned, at Fair Value	6 Months Ended
	Jun. 30, 2024
Investments, Debt and Equity Securities [Abstract]
Financial Instruments Owned, at Fair Value	Financial Instruments Owned, at Fair Value Financial instruments owned, at fair value primarily consist of unencumbered U.S. Treasury bills held for liquidity purposes. Total Financial instruments owned, at fair value were $194.0 million and $45.8 million as of June 30, 2024 and December 31, 2023, respectively. For additional information, see Note 12—“Fair Value of Financial Assets and Liabilities.” These instruments are measured at fair value, with any changes in fair value recognized in earnings in the Company’s unaudited Condensed Consolidated Statements of Operations. The Company recognized unrealized net gains of nil for the three and six months ended June 30, 2024 and 2023, respectively, related to the mark-to-market adjustments on such instruments.

Collateralized Transactions

Collateralized Transactions	6 Months Ended
	Jun. 30, 2024
Broker-Dealer [Abstract]
Collateralized Transactions	Collateralized Transactions Repurchase Agreements Securities sold under Repurchase Agreements are accounted for as collateralized financing transactions, are recorded at the contractual amount for which the securities will be repurchased, including accrued interest, and recorded as “Repurchase Agreements” on the Company’s unaudited Condensed Consolidated Statements of Financial Condition. As of June 30, 2024, the Company had $6.6 million of Repurchase Agreements, which matured on July 1, 2024. U.S. Treasury securities were provided as collateral. As of December 31, 2023, the Company had no Repurchase Agreements. Reverse Repurchase Agreements Securities purchased under Reverse Repurchase Agreements are accounted for as collateralized financing transactions and are recorded at the contractual amount for which the securities will be resold, including accrued interest. For Reverse Repurchase Agreements, it is the Company’s policy to obtain possession of collateral with a market value equal to or in excess of the principal amount loaned under Reverse Repurchase Agreements. Collateral is valued daily, and the Company may require counterparties to deposit additional collateral or return collateral pledged when appropriate. As of both June 30, 2024 and December 31, 2023, the Company had no Reverse Repurchase Agreements.

Receivables from and Payables t

Receivables from and Payables to Broker-Dealers, Clearing Organizations, Customers and Related Broker-Dealers	6 Months Ended
	Jun. 30, 2024
Broker-Dealer [Abstract]
Receivables from and Payables to Broker-Dealers, Clearing Organizations, Customers and Related Broker-Dealers	Receivables from and Payables to Broker-Dealers, Clearing Organizations, Customers and Related Broker-Dealers Receivables from and payables to broker-dealers, clearing organizations, customers and related broker-dealers primarily represent amounts due for undelivered securities, cash held at clearing organizations and exchanges to facilitate settlement and clearance of matched principal transactions, spreads on matched principal transactions that have not yet been remitted from/to clearing organizations and exchanges and amounts related to open derivative contracts (see Note 11—“Derivatives”). As of June 30, 2024 and December 31, 2023, Receivables from and payables to broker-dealers, clearing organizations, customers and related broker-dealers consisted of the following (in thousands): June 30, 2024 December 31, 2023 Receivables from broker-dealers, clearing organizations, customers and related broker-dealers 1 : Contract values of fails to deliver $ 812,610 $ 182,094 Receivables from clearing organizations 124,279 135,789 Other receivables from broker-dealers and customers 29,088 28,546 Net pending trades 92,019 — Open derivative contracts 4,592 3,607 Total $ 1,062,588 $ 350,036 Payables to broker-dealers, clearing organizations, customers and related broker-dealers 1 : Contract values of fails to receive $ 752,470 $ 172,231 Payables to clearing organizations 110,389 10,846 Other payables to broker-dealers and customers 16,005 13,357 Net pending trades — 76 Open derivative contracts 1,540 5,756 Total $ 880,404 $ 202,266 ____________________________ 1 Includes receivables and payables with Cantor. See Note 13—“Related Party Transactions” for additional information. Substantially all open fails to deliver, open fails to receive and pending trade transactions as of June 30, 2024 have subsequently settled at the contracted amounts.

Derivatives

Derivatives	6 Months Ended
	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	Derivatives In the normal course of operations, the Company enters into derivative contracts to facilitate client transactions, hedge principal positions and facilitate hedging activities of affiliated companies. These derivative contracts primarily consist of FX swaps, FX/commodities options, futures, forwards and interest rate swaps. The fair value of derivative contracts, presented in accordance with the Company’s netting policy, is set forth below (in thousands): June 30, 2024 December 31, 2023 Derivative contract Assets Liabilities Notional Amounts 1 Assets Liabilities Notional Amounts 1 FX swaps $ 3,924 $ 1,230 $ 814,972 $ 2,674 $ 5,119 $ 545,669 Forwards 330 310 197,015 805 609 310,880 Futures 275 — 6,342,606 — 28 6,703,624 Interest rate swaps 63 — 124,080,418 128 — 34,272,592 Total $ 4,592 $ 1,540 $ 131,435,011 $ 3,607 $ 5,756 $ 41,832,765 1 Notional amounts represent the sum of gross long and short derivative contracts, an indication of the volume of the Company’s derivative activity, and do not represent anticipated losses. Certain of the Company’s FX swaps are with Cantor. See Note 13—“Related Party Transactions,” for additional information related to these transactions. The replacement costs of contracts in a gain position were $4.6 million and $3.6 million, as of June 30, 2024 and December 31, 2023, respectively. The following tables present information about the offsetting of derivative instruments (in thousands): June 30, 2024 Gross Gross Net Amounts Presented in the Statements of Financial Condition 1 Assets FX swaps $ 4,485 $ (561) $ 3,924 Forwards 398 (68) 330 Futures 52,329 (52,054) 275 Interest rate swaps 2,691 (2,628) 63 Total derivative assets $ 59,903 $ (55,311) $ 4,592 Liabilities FX swaps $ 1,791 $ (561) $ 1,230 Forwards 378 (68) 310 Futures 52,054 (52,054) — Interest rate swaps 2,628 $ (2,628) — Total derivative liabilities $ 56,851 $ (55,311) $ 1,540 December 31, 2023 Gross Gross Net Amounts Presented in the Statements of Financial Condition 1 Assets FX swaps $ 3,467 $ (793) $ 2,674 Forwards 855 (50) 805 Interest rate swaps 12,310 (12,182) 128 Futures 62,693 (62,693) — Total derivative assets $ 79,325 $ (75,718) $ 3,607 Liabilities FX swaps $ 5,912 $ (793) $ 5,119 Forwards 659 (50) 609 Futures 62,721 (62,693) 28 Interest rate swaps 12,182 (12,182) — Total derivative liabilities $ 81,474 $ (75,718) $ 5,756 1 There were no additional balances in gross amounts not offset as of either June 30, 2024 or December 31, 2023. The change in fair value of derivative contracts is reported as part of “Principal transactions” in the Company’s unaudited Condensed Consolidated Statements of Operations. The table below summarizes gains and (losses) on derivative contracts (in thousands): Three Months Ended June 30, Six Months Ended June 30, Derivative contract 2024 2023 2024 2023 Futures $ 2,833 $ 3,356 $ 6,639 $ 6,777 Interest rate swaps 1,832 189 3,928 217 FX swaps 558 126 1,056 896 FX/commodities options 57 41 104 82 Gains $ 5,280 $ 3,712 $ 11,727 $ 7,972

Fair Value of Financial Assets

Fair Value of Financial Assets and Liabilities	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value of Financial Assets and Liabilities	Fair Value of Financial Assets and Liabilities Fair Value Measurements on a Recurring Basis The following tables set forth by level within the fair value hierarchy financial assets and liabilities accounted for at fair value under U.S. GAAP guidance (in thousands): Assets at Fair Value at June 30, 2024 Level 1 Level 2 Level 3 Netting and Total Financial instruments owned, at fair value—Domestic government debt $ 178,142 $ — $ — $ — $ 178,142 Financial instruments owned, at fair value—Foreign government debt — 15,362 — — 15,362 Financial instruments owned, at fair value—Equities 477 — — — 477 Financial instruments owned, at fair value—Corporate bonds — 7 — — 7 FX swaps — 4,485 — (561) 3,924 Forwards — 398 — (68) 330 Futures 52,329 — — (52,054) 275 Interest rate swaps — 2,691 — (2,628) 63 Total $ 230,948 $ 22,943 $ — $ (55,311) $ 198,580 Liabilities at Fair Value at June 30, 2024 Level 1 Level 2 Level 3 Netting and Total FX swaps $ — $ 1,791 $ — $ (561) $ 1,230 Forwards — 378 — (68) 310 Futures 52,054 — — (52,054) — Interest rate swaps — 2,628 — (2,628) — Contingent consideration — — 8,631 — 8,631 Total $ 52,054 $ 4,797 $ 8,631 $ (55,311) $ 10,171 Assets at Fair Value at December 31, 2023 Level 1 Level 2 Level 3 Netting and Total Financial instruments owned, at fair value—Domestic government debt $ 31,141 $ — $ — $ — $ 31,141 Financial instruments owned, at fair value—Foreign government debt — 14,164 — — 14,164 Financial instruments owned, at fair value—Equities 487 — — — 487 FX swaps — 3,467 — (793) 2,674 Forwards — 855 — (50) 805 Interest rate swaps — 12,310 — (12,182) 128 Futures — 62,693 — (62,693) — Total $ 31,628 $ 93,489 $ — $ (75,718) $ 49,399 Liabilities at Fair Value at December 31, 2023 Level 1 Level 2 Level 3 Netting and Total FX swaps $ — $ 5,912 $ — $ (793) $ 5,119 Forwards — 659 — (50) 609 Futures — 62,721 — (62,693) 28 Interest rate swaps — 12,182 — (12,182) — Contingent consideration — — 11,929 — 11,929 Total $ — $ 81,474 $ 11,929 $ (75,718) $ 17,685 Level 3 Financial Liabilities Changes in Level 3 liabilities measured at fair value on a recurring basis for the three months ended June 30, 2024 were as follows (in thousands): Unrealized (gains) losses Opening Balance at April 1, 2024 Total Unrealized Purchases/ Issuances Sales/ Closing Balance at June 30, 2024 Net (income) loss on Level 3 Assets/Liabilities Outstanding at June 30, 2024 Other comprehensive income (loss) on Level 3 Assets/Liabilities Outstanding at June 30, 2024 Liabilities Accounts payable, accrued and other liabilities: Contingent consideration $ 9,727 $ (96) $ — $ — $ (1,000) $ 8,631 $ (96) $ — ____________________________ 1 Realized and unrealized gains (losses) are reported in “Other income (loss)” in the Company’s unaudited Condensed Consolidated Statements of Operations. 2 Unrealized gains (losses) are reported in “Foreign currency translation adjustments” in the Company’s unaudited Condensed Consolidated Statements of Comprehensive Income (Loss). Changes in Level 3 liabilities measured at fair value on a recurring basis for the three months ended June 30, 2023 were as follows (in thousands): Unrealized (gains) losses Opening Balance at April 1, 2023 Total Unrealized Purchases/ Sales/ Closing Balance at June 30, 2023 Net (income) loss on Level 3 Assets/Liabilities Outstanding at June 30, 2023 Other comprehensive income (loss) on Level 3 Assets/Liabilities Outstanding at June 30, 2023 Liabilities Accounts payable, accrued and other liabilities: Contingent consideration $ 27,673 $ (61) $ — $ — $ (18,703) $ 8,909 $ (209) $ — ____________________________ 1 Realized and unrealized gains (losses) are reported in “ Other income (loss)” in the Company’s unaudited Condensed Consolidated Statements of Operations. 2 Unrealized gains (losses) are reported in “Foreign currency translation adjustments” in the Company’s unaudited Condensed Consolidated Statements of Comprehensive Income (Loss). Changes in Level 3 liabilities measured at fair value on a recurring basis for the six months ended June 30, 2024 were as follows (in thousands): Unrealized (gains) losses Opening Balance at January 1, 2024 Total Unrealized Purchases/ Sales/ Closing Balance at June 30, 2024 Net income (loss) on Level 3 Assets / Liabilities Outstanding at June 30, 2024 Other comprehensive income (loss) on Level 3 Assets / Liabilities Outstanding at June 30, 2024 Liabilities Accounts payable, Contingent consideration $ 11,929 $ (255) $ — $ — $ (3,043) $ 8,631 $ (255) $ — ____________________________ 1 Realized and unrealized gains (losses) are reported in “Other income (loss)” in the Company’s unaudited Condensed Consolidated Statements of Operations. 2 Unrealized gains (losses) are reported in “Foreign currency translation adjustments” in the Company’s unaudited Condensed Consolidated Statements of Comprehensive Income (Loss). Changes in Level 3 liabilities measured at fair value on a recurring basis for the six months ended June 30, 2023 were as follows (in thousands): Unrealized (gains) losses Opening Balance at January 1, 2023 Total Unrealized Purchases/ Sales/ Closing Balance at June 30, 2023 Net income (loss) on Level 3 Assets / Liabilities Outstanding at June 30, 2023 Other comprehensive income (loss) on Level 3 Assets / Liabilities Outstanding at June 30, 2023 Liabilities Accounts payable, Contingent consideration $ 24,279 $ 613 $ — $ 4,675 $ (20,658) $ 8,909 $ 276 $ — ____________________________ 1 Realized and unrealized gains (losses) are reported in “ Other income (loss)” in the Company’s unaudited Condensed Consolidated Statements of Operations. 2 Unrealized gains (losses) are reported in “Foreign currency translation adjustments” in the Company’s unaudited Condensed Consolidated Statements of Comprehensive Income (Loss). Quantitative Information About Level 3 Fair Value Measurements on a Recurring Basis The following tables present quantitative information about the significant unobservable inputs utilized by the Company in the fair value measurement of Level 3 liabilities measured at fair value on a recurring basis (dollar amounts in thousands): Fair Value as of June 30, 2024 Assets Liabilities Valuation Technique Unobservable Inputs Range Weighted Discount rate 1 7.2%-9.2% 8.6% Contingent consideration $ — $ 8,631 Present value of Probability 20%-100% 86.0% 2 ____________________________ 1 The discount rate is based on the Company’s calculated weighted-average cost of capital. 2 The probability of meeting the earnout targets was based on the acquirees’ projected future financial performance, including revenues. Fair Value as of December 31, 2023 Assets Liabilities Valuation Technique Unobservable Inputs Range Weighted Discount rate 1 7.2%-9.2% 8.6% Contingent consideration $ — $ 11,929 Present value of Probability 20%-100% 86.5% 2 ____________________________ 1 The discount rate is based on the Company’s calculated weighted-average cost of capital. 2 The probability of meeting the earnout targets was based on the acquirees’ projected future financial performance, including revenues. Information About Uncertainty of Level 3 Fair Value Measurements The significant unobservable inputs used in the fair value of the Company’s contingent consideration are the discount rate and forecasted financial information. Significant increases (decreases) in the discount rate would have resulted in a significantly lower (higher) fair value measurement. Significant increases (decreases) in the forecasted financial information would have resulted in a significantly higher (lower) fair value measurement. As of June 30, 2024 and December 31, 2023, the present value of expected payments related to the Company’s contingent consideration was $8.6 million and $11.9 million, respectively. The undiscounted value of the payments, assuming that all contingencies are met, was $16.9 million and $18.6 million, as of June 30, 2024 and December 31, 2023, respectively. Fair Value Measurements on a Non-Recurring Basis Pursuant to the recognition and measurement guidance for equity investments, equity investments carried under the measurement alternative are remeasured at fair value on a non-recurring basis to reflect observable transactions which occurred during the period. The Company applied the measurement alternative to equity securities with the fair value of $126.1 million and $85.8 million as of June 30, 2024 and December 31, 2023, respectively, which were included in “Other assets” in the Company’s unaudited Condensed Consolidated Statements of Financial Condition. These investments are classified within Level 2 in the fair value hierarchy, because their estimated fair value is based on valuation methods using the observable transaction price at the transaction date.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2024
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions In connection with the Corporate Conversion on July 1, 2023, the BGC Group Board and the Board of Directors of BGC Partners authorized the assumption of all agreements and arrangements between BGC Partners and any executive officer, director or affiliate of BGC Partners, with such modifications necessary to reflect the Corporate Conversion. Pursuant to the foregoing authorization, any existing agreements and arrangements between BGC Partners and any executive officer, director or affiliate of BGC Partners, were generally assumed unchanged, other than making BGC Group a party thereto. Service Agreements Throughout Europe and Asia, the Company provides Cantor with administrative services, technology services and other support for which it charges Cantor based on the cost of providing such services plus a mark-up, generally 7.5%. In the U.K., the Company provides these services to Cantor through Tower Bridge. The Company owns 52% of Tower Bridge and consolidates it, and Cantor owns 48%. Cantor’s interest in Tower Bridge is reflected as a component of “Noncontrolling interest in subsidiaries” in the Company’s unaudited Condensed Consolidated Statements of Financial Condition, and the portion of Tower Bridge’s income attributable to Cantor is included as part of “Net income (loss) attributable to noncontrolling interest in subsidiaries” in the Company’s unaudited Condensed Consolidated Statements of Operations. In the U.S., the Company provides Cantor with technology services, for which it charges Cantor based on the cost of providing such services. The administrative services agreement provides that direct costs incurred are charged back to the service recipient. Additionally, the service recipient generally indemnifies the service provider for liabilities that it incurs arising from the provision of services other than liabilities arising from fraud or willful misconduct of the service provider. In accordance with the administrative service agreement, the Company has not recognized any liabilities related to services provided to affiliates. For both the three months ended June 30, 2024 and 2023, Cantor’s share of the net profit in Tower Bridge was $0.5 million. For the six months ended June 30, 2024 and 2023, Cantor’s share of the net profit in Tower Bridge was $0.7 million and $0.6 million, respectively. This net profit or loss is included as part of “Net income (loss) attributable to noncontrolling interest in subsidiaries” in the Company’s unaudited Condensed Consolidated Statements of Operations. On September 21, 2018, the Company entered into agreements to provide a guarantee and related obligation to Tower Bridge in connection with an office lease for the Company’s headquarters in London. The Company is obligated to guarantee the obligations of Tower Bridge in the event of certain defaults under the applicable lease and ancillary arrangements. In July 2018, the Audit Committee also authorized management of the Company to enter into similar guarantees or provide other forms of credit support to Tower Bridge or other affiliates of the Company from time to time in the future in similar circumstances and on similar terms and conditions. For the three months ended June 30, 2024 and 2023, the Company recognized related party revenues of $4.6 million and $4.1 million, respectively, for the services provided to Cantor. For the six months ended June 30, 2024 and 2023, the Company recognized related party revenues of $9.1 million and $8.0 million, respectively, for the services provided to Cantor. These revenues are included as part of “Fees from related parties” in the Company’s unaudited Condensed Consolidated Statements of Operations. In the U.S., Cantor and its affiliates provide the Company with administrative services and other support for which Cantor charges the Company based on the cost of providing such services. In connection with the services Cantor provides, the Company and Cantor entered into an administrative services agreement whereby certain employees of Cantor are deemed leased employees of the Company. For the three months ended June 30, 2024 and 2023, the Company was charged $25.7 million and $24.2 million, respectively, for the services provided by Cantor and its affiliates, of which $17.7 million and $16.2 million, respectively, were to cover compensation to leased employees for these periods. For the six months ended June 30, 2024 and 2023, the Company was charged $52.3 million and $48.1 million, respectively, for the services provided by Cantor and its affiliates, of which $37.1 million and $31.7 million, respectively, were to cover compensation to leased employees for these periods. The fees charged by Cantor for administrative and support services, other than those to cover the compensation costs of leased employees, are included as part of “Fees to related parties” in the Company’s unaudited Condensed Consolidated Statements of Operations. The fees charged by Cantor to cover the compensation costs of leased employees are included as part of “Compensation and employee benefits” in the Company’s unaudited Condensed Consolidated Statements of Operations. In connection with the Corporate Conversion on July 1, 2023, BGC Group, Cantor and certain affiliates of Cantor entered into an Amended and Restated U.S. Master Administrative Services Agreement and an Amended and Restated U.K. Master Administrative Services Agreement. FMX Administrative Services Agreement In connection with the FMX Separation, on April 23, 2024, Tower Bridge and FMX entered into an Administrative Services Agreement, pursuant to which Tower Bridge would provide certain administrative services and technology services to FMX. Clearing Agreements with Cantor The Company and its subsidiaries receive certain clearing services from Cantor and its subsidiaries pursuant to several clearing agreements, including the Clearing Services Agreement. These clearing services are provided in exchange for payment by the Company and its subsidiaries of third-party clearing costs and allocated costs. The costs associated with these payments are included as part of “Fees to related parties” in the Company’s unaudited Condensed Consolidated Statements of Operations. The costs for these services are included as part of the charges to BGC for services provided by Cantor and its affiliates as discussed in “Service Agreements” above. On June 7, 2024, the Company amended the Clearing Services Agreement to modify the rate charged by CF&Co for posting margin in respect of trades cleared on behalf of BGCF to a rate equal to CF&Co’s cost of funding such margin through a draw on a third party credit facility provided to CF&Co for which the use of proceeds is to finance clearinghouse margin deposits and related transactions. Clearing Capital Agreement with Cantor In November 2008, the Company entered into the Clearing Capital Agreement with Cantor to clear U.S. Treasury and U.S. government agency securities transactions on the Company’s behalf. In June 2020, the Clearing Capital Agreement was amended to cover Cantor providing clearing services in all eligible financial products to the Company and not just U.S. Treasury and U.S. government agency securities. Pursuant to the terms of this agreement, so long as Cantor is providing clearing services to BGC, Cantor shall be entitled to request from the Company cash or other collateral acceptable to Cantor in the amount reasonably requested by Cantor under the Clearing Capital Agreement or Cantor will post cash or other collateral on BGC’s behalf for a commercially reasonable charge. On June 7, 2024, the Company amended the Clearing Capital Agreement to modify the rate charged Cantor for posting margin in respect of trades cleared on behalf of the Company to a rate equal to Cantor’s cost of funding such margin through a draw on a third party credit facility provided to Cantor, for which the use of proceeds is to finance clearinghouse margin deposits and related transactions. The Clearing Capital Agreement amendment also assigned BGC Partners’ rights and obligations thereunder to BGC Group. During the three months ended June 30, 2024 and 2023, the Company was charged $0.9 million and $0.5 million, respectively, by Cantor for the cash or other collateral posted by Cantor on BGC’s behalf. During the six months ended June 30, 2024 and 2023, the Company was charged $1.9 million and $0.8 million, respectively, by Cantor for the cash or other collateral posted by Cantor on BGC’s behalf. Cantor had not requested any cash or other property from the Company as collateral as of June 30, 2024. Non-Conforming Subordination Agreements On June 26, 2024, the Audit Committee of BGC approved the entry into one or more non-conforming subordination agreements by BGC or its subsidiaries, including FMX, with CF&Co (or its affiliates). Pursuant to any non-conforming subordination agreement, the BGC party would acknowledge that its brokerage account(s) held at CF&Co are not “customers” of CF&Co and would agree to subordinate its right to receive securities or funds held in such accounts to the claims of Cantor’s customers. This acknowledgment and agreement by the relevant BGC party enables CF&Co to receive such securities or funds from the BGC party and post them with the FICC without requiring that they be segregated. Purchase of Futures Exchange Group On July 30, 2021, the Company completed the purchase of the Futures Exchange Group for a purchase price of $4.9 million at closing, plus the cash held at closing by the Futures Exchange Group, and an earn-out, only payable out of the Company’s portion of the profits of the Futures Exchange Group, capped at the amount Cantor contributed to the Futures Exchange Group prior to closing. The transaction has been accounted for as a transaction between entities under common control. As part of the purchase of the Futures Exchange Group, Cantor has agreed to indemnify the Company for certain expenses arising at the Futures Exchange Group up to a maximum of $1.0 million. As of both June 30, 2024 and December 31, 2023, the Company had recorded assets of $1.0 million in the Company’s unaudited Condensed Consolidated Statements of Financial Condition for this indemnity. Newmark Spin-Off The Separation and Distribution Agreement sets forth certain agreements among BGC, Cantor, Newmark and their respective subsidiaries relating to the Spin-Off. For additional information, see Note 2—“Limited Partnership Interests in BGC Holdings and Newmark Holdings” herein and Note 2—“Limited Partnership Interests in BGC Holdings and Newmark Holdings” and Note 13—“Related Party Transactions” to our Consolidated Financial Statements in Part II, Item 8 of our Annual Report on Form 10-K for the year ended December 31, 2023. Subsequent to the Spin-Off, there were remaining partners who held limited partnership interests in BGC Holdings who are Newmark employees, and there are remaining partners who hold limited partnership interests in Newmark Holdings who are BGC employees. These limited partnership interests represent interests that were held prior to the Newmark IPO or were distributed in connection with the Separation. Following the Newmark IPO, employees of BGC and Newmark only receive limited partnership interests in BGC Holdings and Newmark Holdings, respectively. As a result of the Spin-Off, as the previous limited partnership interests in BGC Holdings held by Newmark employees and the existing limited partnership interests in Newmark Holdings held by BGC employees were/are exchanged/redeemed, the related capital is contributed to and from Cantor, respectively. Prior to the Corporate Conversion, all BGC Holdings units held by employees of Newmark were redeemed or exchanged, in each case, for shares of BGC Class A common stock. BGC Credit Agreement On March 19, 2018, BGC Partners entered into the BGC Credit Agreement with Cantor. The BGC Credit Agreement provides for each party and certain of its subsidiaries to issue loans to the other party or any of its subsidiaries at the lender’s discretion in an aggregate principal amount up to $250.0 million outstanding at any time. The BGC Credit Agreement replaced the previous Credit Facility between BGC Partners and an affiliate of Cantor. On August 6, 2018, BGC Partners entered into an amendment to the BGC Credit Agreement, which increased the aggregate principal amount that could be loaned to the other party or any of its subsidiaries from $250.0 million to $400.0 million that can be outstanding at any time. On October 6, 2023, BGC Group assumed all rights and obligations of BGC Partners under the BGC Credit Agreement. On March 8, 2024, the Company entered into a second amendment to the BGC Credit Agreement. The second amendment provides that the parties and their respective subsidiaries may borrow up to an aggregate principal amount of $400.0 million from each other from time to time at an interest rate equal to 25 basis points less than the interest rate on the respective borrower’s short-term borrowing rate then in effect. Previously, the parties and their respective subsidiaries could borrow up to an aggregate principal amount of $400.0 million from each other from time to time at an interest rate equal to 1.00% higher than the higher of Cantor’s or BGC’s short-term borrowing rate then in effect. The BGC Credit Agreement will mature on the earlier to occur of (a) if prior written notice of non-extension is given by a lending party to a borrowing party at least six months in advance thereof, March 19, 2025, and if such notice is not timely given, then the maturity date of the BGC Credit Agreement will continue to be extended for additional successive one-year periods unless prior written notice of non-extension is given by a lending party to a borrowing party at least six months in advance of such renewal date and (b) the termination of the BGC Credit Agreement by either party pursuant to its terms. On June 7, 2024, the Company entered into a third amendment to the BGC Credit Agreement. The third amendment provides that the parties and their respective subsidiaries may borrow up to an aggregate principal amount of $400.0 million pursuant to a new category of “FICC-GSD Margin Loans.” FICC-GSD Margin Loans will bear interest at a rate equal to the overnight interest rate actually earned by the borrower or its affiliates on borrowings under the applicable FICC-GSD Margin Loan that are posted to clearinghouses or kept available for posting at clearinghouses. The maturity date in respect of FICC-GSD Margin Loans will not exceed 35 days from the date the loan is made, unless otherwise agreed by the parties. All other terms of the BGC Credit Agreement, including terms applicable to loans made thereunder that are not FICC-GSD Margin Loans, remain the same. On March 12, 2024, the Company borrowed $275.0 million from Cantor under the BGC Credit Agreement and used the proceeds from such borrowing to repay the principal and interest related to all of the $240.0 million of borrowings outstanding under the Revolving Credit Agreement. As of March 31, 2024, there were $275.0 million of borrowings by the Company outstanding under the BGC Credit Agreement. As of March, 31, 2024, the interest rate on this facility was 6.92%. On April 1, 2024, the Company repaid in full the $275.0 million of principal and interest amounts outstanding from the BGC Credit Agreement. As of June 30, 2024, there were no borrowings by the Company outstanding under the BGC Credit Agreement. As of December 31, 2023, there were no borrowings by BGC Partners or Cantor outstanding under this agreement. The Company did not record any interest expense related to the BGC Credit Agreement for the three months ended June 30, 2024. The Company recorded interest expense related to the BGC Credit Agreement of $1.1 million for the six months ended June 30, 2024. The Company did not record any interest expense related to the BGC Credit Agreement for the three and six months ended June 30, 2023. On June 10, 2024, Cantor borrowed $180.0 million from the Company under the BGC Credit Agreement. As of June 30, 2024, there were $180.0 million of borrowings by Cantor outstanding under the BGC Credit Agreement. These borrowings are not considered FICC-GSD Margin Loans. As of June 30, 2024, the interest rate on this facility was 7.18%. The Company recorded interest income related to the BGC Credit Agreement of $0.8 million for the three and six months ended June 30, 2024. The Company did not record any interest income related to the BGC Credit Agreement for the three and six months ended June 30, 2023. Other Agreements with Cantor The Company is authorized to enter into short-term arrangements with Cantor to cover any delivery failures in connection with U.S. Treasury securities transactions. As of June 30, 2024, there were $6.6 million in Repurchase Agreements between the Company and Cantor, which matured on July 1, 2024. As of December 31, 2023, there were no Repurchase Agreements between the Company and Cantor. As part of the Company’s cash management process, the Company may enter into Reverse Repurchase Agreements and other short-term investments with Cantor. As of both June 30, 2024 and December 31, 2023, there were no Reverse Repurchase Agreements between the Company and Cantor. To more effectively manage the Company’s exposure to changes in FX rates, the Company and Cantor have agreed to jointly manage the exposure. As a result, the Company is authorized to divide the quarterly allocation of any profit or loss relating to FX currency hedging between the Company and Cantor. The amount allocated to each party is based on the total net exposure for the Company and Cantor. The ratio of gross exposures of the Company and Cantor is utilized to determine the shares of profit or loss allocated to each for the period. For the three months ended June 30, 2024 and 2023, the Company recognized its share of FX loss of $1.4 million and FX gain of $3.5 million, respectively. For the six months ended June 30, 2024 and 2023, the Company recognized its share of FX loss of $1.4 million and FX gain of $4.9 million, respectively. These gains are included as part of “Other expenses” in the Company’s unaudited Condensed Consolidated Statements of Operations. Pursuant to the separation agreement relating to the Company’s acquisition of certain BGC businesses from Cantor in 2008, Cantor has a right, subject to certain conditions, to be the Company’s customer and to pay the lowest commissions paid by any other customer, whether by volume, dollar or other applicable measure. In addition, Cantor has an unlimited right to internally use the Company’s market data without any cost but Cantor does not have the right to furnish such data to any third party. Any future related-party transactions or arrangements between the Company and Cantor are subject to prior approval by the Audit Committee. During the three months ended June 30, 2024 and 2023, the Company recorded revenues from Cantor entities of $0.1 million and nil, respectively, related to commissions paid to the Company by Cantor. During the six months ended June 30, 2024 and 2023, the Company recorded revenues from Cantor entities of $0.2 million and nil, respectively, related to commissions paid to the Company by Cantor. These revenues are included as part of “Commissions” in the Company’s unaudited Condensed Consolidated Statements of Operations. The Company and Cantor are authorized to utilize each other’s brokers to provide brokerage services for securities not brokered by such entity, so long as, unless otherwise agreed, such brokerage services were provided in the ordinary course and on terms no less favorable to the receiving party than such services are provided to typical third-party customers. In August 2013, the Audit Committee authorized the Company to invest up to $350.0 million in an asset-backed commercial paper program for which certain Cantor entities serve as placement agent and referral agent. The program issues short-term notes to money market investors and is expected to be used by the Company from time to time as a liquidity management vehicle. The notes are backed by assets of highly rated banks. The Company is entitled to invest in the program so long as the program meets investment policy guidelines, including policies related to ratings. Cantor will earn a spread between the rate it receives from the short-term note issuer and the rate it pays to the Company on any investments in this program. This spread will be no greater than the spread earned by Cantor for placement of any other commercial paper note in the program. During the three and six months ended June 30, 2024 and as of the year ended December 31, 2023, the Company did not have any investments in the program. On June 5, 2015, BGC Partners entered into the Exchange Agreement with Cantor providing Cantor, CFGM and other Cantor affiliates entitled to hold BGC Partners Class B common stock the right to exchange BGC Partners Class A common stock into shares of BGC Partners Class B common stock from time to time, on a one-to-one basis, subject to adjustment, up to an aggregate of 34.6 million shares of BGC Class A common stock then owned or subsequently acquired by such Cantor entities for up to an aggregate of 34.6 million shares of BGC Class B common stock. The Exchange Agreement enabled the Cantor entities to acquire the same number of shares of BGC Class B common stock that they were entitled to acquire, prior to the Corporate Conversion, without having to exchange Cantor units in BGC Holdings. In connection with the Corporate Conversion on July 1, 2023, the Exchange Agreement with Cantor terminated based on its own terms. On July 1, 2023, as a result of the Corporate Conversion, the total outstanding 64.0 million Cantor units were converted into shares of BGC Class B common stock, subject to the terms and conditions of the Corporate Conversion Agreement, provided that a portion of the 64.0 million shares of BGC Class B common stock issued to Cantor will convert into BGC Class A common stock in the event that BGC Group does not issue at least $75.0 million in shares of BGC Class A or B common stock in connection with certain acquisition transactions prior to the seventh anniversary of the Corporate Conversion. As of June 30, 2024, Cantor and CFGM did not own any shares of BGC Class A common stock. As of June 30, 2024, Cantor and CFGM owned 93.3 million and 3.0 million shares of BGC Class B common stock, respectively. Receivables from and Payables to Related Broker-Dealers Amounts due to or from Cantor and Freedom, one of the Company’s equity method investments, are for transactional revenues under a technology and services agreement with Freedom, as well as for open derivative contracts. These are included as part of “Receivables from broker-dealers, clearing organizations, customers and related broker-dealers” or “Payables to broker-dealers, clearing organizations, customers and related broker-dealers” in the Company’s unaudited Condensed Consolidated Statements of Financial Condition. As of June 30, 2024 and December 31, 2023, the Company had receivables from Freedom of $2.1 million and $1.4 million, respectively. As of June 30, 2024 and December 31, 2023, the Company had $3.9 million and $2.7 million, respectively, in receivables from Cantor related to open derivative contracts. As of June 30, 2024 and December 31, 2023, the Company had $1.2 million and $4.9 million, respectively, in payables to Cantor related to open derivative contracts. As of June 30, 2024, the Company had $9.3 million in payables to Cantor related to fails and pending trades. As of December 31, 2023, the Company had $0.8 million in receivables from Cantor related to fails and pending trades. Loans, Forgivable Loans and Other Receivables from Employees and Partners, Net The Company has entered into various agreements with certain BGC employees and, prior to the Corporate Conversion, partners whereby these individuals receive loans which may be either wholly or in part repaid from the distributions that the individuals receive on some or all of their LPUs in BGC Holdings and Newmark Holdings, prior to the Corporate Conversion, and by distributions that the individuals receive on some or all of their LPUs in Newmark Holdings and any dividends paid on participating RSUs and restricted stock awards, subsequent to the Corporate Conversion. Certain of these loans also may be either wholly or in part repaid from the proceeds of the sale of the BGC employees’ shares of BGC Class A common stock. In addition, certain loans may be forgiven over a period of time. The forgivable portion of these loans is recognized as compensation expense over the life of the loan. From time to time, the Company may also enter into agreements with employees to grant bonus and salary advances or other types of loans. These advances and loans are repayable in the timeframes outlined in the underlying agreements. As of June 30, 2024 and December 31, 2023, the aggregate balance of employee loans, net, was $394.5 million and $367.8 million, respectively, and is included as “Loans, forgivable loans and other receivables from employees and partners, net” in the Company’s unaudited Condensed Consolidated Statements of Financial Condition. Compensation expense for the above-mentioned employee loans for the three months ended June 30, 2024 and 2023 was $14.6 million and $11.6 million, respectively. Compensation expense for the above-mentioned employee loans for the six months ended June 30, 2024 and 2023 was $29.4 million and $25.5 million, respectively. The compensation expense related to these employee loans is included as part of “Compensation and employee benefits” in the Company’s unaudited Condensed Consolidated Statements of Operations. Interest income on the above-mentioned employee loans for the three months ended June 30, 2024 and 2023 was $2.6 million and $2.1 million, respectively. Interest income on the above-mentioned employee loans for the six months ended June 30, 2024 and 2023 was $5.8 million and $3.9 million, respectively. The interest income related to these employee loans is included as part of “Interest and dividend income” in the Company’s unaudited Condensed Consolidated Statements of Operations. CEO Program and Other Transactions with CF&Co As discussed in Note 7—“Stock Transactions and Unit Redemptions,” BGC Partners entered into the August 2022 Sales Agreement, and after the Corporate Conversion, BGC Group entered into the July 2023 Sales Agreement with CF&Co as the Company’s sales agent under the CEO Program. During both the three and six months ended June 30, 2024 and 2023, the Company did not sell any shares of Class A common stock under its CEO Program. For both the three and six months ended June 30, 2024 and 2023, the Company was not charged for services provided by CF&Co related to the CEO Program with CF&Co. The net proceeds of any shares sold would be included as part of “Additional paid-in capital” in the Company’s unaudited Condensed Consolidated Statements of Financial Condition. The Company has engaged CF&Co and its affiliates to act as financial advisors in connection with one or more third-party business combination transactions as requested by the Company on behalf of its affiliates from time to time on specified terms, conditions and fees. The Company may pay finders’, investment banking or financial advisory fees to broker-dealers, including, but not limited to, CF&Co and its affiliates, from time to time in connection with certain business combination transactions, and, in some cases, the Company may issue shares of BGC Class A common stock in full or partial payment of such fees. On October 3, 2014, management was granted approval by the Board and Audit Committee to enter into stock loan transactions with CF&Co utilizing equities securities. Such stock loan transactions will bear market terms and rates. As of June 30, 2024, and December 31, 2023, the Company did not have any Securities loaned transactions with CF&Co. On July 24, 2018, the Company issued an aggregate of $450.0 million principal amount of BGC Partners 5.375% Senior Notes. The BGC Partners 5.375% Senior Notes were general senior unsecured obligations of the Company. In connection with this issuance of the BGC Partners 5.375% Senior Notes, the Company recorded approximately $0.3 million in underwriting fees payable to CF&Co. The Company also paid CF&Co an advisory fee of $0.2 million in connection with the issuance. These fees were recorded as a direct reduction from the Notes payable and other borrowings in the Company’s unaudited Condensed Consolidated Statements of Financial Condition and were amortized as interest expense over the term of the notes. The BGC Partners 5.375% Senior Notes matured on July 24, 2023. On September 27, 2019, the Company issued an aggregate of $300.0 million principal amount of BGC Partners 3.750% Senior Notes. In connection with this issuance of BGC Partners 3.750% Senior Notes, the Company recorded $0.2 million in underwriting fees payable to CF&Co. These fees were recorded as a direct reduction from the Notes payable and other borrowings in the Company’s unaudited Condensed Consolidated Statements of Financial Condition and are amortized as interest expense over the term of the notes. On June 11, 2020, BGC Partners’ Board of Directors and its Audit Committee authorized a debt repurchase program for the repurchase by the Company of up to $50.0 million of Company Debt Securities, and on July 1, 2023, BGC Group’s Board of Directors and its Audit Committee authorized a debt repurchase program for the repurchase by the Company of up to $50.0 million of Company Debt Securities. Repurchases of Company Debt Securities, if any, are expected to reduce future cash interest payments, as well as future amounts due at maturity or upon redemption. Under the authorization, the Company may make repurchases of Company Debt Securities for cash from time to time in the open market or in privately negotiated transactions upon such terms and at such prices as management may determine. Additionally, the Company is authorized to make any such repurchases of Company Debt Securities through CF&Co (or its affiliates), in its capacity as agent or principal, or such other broker-dealers as management shall determine to utilize from time to time, and such repurchases shall be subject to brokerage commissions which are no higher than standard market commission rates. As of June 30, 2024, the Company had $50.0 million remaining under its debt repurchase authorization. On July 10, 2020, the Company issued an aggregate of $300.0 million principal amount of the BGC Partners 4.375% Senior Notes. In connection with this issuance of BGC Partners 4.375% Senior Notes, the Company recorded $0.2 million in underwriting fees payable to CF&Co. These fees were recorded as a direct reduction from the Notes payable and other borrowings in the Company’s unaudited Condensed Consolidated Statements of Financial Condition and are amortized as interest expense over the term of the notes. Cantor purchased $14.5 million of such senior notes and tendered such notes in the Exchange Offer in exchange for an equivalent amount of BGC Group 4.375% Senior Notes. Cantor holds such BGC Group 4.375% Senior Notes as of June 30, 2024. On May 25, 2023, the Company issued an aggregate of $350.0 million principal amount of the BGC Partners 8.000% Senior Notes. In connection with this issuance of BGC Partners 8.000% Senior Notes, the Company paid $0.2 million in underwriting fees to CF&Co. These fees were recorded as a direct reduction from the Notes payable and other borrowings in the Company’s Condensed Consolidated Statements of Financial Condition and are amortized as interest expense over the term of the notes. On June 10, 2024, the Company issued an aggregate of $500.0 million principal amount of the BGC Group 6.600% Senior Notes. In connection with this issuance of BGC Group 6.600% Senior Notes, the Company paid $0.4 million in underwriting fees to CF&Co. These fees were recorded as a direct reduction from the Notes payable and other borrowings in the Company’s unaudited Condensed Consolidated Statements of Financial Condition and are amortized as interest expense over the term of the notes. In connection with the issuance of the BGC Group 6.600% Senior Notes, on June 10, 2024, we entered into a Registration Rights Agreement with the initial purchasers in the offering of the BGC Group 6.600% Senio

Investments

Investments	6 Months Ended
	Jun. 30, 2024
Equity Method Investments and Joint Ventures [Abstract]
Investments	Investments Equity Method Investments and Investments Carried Under the Measurement Alternative (dollar amounts in thousands) Percent Ownership 1 June 30, December 31, 2023 Advanced Markets Holdings 25% $ 4,244 $ 4,481 China Credit BGC Money Broking Company Limited 33% 25,608 21,277 Freedom International Brokerage 45% 8,810 9,507 Other 2,100 2,857 Equity method investments $ 40,762 $ 38,122 Investments carried under measurement alternative 192 192 Total equity method and investments carried under measurement alternative $ 40,954 $ 38,314 _______________________________________ 1 Represents the Company’s voting interest in the equity method investment as of June 30, 2024 and December 31, 2023. The carrying value of the Company’s equity method investments was $40.8 million as of June 30, 2024 and $38.1 million as of December 31, 2023, and is included in “Investments” in the Company’s unaudited Condensed Consolidated Statements of Financial Condition. The Company recognized gains of $2.7 million and $2.4 million related to its equity method investments for the three months ended June 30, 2024 and 2023, respectively. The Company recognized gains of $4.5 million related to its equity method investments for both the six months ended June 30, 2024 and 2023. The Company’s share of the net gains or losses is reflected in “Gains (losses) on equity method investments” in the Company’s unaudited Condensed Consolidated Statements of Operations. For the three and six months ended June 30, 2024 and 2023, the Company did not record impairment charges related to existing equity method investments. The Company did not sell any equity method investments during the three and six months ended June 30, 2024 and 2023. See Note 13—“Related Party Transactions,” for information regarding related party transactions with unconsolidated entities included in the Company’s unaudited Condensed Consolidated Financial Statements. Investments Carried Under Measurement Alternative The Company has acquired equity investments for which it did not have the ability to exert significant influence over operating and financial policies of the investees. These investments are accounted for using the measurement alternative in accordance with the guidance on recognition and measurement. The carrying value of these investments as of both June 30, 2024 and December 31, 2023 was $0.2 million, and they are included in “Investments” in the Company’s unaudited Condensed Consolidated Statements of Financial Condition. The Company did not recognize any gains, losses, or impairments relating to investments carried under the measurement alternative for both the three and six months ended June 30, 2024 and 2023. In addition, the Company owns membership shares, which are included in “Other assets” in the Company’s unaudited Condensed Consolidated Statements of Financial Condition as of both June 30, 2024 and December 31, 2023. These equity investments are accounted for using the measurement alternative in accordance with the guidance on recognition and measurement. These investments, which do not have a readily determinable fair value, are initially recognized at cost and remeasured through earnings when there is an observable transaction involving the same or similar investment of the same issuer, or due to an impairment. The Company recorded nil of unrealized gains and nil of unrealized losses to reflect observable transactions for these shares during the three months ended both June 30, 2023 and 2024. The Company recorded $36.7 million of unrealized gains and $1.3 million of unrealized losses to reflect observable transactions for these shares during the six months ended June 30, 2024 and 2023, respectively. The unrealized gains (losses) are reflected in “Other income (loss)” in the Company’s unaudited Condensed Consolidated Statements of Operations. Investments in VIEs Unconsolidated VIE One of the Company’s equity method investments is considered a VIE, as defined under the accounting guidance for consolidation. The Company is not considered the primary beneficiary of and therefore does not consolidate the VIE. The Company’s involvement with the VIE is in the form of direct equity interest. The Company’s maximum exposure to loss with respect to the VIE is its investment. The following table sets forth the Company’s investment in its unconsolidated VIE and the maximum exposure to loss (in thousands): June 30, 2024 December 31, 2023 Investment Maximum Exposure to Loss Investment Maximum Exposure to Loss Variable interest entity $ 2,100 $ 2,100 $ 2,857 $ 2,857 Consolidated VIE The Company also invested in a limited liability company that is focused on developing a proprietary trading technology. The limited liability company is a VIE and it was determined that the Company is the primary beneficiary of this VIE because the Company was the provider of the majority of this VIE’s start-up capital and has the power to direct the activities of this VIE that most significantly impact its economic performance, primarily through its voting percentage and consent rights on the activities that would most significantly influence the entity. The consolidated VIE had total assets of $9.0 million and $9.5 million as of June 30, 2024 and December 31, 2023, respectively, which primarily consisted of clearing margin. There were no material restrictions on the consolidated VIE’s assets. The consolidated VIE had total liabilities of $1.0 million and $1.2 million as of June 30, 2024 and December 31, 2023, respectively. The Company’s exposure to economic loss on this VIE was $5.5 million and $5.7 million as of June 30, 2024 and December 31, 2023, respectively.

Fixed Assets, Net

Fixed Assets, Net	6 Months Ended
	Jun. 30, 2024
Property, Plant and Equipment [Abstract]
Fixed Assets, Net	Fixed Assets, Net Fixed assets, net consisted of the following (in thousands): June 30, 2024 December 31, 2023 Computer and communications equipment $ 107,317 $ 103,621 Software, including software development costs 382,472 360,047 Leasehold improvements and other fixed assets 100,024 99,034 589,813 562,702 Less: accumulated depreciation and amortization (406,926) (384,402) Fixed assets, net $ 182,887 $ 178,300 Depreciation expense was $5.3 million and $5.1 million for the three months ended June 30, 2024 and 2023, respectively. Depreciation expense was $10.7 million and $10.6 million for the six months ended June 30, 2024 and 2023, respectively. Depreciation is included as part of “Occupancy and equipment” in the Company’s unaudited Condensed Consolidated Statements of Operations. The Company has $6.1 million and $5.9 million of asset retirement obligations related to certain of its leasehold improvements as of June 30, 2024 and December 31, 2023, respectively. The associated asset retirement cost is capitalized as part of the carrying amount of the long-lived asset. The liability is discounted and accretion expense is recognized using the credit adjusted risk-free interest rate in effect when the liability was initially recognized. For the three months ended June 30, 2024 and 2023, software development costs totaling $8.4 million and $12.3 million, respectively, were capitalized. For the six months ended June 30, 2024 and 2023, software development costs totaling $20.4 million and $24.5 million, respectively, were capitalized. Amortization of software development costs totaled $10.2 million and $9.9 million for the three months ended June 30, 2024 and 2023, respectively. Amortization of software development costs totaled $20.6 million and $19.8 million for the six months ended June 30, 2024 and 2023, respectively. Amortization of software development costs is included as part of “Occupancy and equipment” in the Company’s unaudited Condensed Consolidated Statements of Operations. Impairment charges of $0.1 million and $1.0 million were recorded for the three months ended June 30, 2024 and 2023, respectively, related to the evaluation of capitalized software projects for future benefit and for fixed assets no longer in service. Impairment charges of $0.3 million and $2.8 million were recorded for the six months ended June 30, 2024 and 2023, respectively, related to the evaluation of capitalized software projects for future benefit and for fixed assets no longer in service. Impairment charges related to capitalized software and fixed assets are reflected in “Occupancy and equipment” in the Company’s unaudited Condensed Consolidated Statements of Operations.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets, Net	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets, Net	Goodwill and Other Intangible Assets, Net The changes in the carrying amount of goodwill were as follows (in thousands): Goodwill Balance at December 31, 2023 $ 506,344 Measurement period adjustments 221 Cumulative translation adjustment (1,139) Balance at June 30, 2024 $ 505,426 For additional information on Goodwill, see Note 4—“Acquisitions.” Goodwill is not amortized and is reviewed annually for impairment or more frequently if impairment indicators arise, in accordance with U.S. GAAP guidance on Goodwill and Other Intangible Assets. Other intangible assets consisted of the following (in thousands, except weighted-average remaining life): June 30, 2024 Gross Accumulated Net Carrying Weighted- Definite life intangible assets: Customer-related $ 210,773 $ 105,289 $ 105,484 9.3 Technology 23,997 23,997 — N/A Noncompete agreements 20,966 20,002 964 2.1 Patents 12,334 10,893 1,441 2.9 All other 19,835 8,155 11,680 10.8 Total definite life intangible assets 287,905 168,336 119,569 9.3 Indefinite life intangible assets: Trade names 79,570 — 79,570 N/A Licenses 2,230 — 2,230 N/A Domain name 454 — 454 N/A Total indefinite life intangible assets 82,254 — 82,254 N/A Total $ 370,159 $ 168,336 $ 201,823 December 31, 2023 Gross Accumulated Net Carrying Weighted- Definite life intangible assets: Customer-related $ 210,655 $ 97,401 $ 113,254 9.7 Technology 23,997 23,997 — N/A Noncompete agreements 20,892 19,322 1,570 2.2 Patents 11,950 10,703 1,247 2.9 All other 20,325 7,364 12,961 10.3 Total definite life intangible assets 287,819 158,787 129,032 9.6 Indefinite life intangible assets: Trade names 79,570 — 79,570 N/A Licenses 2,229 — 2,229 N/A Domain name 454 — 454 N/A Total indefinite life intangible assets 82,253 — 82,253 N/A Total $ 370,072 $ 158,787 $ 211,285 Intangible amortization expense was $4.7 million and $4.2 million for the three months ended June 30, 2024 and 2023, respectively. Intangible amortization expense was $9.6 million and $7.9 million for the six months ended June 30, 2024 and 2023, respectively. Intangible amortization is included as part of “Other expenses” in the Company’s unaudited Condensed Consolidated Statements of Operations. There were no impairment charges for the Company’s definite and indefinite life intangibles for the three and six months ended June 30, 2024 and 2023. The estimated future amortization expense of definite life intangible assets as of June 30, 2024 is as follows (in millions): 2024 $ 9.0 2025 17.4 2026 17.0 2027 12.7 2028 11.9 2029 and thereafter 51.6 Total $ 119.6

Notes Payable and Other Borrowi

Notes Payable and Other Borrowings	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Notes Payable and Other Borrowings	Notes Payable and Other Borrowings Notes payable and other borrowings consisted of the following (in thousands): June 30, 2024 December 31, 2023 Unsecured senior revolving credit agreement $ — $ 239,180 BGC Group 3.750% Senior Notes due October 1, 2024 255,306 254,814 BGC Partners 3.750% Senior Notes due October 1, 2024 44,444 44,383 BGC Group 4.375% Senior Notes due December 15, 2025 287,096 286,729 BGC Partners 4.375% Senior Notes due December 15, 2025 11,812 11,800 BGC Group 8.000% Senior Notes due May 25, 2028 344,236 343,852 BGC Partners 8.000% Senior Notes due May 25, 2028 2,751 2,748 BGC Group 6.600% Senior Notes due June 10, 2029 495,044 — Total Notes payable and other borrowings 1, 2 $ 1,440,689 $ 1,183,506 __________________________ 1 The Company was in compliance with all debt covenants, as applicable, as of June 30, 2024 and December 31, 2023. 2 Presented net of deferred financing costs, which are recorded in the Company’s unaudited Condensed Consolidated Statements of Financial Condition as a direct reduction of the Notes payable and other borrowings. As of June 30, 2024 and December 31, 2023, total deferred financing costs were $9.3 million and $6.5 million, respectively. Exchange Offer and Market-Making Registration Statement On October 6, 2023, BGC Group completed the Exchange Offer, in which BGC Group offered to exchange the BGC Partners Notes for new notes to be issued by BGC Group with the same respective interest rates, maturity dates and substantially identical terms as the tendered notes, and cash. In connection with the Exchange Offer, and on behalf of BGC Partners, BGC Group also solicited consents from (i) holders of the BGC Partners Notes to certain proposed amendments to the indenture and supplemental indentures pursuant to which such BGC Partners Notes were issued to, among other things, eliminate certain affirmative and restrictive covenants and events of default, including the “Change of Control” provisions described below, which had applied to each series of the BGC Partners Notes, and (ii) holders of the BGC Partners 8.000% Senior Notes to amend the registration rights agreement relating thereto to terminate such agreement. As of September 19, 2023, the requisite note holder consents were received to adopt the proposed indenture amendments and terminate the registration rights agreement relating to the BGC Partners 8.000% Senior Notes. In connection with the October 6, 2023 closing of the Exchange Offer, (i) $255.5 million aggregate principal amount of BGC Partners 3.750% Senior Notes were exchanged for BGC Group 3.750% Senior Notes and subsequently cancelled, $288.2 million aggregate principal amount of BGC Partners 4.375% Senior Notes were exchanged for BGC Group 4.375% Senior Notes and subsequently cancelled, $347.2 million aggregate principal amount of BGC Partners 8.000% Senior Notes were exchanged for BGC Group 8.000% Senior Notes and subsequently cancelled, and equivalent aggregate principal amounts of BGC Group 3.750% Senior Notes, BGC Group 4.375% Senior Notes and BGC Group 8.000% Senior Notes, respectively, were issued; (ii) the indenture and supplemental indentures relating to the BGC Partners 3.750% Senior Notes, the BGC Partners 4.375% Senior Notes and the BGC Partners 8.000% Senior Notes were amended as proposed; and (iii) the registration rights agreement relating to the BGC Partners 8.000% Senior Notes was terminated. Issuance costs related to the Exchange Offer of $0.9 million are amortized as interest expense and the carrying value of the BGC Group 3.750% Senior Notes, the BGC Group 4.375% Senior Notes, and the BGC Group 8.000% Senior Notes will accrete up to the face amount over the term of the notes. On October 19, 2023, the Company filed a resale registration statement on Form S-3 pursuant to which CF&Co may make offers and sales of the BGC Group 3.750% Senior Notes, the BGC Group 4.375% Senior Notes and the BGC Group 8.000% Senior Notes in connection with ongoing market-making transactions which may occur from time to time. Such market-making transactions in these securities may occur in the open market or may be privately negotiated at prevailing market prices at a time of resale or at related or negotiated prices. Neither CF&Co, nor any other of the Company’s affiliates, has any obligation to make a market for the Company’s securities, and CF&Co or any such other affiliate may discontinue market-making activities at any time without notice. Unsecured Senior Revolving Credit Agreement On November 28, 2018, BGC Partners entered into the Revolving Credit Agreement with Bank of America, N.A., as administrative agent, and a syndicate of lenders, which replaced the previously existing committed unsecured senior revolving credit agreement. The maturity date of the Revolving Credit Agreement was November 28, 2020, and the maximum revolving loan balance was $350.0 million. Borrowings under this Revolving Credit Agreement bore interest at either LIBOR or a defined base rate plus additional margin. On December 11, 2019, BGC Partners entered into an amendment to the Revolving Credit Agreement. Pursuant to the amendment, the maturity date was extended to February 26, 2021. On February 26, 2020, BGC Partners entered into a second amendment to the Revolving Credit Agreement, pursuant to which the maturity date was extended by two years to February 26, 2023. There was no change to the interest rate or the maximum revolving loan balance. On March 10, 2022, BGC Partners entered into an amendment and restatement of the senior unsecured revolving credit agreement, pursuant to which the maturity date was extended to March 10, 2025, the size of the credit facility was increased to $375.0 million, and borrowings under this agreement bear interest based on either SOFR or a defined base rate plus additional margin. On October 6, 2023, the Revolving Credit Agreement was amended to exclude the BGC Partners Notes from the restrictive covenant in the Revolving Credit Agreement limiting the indebtedness of subsidiaries, and BGC Group assumed all of the rights and obligations of BGC Partners under the Revolving Credit Agreement and has become the borrower thereunder. On April 26, 2024, the Company amended and restated the Revolving Credit Agreement to, among other things, extend the maturity date to April 26, 2027, and provide the Company with the right to increase the facility up to $475.0 million, subject to certain conditions being met. The borrowing rates and financial covenants under the amended and restated Revolving Credit Agreement are substantially unchanged. As of June 30, 2024, there were no borrowings outstanding under the Revolving Credit Agreement. As of December 31, 2023, there were $239.2 million of borrowings outstanding, net of deferred financing costs of $0.8 million under the Revolving Credit Agreement. The average interest rate on the outstanding borrowings for the three and six months ended June 30, 2024 was 7.17% and 7.18%, respectively. The average interest rate on the outstanding borrowings for the three and six months ended June 30, 2023 was 6.79% and 6.64%, respectively. BGC Group recorded $4.2 million of interest expense related to the Revolving Credit Agreement for the three months ended June 30, 2024. BGC Group recorded interest expense related to the Revolving Credit Agreement of $7.9 million for the six months ended June 30, 2024. BGC Partners recorded interest expense related to the Revolving Credit Agreement of $1.6 million for the three months ended June 30, 2023. BGC Partners recorded interest expense related to the Revolving Credit Agreement of $2.8 million for the six months ended June 30, 2023. Senior Notes The BGC Group Notes and BGC Partners Notes are recorded at amortized cost. The carrying amounts and estimated fair values of the BGC Group Notes and BGC Partners Notes were as follows (in thousands): June 30, 2024 December 31, 2023 Carrying Fair Carrying Fair BGC Group 3.750% Senior Notes due October 1, 2024 $ 255,306 $ 253,717 $ 254,814 $ 249,722 BGC Partners 3.750% Senior Notes due October 1, 2024 44,444 44,159 44,383 43,464 BGC Group 4.375% Senior Notes due December 15, 2025 287,096 281,295 286,729 276,569 BGC Partners 4.375% Senior Notes due December 15, 2025 11,812 11,565 11,800 11,371 BGC Group 8.000% Senior Notes due May 25, 2028 344,236 372,345 343,852 363,274 BGC Partners 8.000% Senior Notes due May 25, 2028 2,751 2,974 2,748 2,901 BGC Group 6.600% Senior Notes due June 10, 2029 495,044 496,940 — — Total $ 1,440,689 $ 1,462,995 $ 944,326 $ 947,301 The fair values of the BGC Group Notes and BGC Partners Notes were determined using observable market prices as these securities are traded, and based on whether they are deemed to be actively traded, the BGC Partners 5.375% Senior Notes, the BGC Group 3.750% Senior Notes, the BGC Partners 3.750% Senior Notes, the BGC Group 4.375% Senior Notes, the BGC Partners 4.375% Senior Notes, the BGC Group 8.000% Senior Notes, the BGC Partners 8.000% Senior Notes, and the BGC Group 6.600% Senior Notes are considered Level 2 within the fair value hierarchy. 5.375% Senior Notes On July 24, 2018, BGC Partners issued an aggregate of $450.0 million principal amount of BGC Partners 5.375% Senior Notes. The BGC Partners 5.375% Senior Notes were general senior unsecured obligations of BGC Partners. The BGC Partners 5.375% Senior Notes bore interest at a rate of 5.375% per year, payable in cash on January 24 and July 24 of each year, commencing January 24, 2019. The BGC Partners 5.375% Senior Notes matured on July 24, 2023. Prior to maturity, BGC Partners was able to redeem some or all of the BGC Partners 5.375% Senior Notes at any time or from time to time for cash at certain “make-whole” redemption prices (as set forth in the supplemental indenture related to the BGC Partners 5.375% Senior Notes). If a “Change of Control Triggering Event” (as defined in the supplemental indenture governing the BGC Partners 5.375% Senior Notes) occurred, holders could have required BGC Partners to purchase all or a portion of their notes for cash at a price equal to 101% of the principal amount of the notes to be purchased plus any accrued and unpaid interest to, but excluding, the purchase date. The initial carrying value of the BGC Partners 5.375% Senior Notes was $444.2 million, net of discount and debt issuance costs of $5.8 million. The issuance costs were amortized as interest expense and the carrying value of the BGC Partners 5.375% Senior Notes accreted up to the face amount over the term of the notes. On July 24, 2023, BGC Partners repaid the principal plus accrued interest on the BGC Partners 5.375% Senior Notes. BGC Partners recorded interest expense related to the BGC Partners 5.375% Senior Notes of $6.4 million for the three months ended June 30, 2023. BGC Partners recorded interest expense related to the BGC Partners 5.375% Senior Notes of $12.8 million for the six months ended June 30, 2023. 3.750% Senior Notes On September 27, 2019, BGC Partners issued an aggregate of $300.0 million principal amount of BGC Partners 3.750% Senior Notes. The BGC Partners 3.750% Senior Notes are general unsecured obligations of BGC Partners. The BGC Partners 3.750% Senior Notes bear interest at a rate of 3.750% per year, payable in cash on April 1 and October 1 of each year, commencing April 1, 2020. The BGC Partners 3.750% Senior Notes will mature on October 1, 2024. BGC Partners may redeem some or all of the BGC Partners 3.750% Senior Notes at any time or from time to time for cash at certain “make-whole” redemption prices (as set forth in the supplemental indenture governing the BGC Partners 3.750% Senior Notes). The initial carrying value of the BGC Partners 3.750% Senior Notes was $296.1 million, net of discount and debt issuance costs of $3.9 million. The issuance costs are amortized as interest expense and the carrying value of the BGC Partners 3.750% Senior Notes will accrete up to the face amount over the term of the notes. As discussed above, on October 6, 2023, pursuant to the Exchange Offer, $255.5 million aggregate principal amount of BGC Partners 3.750% Senior Notes were exchanged for BGC Group 3.750% Senior Notes and subsequently cancelled, and certain amendments to the indenture and supplemental indenture governing the BGC Partners 3.750% Senior Notes became effective. The BGC Group 3.750% Senior Notes will mature on October 1, 2024 and bear interest at a rate of 3.750% per year, payable in cash on April 1 and October 1 of each year, commencing April 1, 2024. BGC Group may redeem some or all of the BGC Group 3.750% Senior Notes at any time or from time to time for cash at certain “make-whole” redemption prices (as set forth in the supplemental indenture related to the BGC Group 3.750% Senior Notes). If a “Change of Control Triggering Event” (as defined in the supplemental indenture related to the BGC Group 3.750% Senior Notes) occurs, holders may require BGC Group to purchase all or a portion of their notes for cash at a price equal to 101% of the principal amount of the notes to be purchased plus any accrued and unpaid interest to, but excluding, the purchase date. Following the closing of the Exchange Offer, $44.5 million aggregate principal amount of BGC Partners 3.750% Senior Notes remained outstanding. The carrying value of the BGC Group 3.750% Senior Notes was $255.3 million as of June 30, 2024. BGC Group recorded interest expense related to the BGC Group 3.750% Senior Notes of $2.6 million for the three months ended June 30, 2024. BGC Group recorded interest expense related to the BGC Group 3.750% Senior Notes of $5.3 million for the six months ended June 30, 2024. BGC Group did not record interest expense related to the BGC Group 3.750% Senior Notes for the three and six months ended June 30, 2023. The carrying value of the BGC Partners 3.750% Senior Notes was $44.4 million as of June 30, 2024. BGC Partners recorded interest expense related to the BGC Partners 3.750% Senior Notes of $0.4 million and $3.0 million, respectively, for the three months ended June 30, 2024 and 2023. BGC Partners recorded interest expense related to the BGC Partners 3.750% Senior Notes of $0.9 million and $6.0 million, respectively, for the six months ended June 30, 2024 and 2023. 4.375% Senior Notes On July 10, 2020, BGC Partners issued an aggregate of $300.0 million principal amount of BGC Partners 4.375% Senior Notes. The BGC Partners 4.375% Senior Notes are general unsecured obligations of BGC Partners. The BGC Partners 4.375% Senior Notes bear interest at a rate of 4.375% per year, payable in cash on June 15 and December 15 of each year, commencing December 15, 2020. The BGC Partners 4.375% Senior Notes will mature on December 15, 2025. BGC Partners may redeem some or all of the BGC Partners 4.375% Senior Notes at any time or from time to time for cash at certain “make-whole” redemption prices (as set forth in the supplemental indenture governing the BGC Partners 4.375% Senior Notes). The initial carrying value of the BGC Partners 4.375% Senior Notes was $296.8 million, net of discount and debt issuance costs of $3.2 million. The issuance costs are amortized as interest expense and the carrying value of the BGC Partners 4.375% Senior Notes will accrete up to the face amount over the term of the notes. As discussed above, on October 6, 2023, pursuant to the Exchange Offer, $288.2 million aggregate principal amount of BGC Partners 4.375% Senior Notes were exchanged for BGC Group 4.375% Senior Notes and subsequently cancelled, and certain amendments to the indenture and supplemental indenture governing the BGC Partners 4.375% Senior Notes became effective. The BGC Group 4.375% Senior Notes will mature on December 15, 2025 and bear interest at a rate of 4.375% per year, payable in cash on June 15 and December 15 of each year, commencing December 15, 2023. BGC Group may redeem some or all of the BGC Group 4.375% Senior Notes at any time or from time to time for cash at certain “make-whole” redemption prices (as set forth in the supplemental indenture related to the BGC Group 4.375% Senior Notes). If a “Change of Control Triggering Event” (as defined in the supplemental indenture related to the BGC Group 4.375% Senior Notes) occurs, holders may require BGC Group to purchase all or a portion of their notes for cash at a price equal to 101% of the principal amount of the notes to be purchased plus any accrued and unpaid interest to, but excluding, the purchase date. Following the closing of the Exchange Offer, $11.8 million aggregate principal amount of BGC Partners 4.375% Senior Notes remained outstanding. Cantor participated in the Exchange Offer and currently holds $14.5 million aggregate principal amount of BGC Group 4.375% Senior Notes. The carrying value of the BGC Group 4.375% Senior Notes was $287.1 million as of June 30, 2024. BGC Group recorded interest expense related to the BGC Group 4.375% Senior Notes of $3.3 million for the three months ended June 30, 2024. BGC Group recorded interest expense related to the BGC Group 4.375% Senior Notes of $6.7 million for the six months ended June 30, 2024. BGC Group did not record interest expense related to the BGC Group 4.375% Senior Notes for the three and six months ended June 30, 2023. The carrying value of the BGC Partners 4.375% Senior Notes was $11.8 million as of June 30, 2024. BGC Partners recorded interest expense related to the BGC Partners 4.375% Senior Notes of $0.1 million and $3.4 million, respectively, for the three months ended June 30, 2024 and 2023. BGC Partners recorded interest expense related to the BGC Partners 4.375% Senior Notes of $0.3 million and $6.9 million, respectively, for the six months ended June 30, 2024 and 2023. 8.000% Senior Notes On May 25, 2023, BGC Partners issued an aggregate of $350.0 million principal amount of BGC Partners 8.000% Senior Notes. The BGC Partners 8.000% Senior Notes are general unsecured obligations of BGC Partners. The BGC Partners 8.000% Senior Notes bear interest at a rate of 8.000% per year, payable in cash on May 25 and November 25 of each year, commencing November 25, 2023. The BGC Partners 8.000% Senior Notes will mature on May 25, 2028. BGC Partners may redeem some or all of the BGC Partners 8.000% Senior Notes at any time or from time to time for cash at certain “make-whole” redemption prices (as set forth in the supplemental indenture governing the BGC Partners 8.000% Senior Notes). The initial carrying value of the BGC Partners 8.000% Senior Notes was $346.6 million, net of discount and debt issuance costs of $3.4 million. The issuance costs are amortized as interest expense and the carrying value of the BGC Partners 8.000% Senior Notes will accrete up to the face amount over the term of the notes. On October 6, 2023, pursuant to the Exchange Offer, $347.2 million aggregate principal amount of BGC Partners 8.000% Senior Notes were exchanged for BGC Group 8.000% Senior Notes and subsequently cancelled, and certain amendments to the indenture and supplemental indenture governing the BGC Partners 8.000% Senior Notes became effective. The BGC Group 8.000% Senior Notes will mature on May 25, 2028 and bear interest at a rate of 8.000% per year, payable in cash on May 25 and November 25 of each year, commencing November 25, 2023. BGC Group may redeem some or all of the BGC Group 8.000% Senior Notes at any time or from time to time for cash at certain “make-whole” redemption prices (as set forth in the supplemental indenture related to the BGC Group 8.000% Senior Notes). If a “Change of Control Triggering Event” (as defined in the supplemental indenture related to the BGC Group 8.000% Senior Notes) occurs, holders may require BGC Group to purchase all or a portion of their notes for cash at a price equal to 101% of the principal amount of the notes to be purchased plus any accrued and unpaid interest to, but excluding, the purchase date. Following closing of the Exchange Offer, $2.8 million aggregate principal amount of the BGC Partners 8.000% Senior Notes remained outstanding. In connection with the issuance of the BGC Partners 8.000% Senior Notes, BGC Partners entered into a registration rights agreement providing for a future registered exchange offer by May 25, 2024 in which holders of the BGC Partners 8.000% Senior Notes, issued in a private placement on May 25, 2023, could exchange such notes for new registered notes with substantially identical terms. Such registration rights agreement was terminated in connection with the closing of the Exchange Offer. The carrying value of the BGC Group 8.000% Senior Notes was $344.2 million as of June 30, 2024. BGC Group recorded interest expense related to the BGC Group 8.000% Senior Notes of $7.1 million for the three months ended June 30, 2024. BGC Group recorded interest expense related to the BGC Group 8.000% Senior Notes of $14.3 million for the six months ended June 30, 2024. BGC Group did not record interest expense related to the BGC Group 8.000% Senior Notes for the three and six months ended June 30, 2023. The carrying value of the BGC Partners 8.000% Senior Notes was $2.8 million as of June 30, 2024. BGC Partners recorded interest expense related to the BGC Partners 8.000% Senior Notes of $0.1 million and $2.8 million, respectively, for the three months ended June 30, 2024 and 2023. BGC Partners recorded interest expense related to the BGC Partners 8.000% Senior Notes of $0.1 million and $2.8 million, respectively, for the six months ended June 30, 2024 and 2023. 6.600% Senior Notes On June 10, 2024, the Company issued an aggregate of $500.0 million principal amount of BGC Group 6.600% Senior Notes. The BGC Group 6.600% Senior Notes are general unsecured obligations of BGC Group. The BGC Group 6.600% Senior Notes bear interest at a rate of 6.600% per year, payable in cash on June 10 and December 10 of each year, commencing December 10, 2024. The BGC Group 6.600% Senior Notes will mature on June 10, 2029. The Company may redeem some or all of the BGC Group 6.600% Senior Notes at any time or from time to time for cash at certain “make-whole” redemption prices (as set forth in the supplemental indenture governing the BGC Group 6.600% Senior Notes). The initial carrying value of the BGC Group 6.600% Senior Notes was $495.0 million, net of discount and debt issuance costs of $5.0 million. The issuance costs are amortized as interest expense and the carrying value of the BGC Group 6.600% Senior Notes will accrete up to the face amount over the term of the notes. The carrying value of the BGC Group 6.600% Senior Notes was $495.0 million as of June 30, 2024. BGC Group recorded interest expense related to the BGC Group 6.600% Senior Notes of $1.9 million for the three months ended June 30, 2024. BGC Group recorded interest expense related to the BGC Group 6.600% Senior Notes of $1.9 million for the six months ended June 30, 2024. Collateralized Borrowings On April 8, 2019, BGC Partners entered into a $15.0 million secured loan arrangement, under which it pledged certain fixed assets as security for a loan. This arrangement incurred interest at a fixed rate of 3.77% and matured on April 8, 2023, at which point the loan was repaid in full; therefore, there were no borrowings as of June 30, 2024 and December 31, 2023. The interest expense related to this secured loan arrangement for both the three and six months ended June 30, 2023 were nil. On April 19, 2019, BGC Partners entered into a $10.0 million secured loan arrangement, under which it pledged certain fixed assets as security for a loan. This arrangement incurred interest at a fixed rate of 3.89% and matured on April 19, 2023, at which point the loan was repaid in full; therefore, there were no borrowings as of June 30, 2024 and December 31, 2023. The interest expense related to this secured loan arrangement for both the three and six months ended June 30, 2023 were nil. Short-Term Borrowings On August 22, 2017, BGC Partners entered into a committed unsecured loan agreement with Itau Unibanco S.A. The agreement provided for short-term loans of up to $4.0 million (BRL 20.0 million). Borrowings under this agreement bore interest at the Brazilian Interbank offering rate plus 3.20%. During June 2023, the borrowings under this agreement were repaid in full, and the loan was terminated. As of both June 30, 2024 and December 31, 2023 there were no borrowings outstanding under the agreement. BGC Partners recorded interest expense related to the agreement of $0.1 million and $0.2 million, respectively, for the three and six months ended June 30, 2023. On August 23, 2017, BGC Partners entered into a committed unsecured credit agreement with Itau Unibanco S.A. The agreement provided for an intra-day overdraft credit line up to $9.0 million (BRL 50.0 million). On August 20, 2021, the agreement was renegotiated, increasing the credit line to $10.8 million (BRL 60.0 million). On May 22, 2023 the agreement was renegotiated, increasing the credit line to $12.6 million (BRL 70.0 million). This agreement is renewable every 90 days and bears a fee of 1.32% per year. As of both June 30, 2024 and December 31, 2023 there were no borrowings outstanding under this agreement. The bank fees related to the agreement were nil for each of the three months ended June 30, 2024 and 2023. The bank fees related to the agreement were $0.1 million for each of the six months ended June 30, 2024 and 2023. BGC Credit Agreement with Cantor On March 12, 2024, the Company borrowed $275.0 million from Cantor under the BGC Credit Agreement. On April 1, 2024, the outstanding balance of $275.0 million was repaid in its entirety. There were no borrowings by the Company under the BGC Credit Agreement as of June 30, 2024. The Company did not record any interest expense related to the BGC Credit Agreement during the three months ended June 30, 2024. The Company recorded $1.1 million of interest expense related to the BGC Credit Agreement for the six months ended June 30, 2024. The Company did not record any interest expense related to the BGC Credit Agreement during the three and six months ended June 30, 2023. See Note 13—“Related Party Transactions” for additional information related to these transactions.

Compensation

Compensation	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Compensation	Compensation The Compensation Committee may grant various equity-based awards, including RSUs, restricted stock, stock options, LPUs (prior to the Corporate Conversion) and shares of BGC Class A common stock. Upon vesting of RSUs, issuance of restricted stock, exercise of stock options and redemption/exchange of LPUs (prior to the Corporate Conversion), the Company generally issues new shares of BGC Class A common stock. On November 22, 2021, at the annual meeting of stockholders, the stockholders approved amendments to the BGC Partners Equity Plan to increase from 400.0 million to 500.0 million the aggregate number of shares of BGC Class A common stock that may be delivered or cash-settled pursuant to awards granted during the life of the BGC Partners Equity Plan. In connection with the Corporate Conversion on July 1, 2023, BGC Group assumed and adopted the BGC Partners Equity Plan, as amended and restated as the BGC Group Equity Plan. The BGC Group Equity Plan provides for a maximum of 600.0 million shares of BGC Class A common stock that may be delivered or cash settled pursuant to the exercise or settlement of awards granted under the plan. As of June 30, 2024, the limit on the aggregate number of shares authorized to be delivered allowed for the grant of future awards relating to 455.0 million shares. In connection with the Corporate Conversion, on June 30, 2023, the Company issued 22.5 million RSUs for the redemption of 16.9 million non-exchangeable LPUs and 5.6 million non-exchangeable FPUs in BGC Holdings, and issued $49.2 million of RSU Tax Accounts for the redemption of 10.6 million non-exchangeable Preferred Units in BGC Holdings, based on their fixed cash value. As a result of the Corporate Conversion, on July 1, 2023, the Company issued 38.6 million restricted stock awards and 25.3 million RSUs for the redemption of 54.0 million non-exchangeable LPUs and 9.9 million non-exchangeable Preferred Units in BGC Holdings, and granted $74.0 million of RSU Tax Accounts for the redemption of 16.3 million non-exchangeable Preferred Units in BGC Holdings, based on their fixed cash value. The Company incurred compensation expense related to Class A common stock, LPUs (prior to the Corporate Conversion) and RSUs held by BGC employees as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Issuance of common stock and grants of exchangeability $ 29,943 $ 101,938 $ 63,775 $ 153,904 Allocations of net income and dividend equivalents¹ 1,044 637 2,338 3,017 LPU amortization — 19,447 — 40,878 RSU, RSU Tax Account, and restricted stock amortization 35,220 4,622 96,175 10,218 Equity-based compensation and allocations of net income to limited partnership units and FPUs $ 66,207 $ 126,644 $ 162,288 $ 208,017 ____________________________ 1 Prior to the Corporate Conversion, certain LPUs generally received quarterly allocations of net income, including the Preferred Distribution, and were generally contingent upon services being provided by the unit holders. Subsequent to the Corporate Conversion, this includes dividend equivalents on participating securities, the Preferred Return on certain RSU Tax Accounts, and quarterly allocations of net income, including the Preferred Distribution to LPUs held by BGC employees in Newmark Holdings. Limited Partnership Units A summary of the activity associated with Newmark Holdings LPUs held by BGC employees is as follows (in thousands): Newmark Balance at December 31, 2023 8,779 Granted — Redeemed/exchanged units (338) Forfeited units (8) Balance at June 30, 2024 8,433 The LPUs table above includes both regular and Preferred Units. Preferred Units are not entitled to participate in partnership distributions other than with respect to the Preferred Distribution (see Note 2—“Limited Partnership Interests in BGC Holdings and Newmark Holdings” for further information on Preferred Units). Subsequent to the Corporate Conversion, there are still BGC employees who hold limited partnership interests in Newmark Holdings. These limited partnership interests represent interests that were held prior to the Newmark IPO and were distributed in connection with the Separation. Following the Newmark IPO, employees of BGC and Newmark only received limited partnership interests in BGC Holdings and Newmark Holdings, respectively. As a result of the Spin-Off, as the previous limited partnership interests in BGC Holdings held by Newmark employees and the existing limited partnership interests in Newmark Holdings held by BGC employees were/are exchanged/redeemed, the related capital was contributed to and from Cantor, respectively. The compensation expenses under GAAP related to the limited partnership interests are based on the company where the partner is employed. Therefore, compensation expenses related to the limited partnership interests of both BGC Holdings (prior to the Corporate Conversion) and Newmark Holdings that are held by BGC employees are recognized by BGC. The BGC Holdings limited partnership interests held by Newmark employees could have been included in the BGC share count and the Newmark Holdings limited partnership interests held by BGC employees may be included in the Newmark share count, if applicable. There were no limited partnership interests in BGC Holdings remaining upon the completion of the Corporate Conversion, and therefore, there was no compensation expense related to limited partnership interest in BGC Holdings recognized by BGC subsequent to the Corporate Conversion. A summary of the Newmark Holdings LPUs held by BGC employees as of June 30, 2024, is as follows (in thousands): Newmark Regular Units 6,517 Preferred Units 1,916 Balance at June 30, 2024 8,433 Issuance of Common Stock and Grants of Exchangeability Compensation expense related to the issuance of BGC or Newmark Class A common stock and grants of exchangeability on BGC Holdings (prior to the Corporate Conversion) and Newmark Holdings LPUs held by BGC employees is as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Issuance of common stock and grants of exchangeability $ 29,943 $ 101,938 $ 63,775 $ 153,904 Prior to the Corporate Conversion, BGC LPUs held by BGC employees had become exchangeable or were redeemed for BGC Class A common stock on a one-for-one basis. Newmark LPUs held by BGC employees may become exchangeable or redeemed for a number of shares of Newmark Class A common stock equal to the number of limited partnership interests multiplied by the current Exchange Ratio. As of June 30, 2024, the Exchange Ratio was 0.9248. A summary of the LPUs redeemed in connection with the issuance of BGC Class A common stock or Newmark Class A common stock (at the then-current Exchange Ratio) or granted exchangeability for BGC Class A common stock or Newmark Class A common stock (at the then-current Exchange Ratio) held by BGC employees is as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 BGC Holdings LPUs — 14,710 — 25,684 Newmark Holdings LPUs 62 100 123 179 Total 62 14,810 123 25,863 As of June 30, 2024 and December 31, 2023, there were no BGC Holdings LPUs remaining as a result of the Corporate Conversion. As of both June 30, 2024 and December 31, 2023, the number of Newmark Holdings LPUs exchangeable into shares of Newmark Class A common stock at the discretion of the unit holder held by BGC employees (at the then-current Exchange Ratio) was 0.2 million. Subsequent to the Corporate Conversion, BGC may issue BGC Class A common stock and record compensation expense for the grant date fair value of the shares issued. For the three months ended June 30, 2024, BGC issued 2.3 million of net shares of BGC Class A common stock to BGC employees, and withheld shares of BGC Class A common stock valued at $10.3 million to pay taxes due at the time of issuance. For the six months ended June 30, 2024, BGC issued 4.7 million of net shares of BGC Class A common stock to BGC employees, and withheld shares of BGC Class A common stock valued at $21.2 million to pay taxes due at the time of issuance. There were no such issuances for the three and six months ended June 30, 2023. LPU Amortization Compensation expense related to the amortization of BGC Holdings (prior to the Corporate Conversion) and Newmark Holdings LPUs held by BGC employees is as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Stated vesting schedule $ — $ 19,440 $ — $ 40,848 Post-termination payout — 7 — 30 LPU amortization $ — $ 19,447 $ — $ 40,878 Prior to the Corporate Conversion, there were certain LPUs that had a stated vesting schedule and did not receive quarterly allocations of net income. These LPUs generally vested between two As of both June 30, 2024 and December 31, 2023 , there were no outstanding LPUs held by BGC employees with a stated vesting schedule that did not receive quarterly allocations of net income. Compensation expense related to LPUs held by BGC employees with a post-termination pay-out amount, such as REUs, and/or a stated vesting schedule was recognized over the stated service period. These LPUs generally vested between two December 31, 2023, there were 0.1 million outstanding Newmark Holdings LPUs with a post-termination payout held by BGC employees, with a notional value of approximately $0.7 million and an aggregate estimated fair value of $0.3 million . Restricted Stock Units Compensation expense related to RSUs held by BGC employees is as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 RSU amortization $ 21,229 $ 4,622 $ 40,696 $ 10,218 A summary of the activity associated with RSUs held by BGC employees and directors is as follows (RSUs and fair value amount in thousands): RSUs Weighted- Fair Value Weighted- Balance at December 31, 2023 64,942 $ 4.11 $ 267,015 5.96 Granted 14,122 7.44 105,060 Delivered (7,718) 4.01 (30,935) Forfeited (770) 4.72 (3,635) Balance at June 30, 2024 70,576 $ 4.78 $ 337,505 5.88 The fair value of RSUs held by BGC employees and directors is based on the market value of BGC Class A common stock on the grant date and adjusted as appropriate based upon the award’s ineligibility to receive dividends. As of June 30, 2024, 25.0 million RSUs of the total outstanding were eligible to receive dividends. The compensation expense is recognized ratably over the vesting period, taking into effect estimated forfeitures or accelerations of vestings. The Company uses historical data, including historical forfeitures and turnover rates, to estimate expected forfeiture rates for both employee and director RSUs. Each RSU is settled in one share of Class A common stock upon completion of the vesting period and conditions. For the RSUs that vested during the three months ended June 30, 2024 and 2023, the Company withheld shares of BGC Class A common stock valued at $16.1 million and $1.4 million, respectively, to pay taxes due at the time of vesting. For the RSUs that vested during the six months ended June 30, 2024 and 2023, the Company withheld shares of BGC Class A common stock valued at $27.9 million and $7.6 million, respectively, to pay taxes due at the time of vesting. As of June 30, 2024, there was approximately $209.6 million of total unrecognized compensation expense related to unvested RSUs held by BGC employees and directors that is expected to be recognized over a weighted-average period of 5.88 years. In relation to the Corporate Conversion, the Company granted in total $123.1 million of RSU Tax Accounts. During the three months ended June 30, 2024, $4.5 million of RSU Tax Accounts vested to pay taxes due at the time for certain related RSU vestings. During the six months ended June 30, 2024, $8.0 million of RSU Tax Accounts vested to pay taxes due at the time for certain related RSU vestings. As of June 30, 2024, there was approximately $80.8 million of total unrecognized compensation expense related to unvested RSU Tax Accounts held by BGC employees that is expected to be recognized over a weighted-average period of 8.40 years. The compensation expense related to the RSU Tax Accounts amortization held by BGC employees was $5.1 million and $11.1 million, respectively, for three and six months ended June 30, 2024. Acquisitions In connection with certain of its acquisitions, the Company has granted certain LPUs (prior to the Corporate Conversion) and RSUs, and other deferred compensation awards. As of June 30, 2024, the aggregate estimated fair value of acquisition-related RSUs was $5.1 million, and as of December 31, 2023, the aggregate estimated fair value of acquisition-related LPUs and RSUs was $7.4 million. As of June 30, 2024 and December 31, 2023, the aggregate estimated fair value of the deferred compensation awards was nil and $0.6 million, respectively. The liability for such acquisition-related RSUs is included in “Accounts payable, accrued and other liabilities” on the Company’s unaudited Condensed Consolidated Statements of Financial Condition. Restricted Stock BGC employees hold shares of BGC and Newmark restricted stock. Such restricted shares are generally salable by partners in five During the three months ended June 30, 2024 and 2023, nil and 0.2 million BGC or Newmark restricted shares held by BGC employees were forfeited in connection with this provision, respectively. During the six months ended June 30, 2024 and 2023, 0.2 million and 0.2 million BGC or Newmark restricted shares held by BGC employees were forfeited in connection with this provision, respectively. During the three months ended June 30, 2024 and 2023, the Company released the restrictions with respect to nil and 2.1 million of such BGC shares held by BGC employees, respectively. During the six months ended June 30, 2024 and 2023, the Company released the restrictions with respect to nil and 2.3 million of such BGC shares held by BGC employees, respectively. As of June 30, 2024 and December 31, 2023, there were nil and 0.1 million of such restricted BGC shares held by BGC employees outstanding, respectively. During the three months ended June 30, 2024 and 2023, Newmark released the restrictions with respect to nil and 1.1 million, respectively, of restricted Newmark shares held by BGC employees. During the six months ended June 30, 2024 and 2023, Newmark released the restrictions with respect to nil and 1.1 million, respectively, of restricted Newmark shares held by BGC employees. As of both June 30, 2024 and December 31, 2023, there were no restricted Newmark shares held by BGC employees outstanding. In addition, as a result of the Corporate Conversion, on July 1, 2023, the Company granted 38.6 million restricted stock awards, which are subject to continued employment or service with the Company or any affiliate or subsidiary of the Company. The fair value of these restricted stock awards held by BGC employees is based on the market value of BGC Class A common stock on the grant date and adjusted as appropriate based upon the award’s ineligibility to receive dividends. As of June 30, 2024, 1.1 million of the total 16.8 million restricted stock awards outstanding, were eligible to receive dividends. The compensation expense is recognized ratably over the vesting period, taking into effect estimated forfeitures or accelerations of vestings. The Company uses historical data, including historical forfeitures and turnover rates, to estimate expected forfeiture rates for employee restricted stock awards. Each restricted stock award is settled in one share of Class A common stock upon completion of the vesting period and conditions. The compensation expense related to the restricted stock amortization on these awards held by BGC employees was $8.9 million for the three months ended June 30, 2024. The compensation expense related to the restricted stock amortization on these awards held by BGC employees was $44.3 million for the six months ended June 30, 2024. The compensation expense related to restricted stock includes the acceleration of approximately 4.3 million restricted stock awards of a former executive officer which resulted in a $25.4 million compensation expense for the six months ended June 30, 2024. For the restricted stock awards that vested during the three months ended June 30, 2024, the Company withheld 1.3 million shares of BGC Class A common stock to pay taxes due at the time of vesting. For the restricted stock awards that vested during the six months ended June 30, 2024, the Company withheld 2.7 million shares of BGC Class A common stock to pay taxes due at the time of vesting. As of June 30, 2024, there was approximately $19.5 million of total unrecognized compensation expense related to unvested restricted stock awards held by BGC employees that is expected to be recognized over a weighted-average period of 0.98 years. A summary of the activity associated with these restricted stock awards held by BGC employees is as follows (restricted stock and dollars in thousands): Restricted Stock Weighted- Fair Value Weighted- Balance at December 31, 2023 27,953 $ 4.20 $ 117,468 2.55 Granted — — — Delivered (10,912) 4.46 (48,659) Forfeited (225) 4.43 (997) Balance at June 30, 2024 16,816 $ 4.03 $ 67,812 0.98

Commitments, Contingencies and

Commitments, Contingencies and Guarantees	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments, Contingencies and Guarantees	Commitments, Contingencies and Guarantees Contingencies In the ordinary course of business, various legal actions are brought and are pending against the Company and its subsidiaries in the U.S. and internationally. In some of these actions, substantial amounts are claimed. The Company is also involved, from time to time, in reviews, examinations, investigations and proceedings by governmental and self-regulatory agencies (both formal and informal) regarding the Company’s businesses, operations, reporting or other matters, which may result in regulatory, civil and criminal judgments, settlements, fines, penalties, injunctions, enhanced oversight, remediation, or other relief. The following generally does not include matters that the Company has pending against other parties which, if successful, would result in awards in favor of the Company or its subsidiaries. Employment, Competitor-Related and Other Litigation From time to time, the Company and its subsidiaries are involved in litigation, claims and arbitrations in the U.S. and internationally, relating to, inter alia, various employment matters, including with respect to termination of employment, hiring of employees currently or previously employed by competitors, terms and conditions of employment and other matters. In light of the competitive nature of the brokerage industry, litigation, claims and arbitration between competitors regarding employee hiring are not uncommon. The Company is also involved, from time to time, in other reviews, investigations and proceedings by governmental and self-regulatory agencies (both formal and informal) regarding the Company’s businesses. Any such actions may result in regulatory, civil or criminal judgments, settlements, fines, penalties, injunctions, enhanced oversight, remediation, or other relief. Legal reserves are established in accordance with U.S. GAAP guidance on Accounting for Contingencies, when a material legal liability is both probable and reasonably estimable. Once established, reserves are adjusted when there is more information available or when an event occurs requiring a change. The outcome of such items cannot be determined with certainty. The Company is unable to estimate a possible loss or range of loss in connection with specific matters beyond its current accruals and any other amounts disclosed. Management believes that, based on currently available information, the final outcome of these current pending matters will not have a material adverse effect on the Company’s financial condition, results of operations, or cash flows. Letter of Credit Agreements The Company has irrevocable uncollateralized letters of credit with various banks, where the beneficiaries are clearing organizations through which it transacts, that are used in lieu of margin and deposits with those clearing organizations. As of both June 30, 2024 and December 31, 2023 the Company was contingently liable for $1.4 million under these letters of credit. Risk and Uncertainties The Company generates revenues by providing financial intermediary and brokerage activities to institutional customers and by executing and, in some cases, clearing transactions for institutional counterparties. Revenues for these services are transaction-based. As a result, revenues could vary based on the transaction volume of global financial markets. Additionally, financing is sensitive to interest rate fluctuations, which could have an impact on the Company’s overall profitability. Financial instruments that potentially subject the Company to concentration of credit risk consist of cash accounts in a financial institution which, at times, may exceed the FDIC maximum coverage limit of $250,000. Any loss incurred or a lack of access to such funds could have a significant adverse impact on the Company’s Consolidated Financial Statements. For the three and six months ended June 30, 2024 and 2023, the Company did not incur losses on any FDIC insured cash accounts. During the three months ended June 30, 2024 and 2023 and the six months ended June 30, 2024 and 2023, the Company reserved $2.0 million, $2.0 million, $4.0 million and $4.0 million, respectively, in connection with potential losses associated with Russia’s Invasion of Ukraine, which is included in “Other expenses” in the Company’s unaudited Condensed Consolidated Statements of Operations, and which was recorded as part of the allowance for credit losses (see Note 25—“Current Expected Credit Losses (CECL)” for additional information). Insurance The Company is self-insured for health care claims, up to a stop-loss amount for eligible participating employees and qualified dependents in the U.S., subject to deductibles and limitations. The Company’s liability for claims incurred but not reported is determined based on an estimate of the ultimate aggregate liability for claims incurred. The estimate is calculated from actual claim rates and adjusted periodically as necessary. The Company has accrued $3.3 million and $3.7 million in health care claims as of June 30, 2024 and December 31, 2023, respectively. The Company does not expect health care claims to have a material impact on its financial condition, results of operations, or cash flows. Guarantees The Company provides guarantees to securities clearinghouses and exchanges which meet the definition of a guarantee under FASB interpretations. Under these standard securities clearinghouse and exchange membership agreements, members are required to guarantee, collectively, the performance of other members and, accordingly, if another member becomes unable to satisfy its obligations to the clearinghouse or exchange, all other members would be required to meet the shortfall. In the opinion of management, the Company’s liability under these agreements is not quantifiable and could exceed the cash and securities it has posted as collateral. However, the potential of being required to make payments under these arrangements is remote. Accordingly, no contingent liability has been recorded in the Company’s unaudited Condensed Consolidated Statements of Financial Condition for these agreements.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s unaudited Condensed Consolidated Financial Statements include U.S. federal, state and local income taxes on the Company’s allocable share of the U.S. results of operations, as well as taxes payable to jurisdictions outside the U.S. In addition, certain of the Company’s entities are taxed as U.S. partnerships and are subject to the UBT in New York City. Therefore, the tax liability or benefit related to the partnership income or loss, except for UBT, rests with the partners (see Note 2—“Limited Partnership Interests in BGC Holdings and Newmark Holdings” for discussion of partnership interests), rather than the partnership entity. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the unaudited condensed consolidated financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recorded against deferred tax assets if it is deemed more likely than not that those assets will not be realized. Pursuant to U.S. GAAP guidance, Accounting for Uncertainty in Income Taxes, the Company provides for uncertain tax positions as a component of income tax expense based upon management’s assessment of whether a tax benefit is more likely than not to be sustained upon examination by tax authorities. As of both June 30, 2024 and December 31, 2023, the Company’s unrecognized tax benefits, excluding related interest and penalties were $6.7 million, of which $5.5 million, if recognized, would affect the effective tax rate. The Company is currently open to examination by tax authorities in U.S. federal, state and local jurisdictions, and certain non-U.S. jurisdictions for tax years beginning 2018, 2011 and 2016, respectively. The Company is currently under examination by tax authorities in the U.S. federal and certain state, local and foreign jurisdictions. The Company does not believe that the amounts of unrecognized tax benefits will materially change over the next 12 months. The Company recognizes interest and penalties related to unrecognized tax benefits in “Provision (benefit) for income taxes” in the Company’s unaudited Condensed Consolidated Statements of Operations. As of June 30, 2024 and December 31, 2023, the Company had accrued $4.1 million and $3.4 million, respectively, for income tax-related interest and penalties.

Regulatory Requirements

Regulatory Requirements	6 Months Ended
	Jun. 30, 2024
Broker-Dealer [Abstract]
Regulatory Requirements	Regulatory Requirements Many of the Company’s businesses are subject to regulatory restrictions and minimum capital requirements. These regulatory restrictions and capital requirements may restrict the Company’s ability to withdraw capital from its subsidiaries. Certain U.S. subsidiaries of the Company are registered as U.S. broker-dealers or FCMs subject to Rule 15c3-1 of the SEC and Rule 1.17 of the CFTC, which specify uniform minimum net capital requirements, as defined, for their registrants, and also require a significant part of the registrants’ assets be kept in relatively liquid form. As of June 30, 2024, the Company’s U.S. subsidiaries had net capital in excess of their minimum capital requirements. Certain U.K. and European subsidiaries of the Company are regulated by their national regulators, which include the FCA and L’Autorité des Marchés Financiers and must maintain financial resources (as defined by their national regulators) in excess of the total financial requirement (as defined by their national regulators). As of June 30, 2024, the U.K. and European subsidiaries had financial resources in excess of their requirements. Certain other subsidiaries of the Company are subject to regulatory and other requirements of the jurisdictions in which they operate. Certain BGC subsidiaries also operate as DCMs and DCOs which are required to maintain financial resources to cover operating costs for at least one year, keeping at least enough cash or highly liquid securities to cover six months’ operating costs. In addition, BGC subsidiaries operate as SEFs which are required to maintain financial resources to cover operating costs for at least one year, keeping at least enough cash or highly liquid securities to cover the greater of three months of projected operating costs, or the projected costs needed to wind down the swap execution facility’s operations. The regulatory requirements referred to above may restrict the Company’s ability to withdraw capital from its regulated subsidiaries. As of June 30, 2024, the Company’s regulated subsidiaries held $695.6 million of net capital. These subsidiaries had aggregate regulatory excess net capital of $378.7 million.

Segment, Geographic and Product

Segment, Geographic and Product Information	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Segment, Geographic and Product Information	Segment, Geographic and Product Information Segment Information The Company currently operates in one reportable segment, brokerage services. The Company provides or has provided brokerage services to the financial markets, through integrated Voice, Hybrid and Fully Electronic brokerage in a broad range of products, including fixed income (Rates and Credit), FX, Equities, ECS, and Futures and Options. BGC also provides a wide range of services, including trade execution, brokerage, clearing, trade compression, post-trade, information, consulting, and other back-office services to a broad range of financial and non-financial institutions. Geographic Information The Company offers products and services in the U.K., U.S., Asia (including Australia), Other Europe, MEA, France, and Other Americas. Information regarding revenues is as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Revenues: U.K. $ 192,183 $ 174,334 $ 401,771 $ 365,518 U.S. 180,562 162,387 362,648 331,724 Asia 73,093 67,729 146,938 139,100 Other Europe/MEA 63,546 44,270 131,440 99,159 France 23,345 25,407 50,603 52,545 Other Americas 18,032 18,953 35,975 37,901 Total revenues $ 550,761 $ 493,080 $ 1,129,375 $ 1,025,947 Information regarding long-lived assets (defined as loans, forgivable loans and other receivables from employees and partners, net; fixed assets, net; ROU assets; certain other investments; rent and other deposits; excluding goodwill and other intangible assets, net of accumulated amortization) in the geographic areas is as follows (in thousands): June 30, December 31, 2023 Long-lived assets: U.K. $ 292,726 $ 306,085 U.S. 239,776 220,050 Asia 86,516 75,496 Other Europe/MEA 74,942 64,865 France 14,674 14,260 Other Americas 5,597 5,900 Total long-lived assets $ 714,231 $ 686,656 Product Information The Company’s business is based on the products and services provided and reflects the manner in which financial information is evaluated by management. The Company specializes in the brokerage of a broad range of products, including fixed income (Rates and Credit), FX, Equities, ECS, and Futures and Options. It also provides a wide range of services, including trade execution, broker-dealer services, clearing, trade compression, post-trade, information, consulting, and other back-office services to a broad range of financial and non-financial institutions. Product information regarding revenues is as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Revenues: Rates $ 166,044 $ 144,209 $ 341,129 $ 308,946 ECS 117,743 98,688 236,207 188,347 FX 88,946 77,527 172,969 157,685 Credit 69,381 65,806 156,973 155,355 Equities 51,406 57,373 114,263 125,487 Total brokerage revenues $ 493,520 $ 443,603 $ 1,021,541 $ 935,820 All other revenues 57,241 49,477 107,834 90,127 Total revenues $ 550,761 $ 493,080 $ 1,129,375 $ 1,025,947

Revenues from Contracts with Cu

Revenues from Contracts with Customers	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenues from Contracts with Customers	Revenues from Contracts with Customers The following table presents the Company’s total revenues separated between revenues from contracts with customers and other sources of revenues (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Revenues from contracts with customers: Commissions $ 395,081 $ 348,720 $ 810,253 $ 726,008 Data, network and post-trade 30,812 27,000 61,715 54,122 Fees from related parties 4,643 4,062 9,064 8,019 Other revenues 4,435 4,856 7,552 7,310 Total revenues from contracts with customers 434,971 384,638 888,584 795,459 Other sources of revenues: Principal transactions 98,439 94,883 211,288 209,812 Interest and dividend income 17,145 13,371 26,909 18,686 Other revenues 206 188 2,594 1,990 Total revenues $ 550,761 $ 493,080 $ 1,129,375 $ 1,025,947 See Note 3—“Summary of Significant Accounting Policies” in our consolidated financial statements included in Part II, Item 8 of our Annual Report on Form 10-K for the year ended December 31, 2023 for detailed information on the recognition of the Company’s revenues from contracts with customers. Disaggregation of Revenue See Note 22—“Segment, Geographic and Product Information,” for a further discussion on the allocation of revenues to geographic regions. Contract Balances The timing of the Company’s revenue recognition may differ from the timing of payment by its customers. The Company records a receivable when revenue is recognized prior to payment and the Company has an unconditional right to payment. Alternatively, when payment precedes the provision of the related services, the Company records deferred revenue until the performance obligations are satisfied. The Company had receivables related to revenues from contracts with customers of $358.7 million and $314.8 million at June 30, 2024 and December 31, 2023, respectively. The Company had no impairments related to these receivables during the three and six months ended June 30, 2024 and 2023. The Company’s deferred revenue primarily relates to customers paying in advance or billed in advance where the performance obligation has not yet been satisfied. Deferred revenue at June 30, 2024 and December 31, 2023 was $28.0 million and $14.7 million, respectively. During the three months ended June 30, 2024 and 2023, the Company recognized revenue of $11.4 million and $9.1 million, respectively, that was recorded as deferred revenue at the beginning of the period. During the six months ended June 30, 2024 and 2023, the Company recognized revenue of $10.7 million and $9.3 million, respectively, that was recorded as deferred revenue at the beginning of the period. Contract Costs The Company capitalizes costs to fulfill contracts associated with different lines of its business where the revenue is recognized at a point in time and the costs are determined to be recoverable. Capitalized costs to fulfill a contract are recognized at the point in time that the related revenue is recognized.

Leases

Leases	6 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Leases	Leases The Company, acting as a lessee, has operating leases and finance leases primarily relating to office space, data centers and office equipment. The leases have remaining lease terms of 0.3 years to 15.1 years, some of which include options to extend the leases in 0.1 to 10 year increments for up to 15 years. Renewal periods are included in the lease term only when renewal is reasonably certain, which is a high threshold and requires management to apply judgment to determine the appropriate lease term. Certain leases also include periods covered by an option to terminate the lease if the Company is reasonably certain not to exercise the termination option. The Company measures its lease payments by including fixed rental payments and, where relevant, variable rental payments tied to an index, such as the Consumer Price Index. Payments for leases in place before the date of adoption of ASC 842, Leases were determined based on previous leases guidance. The Company recognizes lease expense for its operating leases on a straight-line basis over the lease term, and variable lease expense not included in the lease payment measurement is recognized as incurred. Interest expense on finance leases is recognized using the effective interest method over the lease term. Pursuant to the accounting policy election, leases with an initial term of twelve months or less are not recognized on the balance sheet. The short-term lease expense over the period reasonably reflects the Company’s short-term lease commitments. ASC 842, Leases requires the Company to make certain assumptions and judgments in applying the guidance, including determining whether an arrangement includes a lease, determining the term of a lease when the contract has renewal or cancellation provisions, and determining the discount rate. The Company determines whether an arrangement is a lease or includes a lease at the contract inception by evaluating whether the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. If the Company has the right to obtain substantially all of the economic benefits from, and can direct the use of, the identified asset for a period of time, the Company accounts for the identified asset as a lease. The Company has elected the practical expedient to not separate lease and non-lease components for all leases other than real estate leases. The primary non-lease component that is combined with a lease component represents operating expenses, such as utilities, maintenance or management fees. As the rate implicit in the lease is not usually available, the Company used an incremental borrowing rate based on the information available at the adoption of ASC 842 in determining the present value of lease payments for existing leases. The Company has elected to use a portfolio approach for the incremental borrowing rate, applying corporate bond rates to the leases. The Company calculated the appropriate rates with reference to the lease term and lease currency. The Company uses information available at the lease commencement date to determine the incremental borrowing rate for any new leases. As of June 30, 2024, the Company did not have any leases that have not yet commenced but that create significant rights and obligations. Supplemental information related to the Company’s operating and financing leases are as follows (dollar amounts in thousands): Classification in June 30, 2024 December 31, 2023 Assets Operating lease ROU assets Other assets $ 121,788 $ 124,165 Finance lease ROU assets Fixed assets, net $ 3,611 $ 4,264 Liabilities Operating lease liabilities Accounts payable, $ 146,043 $ 149,640 Finance lease liabilities Accounts payable, $ 3,996 $ 4,721 June 30, 2024 December 31, 2023 Weighted-average remaining lease term Operating leases (years) 7.0 7.3 Finance leases (years) 2.9 3.4 Weighted-average discount rate Operating leases 4.9 % 5.0 % Finance leases 4.3 % 4.3 % The components of lease expense are as follows (in thousands): Classification in Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Operating lease cost 1 Occupancy and $ 8,153 $ 7,993 $ 16,598 $ 16,846 Finance lease cost Amortization on ROU assets Occupancy and equipment $ 326 $ 326 $ 653 $ 653 Interest on lease liabilities Interest expense $ 44 $ 56 $ 91 $ 116 __________________________ 1 Short-term lease expense was not material for the three and six months ended June 30, 2024 and 2023. The following table shows the Company’s maturity analysis of its operating and finance lease liabilities (in thousands): June 30, 2024 Operating leases Finance leases 2024 (excluding the six months ended June 30, 2024) $ 16,693 $ 785 2025 29,900 1,448 2026 22,941 1,290 2027 21,661 627 2028 15,371 — Thereafter 79,387 — Total $ 185,953 $ 4,150 Interest (39,910) (154) Total $ 146,043 $ 3,996 The following table shows cash flow information related to lease liabilities (in thousands): Three Months Ended June 30, Six Months Ended June 30, Cash paid for amounts included in the measurement of lease liabilities 2024 2023 2024 2023 Operating cash flows from operating lease liabilities $ 9,581 $ 8,485 $ 18,944 $ 18,089 Operating cash flows from finance lease liabilities $ 44 $ 56 $ 91 $ 116 Financing cash flows from finance lease liabilities $ 318 $ 305 $ 633 $ 608

Current Expected Credit Losses

Current Expected Credit Losses (CECL)	6 Months Ended
	Jun. 30, 2024
Credit Loss [Abstract]
Current Expected Credit Losses (CECL)	Current Expected Credit Losses (CECL) The allowance for credit losses reflects management’s current estimate of potential credit losses related to the receivable balances included in the Company’s unaudited Condensed Consolidated Statements of Financial Condition. See Note 3—“Summary of Significant Accounting Policies” for further discussion of the CECL reserve methodology. As required, any subsequent changes to the allowance for credit losses are included in “Other expenses” in the Company’s unaudited Condensed Consolidated Statements of Operations. During the three and six months ended June 30, 2024 and 2023, the Company recorded changes in the allowance for credit losses as follows (in millions): Accrued commissions and other receivables, net Loans, forgivable loans and other receivables from employees and partners, net Receivables from broker-dealers, clearing organizations, customers and related broker-dealers Total Beginning balance, April 1, 2024 $ 5.9 $ 2.3 $ 19.5 $ 27.7 Current-period provision for expected credit losses 0.1 — 2.2 2.3 Release of allowance for expected credit losses $ — $ (2.3) $ — $ (2.3) Ending balance, June 30, 2024 $ 6.0 $ — $ 21.7 $ 27.7 Accrued commissions and other receivables, net Loans, forgivable loans and other receivables from employees and partners, net Receivables from broker-dealers, clearing organizations, customers and related broker-dealers Total Beginning balance, January 1, 2024 $ 5.0 $ 2.3 $ 18.9 $ 26.2 Current-period provision for expected credit losses 1.0 — 2.8 3.8 Release of allowance for expected credit losses $ — $ (2.3) $ — $ (2.3) Ending balance, June 30, 2024 $ 6.0 $ — $ 21.7 $ 27.7 Accrued commissions and other receivables, net Loans, forgivable loans and other receivables from employees and partners, net Receivables from broker-dealers, clearing organizations, customers and related broker-dealers Total Beginning balance, April 1, 2023 $ 5.4 $ 2.4 $ 9.0 $ 16.8 Current-period provision for expected credit losses (0.3) — 2.0 1.7 Ending balance, June 30, 2023 $ 5.1 $ 2.4 $ 11.0 $ 18.5 Accrued commissions and other receivables, net Loans, forgivable loans and other receivables from employees and partners, net Receivables from broker-dealers, clearing organizations, customers and related broker-dealers Total Beginning balance, January 1, 2023 $ 5.4 $ 2.5 $ 7.0 $ 14.9 Current-period provision for expected credit losses $ (0.3) $ (0.1) $ 4.0 $ 3.6 Ending balance, June 30, 2023 $ 5.1 $ 2.4 $ 11.0 $ 18.5 For the three and six months ended June 30, 2024, there was an increase of $0.1 million and $1.0 million, respectively, in the allowance for credit losses against “Accrued commissions and other receivables, net” due to the updated macroeconomic assumptions, bringing the allowance for credit losses recorded pertaining to “Accrued commissions and other receivables, net” to $6.0 million as of June 30, 2024. For both the three and six months ended June 30, 2023, there was a decrease of $0.3 million in the allowance for credit losses against “Accrued commissions and other receivables, net.” For both the three and six months ended June 30, 2024, there was a decrease of $2.3 million in the allowance for credit losses pertaining to “Loans, forgivable loans and other receivables from employees and partners, net” as a result of the release of allowance for expected credit losses. For the three months ended June 30, 2023, there was no change in the allowance for credit losses against “Loans, forgivable loans and other receivables from employees and partners, net”. For the six months ended June 30, 2023, there was a decrease of $0.1 million in the allowance for credit losses record pertaining to “Loans, forgivable loans and other receivables from employees and partners, net” as a result of employee collections. For the three and six months ended June 30, 2024, there was an increase of $2.2 million and $2.8 million, respectively, in the allowance for credit losses against “Receivables from broker-dealers, clearing organizations, customers and related broker-dealers” which reflected the downward credit rating migration of certain unsettled trades related to Russia’s Invasion of Ukraine, bringing the allowance for credit losses recorded pertaining to “Receivables from broker-dealers, clearing organizations, customers and related broker-dealers” to $21.7 million as of June 30, 2024. For the three and six months ended June 30, 2023, there was an increase of $2.0 million and $4.0 million, respectively, in the CECL reserve recorded pertaining to “Receivables from broker-dealers, clearing organizations, customers and related broker-dealers” which reflected the downward credit rating migration of certain unsettled trades related to Russia’s Invasion of Ukraine.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Second Quarter 2024 Dividend On July 29, 2024, the Company’s Board of Directors declared a quarterly cash dividend of $0.02 per share for the second quarter of 2024, payable on September 3, 2024 to BGC Class A and Class B common stockholders of record as of August 19, 2024. BGC Credit Agreement On July 31, 2024, Cantor made a partial repayment of $18.0 million to the Company of the $180.0 million borrowed from the Company under the BGC Credit Agreement.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net income (loss) available to common stockholders	$ 37,828	$ (19,704)	$ 87,038	$ (726)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Organization and Basis of Pre_2

Organization and Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business Overview	Business Overview On July 1, 2023, the Company completed its Corporate Conversion to a Full C-Corporation in order to reorganize and simplify its organizational structure. As a result of the Corporate Conversion, BGC Group became the public holding company for, and successor to, BGC Partners, and its Class A common stock began trading on Nasdaq, in place of BGC Partners’ Class A common stock, under the ticker symbol “BGC.” Upon completion of the Corporate Conversion, the former stockholders of BGC Partners and the former limited partners of BGC Holdings now participate in the economics of the BGC businesses through BGC Group. BGC is a leading global marketplace, data, and financial technology services company for a broad range of products, including fixed income, foreign exchange, energy, commodities, shipping, and equities. BGC, through its affiliates, specializes in the trade execution of a broad range of products, including fixed income securities such as government bonds, corporate bonds, and other debt instruments, as well as related interest rate derivatives and credit derivatives. Additionally, the Company provides brokerage services across FX, Equities, ECS, and Futures and Options. The Company’s business also provides connectivity and network solutions, clearing, market data and network connectivity products, trade compression and other post-trade services, market data and related information services and other back-office services to a broad assortment of financial and non-financial institutions. BGC’s integrated platform is designed to provide flexibility to customers with regard to price discovery, trade execution and transaction processing, as well as accessing liquidity through our platforms, for transactions executed either OTC or through an exchange. Through the Company’s electronic brands, BGC Group offers several trade execution, market infrastructure and connectivity services, as well as post-trade services. The Company’s clients include many of the world’s largest banks, broker-dealers, investment banks, trading firms, hedge funds, governments, corporations, and investment firms. BGC is a global operation with offices across all major geographies, including New York and London, as well as in Bahrain, Beijing, Bogota, Brisbane, Cape Town, Chicago, Copenhagen, Dubai, Dublin, Frankfurt, Geneva, Hong Kong, Houston, Johannesburg, Madrid, Manila, Melbourne, Mexico City, Miami, Milan, Monaco, Nyon, Paris, Perth, Rio de Janeiro, Santiago, São Paulo, Seoul, Shanghai, Singapore, Sydney, Tel Aviv, Tokyo, Toronto, and Zurich.
Corporate Conversion	Corporate Conversion Effective as of 12:01 a.m., Eastern Time, on July 1, 2023, BGC Holdings reorganized from a Delaware limited partnership into a Delaware limited liability company through a merger with and into Holdings Merger Sub, with Holdings Merger Sub continuing as a direct subsidiary of BGC Partners. Effective as of 12:02 a.m., Eastern Time, on July 1, 2023, Merger Sub 1 merged with and into BGC Partners, with BGC Partners continuing as a direct subsidiary of BGC Group. At the same time, Merger Sub 2 merged with and into Holdings Merger Sub, with Holdings Merger Sub continuing as a subsidiary of BGC Group. As a result of the Corporate Conversion Mergers, BGC Partners and BGC Holdings became wholly owned subsidiaries of BGC Group. In the Holdings Reorganization Merger, each unit of BGC Holdings outstanding as of immediately prior to the Holdings Reorganization Merger was converted into a substantially equivalent equity interest in Holdings Merger Sub. In the Corporate Merger, each share of Class A common stock, par value $0.01 per share, of BGC Partners and each share of Class B common stock, par value $0.01 per share, of BGC Partners outstanding was converted into one share of Class A common stock, par value $0.01 per share, of BGC Group and one share of Class B common stock, par value $0.01 per share, of BGC Group, respectively. In connection with, but prior to the Corporate Conversion, the Company completed various transactions which included: • the redemption of certain non-exchangeable limited partnership units in connection with the issuance of shares of BGC Partners Class A common stock and the accompanying tax payments, which led to an equity-based compensation charge of $60.9 million; • the exchange of the remaining 1.5 million exchangeable limited partnership units of BGC Holdings held by employees on June 30, 2023, for 1.0 million shares, after tax withholding, of BGC Partners Class A common stock; • the redemption of certain non-exchangeable limited partnership units of BGC Holdings held by employees and issuance of 16.9 million BGC Partners RSUs on a one-for-one basis on June 30, 2023; • the redemption of certain non-exchangeable Preferred Units of BGC Holdings held by employees and issuance of $49.2 million of BGC Partners RSU Tax Accounts on June 30, 2023, based on the fixed cash value of the Preferred Units redeemed; • the redemption of the remaining 5.6 million non-exchangeable FPUs and issuances of BGC Partners RSUs on a one-for-one basis on June 30, 2023, which in turn reduced the “Redeemable Partnership Interest” to zero with an offsetting impact to “Total equity” in the Company’s unaudited Condensed Consolidated Statements of Financial Condition as of June 30, 2023; and • the purchase on June 30, 2023 by Cantor from BGC Holdings of an aggregate of 5,425,209 Cantor units for an aggregate consideration of $9,715,772 as a result of the redemption of 5,425,209 FPUs, and 324,223 Cantor units for an aggregate consideration of $598,712 as a result of the exchange of 324,223 FPUs. As a result of the Corporate Conversion: • 64.0 million Cantor units, including 5.7 million purchased on June 30, 2023, were converted into shares of BGC Group Class B common stock, subject to the terms and conditions of the Corporate Conversion Agreement, provided that a portion of the 64.0 million shares of BGC Group Class B common stock issued to Cantor will exchange into BGC Group Class A common stock in the event that BGC Group does not issue at least $75,000,000 in shares of BGC Group Class A or B common stock in connection with certain acquisition transactions prior to July 1, 2030, the seventh anniversary of the Corporate Conversion; • BGC Group assumed all BGC Partners RSUs, RSU Tax Accounts or restricted stock awards outstanding as of June 30, 2023; and • non-exchangeable limited partnership units of BGC Holdings were converted into equity awards denominated in cash, restricted stock and/or RSUs of BGC Group, each as further set forth in the Corporate Conversion Agreement. BGC Group granted 38.6 million restricted stock awards, 25.3 million RSUs, and $74.0 million of RSU Tax Accounts upon the conversion of the non-exchangeable shares of Holdings Merger Sub. There were no limited partnership units of BGC Holdings remaining after the Corporate Conversion was completed. In connection with the Corporate Conversion on July 1, 2023, BGC Group assumed and adopted: the Eighth Amended and Restated BGC Partners, Inc. Long-Term Incentive Plan, as amended and restated as the BGC Group, Inc. Long Term Incentive Plan; the BGC Partners Second Amended and Restated BGC Partners Incentive Bonus Compensation Plan, as amended and restated, and renamed the BGC Group, Inc. Incentive Bonus Compensation Plan; and the BGC Partners, Inc. Deferral Plan for Employees of BGC Partners, Inc., Cantor Fitzgerald, L.P. and Their Affiliates, as amended and restated as the BGC Group, Inc. Deferral Plan for Employees of BGC Group, Inc., Cantor Fitzgerald, L.P. and Their Affiliates. The BGC Group Equity Plan provides for a maximum of 600 million shares of BGC Class A common stock that may be delivered or cash settled pursuant to the exercise or settlement of awards granted under the plan. In connection with the Corporate Conversion on July 1, 2023, the BGC Holdings Limited Partnership Agreement was terminated, and the BGC Holdings, L.P. Participation Plan was terminated. In connection with the Corporate Conversion on July 1, 2023, BGC Group amended and restated its certificate of incorporation to reflect an increase in the authorized shares of BGC Group Class A common stock to 1,500,000,000; an increase in the authorized shares of BGC Group Class B common stock to 300,000,000; and a provision providing for exculpation to officers of BGC Group pursuant to Section 102(b)(7) of the DGCL. Additionally, BGC Group amended and restated its bylaws to adopt a provision providing that Delaware courts shall be the exclusive forum for certain matters.
Basis of Presentation	Basis of Presentation
Consolidation	The Company’s unaudited Condensed Consolidated Financial Statements include the Company’s accounts and all subsidiaries in which the Company has a controlling interest. Intercompany balances and transactions have been eliminated in consolidation.
Reclassification	Certain reclassifications have been made to previously reported amounts to conform to the current presentation. During the second quarter of 2023, the Company renamed “Data, software and post-trade” as “Data, network and post-trade” on the unaudited Condensed Consolidated Statements of Operations. During the third quarter of 2023, the Company renamed “Net income (loss) available to common stockholders” as “Net income (loss) attributable to common stockholders” under the Basic earnings (loss) per share calculation on the unaudited Condensed Consolidated Statements of Operations. During the first quarter of 2024, the Company changed the name of the brokerage product line formerly labeled as “Energy and Commodities” to “Energy, Commodities, and Shipping” to better reflect the integrated operations of these businesses. The change did not result in any classification of revenues and had no impact on the Company’s Total brokerage revenues. See Note 22—“Segment, Geographic and Product Information.” The unaudited Condensed Consolidated Financial Statements contain all adjustments (consisting only of normal and recurring adjustments) that, in the opinion of management, are necessary for a fair presentation of the unaudited Condensed Consolidated Statements of Financial Condition, the unaudited Condensed Consolidated Statements of Operations, the unaudited Condensed Consolidated Statements of Comprehensive Income (Loss), the unaudited Condensed Consolidated Statements of Cash Flows and the unaudited Condensed Consolidated Statements of Changes in Equity of the Company for the periods presented.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In October 2021, the FASB issued ASU No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers . The standard improves the accounting for acquired revenue contracts with customers in a business combination by addressing diversity in practice and inconsistency related to the recognition of an acquired contract liability, as well as payment terms and their effect on subsequent revenue recognized by the acquirer. The ASU requires companies to apply guidance in ASC 606, Revenue from Contracts with Customers , to recognize and measure contract assets and contract liabilities from contracts with customers acquired in a business combination, and, thus, creates an exception to the general recognition and measurement principle in ASC 805, Business Combinations . BGC adopted the standard on the required effective date beginning January 1, 2023 using a prospective transition method for business combinations occurring on or after the effective date. The adoption of this guidance did not have a material impact on the Company’s unaudited Condensed Consolidated Financial Statements. In March 2022, the FASB issued ASU No. 2022-02, Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures . The guidance is intended to improve the decision usefulness of information provided to investors about certain loan refinancings, restructurings, and write-offs. The standard eliminates the recognition and measurement guidance on TDRs for creditors that have adopted ASC 326, Financial Instruments — Credit Losses and requires them to make enhanced disclosures about loan modifications for borrowers experiencing financial difficulty. The new guidance also requires public business entities to present current-period gross write-offs (on a current year-to-date basis for interim-period disclosures) by year of origination in their vintage disclosures. BGC adopted the standard on the required effective date beginning January 1, 2023. The guidance for recognition and measurement of TDRs was applied using a prospective transition method, and the amendments related to disclosures will be applied prospectively. The adoption of this guidance did not have a material impact on the Company’s unaudited Condensed Consolidated Financial Statements. In September 2022, the FASB issued ASU No. 2022-04, Liabilities—Supplier Finance Programs (Subtopic 405-50): Debt Restructurings Disclosure of Supplier Finance Program Obligations . The guidance requires entities to disclose the key terms of supplier finance programs they use in connection with the purchase of goods and services along with information about their obligations under these programs, including a rollforward of those obligations. BGC adopted the standard on the required effective date beginning on January 1, 2023, except for the rollforward requirement, which became effective for the Company beginning on January 1, 2024. The guidance was adopted using a retrospective application to all periods in which a balance sheet is presented, and the rollforward disclosure requirement, will be applied prospectively. The adoption of the guidance that was effective beginning January 1, 2023 did not have a material impact on the Company’s unaudited Condensed Consolidated Financial Statements. The rollforward disclosure requirement did not have a material impact on the Company’s unaudited Condensed Consolidated Financial Statements.
New Accounting Pronouncements	New Accounting Pronouncements In December 2022, the FASB issued ASU No. 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848. ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting provided optional guidance to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. The ASU was effective upon issuance and generally could be applied through December 31, 2022. Because the current relief in ASC 848, Reference Rate Reform may not cover a period of time during which a significant number of modifications may take place, the amendments in ASU No. 2022-06 defer the sunset date from December 31, 2022 to December 31, 2024, after which entities will no longer be permitted to apply the relief in ASC 848. The ASU is effective upon issuance. Management is currently evaluating the impact of the new standard on the Company’s unaudited Condensed Consolidated Financial Statements. In October 2023, the FASB issued ASU No. 2023-06, Disclosure Improvements—Codification Amendments in Response to the SEC ’ s Disclosure Update and Simplification Initiative. The standard is expected to clarify or improve disclosure and presentation requirements of a variety of ASC topics, allow users to more easily compare entities subject to the SEC’s existing disclosure requirements with those entities that were not previously subject to the requirements, and align the requirements in the Codification with the SEC’s regulations. The effective date for the guidance will be the date on which the SEC’s removal of the related disclosure from Regulation S-X or Regulation S-K becomes effective. If by June 30, 2027 the SEC has not removed the applicable requirements from Regulation S-X or Regulation S-K, the pending content of the related amendment will be removed from the Codification and will not become effective for any entity. Management is currently evaluating the impact of the new standard on the Company’s unaudited Condensed Consolidated Financial Statements. In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The guidance was issued in response to requests from investors for companies to disclose more information about their financial performance at the segment level. The ASU does not change how a public entity identifies its operating segments, aggregates them or applies the quantitative thresholds to determine its reportable segments. The standard will require a public entity to disclose significant segment expenses and other segment items on an annual and interim basis, and to provide in interim periods all disclosures about a reportable segment’s profit or loss and assets that are currently required annually. Public entities with a single reportable segment will be required to provide the new disclosures and all the disclosures currently required under ASC 280. The new guidance will become effective for the Company’s financial statements issued for annual reporting periods beginning on January 1, 2024 and for the interim periods beginning on January 1, 2025, will require retrospective presentation, and early adoption is permitted. Management is currently evaluating the impact of the new standard on the Company’s unaudited Condensed Consolidated Financial Statements. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The standard improves the transparency of income tax disclosures by requiring consistent categories and greater disaggregation of information in the rate reconciliation and income taxes paid disaggregated by jurisdiction. The ASU also includes certain other amendments to improve the effectiveness of income tax disclosures. The new guidance will become effective for the Company’s financial statements issued for annual reporting periods beginning on January 1, 2025, will require prospective presentation with an option for entities to apply it retrospectively for each period presented, and early adoption is permitted. Management is currently evaluating the impact of the new standard on the Company’s unaudited Condensed Consolidated Financial Statements. In March 2024, the FASB issued ASU No. 2024-01, Compensation—Stock Compensation (Topic 718): Scope Application of Profits Interest and Similar Awards . The standard is intended to reduce the complexity in determining whether profits interests and similar awards are in the scope of ASC 718 and to reduce diversity in practice. The new guidance applies to all reporting entities that grant profits interest awards or similar awards to employees or nonemployees in exchange for goods or services. The ASU adds an example to ASC 718 that illustrates how to apply the scope guidance to determine whether a profits interest award should be accounted for as a share-based payment arrangement under ASC 718 or another accounting standard. The new guidance will become effective for the Company beginning on January 1, 2025, can be applied either retrospectively to all periods presented or prospectively to profits interest awards granted or modified on or after the adoption date, and early adoption is permitted. Management is currently evaluating the impact of the new standard on the Company’s unaudited Condensed Consolidated Financial Statements. In March 2024, the FASB issued ASU No. 2024-02, Codification Improvements—Amendments to Remove References to the Concepts Statements . The Conceptual Framework establishes concepts that the Board considers in developing standards. The ASU was issued to remove references to the Conceptual Framework in the Codification. The FASB noted that references to the Concepts Statements in the Codification could have implied that the Concepts Statements are authoritative. Also, some of the references removed were to Concepts Statements that are superseded. The new guidance will become effective for the Company beginning on January 1, 2025, can be applied either retrospectively to all periods presented or prospectively to all new transactions recognized on or after the adoption date, and early adoption is permitted. Management is currently evaluating the impact of the new standard on the Company’s unaudited Condensed Consolidated Financial Statements.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Calculation of Basic Earnings Per Share	The following is the calculation of the Company’s basic EPS (in thousands, except per share data): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Basic earnings (loss) per share: Net income (loss) available to common stockholders $ 37,828 $ (19,704) $ 87,038 $ (726) Less: Dividends declared and allocation of undistributed earnings to participating securities (1,774) — (4,536) — Net income (loss) attributable to common stockholders $ 36,054 $ (19,704) $ 82,502 $ (726) Basic weighted-average shares of common stock outstanding 475,272 391,745 472,895 383,528 Basic earnings (loss) per share $ 0.08 $ (0.05) $ 0.17 $ —
Calculation of Fully Diluted Earnings Per Share	The following is the calculation of the Company’s fully diluted EPS (in thousands, except per share data): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Fully diluted earnings (loss) per share: Net income (loss) attributable to common stockholders $ 36,054 $ (19,704) $ 82,502 $ (726) Add back: Allocations of undistributed earnings to participating securities 1,438 — 3,994 — Less: Reallocation of undistributed earnings to participating securities (1,422) — (3,943) — Net income (loss) for fully diluted shares $ 36,070 $ (19,704) $ 82,553 $ (726) Weighted-average shares: Common stock outstanding 475,272 391,745 472,895 383,528 Other 1 5,589 — 6,522 — Fully diluted weighted-average shares of common stock outstanding 480,861 391,745 479,417 383,528 Fully diluted earnings (loss) per share $ 0.08 $ (0.05) $ 0.17 $ — ____________________________ 1 Primarily consists of contracts to issue shares of BGC common stock.

Stock Transactions and Unit R_2

Stock Transactions and Unit Redemptions (Tables)	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Changes in Shares of Class A Common Stock Outstanding	Changes in shares of BGC Class A common stock outstanding were as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Shares outstanding at beginning of period 385,134 340,875 390,095 325,858 Share issuances: Redemptions/exchanges of limited partnership interests and contingent share obligations¹ 753 17,082 1,118 30,226 Vesting of RSUs 1,975 534 5,685 2,630 Acquisitions — 3,494 472 4,152 Other issuances of BGC Class A common stock 2,450 (3) 4,829 11 Restricted stock forfeitures (36) (190) (673) (239) Treasury stock repurchases (10,688) (9,814) (21,938) (10,660) Shares outstanding at end of period 2 379,588 351,978 379,588 351,978 ____________________________ 1 Contingent share obligations include shares of BGC Class A common stock issued to terminated employees per their respective separation agreements. Included in redemptions/exchanges of limited partnership interests and contingent share obligations for the three months ended June 30, 2024 and 2023 are 0.8 million shares of BGC Class A common stock granted in connection with 0.8 million contingent share obligations, and 13.3 million shares of BGC Class A common stock granted in connection with the cancellation of 19.1 million LPUs, respectively. Included in redemptions/exchanges of limited partnership interests and contingent share obligations for the six months ended June 30, 2024 and 2023 are 1.1 million shares of BGC Class A common stock granted in connection with 1.2 million contingent share obligations, and 20.2 million shares of BGC Class A common stock granted in connection with the cancellation of 26.4 million LPUs, respectively. Because LPUs were included in the Company’s fully diluted share count, if dilutive, redemptions/exchanges of LPUs in connection with the issuance of BGC Class A common stock did not impact the fully diluted number of shares outstanding. 2 Shares outstanding at end of the period, June 30, 2024, includes 15.9 million shares of certain restricted stock awards that do not receive dividends until their respective vesting and contingent conditions are met. These restricted stock awards do have voting rights.
Gross Unit Redemptions and Share Repurchases of Class A Common Stock	The tables below represent the units redeemed and/or the shares repurchased for cash or withheld to satisfy tax liabilities due upon the vesting of restricted stock and do not include units redeemed/cancelled in connection with the grant of shares of BGC Class A common stock nor the limited partnership interests exchanged for shares of BGC Class A common stock. The share repurchases of BGC Class A common stock during the three and six months ended June 30, 2024 were as follows (in thousands, except for weighted-average price data): Period Total Number Weighted-Average Price Approximate Dollar Value of Shares That Could Be Repurchased Under the Program at June 30, 2024 Repurchases 1,2 January 1, 2024—March 31, 2024 11,250 $ 7.11 April 1, 2024—April 30, 2024 1,555 7.68 May 1, 2024—May 31, 2024 5,031 8.62 June 1, 2024—June 30, 2024 4,102 8.21 Total Repurchases 21,938 $ 7.70 $ 183,492 ___________________________ 1 During the three months ended June 30, 2024, the Company repurchased 10.7 million shares of BGC Class A common stock for an aggregate price of $89.0 million at a weighted-average price of $8.32 per share. These repurchases include 1.3 million restricted shares vested but withheld described in the following footnote. During the six months ended June 30, 2024, the Company repurchased 21.9 million shares of BGC Class A common stock for an aggregate price of $168.9 million at a weighted-average price of $7.70 per share. These repurchases include 2.7 million restricted shares vested but withheld described in the following footnote. 2 The three months ended June 30, 2024 includes an aggregate of 1.3 million shares withheld to satisfy tax liabilities due upon the vesting of restricted stock. The average price paid per share for such share withholdings is based on the closing price per share on the vesting date of the restricted stock or, if such date is not a trading day, the trading day immediately prior to such vesting date. The fair value of restricted shares vested, withheld to satisfy tax liabilities was $9.6 million at a weighted-average price of $7.61 per share. The six months ended June 30, 2024 includes an aggregate of 2.7 million shares withheld to satisfy tax liabilities due upon the vesting of restricted stock. The average price paid per share for such share withholdings is based on the closing price per share on the vesting date of the restricted stock or, if such date is not a trading day, the trading day immediately prior to such vesting date. The fair value of restricted shares vested, withheld to satisfy tax liabilities was $21.0 million at a weighted-average price of $7.81 per share. The gross unit redemptions and share repurchases of BGC Class A common stock during the three and six months ended June 30, 2023 were as follows (in thousands, except for weighted-average price data): Period Total Number Weighted-Average Price Approximate Dollar Value of Shares That Could Be Redeemed/ Purchased Under the Program at June 30, 2023 Redemptions 1,2 January 1, 2023—March 31, 2023 23 $ 3.90 April 1, 2023—June 30, 2023 422 4.91 Total Redemptions 445 $ 4.85 Repurchases 3,4 January 1, 2023—March 31, 2023 846 $ 4.97 April 1, 2023—April 30, 2023 3,086 4.48 May 1, 2023—May 31, 2023 3,300 4.36 June 1, 2023—June 30, 2023 3,428 4.48 Total Repurchases 10,660 $ 4.48 Total Redemptions and Repurchases 11,105 $ 4.50 $ 326,449 ____________________________ 1 During the three months ended June 30, 2023, the Company redeemed 0.3 million LPUs for an aggregate redemption price of $1.4 million at a weighted-average price of $4.71 per unit. During the three months ended June 30, 2023, the Company redeemed 0.1 million FPUs for an aggregate redemption price of $0.7 million at a weighted-average price of $5.32 per unit. The table above does not include units redeemed/cancelled in connection with the grant of 13.3 million shares of BGC Class A common stock during the three months ended June 30, 2023, nor the limited partnership interests exchanged for 7.1 million shares of BGC Class A common stock during the three months ended June 30, 2023. 2 During the six months ended June 30, 2023, the Company redeemed 0.3 million LPUs for an aggregate redemption price of $1.4 million at a weighted-average price of $4.71 per unit. During the six months ended June 30, 2023, the Company redeemed 0.2 million FPUs for an aggregate redemption price of $0.8 million at a weighted-average price of $5.11 per unit. The table above does not include units redeemed/cancelled in connection with the grant of 20.2 million shares of BGC Class A common stock during the six months ended June 30, 2023, nor the limited partnership interests exchanged for 13.4 million shares of BGC Class A common stock during the six months ended June 30, 2023. 3 During the three months ended June 30, 2023, the Company repurchased 9.8 million shares of BGC Class A common stock for an aggregate price of $43.6 million at a weighted-average price of $4.44 per share. 4 During the six months ended June 30, 2023, the Company repurchased 10.7 million shares of BGC Class A common stock for an aggregate price of $47.8 million at a weighted-average price of $4.48 per share.
Summary of Changes in Carrying Amount of FPUs	The changes in the carrying amount of FPUs were as follows (in thousands): Three Months Ended June 30, 2023 Six Months Ended June 30, 2023 2023 2023 Balance at beginning of period $ 15,423 $ 15,519 Consolidated net income allocated to FPUs — 236 Earnings distributions (236) (236) FPUs exchanged (992) (1,301) FPUs redeemed 311 288 Corporate conversion (14,506) (14,506) Balance at end of period $ — $ —

Receivables from and Payables_2

Receivables from and Payables to Broker-Dealers, Clearing Organizations, Customers and Related Broker-Dealers (Tables)	6 Months Ended
	Jun. 30, 2024
Broker-Dealer [Abstract]
Receivables from and Payables to Broker-Dealers, Clearing Organizations, Customers and Related Broker-Dealers	As of June 30, 2024 and December 31, 2023, Receivables from and payables to broker-dealers, clearing organizations, customers and related broker-dealers consisted of the following (in thousands): June 30, 2024 December 31, 2023 Receivables from broker-dealers, clearing organizations, customers and related broker-dealers 1 : Contract values of fails to deliver $ 812,610 $ 182,094 Receivables from clearing organizations 124,279 135,789 Other receivables from broker-dealers and customers 29,088 28,546 Net pending trades 92,019 — Open derivative contracts 4,592 3,607 Total $ 1,062,588 $ 350,036 Payables to broker-dealers, clearing organizations, customers and related broker-dealers 1 : Contract values of fails to receive $ 752,470 $ 172,231 Payables to clearing organizations 110,389 10,846 Other payables to broker-dealers and customers 16,005 13,357 Net pending trades — 76 Open derivative contracts 1,540 5,756 Total $ 880,404 $ 202,266 ____________________________ 1 Includes receivables and payables with Cantor. See Note 13—“Related Party Transactions” for additional information.

Derivatives (Tables)

Derivatives (Tables)	6 Months Ended
	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair Value of Derivative Contracts	The fair value of derivative contracts, presented in accordance with the Company’s netting policy, is set forth below (in thousands): June 30, 2024 December 31, 2023 Derivative contract Assets Liabilities Notional Amounts 1 Assets Liabilities Notional Amounts 1 FX swaps $ 3,924 $ 1,230 $ 814,972 $ 2,674 $ 5,119 $ 545,669 Forwards 330 310 197,015 805 609 310,880 Futures 275 — 6,342,606 — 28 6,703,624 Interest rate swaps 63 — 124,080,418 128 — 34,272,592 Total $ 4,592 $ 1,540 $ 131,435,011 $ 3,607 $ 5,756 $ 41,832,765 1 Notional amounts represent the sum of gross long and short derivative contracts, an indication of the volume of the Company’s derivative activity, and do not represent anticipated losses.
Summary of Offsetting of Derivative Instruments	The following tables present information about the offsetting of derivative instruments (in thousands): June 30, 2024 Gross Gross Net Amounts Presented in the Statements of Financial Condition 1 Assets FX swaps $ 4,485 $ (561) $ 3,924 Forwards 398 (68) 330 Futures 52,329 (52,054) 275 Interest rate swaps 2,691 (2,628) 63 Total derivative assets $ 59,903 $ (55,311) $ 4,592 Liabilities FX swaps $ 1,791 $ (561) $ 1,230 Forwards 378 (68) 310 Futures 52,054 (52,054) — Interest rate swaps 2,628 $ (2,628) — Total derivative liabilities $ 56,851 $ (55,311) $ 1,540 December 31, 2023 Gross Gross Net Amounts Presented in the Statements of Financial Condition 1 Assets FX swaps $ 3,467 $ (793) $ 2,674 Forwards 855 (50) 805 Interest rate swaps 12,310 (12,182) 128 Futures 62,693 (62,693) — Total derivative assets $ 79,325 $ (75,718) $ 3,607 Liabilities FX swaps $ 5,912 $ (793) $ 5,119 Forwards 659 (50) 609 Futures 62,721 (62,693) 28 Interest rate swaps 12,182 (12,182) — Total derivative liabilities $ 81,474 $ (75,718) $ 5,756 1 There were no additional balances in gross amounts not offset as of either June 30, 2024 or December 31, 2023.
Summary of Gains and (Losses) on Derivative Contracts	The table below summarizes gains and (losses) on derivative contracts (in thousands): Three Months Ended June 30, Six Months Ended June 30, Derivative contract 2024 2023 2024 2023 Futures $ 2,833 $ 3,356 $ 6,639 $ 6,777 Interest rate swaps 1,832 189 3,928 217 FX swaps 558 126 1,056 896 FX/commodities options 57 41 104 82 Gains $ 5,280 $ 3,712 $ 11,727 $ 7,972

Fair Value of Financial Asset_2

Fair Value of Financial Assets and Liabilities (Tables)	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Hierarchy of Financial Assets and Liabilities under U.S. GAAP Guidance	The following tables set forth by level within the fair value hierarchy financial assets and liabilities accounted for at fair value under U.S. GAAP guidance (in thousands): Assets at Fair Value at June 30, 2024 Level 1 Level 2 Level 3 Netting and Total Financial instruments owned, at fair value—Domestic government debt $ 178,142 $ — $ — $ — $ 178,142 Financial instruments owned, at fair value—Foreign government debt — 15,362 — — 15,362 Financial instruments owned, at fair value—Equities 477 — — — 477 Financial instruments owned, at fair value—Corporate bonds — 7 — — 7 FX swaps — 4,485 — (561) 3,924 Forwards — 398 — (68) 330 Futures 52,329 — — (52,054) 275 Interest rate swaps — 2,691 — (2,628) 63 Total $ 230,948 $ 22,943 $ — $ (55,311) $ 198,580 Liabilities at Fair Value at June 30, 2024 Level 1 Level 2 Level 3 Netting and Total FX swaps $ — $ 1,791 $ — $ (561) $ 1,230 Forwards — 378 — (68) 310 Futures 52,054 — — (52,054) — Interest rate swaps — 2,628 — (2,628) — Contingent consideration — — 8,631 — 8,631 Total $ 52,054 $ 4,797 $ 8,631 $ (55,311) $ 10,171 Assets at Fair Value at December 31, 2023 Level 1 Level 2 Level 3 Netting and Total Financial instruments owned, at fair value—Domestic government debt $ 31,141 $ — $ — $ — $ 31,141 Financial instruments owned, at fair value—Foreign government debt — 14,164 — — 14,164 Financial instruments owned, at fair value—Equities 487 — — — 487 FX swaps — 3,467 — (793) 2,674 Forwards — 855 — (50) 805 Interest rate swaps — 12,310 — (12,182) 128 Futures — 62,693 — (62,693) — Total $ 31,628 $ 93,489 $ — $ (75,718) $ 49,399 Liabilities at Fair Value at December 31, 2023 Level 1 Level 2 Level 3 Netting and Total FX swaps $ — $ 5,912 $ — $ (793) $ 5,119 Forwards — 659 — (50) 609 Futures — 62,721 — (62,693) 28 Interest rate swaps — 12,182 — (12,182) — Contingent consideration — — 11,929 — 11,929 Total $ — $ 81,474 $ 11,929 $ (75,718) $ 17,685
Changes in Level 3 Financial Liabilities Measured at Fair Value on Recurring Basis	Changes in Level 3 liabilities measured at fair value on a recurring basis for the three months ended June 30, 2024 were as follows (in thousands): Unrealized (gains) losses Opening Balance at April 1, 2024 Total Unrealized Purchases/ Issuances Sales/ Closing Balance at June 30, 2024 Net (income) loss on Level 3 Assets/Liabilities Outstanding at June 30, 2024 Other comprehensive income (loss) on Level 3 Assets/Liabilities Outstanding at June 30, 2024 Liabilities Accounts payable, accrued and other liabilities: Contingent consideration $ 9,727 $ (96) $ — $ — $ (1,000) $ 8,631 $ (96) $ — ____________________________ 1 Realized and unrealized gains (losses) are reported in “Other income (loss)” in the Company’s unaudited Condensed Consolidated Statements of Operations. 2 Unrealized gains (losses) are reported in “Foreign currency translation adjustments” in the Company’s unaudited Condensed Consolidated Statements of Comprehensive Income (Loss). Changes in Level 3 liabilities measured at fair value on a recurring basis for the three months ended June 30, 2023 were as follows (in thousands): Unrealized (gains) losses Opening Balance at April 1, 2023 Total Unrealized Purchases/ Sales/ Closing Balance at June 30, 2023 Net (income) loss on Level 3 Assets/Liabilities Outstanding at June 30, 2023 Other comprehensive income (loss) on Level 3 Assets/Liabilities Outstanding at June 30, 2023 Liabilities Accounts payable, accrued and other liabilities: Contingent consideration $ 27,673 $ (61) $ — $ — $ (18,703) $ 8,909 $ (209) $ — ____________________________ 1 Realized and unrealized gains (losses) are reported in “ Other income (loss)” in the Company’s unaudited Condensed Consolidated Statements of Operations. 2 Unrealized gains (losses) are reported in “Foreign currency translation adjustments” in the Company’s unaudited Condensed Consolidated Statements of Comprehensive Income (Loss). Changes in Level 3 liabilities measured at fair value on a recurring basis for the six months ended June 30, 2024 were as follows (in thousands): Unrealized (gains) losses Opening Balance at January 1, 2024 Total Unrealized Purchases/ Sales/ Closing Balance at June 30, 2024 Net income (loss) on Level 3 Assets / Liabilities Outstanding at June 30, 2024 Other comprehensive income (loss) on Level 3 Assets / Liabilities Outstanding at June 30, 2024 Liabilities Accounts payable, Contingent consideration $ 11,929 $ (255) $ — $ — $ (3,043) $ 8,631 $ (255) $ — ____________________________ 1 Realized and unrealized gains (losses) are reported in “Other income (loss)” in the Company’s unaudited Condensed Consolidated Statements of Operations. 2 Unrealized gains (losses) are reported in “Foreign currency translation adjustments” in the Company’s unaudited Condensed Consolidated Statements of Comprehensive Income (Loss). Changes in Level 3 liabilities measured at fair value on a recurring basis for the six months ended June 30, 2023 were as follows (in thousands): Unrealized (gains) losses Opening Balance at January 1, 2023 Total Unrealized Purchases/ Sales/ Closing Balance at June 30, 2023 Net income (loss) on Level 3 Assets / Liabilities Outstanding at June 30, 2023 Other comprehensive income (loss) on Level 3 Assets / Liabilities Outstanding at June 30, 2023 Liabilities Accounts payable, Contingent consideration $ 24,279 $ 613 $ — $ 4,675 $ (20,658) $ 8,909 $ 276 $ — ____________________________ 1 Realized and unrealized gains (losses) are reported in “ Other income (loss)” in the Company’s unaudited Condensed Consolidated Statements of Operations. 2 Unrealized gains (losses) are reported in “Foreign currency translation adjustments” in the Company’s unaudited Condensed Consolidated Statements of Comprehensive Income (Loss).
Quantitative Information about Level 3 Fair Value Measurements on Recurring Basis	The following tables present quantitative information about the significant unobservable inputs utilized by the Company in the fair value measurement of Level 3 liabilities measured at fair value on a recurring basis (dollar amounts in thousands): Fair Value as of June 30, 2024 Assets Liabilities Valuation Technique Unobservable Inputs Range Weighted Discount rate 1 7.2%-9.2% 8.6% Contingent consideration $ — $ 8,631 Present value of Probability 20%-100% 86.0% 2 ____________________________ 1 The discount rate is based on the Company’s calculated weighted-average cost of capital. 2 The probability of meeting the earnout targets was based on the acquirees’ projected future financial performance, including revenues. Fair Value as of December 31, 2023 Assets Liabilities Valuation Technique Unobservable Inputs Range Weighted Discount rate 1 7.2%-9.2% 8.6% Contingent consideration $ — $ 11,929 Present value of Probability 20%-100% 86.5% 2 ____________________________ 1 The discount rate is based on the Company’s calculated weighted-average cost of capital. 2 The probability of meeting the earnout targets was based on the acquirees’ projected future financial performance, including revenues.

Investments (Tables)

Investments (Tables)	6 Months Ended
	Jun. 30, 2024
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments And Investments Carried Under the Measurement Alternative	Equity Method Investments and Investments Carried Under the Measurement Alternative (dollar amounts in thousands) Percent Ownership 1 June 30, December 31, 2023 Advanced Markets Holdings 25% $ 4,244 $ 4,481 China Credit BGC Money Broking Company Limited 33% 25,608 21,277 Freedom International Brokerage 45% 8,810 9,507 Other 2,100 2,857 Equity method investments $ 40,762 $ 38,122 Investments carried under measurement alternative 192 192 Total equity method and investments carried under measurement alternative $ 40,954 $ 38,314 _______________________________________ 1 Represents the Company’s voting interest in the equity method investment as of June 30, 2024 and December 31, 2023.
Investments in Variable Interest Entities	The following table sets forth the Company’s investment in its unconsolidated VIE and the maximum exposure to loss (in thousands): June 30, 2024 December 31, 2023 Investment Maximum Exposure to Loss Investment Maximum Exposure to Loss Variable interest entity $ 2,100 $ 2,100 $ 2,857 $ 2,857

Fixed Assets, Net (Tables)

Fixed Assets, Net (Tables)	6 Months Ended
	Jun. 30, 2024
Property, Plant and Equipment [Abstract]
Components of Fixed Assets, Net	Fixed assets, net consisted of the following (in thousands): June 30, 2024 December 31, 2023 Computer and communications equipment $ 107,317 $ 103,621 Software, including software development costs 382,472 360,047 Leasehold improvements and other fixed assets 100,024 99,034 589,813 562,702 Less: accumulated depreciation and amortization (406,926) (384,402) Fixed assets, net $ 182,887 $ 178,300

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets, Net (Tables)	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Changes in Carrying Amount of Goodwill	The changes in the carrying amount of goodwill were as follows (in thousands): Goodwill Balance at December 31, 2023 $ 506,344 Measurement period adjustments 221 Cumulative translation adjustment (1,139) Balance at June 30, 2024 $ 505,426
Components of Other Intangible Assets	Other intangible assets consisted of the following (in thousands, except weighted-average remaining life): June 30, 2024 Gross Accumulated Net Carrying Weighted- Definite life intangible assets: Customer-related $ 210,773 $ 105,289 $ 105,484 9.3 Technology 23,997 23,997 — N/A Noncompete agreements 20,966 20,002 964 2.1 Patents 12,334 10,893 1,441 2.9 All other 19,835 8,155 11,680 10.8 Total definite life intangible assets 287,905 168,336 119,569 9.3 Indefinite life intangible assets: Trade names 79,570 — 79,570 N/A Licenses 2,230 — 2,230 N/A Domain name 454 — 454 N/A Total indefinite life intangible assets 82,254 — 82,254 N/A Total $ 370,159 $ 168,336 $ 201,823 December 31, 2023 Gross Accumulated Net Carrying Weighted- Definite life intangible assets: Customer-related $ 210,655 $ 97,401 $ 113,254 9.7 Technology 23,997 23,997 — N/A Noncompete agreements 20,892 19,322 1,570 2.2 Patents 11,950 10,703 1,247 2.9 All other 20,325 7,364 12,961 10.3 Total definite life intangible assets 287,819 158,787 129,032 9.6 Indefinite life intangible assets: Trade names 79,570 — 79,570 N/A Licenses 2,229 — 2,229 N/A Domain name 454 — 454 N/A Total indefinite life intangible assets 82,253 — 82,253 N/A Total $ 370,072 $ 158,787 $ 211,285
Estimated Future Amortization Expense of Definite Life Intangible Assets	The estimated future amortization expense of definite life intangible assets as of June 30, 2024 is as follows (in millions): 2024 $ 9.0 2025 17.4 2026 17.0 2027 12.7 2028 11.9 2029 and thereafter 51.6 Total $ 119.6

Notes Payable and Other Borro_2

Notes Payable and Other Borrowings (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Summary Notes Payable, Other and Short-term Borrowings	Notes payable and other borrowings consisted of the following (in thousands): June 30, 2024 December 31, 2023 Unsecured senior revolving credit agreement $ — $ 239,180 BGC Group 3.750% Senior Notes due October 1, 2024 255,306 254,814 BGC Partners 3.750% Senior Notes due October 1, 2024 44,444 44,383 BGC Group 4.375% Senior Notes due December 15, 2025 287,096 286,729 BGC Partners 4.375% Senior Notes due December 15, 2025 11,812 11,800 BGC Group 8.000% Senior Notes due May 25, 2028 344,236 343,852 BGC Partners 8.000% Senior Notes due May 25, 2028 2,751 2,748 BGC Group 6.600% Senior Notes due June 10, 2029 495,044 — Total Notes payable and other borrowings 1, 2 $ 1,440,689 $ 1,183,506 __________________________ 1 The Company was in compliance with all debt covenants, as applicable, as of June 30, 2024 and December 31, 2023. 2 Presented net of deferred financing costs, which are recorded in the Company’s unaudited Condensed Consolidated Statements of Financial Condition as a direct reduction of the Notes payable and other borrowings. As of June 30, 2024 and December 31, 2023, total deferred financing costs were $9.3 million and $6.5 million, respectively.
Carrying Amounts and Estimated Fair Values of Company's Senior Notes	The BGC Group Notes and BGC Partners Notes are recorded at amortized cost. The carrying amounts and estimated fair values of the BGC Group Notes and BGC Partners Notes were as follows (in thousands): June 30, 2024 December 31, 2023 Carrying Fair Carrying Fair BGC Group 3.750% Senior Notes due October 1, 2024 $ 255,306 $ 253,717 $ 254,814 $ 249,722 BGC Partners 3.750% Senior Notes due October 1, 2024 44,444 44,159 44,383 43,464 BGC Group 4.375% Senior Notes due December 15, 2025 287,096 281,295 286,729 276,569 BGC Partners 4.375% Senior Notes due December 15, 2025 11,812 11,565 11,800 11,371 BGC Group 8.000% Senior Notes due May 25, 2028 344,236 372,345 343,852 363,274 BGC Partners 8.000% Senior Notes due May 25, 2028 2,751 2,974 2,748 2,901 BGC Group 6.600% Senior Notes due June 10, 2029 495,044 496,940 — — Total $ 1,440,689 $ 1,462,995 $ 944,326 $ 947,301

Compensation (Tables)

Compensation (Tables)	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Compensation Expense	The Company incurred compensation expense related to Class A common stock, LPUs (prior to the Corporate Conversion) and RSUs held by BGC employees as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Issuance of common stock and grants of exchangeability $ 29,943 $ 101,938 $ 63,775 $ 153,904 Allocations of net income and dividend equivalents¹ 1,044 637 2,338 3,017 LPU amortization — 19,447 — 40,878 RSU, RSU Tax Account, and restricted stock amortization 35,220 4,622 96,175 10,218 Equity-based compensation and allocations of net income to limited partnership units and FPUs $ 66,207 $ 126,644 $ 162,288 $ 208,017 ____________________________ 1 Prior to the Corporate Conversion, certain LPUs generally received quarterly allocations of net income, including the Preferred Distribution, and were generally contingent upon services being provided by the unit holders. Subsequent to the Corporate Conversion, this includes dividend equivalents on participating securities, the Preferred Return on certain RSU Tax Accounts, and quarterly allocations of net income, including the Preferred Distribution to LPUs held by BGC employees in Newmark Holdings. Compensation expense related to the issuance of BGC or Newmark Class A common stock and grants of exchangeability on BGC Holdings (prior to the Corporate Conversion) and Newmark Holdings LPUs held by BGC employees is as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Issuance of common stock and grants of exchangeability $ 29,943 $ 101,938 $ 63,775 $ 153,904 Compensation expense related to the amortization of BGC Holdings (prior to the Corporate Conversion) and Newmark Holdings LPUs held by BGC employees is as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Stated vesting schedule $ — $ 19,440 $ — $ 40,848 Post-termination payout — 7 — 30 LPU amortization $ — $ 19,447 $ — $ 40,878 Compensation expense related to RSUs held by BGC employees is as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 RSU amortization $ 21,229 $ 4,622 $ 40,696 $ 10,218
Activity Associated with Limited Partnership Units Held by BGC Employees	A summary of the activity associated with Newmark Holdings LPUs held by BGC employees is as follows (in thousands): Newmark Balance at December 31, 2023 8,779 Granted — Redeemed/exchanged units (338) Forfeited units (8) Balance at June 30, 2024 8,433
Summary of the BGC Holdings and Newmark Holdings LPUs held by BGC Employees	A summary of the Newmark Holdings LPUs held by BGC employees as of June 30, 2024, is as follows (in thousands): Newmark Regular Units 6,517 Preferred Units 1,916 Balance at June 30, 2024 8,433
Activity Associated with Limited Partnership Units Awarded to BGC Employees	A summary of the LPUs redeemed in connection with the issuance of BGC Class A common stock or Newmark Class A common stock (at the then-current Exchange Ratio) or granted exchangeability for BGC Class A common stock or Newmark Class A common stock (at the then-current Exchange Ratio) held by BGC employees is as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 BGC Holdings LPUs — 14,710 — 25,684 Newmark Holdings LPUs 62 100 123 179 Total 62 14,810 123 25,863
Activity Associated with Restricted Stock Units	A summary of the activity associated with RSUs held by BGC employees and directors is as follows (RSUs and fair value amount in thousands): RSUs Weighted- Fair Value Weighted- Balance at December 31, 2023 64,942 $ 4.11 $ 267,015 5.96 Granted 14,122 7.44 105,060 Delivered (7,718) 4.01 (30,935) Forfeited (770) 4.72 (3,635) Balance at June 30, 2024 70,576 $ 4.78 $ 337,505 5.88 A summary of the activity associated with these restricted stock awards held by BGC employees is as follows (restricted stock and dollars in thousands): Restricted Stock Weighted- Fair Value Weighted- Balance at December 31, 2023 27,953 $ 4.20 $ 117,468 2.55 Granted — — — Delivered (10,912) 4.46 (48,659) Forfeited (225) 4.43 (997) Balance at June 30, 2024 16,816 $ 4.03 $ 67,812 0.98

Segment, Geographic and Produ_2

Segment, Geographic and Product Information (Tables)	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Geographic Information Regarding Revenues	Information regarding revenues is as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Revenues: U.K. $ 192,183 $ 174,334 $ 401,771 $ 365,518 U.S. 180,562 162,387 362,648 331,724 Asia 73,093 67,729 146,938 139,100 Other Europe/MEA 63,546 44,270 131,440 99,159 France 23,345 25,407 50,603 52,545 Other Americas 18,032 18,953 35,975 37,901 Total revenues $ 550,761 $ 493,080 $ 1,129,375 $ 1,025,947
Information Regarding Long-Lived Assets in Geographic Areas	Information regarding long-lived assets (defined as loans, forgivable loans and other receivables from employees and partners, net; fixed assets, net; ROU assets; certain other investments; rent and other deposits; excluding goodwill and other intangible assets, net of accumulated amortization) in the geographic areas is as follows (in thousands): June 30, December 31, 2023 Long-lived assets: U.K. $ 292,726 $ 306,085 U.S. 239,776 220,050 Asia 86,516 75,496 Other Europe/MEA 74,942 64,865 France 14,674 14,260 Other Americas 5,597 5,900 Total long-lived assets $ 714,231 $ 686,656
Product Information Regarding Revenues	Product information regarding revenues is as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Revenues: Rates $ 166,044 $ 144,209 $ 341,129 $ 308,946 ECS 117,743 98,688 236,207 188,347 FX 88,946 77,527 172,969 157,685 Credit 69,381 65,806 156,973 155,355 Equities 51,406 57,373 114,263 125,487 Total brokerage revenues $ 493,520 $ 443,603 $ 1,021,541 $ 935,820 All other revenues 57,241 49,477 107,834 90,127 Total revenues $ 550,761 $ 493,080 $ 1,129,375 $ 1,025,947

Revenues from Contracts with _2

Revenues from Contracts with Customers (Tables)	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Summary of Revenues from Contracts with Customers and Other Sources of Revenues	The following table presents the Company’s total revenues separated between revenues from contracts with customers and other sources of revenues (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Revenues from contracts with customers: Commissions $ 395,081 $ 348,720 $ 810,253 $ 726,008 Data, network and post-trade 30,812 27,000 61,715 54,122 Fees from related parties 4,643 4,062 9,064 8,019 Other revenues 4,435 4,856 7,552 7,310 Total revenues from contracts with customers 434,971 384,638 888,584 795,459 Other sources of revenues: Principal transactions 98,439 94,883 211,288 209,812 Interest and dividend income 17,145 13,371 26,909 18,686 Other revenues 206 188 2,594 1,990 Total revenues $ 550,761 $ 493,080 $ 1,129,375 $ 1,025,947

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Schedule of Supplemental Information Related to Operating Leases	Supplemental information related to the Company’s operating and financing leases are as follows (dollar amounts in thousands): Classification in June 30, 2024 December 31, 2023 Assets Operating lease ROU assets Other assets $ 121,788 $ 124,165 Finance lease ROU assets Fixed assets, net $ 3,611 $ 4,264 Liabilities Operating lease liabilities Accounts payable, $ 146,043 $ 149,640 Finance lease liabilities Accounts payable, $ 3,996 $ 4,721
Schedule of Weighted-Average Remaining Lease Term and Discount Rate	June 30, 2024 December 31, 2023 Weighted-average remaining lease term Operating leases (years) 7.0 7.3 Finance leases (years) 2.9 3.4 Weighted-average discount rate Operating leases 4.9 % 5.0 % Finance leases 4.3 % 4.3 %
Schedule of Components of Lease Expense	The components of lease expense are as follows (in thousands): Classification in Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Operating lease cost 1 Occupancy and $ 8,153 $ 7,993 $ 16,598 $ 16,846 Finance lease cost Amortization on ROU assets Occupancy and equipment $ 326 $ 326 $ 653 $ 653 Interest on lease liabilities Interest expense $ 44 $ 56 $ 91 $ 116 __________________________ 1 Short-term lease expense was not material for the three and six months ended June 30, 2024 and 2023.
Schedule of Maturity Analysis of Operating Lease Liabilities	The following table shows the Company’s maturity analysis of its operating and finance lease liabilities (in thousands): June 30, 2024 Operating leases Finance leases 2024 (excluding the six months ended June 30, 2024) $ 16,693 $ 785 2025 29,900 1,448 2026 22,941 1,290 2027 21,661 627 2028 15,371 — Thereafter 79,387 — Total $ 185,953 $ 4,150 Interest (39,910) (154) Total $ 146,043 $ 3,996
Schedule of Maturity Analysis of Finance Lease Liabilities	The following table shows the Company’s maturity analysis of its operating and finance lease liabilities (in thousands): June 30, 2024 Operating leases Finance leases 2024 (excluding the six months ended June 30, 2024) $ 16,693 $ 785 2025 29,900 1,448 2026 22,941 1,290 2027 21,661 627 2028 15,371 — Thereafter 79,387 — Total $ 185,953 $ 4,150 Interest (39,910) (154) Total $ 146,043 $ 3,996
Schedule of Cash Flow Information Related to Lease Liabilities	The following table shows cash flow information related to lease liabilities (in thousands): Three Months Ended June 30, Six Months Ended June 30, Cash paid for amounts included in the measurement of lease liabilities 2024 2023 2024 2023 Operating cash flows from operating lease liabilities $ 9,581 $ 8,485 $ 18,944 $ 18,089 Operating cash flows from finance lease liabilities $ 44 $ 56 $ 91 $ 116 Financing cash flows from finance lease liabilities $ 318 $ 305 $ 633 $ 608

Current Expected Credit Losse_2

Current Expected Credit Losses (CECL) (Tables)	6 Months Ended
	Jun. 30, 2024
Credit Loss [Abstract]
Schedule of Current Expected Credit Losses	During the three and six months ended June 30, 2024 and 2023, the Company recorded changes in the allowance for credit losses as follows (in millions): Accrued commissions and other receivables, net Loans, forgivable loans and other receivables from employees and partners, net Receivables from broker-dealers, clearing organizations, customers and related broker-dealers Total Beginning balance, April 1, 2024 $ 5.9 $ 2.3 $ 19.5 $ 27.7 Current-period provision for expected credit losses 0.1 — 2.2 2.3 Release of allowance for expected credit losses $ — $ (2.3) $ — $ (2.3) Ending balance, June 30, 2024 $ 6.0 $ — $ 21.7 $ 27.7 Accrued commissions and other receivables, net Loans, forgivable loans and other receivables from employees and partners, net Receivables from broker-dealers, clearing organizations, customers and related broker-dealers Total Beginning balance, January 1, 2024 $ 5.0 $ 2.3 $ 18.9 $ 26.2 Current-period provision for expected credit losses 1.0 — 2.8 3.8 Release of allowance for expected credit losses $ — $ (2.3) $ — $ (2.3) Ending balance, June 30, 2024 $ 6.0 $ — $ 21.7 $ 27.7 Accrued commissions and other receivables, net Loans, forgivable loans and other receivables from employees and partners, net Receivables from broker-dealers, clearing organizations, customers and related broker-dealers Total Beginning balance, April 1, 2023 $ 5.4 $ 2.4 $ 9.0 $ 16.8 Current-period provision for expected credit losses (0.3) — 2.0 1.7 Ending balance, June 30, 2023 $ 5.1 $ 2.4 $ 11.0 $ 18.5 Accrued commissions and other receivables, net Loans, forgivable loans and other receivables from employees and partners, net Receivables from broker-dealers, clearing organizations, customers and related broker-dealers Total Beginning balance, January 1, 2023 $ 5.4 $ 2.5 $ 7.0 $ 14.9 Current-period provision for expected credit losses $ (0.3) $ (0.1) $ 4.0 $ 3.6 Ending balance, June 30, 2023 $ 5.1 $ 2.4 $ 11.0 $ 18.5

Limited Partnership Interests_2

Limited Partnership Interests in BGC Holdings and Newmark Holdings - Narrative (Detail)		6 Months Ended
	Jul. 01, 2023 shares	Jun. 30, 2024 installment partnership	Jun. 05, 2015
Related Party Transaction [Line Items]
Number of operating partnerships | partnership		2
Conversion of stock, shares converted (in shares)	64,000,000
Minimum number of shares required to be issued (in shares)	75,000,000
Limited partnership interest, conversion ratio			1
Number of installments | installment		4
LPUs
Related Party Transaction [Line Items]
Limited partnership interests exchange ratio		0.9248
Newmark Holdings
Related Party Transaction [Line Items]
Calculation of contribution ratio, denominator		2.2
Limited partnership interest, conversion ratio		1
Percentage of preferred partnership units awarded		0.6875%
Percentage of preferred partnership units awarded per calendar year		2.75%
BGC Holdings
Related Party Transaction [Line Items]
Limited partnership interest, conversion ratio		1
Percentage of preferred partnership units awarded		0.6875%
Percentage of preferred partnership units awarded per calendar year		2.75%

Organization and Basis of Pre_3

Organization and Basis of Presentation (Details) - USD ($)			3 Months Ended		6 Months Ended
	Jul. 01, 2023	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Related Party Transaction [Line Items]
Total number of shares (in shares)		0
Conversion of stock, shares converted (in shares)	64,000,000
Minimum number of shares required to be issued (in shares)	75,000,000
Stock Purchased On 6/30/2023
Related Party Transaction [Line Items]
Conversion of stock, shares converted (in shares)	5,700,000
Class A Common Stock
Related Party Transaction [Line Items]
Shares granted in period (in shares)	600,000,000
Share-based payment arrangement, decrease for tax withholding obligation			$ 10,300,000		$ 21,200,000
Issuance of common stock (in shares)			122,220	166,280	168,894	179,583
Common stock, shares authorized (in shares)	1,500,000,000		1,500,000,000		1,500,000,000		1,500,000,000
Common stock, par value (in dollars per share)			$ 0.01		$ 0.01		$ 0.01
Class A Common Stock | BGC Partners
Related Party Transaction [Line Items]
Common stock, par value (in dollars per share)	$ 0.01
Class A Common Stock | BGC Group
Related Party Transaction [Line Items]
Common stock, par value (in dollars per share)	$ 0.01
Class B Common Stock
Related Party Transaction [Line Items]
Issuance of common stock (in shares)	64,000,000		0	0	0	0
Common stock, shares authorized (in shares)	300,000,000		300,000,000		300,000,000		300,000,000
Common stock, par value (in dollars per share)			$ 0.01		$ 0.01		$ 0.01
Class B Common Stock | BGC Partners
Related Party Transaction [Line Items]
Common stock, par value (in dollars per share)	$ 0.01
Class B Common Stock | BGC Group
Related Party Transaction [Line Items]
Common stock, par value (in dollars per share)	$ 0.01
Related Party
Related Party Transaction [Line Items]
Issuance of common stock (in shares)			0	0	0	0
Non-exchangeable Limited Partnership Interests
Related Party Transaction [Line Items]
Share-based payment arrangement, expense		$ 60,900,000
Exchangeable Limited Partnership Units | Related Party
Related Party Transaction [Line Items]
Shares redeemed in period (in shares)		1,500,000
Share-Based Payment Arrangement | Related Party | Class A Common Stock
Related Party Transaction [Line Items]
Shares granted in period (in shares)		1,000,000
Restricted Stock Units (RSUs)
Related Party Transaction [Line Items]
Shares granted in period (in shares)	25,300,000
Share-based payment arrangement, decrease for tax withholding obligation	$ 74,000,000	$ 49,200,000
Corporate conversion, exchange ratio (in shares)		1		1		1
Restricted Stock Units (RSUs) | Related Party
Related Party Transaction [Line Items]
Shares granted in period (in shares)		16,900,000
Non-exchangeable FPUs | Related Party
Related Party Transaction [Line Items]
Shares redeemed in period (in shares)		5,600,000
FPU | Related Party
Related Party Transaction [Line Items]
Shares redeemed in period (in shares)		5,425,209
Shares exchanged in period (in shares)		324,223
Cantor Units | Related Party
Related Party Transaction [Line Items]
Shares redeemed in period (in shares)		324,223
Cantor Units | Related Party | Cantor
Related Party Transaction [Line Items]
Shares redeemed in period (in shares)		5,425,209
Shares redeemed in period, value		$ 9,715,772
FPU & Cantor Units | Related Party
Related Party Transaction [Line Items]
Shares redeemed in period, value		$ 598,712
Restricted Shares
Related Party Transaction [Line Items]
Share-based payment arrangement, expense			$ 8,900,000		$ 44,300,000
Restricted Shares | Maximum
Related Party Transaction [Line Items]
Shares granted in period (in shares)	38,600,000

Acquisitions (Details)

Acquisitions (Details) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2024 acquisition	Dec. 31, 2023 USD ($)
Business Combinations [Abstract]
Number of businesses acquired | acquisition	0
Total consideration transferred		$ 71
Goodwill, acquired during period, including measurement adjustments		$ 18.7

Divestitures (Details)

Divestitures (Details) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Discontinued Operations and Disposal Groups [Abstract]
Gain (loss) on sale of investments	$ 0	$ 0
Gain (loss) on divestitures and sale of investments	$ 0	$ 0

Earnings Per Share - Calculatio

Earnings Per Share - Calculation of Basic Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Basic earnings (loss) per share:
Net income (loss) available to common stockholders	$ 37,828	$ (19,704)	$ 87,038	$ (726)
Less: Dividends declared and allocation of undistributed earnings to participating securities	(1,774)	0	(4,536)	0
Net income (loss) attributable to common stockholders	$ 36,054	$ (19,704)	$ 82,502	$ (726)
Basic weighted-average shares of common stock outstanding (in shares)	475,272	391,745	472,895	383,528
Basic earnings (loss) per share (in dollars per share)	$ 0.08	$ (0.05)	$ 0.17	$ 0

Earnings Per Share - Calculat_2

Earnings Per Share - Calculation of Fully Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Fully diluted earnings (loss) per share:
Net income (loss) attributable to common stockholders	$ 36,054	$ (19,704)	$ 82,502	$ (726)
Add back: Allocations of undistributed earnings to participating securities	1,438	0	3,994	0
Less: Reallocation of undistributed earnings to participating securities	(1,422)	0	(3,943)	0
Net income (loss) for fully diluted shares	$ 36,070	$ (19,704)	$ 82,553	$ (726)
Weighted-average shares:
Common stock outstanding (in shares)	475,272	391,745	472,895	383,528
Other (in shares)	5,589	0	6,522	0
Fully diluted weighted-average shares of common stock outstanding (in shares)	480,861	391,745	479,417	383,528
Fully diluted earnings (loss) per share (in dollars per share)	$ 0.08	$ (0.05)	$ 0.17	$ 0

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Detail) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earnings per share amount (in shares)	15.9	114.2	15.9	120
Contingent Class A Common Stock | BGC Holdings Partnership Unit
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earnings per share amount (in shares)			63.1	39.6
Contingent Class A Common Stock | Limited Partnership Unit
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earnings per share amount (in shares)			63.1	39.6
Contingent Class A Common Stock | N Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earnings per share amount (in shares)			63.1	39.6
Restricted Stock Units (RSUs)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earnings per share amount (in shares)	15.5		15
Restricted Stock Units (RSUs) | Contingent Class A Common Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earnings per share amount (in shares)			63.1	39.6
Earnings RSAs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earnings per share amount (in shares)	0.4		0.9

Stock Transactions and Unit R_3

Stock Transactions and Unit Redemptions - Changes in Shares of Class A Common Stock Outstanding (Detail) - shares	1 Months Ended					3 Months Ended				6 Months Ended
	Jun. 30, 2024	May 31, 2024	Apr. 30, 2024	Jun. 30, 2023	Apr. 30, 2023	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Share issuances:
Redemptions/exchanges of limited partnership interests (in shares)								15,974,143			29,118,664
Treasury stock repurchases (in shares)	(4,102,000)	(5,031,000)	(1,555,000)	(3,428,000)	(3,086,000)	(10,688,000)	(11,250,000)	(9,814,000)	(846,000)	(21,938,000)	(10,660,000)
Contingent restricted stock issued (in shares)										15,900,000
Limited Partnership
Share issuances:
Number of units redeemed and cancelled for exchange (in shares)						800,000		19,100,000		1,200,000	26,400,000
Class A Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares outstanding at beginning of period (in shares)			385,134,000		340,875,000	385,134,000	390,095,000	340,875,000	325,858,000	390,095,000	325,858,000
Share issuances:
Redemptions/exchanges of limited partnership interests (in shares)						753,000		17,082,000		1,118,000	30,226,000
Vesting of RSUs (in shares)						1,975,000		534,000		5,685,000	2,630,000
Acquisitions (in shares)						0		3,494,000		472,255	4,152,000
Other issuances of BGC class A common stock (in shares)						2,450,000		(3,000)		4,829,000	11,000
Restricted stock forfeitures (in shares)						(36,465)		(189,726)		(672,632)	(238,927)
Treasury stock repurchases (in shares)						(9,431,127)		(9,813,827)		(19,251,407)	(10,659,717)
Shares outstanding at end of period (in shares)	379,588,000			351,978,000		379,588,000	385,134,000	351,978,000	340,875,000	379,588,000	351,978,000
Conversion, shares issued (in shares)						800,000		13,300,000		1,100,000	20,200,000

Stock Transactions and Unit R_4

Stock Transactions and Unit Redemptions - Narrative (Detail) - USD ($) $ in Thousands				3 Months Ended		6 Months Ended
	Jul. 03, 2023	Jul. 01, 2023	Mar. 08, 2021	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022	Nov. 04, 2022
Class of Stock [Line Items]
Stock repurchase program and unit redemption remaining authorized amount				$ 183,492	$ 326,449	$ 183,492	$ 326,449
Redeemable partnership interest				$ 0	$ 0	$ 0	$ 0		$ 15,423	$ 15,519
July 2023 Sales Agereement
Class of Stock [Line Items]
Payment percentage of the gross proceeds from the sale of shares	2%
Class B Common Stock
Class of Stock [Line Items]
Common stock, issued during the period (in shares)		64,000,000		0	0	0	0
Common stock, shares outstanding (in shares)				109,452,953	45,900,000	109,452,953	45,900,000	109,452,953
Common stock, shares issued (in shares)				109,452,953		109,452,953		109,452,953
Common stock value				$ 1,095		$ 1,095		$ 1,095
Class A Common Stock
Class of Stock [Line Items]
Common stock, issued during the period (in shares)				122,220	166,280	168,894	179,583
Common stock, shares outstanding (in shares)				379,588,254		379,588,254		390,094,988
Aggregate proceeds from issuance of common stock			$ 300,000
Common stock, shares issued (in shares)				415,375,478		415,375,478		403,574,835
Stock repurchase program, authorized amount		$ 400,000									$ 400,000
Stock repurchase program and unit redemption remaining authorized amount				$ 183,500		$ 183,500
Common stock value				$ 4,153		$ 4,153		$ 4,036
Class A Common Stock | August 2022 Sales Agreement
Class of Stock [Line Items]
Common stock, shares issued (in shares)				0		0

Stock Transactions and Unit R_5

Stock Transactions and Unit Redemptions - Gross Unit Redemptions and Share Repurchases of Class A Common Stock (Detail) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended						3 Months Ended				6 Months Ended
	Jun. 30, 2024	May 31, 2024	Apr. 30, 2024	Jun. 30, 2023	May 31, 2023	Apr. 30, 2023	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Class of Stock [Line Items]
Redemptions (in shares)					3,300,000				422,000	23,000		445,000
Repurchases (in shares)	4,102,000	5,031,000	1,555,000	3,428,000		3,086,000	10,688,000	11,250,000	9,814,000	846,000	21,938,000	10,660,000
Redemptions, weighted average price paid per unit or share (in dollars per share)					$ 4.36				$ 4.91	$ 3.90		$ 4.85
Repurchases, weighted average price paid per unit or shares (in dollars per share)	$ 8.21	$ 8.62	$ 7.68	$ 4.48		$ 4.48		$ 7.11		$ 4.97	$ 7.70	$ 4.48
Total redemptions and repurchases (in shares)												11,105,000
Total redemptions and repurchases, weighted average price paid per unit or shares (in dollars per share)												$ 4.50
Approximate Dollar Value of Shares That Could Be Repurchased Under the Program at June 30, 2024	$ 183,492			$ 326,449			$ 183,492		$ 326,449		$ 183,492	$ 326,449
Aggregate purchase price of Class A common stock											$ 148,117	$ 46,481
Shares withheld to satisfy tax liabilities (in shares)							1,300,000				2,700,000
Weighted-average price of shares withheld for tax liabilities (in dollars per share)							$ 7.61				$ 7.81
Weighted-average price for redemption of limited partnership units (in dollars per share)									$ 4.71			$ 4.71
Class A Common Stock
Class of Stock [Line Items]
Repurchases (in shares)							9,431,127		9,813,827		19,251,407	10,659,717
Approximate Dollar Value of Shares That Could Be Repurchased Under the Program at June 30, 2024	$ 183,500						$ 183,500				$ 183,500
Conversion, shares issued (in shares)							800,000		13,300,000		1,100,000	20,200,000
Stock issued during period, shares, exchange of units									7,100,000			13,400,000
Stock repurchased during period (in shares)							10,700,000		9,800,000		21,900,000	10,700,000
Aggregate purchase price of Class A common stock							$ 89,000		$ 43,600		$ 168,900	$ 47,800
Stock repurchased, weighted average price (in dollars per share)							$ 8.32		$ 4.44		$ 7.70	$ 4.48
Share-based payment arrangement, decrease for tax withholding obligation							$ 10,300				$ 21,200
Restricted Shares
Class of Stock [Line Items]
Share-based payment arrangement, decrease for tax withholding obligation							$ 9,600				$ 21,000
Limited Partnership
Class of Stock [Line Items]
Redeemed limited partnership units (in shares)									300,000			300,000
Aggregate redemption price of limited partnership units									$ 1,400			$ 1,400
FPUs
Class of Stock [Line Items]
Redeemed limited partnership units (in shares)									100,000			200,000
Aggregate redemption price of limited partnership units									$ 700			$ 800
Weighted-average price for redemption of founding/working partner units (in dollars per share)									$ 5.32			$ 5.11

Stock Transactions and Unit R_6

Stock Transactions and Unit Redemptions - Summary of Changes in Carrying Amount of FPUs (Detail) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023
Redeemable Partnership Interest [Roll Forward]
Balance at beginning of period	$ 15,423	$ 15,519
Consolidated net income allocated to FPUs	0	236
Earnings distributions	(236)	(236)
FPUs exchanged	(992)	(1,301)
FPUs redeemed	311	288
Corporate conversion	(14,506)	(14,506)
Balance at end of period	$ 0	$ 0

Financial Instruments Owned, _2

Financial Instruments Owned, at Fair Value - Narrative (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Aggregate securities owned	$ 193,988,000		$ 193,988,000		$ 45,792,000
Unrealized gains (losses)	$ 0	$ 0	$ 0	$ 0

Collateralized Transactions (De

Collateralized Transactions (Detail) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Securities Financing Transactions Disclosures [Abstract]
Repurchase agreements	$ 6,581,000	$ 0
Reverse repurchase agreements	$ 0	$ 0

Receivables from and Payables_3

Receivables from and Payables to Broker-Dealers, Clearing Organizations, Customers and Related Broker-Dealers (Detail) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Receivables from broker-dealers, clearing organizations, customers and related broker-dealers
Contract values of fails to deliver	$ 812,610	$ 182,094
Receivables from clearing organizations	124,279	135,789
Other receivables from broker-dealers and customers	29,088	28,546
Net pending trades	92,019	0
Open derivative contracts	4,592	3,607
Total	1,062,588	350,036
Payables to broker-dealers, clearing organizations, customers and related broker-dealers
Contract values of fails to receive	752,470	172,231
Payables to clearing organizations	110,389	10,846
Other payables to broker-dealers and customers	16,005	13,357
Net pending trades	0	76
Open derivative contracts	1,540	5,756
Total	$ 880,404	$ 202,266

Derivatives - Fair Value of Der

Derivatives - Fair Value of Derivative Contracts (Detail) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	$ 4,592	$ 3,607
Liabilities	1,540	5,756
Notional Amounts	131,435,011	41,832,765
FX swaps
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	3,924	2,674
Liabilities	1,230	5,119
Notional Amounts	814,972	545,669
Interest rate swaps
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	63	128
Liabilities	0	0
Notional Amounts	124,080,418	34,272,592
Forwards
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	330	805
Liabilities	310	609
Notional Amounts	197,015	310,880
Futures
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	275	0
Liabilities	0	28
Notional Amounts	$ 6,342,606	$ 6,703,624

Derivatives - Narrative (Detail

Derivatives - Narrative (Detail) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Replacement cost of contracts in a gain position	$ 4.6	$ 3.6

Derivatives - Offsetting of Der

Derivatives - Offsetting of Derivative Instruments (Detail) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Offsetting Assets [Line Items]
Gross amounts, assets	$ 59,903,000	$ 79,325,000
Gross amounts offset, assets	(55,311,000)	(75,718,000)
Net amounts presented in the statements of financial condition, assets	4,592,000	3,607,000
Gross amounts, liabilities	56,851,000	81,474,000
Gross amounts offset, liabilities	(55,311,000)	(75,718,000)
Net amounts presented in the statements of financial condition, liabilities	1,540,000	5,756,000
Additional balance in gross amounts not offset	0	0
FX swaps
Offsetting Assets [Line Items]
Gross amounts, assets	4,485,000	3,467,000
Gross amounts offset, assets	(561,000)	(793,000)
Net amounts presented in the statements of financial condition, assets	3,924,000	2,674,000
Gross amounts, liabilities	1,791,000	5,912,000
Gross amounts offset, liabilities	(561,000)	(793,000)
Net amounts presented in the statements of financial condition, liabilities	1,230,000	5,119,000
Interest rate swaps
Offsetting Assets [Line Items]
Gross amounts, assets	2,691,000	12,310,000
Gross amounts offset, assets	(2,628,000)	(12,182,000)
Net amounts presented in the statements of financial condition, assets	63,000	128,000
Gross amounts, liabilities	2,628,000	12,182,000
Gross amounts offset, liabilities	(2,628,000)	(12,182,000)
Net amounts presented in the statements of financial condition, liabilities	0	0
Forwards
Offsetting Assets [Line Items]
Gross amounts, assets	398,000	855,000
Gross amounts offset, assets	(68,000)	(50,000)
Net amounts presented in the statements of financial condition, assets	330,000	805,000
Gross amounts, liabilities	378,000	659,000
Gross amounts offset, liabilities	(68,000)	(50,000)
Net amounts presented in the statements of financial condition, liabilities	310,000	609,000
Futures
Offsetting Assets [Line Items]
Gross amounts, assets	52,329,000	62,693,000
Gross amounts offset, assets	(52,054,000)	(62,693,000)
Net amounts presented in the statements of financial condition, assets	275,000	0
Gross amounts, liabilities	52,054,000	62,721,000
Gross amounts offset, liabilities	(52,054,000)	(62,693,000)
Net amounts presented in the statements of financial condition, liabilities	$ 0	$ 28,000

Derivatives - Summary of Gains

Derivatives - Summary of Gains and (Losses) on Derivative Contracts (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (loss), net on derivative contract	$ 5,280	$ 3,712	$ 11,727	$ 7,972
Interest rate swaps
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (loss), net on derivative contract	1,832	189	3,928	217
FX swaps
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (loss), net on derivative contract	558	126	1,056	896
FX/commodities options
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (loss), net on derivative contract	57	41	104	82
Futures
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (loss), net on derivative contract	$ 2,833	$ 3,356	$ 6,639	$ 6,777

Fair Value of Financial Asset_3

Fair Value of Financial Assets and Liabilities - Fair Value Hierarchy of Financial Assets and Liabilities under U.S. GAAP Guidance (Detail) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Net amounts of recognized assets
Financial instruments owned, at fair value—Domestic government debt	$ 178,142	$ 31,141
Financial instruments owned, at fair value—Foreign government debt	15,362	14,164
Financial instruments owned, at fair value—Equities	477	487
Financial instruments owned, at fair value—Corporate bonds	7
Netting and Collateral	(55,311)	(75,718)
Net amounts presented in the statements of financial condition, assets	4,592	3,607
Total	198,580	49,399
Net amounts of recognized liabilities
Netting and Collateral	(55,311)	(75,718)
Net amounts presented in the statements of financial condition, liabilities	1,540	5,756
Contingent consideration	8,631	11,929
Total	10,171	17,685
FX swaps
Net amounts of recognized assets
Netting and Collateral	(561)	(793)
Net amounts presented in the statements of financial condition, assets	3,924	2,674
Net amounts of recognized liabilities
Netting and Collateral	(561)	(793)
Net amounts presented in the statements of financial condition, liabilities	1,230	5,119
Forwards
Net amounts of recognized assets
Netting and Collateral	(68)	(50)
Net amounts presented in the statements of financial condition, assets	330	805
Net amounts of recognized liabilities
Netting and Collateral	(68)	(50)
Net amounts presented in the statements of financial condition, liabilities	310	609
Interest rate swaps
Net amounts of recognized assets
Netting and Collateral	(2,628)
Net amounts presented in the statements of financial condition, assets	63	128
Net amounts of recognized liabilities
Netting and Collateral	(2,628)	(12,182)
Net amounts presented in the statements of financial condition, liabilities	0	0
Futures
Net amounts of recognized assets
Netting and Collateral	(52,054)	(62,693)
Net amounts presented in the statements of financial condition, assets	275	0
Net amounts of recognized liabilities
Netting and Collateral	(52,054)	(62,693)
Net amounts presented in the statements of financial condition, liabilities	0	28
Level 1
Net amounts of recognized assets
Financial instruments owned, at fair value—Domestic government debt	178,142	31,141
Financial instruments owned, at fair value—Foreign government debt	0	0
Financial instruments owned, at fair value—Equities	477	487
Financial instruments owned, at fair value—Corporate bonds	0
Total	230,948	31,628
Net amounts of recognized liabilities
Contingent consideration	0	0
Total	52,054	0
Level 1 | FX swaps
Net amounts of recognized assets
Derivative asset	0	0
Net amounts of recognized liabilities
Derivative liability	0	0
Level 1 | Forwards
Net amounts of recognized assets
Derivative asset	0	0
Net amounts of recognized liabilities
Derivative liability	0	0
Level 1 | Interest rate swaps
Net amounts of recognized assets
Derivative asset	0	0
Net amounts of recognized liabilities
Derivative liability	0	0
Level 1 | Futures
Net amounts of recognized assets
Derivative asset	52,329	0
Net amounts of recognized liabilities
Derivative liability	52,054	0
Level 2
Net amounts of recognized assets
Financial instruments owned, at fair value—Domestic government debt	0	0
Financial instruments owned, at fair value—Foreign government debt	15,362	14,164
Financial instruments owned, at fair value—Equities	0	0
Financial instruments owned, at fair value—Corporate bonds	7
Total	22,943	93,489
Net amounts of recognized liabilities
Contingent consideration	0	0
Total	4,797	81,474
Level 2 | FX swaps
Net amounts of recognized assets
Derivative asset	4,485	3,467
Net amounts of recognized liabilities
Derivative liability	1,791	5,912
Level 2 | Forwards
Net amounts of recognized assets
Derivative asset	398	855
Net amounts of recognized liabilities
Derivative liability	378	659
Level 2 | Interest rate swaps
Net amounts of recognized assets
Derivative asset	2,691	12,310
Net amounts of recognized liabilities
Derivative liability	2,628	12,182
Level 2 | Futures
Net amounts of recognized assets
Derivative asset	0	62,693
Net amounts of recognized liabilities
Derivative liability	0	62,721
Level 3
Net amounts of recognized assets
Financial instruments owned, at fair value—Domestic government debt	0	0
Financial instruments owned, at fair value—Foreign government debt	0	0
Financial instruments owned, at fair value—Equities	0	0
Financial instruments owned, at fair value—Corporate bonds	0
Total	0	0
Net amounts of recognized liabilities
Contingent consideration	8,631	11,929
Total	8,631	11,929
Level 3 | FX swaps
Net amounts of recognized assets
Derivative asset	0	0
Net amounts of recognized liabilities
Derivative liability	0	0
Level 3 | Forwards
Net amounts of recognized assets
Derivative asset	0	0
Net amounts of recognized liabilities
Derivative liability	0	0
Level 3 | Interest rate swaps
Net amounts of recognized assets
Derivative asset	0	0
Net amounts of recognized liabilities
Derivative liability	0	0
Level 3 | Futures
Net amounts of recognized assets
Derivative asset	0	0
Net amounts of recognized liabilities
Derivative liability	$ 0	$ 0

Fair Value of Financial Asset_4

Fair Value of Financial Assets and Liabilities - Changes in Level 3 Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Measurement period adjustments			$ 221
Level 3 | Accounts payable, accrued and other liabilities | Contingent Consideration
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 9,727	$ 27,673	11,929	$ 24,279
Total realized and unrealized (gains) losses included in net income (loss)	(96)	(61)	(255)	613
Unrealized (gains) losses included in other comprehensive income (loss)	0	0	0	0
Purchases/ Issuances	0	0	0	4,675
Sales/ Settlements	(1,000)	(18,703)	(3,043)	(20,658)
Closing balance	8,631	8,909	8,631	8,909
Net income (loss) on level 3 assets/liabilities outstanding	(96)	(209)	(255)	276
Other comprehensive income (loss) on level 3 assets / liabilities outstanding	$ 0	$ 0	$ 0	$ 0

Fair Value of Financial Asset_5

Fair Value of Financial Assets and Liabilities - Quantitative Information about Level 3 Fair Value Measurements on Recurring Basis (Detail) - Level 3 $ in Thousands	Jun. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value	$ 0	$ 0
Liabilities, fair value	$ 8,631	$ 11,929
Minimum | Discount rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, liability, measurement input	0.072	0.072
Minimum | Probability of meeting earnout and contingencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, liability, measurement input	0.20	0.20
Maximum | Discount rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, liability, measurement input	0.092	0.092
Maximum | Probability of meeting earnout and contingencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, liability, measurement input	1	1
Weighted Average | Discount rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, liability, measurement input	0.086	0.086
Weighted Average | Probability of meeting earnout and contingencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, liability, measurement input	0.860	0.865

Fair Value of Financial Asset_6

Fair Value of Financial Assets and Liabilities - Narrative (Detail) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, fair value	$ 8,631	$ 11,929
Undiscounted value of the payments on all contingencies	16,900	18,600
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Alternative to equity securities	$ 126,100	$ 85,800

Related Party Transactions - Se

Related Party Transactions - Service Agreements (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Related Party Transaction [Line Items]
Total revenues	$ 550,761	$ 493,080	$ 1,129,375	$ 1,025,947
Tower Bridge International Services LP | BGC Partners, Inc.
Related Party Transaction [Line Items]
Company ownership of Tower Bridge			52%
Tower Bridge International Services LP | Cantor
Related Party Transaction [Line Items]
Ownership percentage by noncontrolling owners	48%		48%
Related Party
Related Party Transaction [Line Items]
Mark-up cost of services			7.50%
Share of net profit (loss) from noncontrolling interest	$ 500	500	$ 700	600
Compensation to leased employees	17,700	16,200	37,100	31,700
Related Party | Service Agreement with Cantor
Related Party Transaction [Line Items]
Total revenues	4,600	4,100	9,100	8,000
Service charges	$ 25,700	$ 24,200	$ 52,300	$ 48,100

Related Party Transactions - Pu

Related Party Transactions - Purchases of Futures Exchange Group (Details) - Futures Exchange Group - USD ($) $ in Millions	Jul. 30, 2021	Jun. 30, 2024	Dec. 31, 2023
Related Party Transaction [Line Items]
Payments to acquire businesses	$ 4.9
Related Party
Related Party Transaction [Line Items]
Business combination, indemnified expenses (up to)	$ 1
Indemnification assets		$ 1	$ 1

Related Party Transactions - Cl

Related Party Transactions - Clearing Capital Agreement with Cantor (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Related Party
Related Party Transaction [Line Items]
Cash and collateral posted expense	$ 0.9	$ 0.5	$ 1.9	$ 0.8

Related Party Transactions - BG

Related Party Transactions - BGC Credit Agreement (Details) - USD ($)							3 Months Ended			6 Months Ended
	Jun. 10, 2024	Jun. 07, 2024	Apr. 01, 2024	Mar. 12, 2024	Mar. 08, 2024	Mar. 19, 2018	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Aug. 06, 2018
Related Party
Related Party Transaction [Line Items]
Interest income							$ 2,600,000		$ 2,100,000	$ 5,800,000	$ 3,900,000
Revolving credit facility | BGC Credit Agreement | Related Party
Related Party Transaction [Line Items]
Principal amount of debt component		$ 400,000,000			$ 400,000,000	$ 250,000,000							$ 400,000,000
Debt instrument, basis spread on variable rate					(0.25%)
Debt instrument, extended term					1 year
Debt instrument, non-extension notice term						6 months
Maturity term maximum		35 days
Repayment of outstanding borrowings			$ 275,000,000
Line of credit facility, outstanding amount			$ 275,000,000				0	$ 275,000,000		0		$ 0
Average interest rate					1%			6.92%
Interest expense recorded							0		0	1,100,000	0
Interest income							800,000		$ 0	800,000	$ 0
Proceeds from borrowings				$ 275,000,000
Revolving credit facility | BGC Credit Agreement | Related Party | Cantor
Related Party Transaction [Line Items]
Line of credit facility, outstanding amount							$ 180,000,000			$ 180,000,000
Average interest rate										7.18%
Proceeds from borrowings	$ 180,000,000
Senior Revolving Credit Agreement | Unsecured Credit Agreement
Related Party Transaction [Line Items]
Repayment of outstanding borrowings				$ 240,000,000
Average interest rate							7.17%		6.79%	7.18%	6.64%
Interest expense recorded							$ 4,200,000		$ 1,600,000	$ 7,900,000	$ 2,800,000

Related Party Transactions - Ot

Related Party Transactions - Other Agreements with Cantor (Details)			3 Months Ended		6 Months Ended
	Jul. 01, 2023 shares	Jun. 05, 2015 shares	Jun. 30, 2024 USD ($) shares	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) shares	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)	Aug. 31, 2013 USD ($)
Related Party Transaction [Line Items]
Repurchase agreements | $			$ 6,581,000		$ 6,581,000		$ 0
Reverse repurchase agreements | $			0		0		0
Commissions | $			$ 395,081,000	$ 348,720,000	$ 810,253,000	$ 726,008,000
Limited partnership interest, conversion ratio		1
Conversion of stock, shares converted (in shares) | shares	64,000,000
Minimum number of shares required to be issued (in shares) | shares	75,000,000
Class B Common Stock | Cantor
Related Party Transaction [Line Items]
Investment owned, balance (in shares) | shares			93,300,000		93,300,000
Class B Common Stock | CFGM
Related Party Transaction [Line Items]
Investment owned, balance (in shares) | shares			3,000,000		3,000,000
Class A Common Stock | Cantor
Related Party Transaction [Line Items]
Investment owned, balance (in shares) | shares			0		0
Class A Common Stock | CFGM
Related Party Transaction [Line Items]
Investment owned, balance (in shares) | shares			0		0
Related Party
Related Party Transaction [Line Items]
Repurchase agreements | $			$ 6,600,000		$ 6,600,000		0
Reverse repurchase agreements | $			0		0		$ 0
Recognition of share of FX gains | $			1,400,000	(3,500,000)	1,400,000	(4,900,000)
Commissions | $			$ 100,000	$ 0	$ 200,000	$ 0
Investment authorization in asset-backed commercial paper program | $								$ 350,000,000
Right to exchange from Class A to Class B common stock (up to) (in shares) | shares		34,600,000
Related Party | Maximum
Related Party Transaction [Line Items]
Right to exchange from Class A to Class B common stock (up to) (in shares) | shares		34,600,000

Related Party Transactions - Re

Related Party Transactions - Receivables from and Payables to Related Broker-Dealers (Details) - Related Party - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Transactions with Freedom
Related Party Transaction [Line Items]
Receivables from related parties	$ 2,100,000	$ 1,400,000
Open Derivative Contracts with Cantor
Related Party Transaction [Line Items]
Receivables from related parties	3,900,000	2,700,000
Payables to related parties	1,200,000	4,900,000
Fails and Pending Trades with Cantor
Related Party Transaction [Line Items]
Payables to related parties	$ 9,300,000	$ 800,000

Related Party Transactions - Lo

Related Party Transactions - Loans, Forgivable Loans and Other Receivables from Employees and Partners, Net (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Related Party Transaction [Line Items]
Loans, forgivable loans and other receivables from employees and partners, net	$ 394,527		$ 394,527		$ 367,805
Related Party
Related Party Transaction [Line Items]
Loans, forgivable loans and other receivables from employees and partners, net	394,500		394,500		$ 367,800
Compensation expense related to employee loans	14,600	$ 11,600	29,400	$ 25,500
Interest income	$ 2,600	$ 2,100	$ 5,800	$ 3,900

Related Party Transactions - CE

Related Party Transactions - CEO Program and Other Transactions with CF&Co (Details) - USD ($) shares in Millions						3 Months Ended		6 Months Ended
	Jun. 10, 2024	May 25, 2023	Jul. 10, 2020	Sep. 27, 2019	Jul. 24, 2018	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 11, 2020
Related Party Transaction [Line Items]
Debt instrument, remaining authorized purchase amount						$ 50,000,000		$ 50,000,000
Maximum
Related Party Transaction [Line Items]
Purchased senior notes										$ 50,000,000
5.375% Senior Notes due 2023
Related Party Transaction [Line Items]
Principal amount of debt component					$ 450,000,000
Stated interest rate					5.375%
3.750% Senior Notes due 10/1/2024
Related Party Transaction [Line Items]
Principal amount of debt component				$ 300,000,000
Stated interest rate				3.75%
BGC Partners $4.375% Senior Notes due December 15, 2025
Related Party Transaction [Line Items]
Principal amount of debt component			$ 300,000,000
Stated interest rate			4.375%
BGC Group $8.000% Senior Notes due May 25, 2028
Related Party Transaction [Line Items]
Principal amount of debt component		$ 350,000,000
Stated interest rate		8%				8%		8%
BGC Group 6.600% Senior Notes due June 10, 2029
Related Party Transaction [Line Items]
Principal amount of debt component	$ 500,000,000
Stated interest rate	6.60%
Underwriting fees paid	$ 400,000
Related Party
Related Party Transaction [Line Items]
Related party expenses						$ 0	$ 0	$ 0	$ 0
Issuance of common stock (in shares)						0	0	0	0
Related Party | 5.375% Senior Notes due 2023
Related Party Transaction [Line Items]
Advisory fees					$ 200,000
Related Party | 5.375% Senior Notes due 2023 | Underwriting fees
Related Party Transaction [Line Items]
Related party expenses					$ 300,000
Related Party | 3.750% Senior Notes due 10/1/2024 | Underwriting fees
Related Party Transaction [Line Items]
Related party expenses				$ 200,000
Related Party | BGC Partners $4.375% Senior Notes due December 15, 2025
Related Party Transaction [Line Items]
Purchased senior notes						$ 14,500,000		$ 14,500,000
Related Party | BGC Partners $4.375% Senior Notes due December 15, 2025 | Underwriting fees
Related Party Transaction [Line Items]
Related party expenses			$ 200,000
Related Party | BGC Group $8.000% Senior Notes due May 25, 2028 | Underwriting fees
Related Party Transaction [Line Items]
Related party expenses		$ 200,000

Related Party Transactions - Ca

Related Party Transactions - Cantor Rights to Purchase Cantor Units from BGC Holdings (Details) - Related Party - USD ($)	Jun. 30, 2023	Apr. 16, 2023	Oct. 25, 2022	May 17, 2022	Jun. 05, 2015
Related Party Transaction [Line Items]
Right to exchange from Class A to Class B common stock (up to) (in shares)					34,600,000
BGC Holdings LPUs
Related Party Transaction [Line Items]
Aggregate Cantor units as result of redemption (in shares)				427,494
Aggregate consideration of Cantor units as result of redemption				$ 841,010
Number of founding partner interests as result of redemption (in shares)	5,425,209	533,757	275,833	427,494
Aggregate related party units (in shares)	324,223	85,775	77,507	52,681
Aggregate consideration of Cantor units	$ 598,712	$ 173,154		$ 105,867
Number of founding partner interests exchanged (in shares)	324,223	85,775	77,507	52,681
Aggregate related party units as result of redemption (in shares)	5,425,209	533,757	275,833
Aggregate consideration of related party units as result of redemption (in shares)	$ 9,715,772	$ 1,051,080	$ 397,196
Aggregate consideration of related party units (in shares)			$ 142,613
Maximum
Related Party Transaction [Line Items]
Right to exchange from Class A to Class B common stock (up to) (in shares)					34,600,000

Related Party Transactions - _2

Related Party Transactions - Cantor Aurel Revenue Sharing Agreement (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
	Jun. 24, 2021	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Related Party Transaction [Line Items]
Total revenues		$ 550,761	$ 493,080	$ 1,129,375	$ 1,025,947
Related Party | Cantor
Related Party Transaction [Line Items]
Percentage of revenue shared between related parties	80%
Revenue sharing agreement, term	12 months
Termination notice term	3 months

Related Party Transactions - Tr

Related Party Transactions - Transactions with Executive Officers and Directors (Details)

1 Months Ended

3 Months Ended

6 Months Ended

Jan. 02, 2024 $ / shares shares

Sep. 21, 2023 $ / shares shares

Jul. 12, 2023 USD ($)

Jul. 12, 2023 GBP (£)

Jul. 11, 2023 GBP (£)

Jul. 10, 2023 USD ($) $ / shares shares

Jul. 01, 2023 USD ($) shares

Jun. 30, 2023 USD ($) shares

Jun. 08, 2023 $ / shares shares

Jun. 02, 2023 $ / shares shares

May 18, 2023 USD ($) $ / shares shares

Apr. 18, 2023 $ / shares shares

Apr. 01, 2021 shares

Jun. 30, 2024 shares

May 31, 2024 shares

Apr. 30, 2024 shares

Jun. 30, 2023 shares

Apr. 30, 2023 shares

Jun. 30, 2024 USD ($) $ / shares shares

Mar. 31, 2024 shares

Jun. 30, 2023 $ / shares shares

Mar. 31, 2023 shares

Jun. 30, 2024 USD ($) $ / shares shares

Jun. 30, 2023 $ / shares shares

Related Party Transaction [Line Items]

Deed of amendment, notice period

24 months

24 months

Repurchase of class A common stock (in shares)

4,102,000

5,031,000

1,555,000

3,428,000

3,086,000

10,688,000

11,250,000

9,814,000

846,000

21,938,000

10,660,000

Class A Common Stock

Related Party Transaction [Line Items]

Share price (in dollars per share) | $ / shares

$ 4.45

Share-based payment arrangement, decrease for tax withholding obligation | $

$ 10,300,000

$ 21,200,000

Repurchase of class A common stock (in shares)

9,431,127

9,813,827

19,251,407

10,659,717

Issuance of common stock (in shares)

122,220

166,280

168,894

179,583

Equity-based compensation (in shares)

3,798,747

534,010

8,776,156

2,630,013

Stock repurchased, weighted average price (in dollars per share) | $ / shares

$ 8.32

$ 4.44

$ 7.70

$ 4.48

Shares granted in period (in shares)

600,000,000

Class B Common Stock

Related Party Transaction [Line Items]

Issuance of common stock (in shares)

64,000,000

0

0

0

0

Restricted Stock Units (RSUs)

Related Party Transaction [Line Items]

Share-based payment arrangement, decrease for tax withholding obligation | $

$ 74,000,000

$ 49,200,000

Aggregate estimated grant date fair value | $

$ 3,986,600

$ 30,935,000

Shares granted in period (in shares)

25,300,000

Restricted Stock Units (RSUs) | Mr. Windeatt

Related Party Transaction [Line Items]

Share-based payment arrangement, decrease for tax withholding obligation | $

$ 780,333

Vested in period (in shares)

720,509

Related Party

Related Party Transaction [Line Items]

Issuance of common stock (in shares)

0

0

0

0

Shares withheld for tax withholding obligation, price per share (in dollars per share) | $ / shares

$ 4.61

Related Party | Mr. Lutnick

Related Party Transaction [Line Items]

Determination amount | $

$ 6,650,000

Related Party | Mr. Windeatt

Related Party Transaction [Line Items]

Drawings, aggregate amount, per year | £

£ 700,000

£ 600,000

Related Party | Class A Common Stock | Mr. Merkel

Related Party Transaction [Line Items]

Repurchase of class A common stock (in shares)

150,000

Stock repurchased, weighted average price (in dollars per share) | $ / shares

$ 4.21

Grants in period, net (in shares)

196,525

Related Party | Class A Common Stock | Mr. Lutnick

Related Party Transaction [Line Items]

Grants in period, net (in shares)

5,710,534

Related Party | Class A Common Stock | Reporting Person

Related Party Transaction [Line Items]

Repurchase of class A common stock (in shares)

136,891

474,808

Stock repurchased, weighted average price (in dollars per share) | $ / shares

$ 6.98

$ 5.29

Related Party | Class A Common Stock | Ms. Bell

Related Party Transaction [Line Items]

Repurchase of class A common stock (in shares)

21,786

Stock repurchased, weighted average price (in dollars per share) | $ / shares

$ 4.59

Related Party | NPU-CV, PSU-CV & PSU | Mr. Merkel

Related Party Transaction [Line Items]

Shares redeemed in period | $

$ 0

Related Party | NPSU-CV | Mr. Merkel

Related Party Transaction [Line Items]

Shares redeemed in period (in shares)

148,146

Related Party | PSU-CV | Mr. Merkel

Related Party Transaction [Line Items]

Shares redeemed in period (in shares)

33,585

Related Party | PSU | Mr. Merkel

Related Party Transaction [Line Items]

Shares redeemed in period (in shares)

74,896

Related Party | PSU | Mr. Lutnick

Related Party Transaction [Line Items]

Shares redeemed in period | $

$ 0

Related Party | NPPSU-CV & PPSU-CV | Mr. Merkel

Related Party Transaction [Line Items]

Shares redeemed in period | $

$ 843,750

Related Party | NPPSU-CV | Mr. Merkel

Related Party Transaction [Line Items]

Shares redeemed in period (in shares)

148,146

Determination amount | $

$ 681,250

Related Party | PPSU-CV | Mr. Merkel

Related Party Transaction [Line Items]

Shares redeemed in period (in shares)

33,585

Determination amount | $

$ 162,500

Related Party | Share-Based Payment Arrangement | Class A Common Stock

Related Party Transaction [Line Items]

Shares granted in period (in shares)

1,000,000

Related Party | Share-Based Payment Arrangement | Class A Common Stock | Mr. Merkel

Related Party Transaction [Line Items]

Shares granted in period (in shares)

256,627

Related Party | Share-Based Payment Arrangement | Class A Common Stock | Mr. Lutnick

Related Party Transaction [Line Items]

Grants in period, net (in shares)

232,610

Related Party | Share-Based Payment Arrangement | Class A Common Stock | Mr. Lutnick | Exchangeable PSU

Related Party Transaction [Line Items]

Shares granted in period (in shares)

520,380

Related Party | Share-Based Payment Arrangement | Class A Common Stock | Mr. Lutnick | Non-exchangeable PSU

Related Party Transaction [Line Items]

Shares granted in period (in shares)

11,332,727

Related Party | Non-exchangeable PSUs & PPSUs | Prior To 5/18/2023 | Mr. Lutnick

Related Party Transaction [Line Items]

Determination amount | $

$ 474,195

Related Party | Non-exchangeable PSU | Mr. Lutnick

Related Party Transaction [Line Items]

Shares redeemed in period (in shares)

11,332,727

Related Party | Non-exchangeable PSU | Prior To 5/18/2023 | Mr. Lutnick

Related Party Transaction [Line Items]

Shares redeemed in period (in shares)

7,879,736

Related Party | Non-exchangeable PPSU | Prior To 5/18/2023 | Mr. Lutnick

Related Party Transaction [Line Items]

Shares redeemed in period (in shares)

103,763

Related Party | Incrementally Monetized Non-exchangeable PSUs & PPSUs | Mr. Lutnick

Related Party Transaction [Line Items]

Shares redeemed in period | $

$ 6,650,000

Related Party | Incrementally Monetized Non-exchangeable PSUs & PPSUs | On 5/18/2023 | Mr. Lutnick

Related Party Transaction [Line Items]

Determination amount | $

$ 6,175,805

Related Party | Incrementally Monetized Non-exchangeable PSU | On 5/18/2023 | Mr. Lutnick

Related Party Transaction [Line Items]

Shares redeemed in period (in shares)

3,452,991

Related Party | Incrementally Monetized Non-exchangeable PPSU | Mr. Lutnick

Related Party Transaction [Line Items]

Shares redeemed in period (in shares)

1,451,805

Related Party | Incrementally Monetized Non-exchangeable PPSU | On 5/18/2023 | Mr. Lutnick

Related Party Transaction [Line Items]

Shares redeemed in period (in shares)

1,348,042

Related Party | Exchangeable PSU | Mr. Lutnick

Related Party Transaction [Line Items]

Shares redeemed in period (in shares)

520,380

Related Party | Non-exchangeable HDU | Mr. Lutnick

Related Party Transaction [Line Items]

Shares redeemed in period (in shares)

1,474,930

Related Party | Non-exchangeable HDU | Mr. Lutnick | BGC Partners

Related Party Transaction [Line Items]

Shares redeemed in period | $

$ 2,100,000

Related Party | Non-exchangeable HDU | Mr. Lutnick | Newmark

Related Party Transaction [Line Items]

Shares redeemed in period | $

$ 9,148,000

Related Party | Restricted Stock Units (RSUs)

Related Party Transaction [Line Items]

Shares granted in period (in shares)

16,900,000

Related Party | Exchangeable Limited Partnership Units

Related Party Transaction [Line Items]

Shares redeemed in period (in shares)

1,500,000

Related Party | Exchangeable Limited Partnership Units | Reporting Person

Related Party Transaction [Line Items]

Repurchase of class A common stock (in shares)

128,279

Stock repurchased, weighted average price (in dollars per share) | $ / shares

$ 4.79

Shares granted in period (in shares)

128,279

Related Party | Non-exchangeable LPUs | Reporting Person

Related Party Transaction [Line Items]

Shares granted in period (in shares)

128,279

Related Party Transactions - _3

Related Party Transactions - Transactions with the Relief Fund (Details) - Related Party - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023
Related Party Transaction [Line Items]
Remaining expense related to charitable contributions		$ 6.7		$ 6.4
Accounts payable and accrued liabilities
Related Party Transaction [Line Items]
Remaining liability associated with charitable contributions		$ 12.8	$ 12.7
Other expenses
Related Party Transaction [Line Items]
Charitable contributions	$ 40

Related Party Transactions - _4

Related Party Transactions - Other Transactions (Details) - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended
	Nov. 30, 2022	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Feb. 15, 2022	Feb. 25, 2021
Related Party Transaction [Line Items]
Receivables from related parties		$ 1,557,000		$ 1,557,000		$ 2,717,000
Related Party
Related Party Transaction [Line Items]
Interest income		2,600,000	$ 2,100,000	5,800,000	$ 3,900,000
Due from related parties, write-offs							$ 600,000
Receivables from related parties						$ 400,000
Related Party | Subordinated Loan Agreement with Aqua
Related Party Transaction [Line Items]
Interest income	$ 0
Aqua | Cantor | Related Party
Related Party Transaction [Line Items]
Investment ownership percentage									51%
Aqua | Related Party
Related Party Transaction [Line Items]
Increase in authorization amount for loans and investments, other credit support arrangements								$ 1,000,000	$ 1,000,000
Authorization amount for loans and investments, other credit support arrangements									$ 21,200,000
Aqua | Related Party | Subordinated Loan Agreement with Aqua
Related Party Transaction [Line Items]
Receivables from related parties		$ 1,000,000		$ 1,000,000
Aqua | Aqua | BGC Partners, Inc. | Related Party
Related Party Transaction [Line Items]
Percentage of ownership interest									49%

Investments - Equity Method Inv

Investments - Equity Method Investments and Investments Carried Under Measurement Alternative (Detail) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 40,762	$ 38,122
Investments carried under measurement alternative	192	192
Total equity method and investments carried under measurement alternative	$ 40,954	38,314
Advanced Markets Holdings
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage amount	25%
Equity method investments	$ 4,244	4,481
China Credit BGC Money Broking Company Limited
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage amount	33%
Equity method investments	$ 25,608	21,277
Freedom International Brokerage
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage amount	45%
Equity method investments	$ 8,810	9,507
Other
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 2,100	$ 2,857

Investments - Narrative (Detail

Investments - Narrative (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Schedule of Investments [Line Items]
Equity method investments	$ 40,762		$ 40,762		$ 38,122
Gains (losses) on equity method investments	2,744	$ 2,412	4,534	$ 4,474
Investments carried under measurement alternative	192		192		192
Total assets	4,259,195		4,259,195		3,175,937
Total liabilities	3,217,325		3,217,325		2,277,781
Maximum Exposure to Loss	5,500		5,500		5,700
Other nonoperating income (expense)
Schedule of Investments [Line Items]
Equity investments carried under measurement alternative, gain		$ 0	36,700
Equity investments carried under measurement alternative, loss	0			$ (1,300)
Variable interest entity, primary beneficiary
Schedule of Investments [Line Items]
Total assets	9,000		9,000		9,500
Total liabilities	$ 1,000		$ 1,000		$ 1,200

Investments - Investments in Va

Investments - Investments in Variable Interest Entities (Detail) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Variable Interest Entity [Line Items]
Maximum Exposure to Loss	$ 5,500,000	$ 5,700,000
Receivables from related parties	1,557,000	2,717,000
Variable interest entity, not primary beneficiary
Variable Interest Entity [Line Items]
Investment	2,100,000	2,857,000
Maximum Exposure to Loss	$ 2,100,000	$ 2,857,000

Fixed Assets, Net - Components

Fixed Assets, Net - Components of Fixed Assets, Net (Detail) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Fixed assets, gross	$ 589,813	$ 562,702
Less: accumulated depreciation and amortization	(406,926)	(384,402)
Fixed assets, net	182,887	178,300
Computer and communications equipment
Property, Plant and Equipment [Line Items]
Fixed assets, gross	107,317	103,621
Software, including software development costs
Property, Plant and Equipment [Line Items]
Fixed assets, gross	382,472	360,047
Leasehold improvements and other fixed assets
Property, Plant and Equipment [Line Items]
Fixed assets, gross	$ 100,024	$ 99,034

Fixed Assets, Net - Narrative (

Fixed Assets, Net - Narrative (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Depreciation expense			$ 40,850	$ 38,253
Asset retirement obligations	$ 6,100		6,100		$ 5,900
Impairment charges	100	$ 1,000	300	2,800
Occupancy and equipment
Property, Plant and Equipment [Line Items]
Depreciation expense	5,300	5,100	10,700	10,600
Software development costs capitalized	8,400	12,300	20,400	24,500
Amortization of software development costs	$ 10,200	$ 9,900	$ 20,600	$ 19,800

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets, Net - Summary of Changes in Carrying Amount of Goodwill (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 506,344
Measurement period adjustments	221
Cumulative translation adjustment	(1,139)
Ending balance	$ 505,426

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets, Net - Components of Other Intangible Assets (Detail) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Schedule Of Acquired Finite And Indefinite Lived Intangible Asset By Major Class [Line Items]
Total gross definite life intangible assets	$ 287,905	$ 287,819
Accumulated amortization	168,336	158,787
Net definite life intangible assets	$ 119,569	$ 129,032
Weighted-average remaining life	9 years 3 months 18 days	9 years 7 months 6 days
Total indefinite life intangible assets	$ 82,254	$ 82,253
Total definite and indefinite life intangible assets, gross, excluding goodwill	370,159	370,072
Total definite and indefinite life intangible assets, net, excluding goodwill	201,823	211,285
Trade names
Schedule Of Acquired Finite And Indefinite Lived Intangible Asset By Major Class [Line Items]
Total indefinite life intangible assets	79,570	79,570
Licenses
Schedule Of Acquired Finite And Indefinite Lived Intangible Asset By Major Class [Line Items]
Total indefinite life intangible assets	2,230	2,229
Domain name
Schedule Of Acquired Finite And Indefinite Lived Intangible Asset By Major Class [Line Items]
Total indefinite life intangible assets	454	454
Customer-related
Schedule Of Acquired Finite And Indefinite Lived Intangible Asset By Major Class [Line Items]
Total gross definite life intangible assets	210,773	210,655
Accumulated amortization	105,289	97,401
Net definite life intangible assets	$ 105,484	$ 113,254
Weighted-average remaining life	9 years 3 months 18 days	9 years 8 months 12 days
Technology
Schedule Of Acquired Finite And Indefinite Lived Intangible Asset By Major Class [Line Items]
Total gross definite life intangible assets	$ 23,997	$ 23,997
Accumulated amortization	23,997	23,997
Net definite life intangible assets	0	0
Noncompete agreements
Schedule Of Acquired Finite And Indefinite Lived Intangible Asset By Major Class [Line Items]
Total gross definite life intangible assets	20,966	20,892
Accumulated amortization	20,002	19,322
Net definite life intangible assets	$ 964	$ 1,570
Weighted-average remaining life	2 years 1 month 6 days	2 years 2 months 12 days
Patents
Schedule Of Acquired Finite And Indefinite Lived Intangible Asset By Major Class [Line Items]
Total gross definite life intangible assets	$ 12,334	$ 11,950
Accumulated amortization	10,893	10,703
Net definite life intangible assets	$ 1,441	$ 1,247
Weighted-average remaining life	2 years 10 months 24 days	2 years 10 months 24 days
All other
Schedule Of Acquired Finite And Indefinite Lived Intangible Asset By Major Class [Line Items]
Total gross definite life intangible assets	$ 19,835	$ 20,325
Accumulated amortization	8,155	7,364
Net definite life intangible assets	$ 11,680	$ 12,961
Weighted-average remaining life	10 years 9 months 18 days	10 years 3 months 18 days

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets, Net - Narrative (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible amortization expense	$ 4,700,000	$ 4,200,000	$ 9,600,000	$ 7,900,000
Impairment charges of definite and indefinite life intangibles	$ 0	$ 0	$ 0	$ 0

Goodwill and Other Intangible_6

Goodwill and Other Intangible Assets, Net - Estimated Future Amortization Expense of Definite Life Intangible Assets (Detail) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
2024	$ 9,000
2025	17,400
2026	17,000
2027	12,700
2028	11,900
2029 and thereafter	51,600
Net definite life intangible assets	$ 119,569	$ 129,032

Notes Payable and Other Borro_3

Notes Payable and Other Borrowings - Summary Notes Payable, Other and Short-term Borrowings (Detail) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 10, 2024	Dec. 31, 2023	Oct. 06, 2023	May 25, 2023	Jul. 10, 2020	Sep. 27, 2019
Debt Instrument [Line Items]
Total Notes payable and other borrowings	$ 1,440,689		$ 1,183,506
Senior Revolving Credit Facility | Unsecured Debt
Debt Instrument [Line Items]
Unsecured senior revolving credit agreement	0		239,180
BGC Group $3.750% Senior Notes due October 1, 2024
Debt Instrument [Line Items]
Senior notes	$ 255,306		254,814
Stated interest rate	3.75%			3.75%
BGC Partners $3.750% Senior Notes due October 1, 2024
Debt Instrument [Line Items]
Senior notes	$ 44,444		44,383
Stated interest rate	3.75%						3.75%
BGC Group $4.375% Senior Notes due December 15, 2025
Debt Instrument [Line Items]
Senior notes	$ 287,096		286,729
Stated interest rate	4.375%			4.375%
BGC Partners $4.375% Senior Notes due December 15, 2025
Debt Instrument [Line Items]
Senior notes	$ 11,812		11,800
Stated interest rate	4.375%					4.375%	4.375%
BGC Group $8.000% Senior Notes due May 25, 2028
Debt Instrument [Line Items]
Senior notes	$ 344,236		343,852
Stated interest rate	8%			8%
BGC Partners $8.000% Senior Notes due May 25, 2028
Debt Instrument [Line Items]
Senior notes	$ 2,751		2,748
Stated interest rate	8%				8%
BGC Group 6.600% Senior Notes due June 10, 2029
Debt Instrument [Line Items]
Senior notes	$ 495,044		$ 0
Total Notes payable and other borrowings		$ 495,000
Stated interest rate		6.60%

Notes Payable and Other Borro_4

Notes Payable and Other Borrowings - Narrative (Detail) R$ in Millions									3 Months Ended			6 Months Ended
	Apr. 01, 2024 USD ($)	Mar. 12, 2024 USD ($)	Mar. 08, 2024 USD ($)	Oct. 06, 2023 USD ($)	Sep. 27, 2019 USD ($)	Jul. 24, 2018 USD ($)	Aug. 23, 2017 USD ($)	Aug. 22, 2017 USD ($)	Jun. 30, 2024 USD ($)	Mar. 31, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 10, 2024 USD ($)	Jun. 07, 2024 USD ($)	Apr. 26, 2024 USD ($)	Dec. 31, 2023 USD ($)	Oct. 07, 2023 USD ($)	May 25, 2023 USD ($)	May 22, 2023 USD ($)	May 22, 2023 BRL (R$)	Mar. 10, 2022 USD ($)	Aug. 20, 2021 USD ($)	Aug. 20, 2021 BRL (R$)	Jul. 10, 2020 USD ($)	Feb. 26, 2020	Apr. 19, 2019 USD ($)	Apr. 08, 2019 USD ($)	Nov. 28, 2018 USD ($)	Aug. 06, 2018 USD ($)	Mar. 19, 2018 USD ($)	Aug. 23, 2017 BRL (R$)	Aug. 22, 2017 BRL (R$)
Debt Instrument [Line Items]
Line of credit, maturity date extension																										2 years
Deferred financing cost									$ 9,300,000			$ 9,300,000					$ 6,500,000
Redemption price as percentage of principal amount					101%
Carrying amount of debt component									1,440,689,000			1,440,689,000					1,183,506,000
Long-term debt									1,440,689,000			1,440,689,000					944,326,000
Revolving credit facility | BGC Credit Agreement | Related Party
Debt Instrument [Line Items]
Line of credit facility, outstanding amount	$ 275,000,000								0	$ 275,000,000		0					0
Interest expense recorded									0		$ 0	1,100,000	$ 0
Principal amount of debt component			$ 400,000,000												$ 400,000,000															$ 400,000,000	$ 250,000,000
Debt instrument, basis point			(0.25%)
Average interest rate			1%							6.92%
Repayment of outstanding borrowings	$ 275,000,000
Proceeds from borrowings		$ 275,000,000
Unsecured Credit Agreement | Senior revolving credit agreement
Debt Instrument [Line Items]
Maximum revolving credit																$ 475,000,000						$ 375,000,000							$ 350,000,000
Interest expense recorded									$ 4,200,000		$ 1,600,000	$ 7,900,000	$ 2,800,000
Average interest rate									7.17%		6.79%	7.18%	6.64%
Repayment of outstanding borrowings		$ 240,000,000
Unsecured Credit Agreement | New Senior Revolving Credit Agreement
Debt Instrument [Line Items]
Line of credit facility, outstanding amount									$ 0			$ 0					239,200,000
Deferred financing cost																	800,000
Five Point Three Seven Five Percent Senior Notes [Member]
Debt Instrument [Line Items]
Interest expense recorded											$ 6,400,000		$ 12,800,000
Stated interest rate						5.375%
Principal amount of debt component						$ 450,000,000
Redemption price as percentage of principal amount						101%
Carrying amount of debt component						$ 444,200,000
Debt issuance costs						$ 5,800,000
Five Point Three Seven Five Percent Senior Notes [Member] | Level 2
Debt Instrument [Line Items]
Stated interest rate									5.375%			5.375%
BGC Group $4.375% Senior Notes due December 15, 2025
Debt Instrument [Line Items]
Interest expense recorded											0		0
Stated interest rate					3.75%
Principal amount of debt component					$ 300,000,000
Carrying amount of debt component					296,100,000				$ 255,300,000			$ 255,300,000
Debt issuance costs					$ 3,900,000
BGC Group $4.375% Senior Notes due December 15, 2025 | Level 2
Debt Instrument [Line Items]
Stated interest rate									3.75%			3.75%
BGC Partners $4.375% Senior Notes due December 15, 2025
Debt Instrument [Line Items]
Interest expense recorded									$ 100,000		3,400,000	$ 300,000	6,900,000
Stated interest rate																									4.375%
Principal amount of debt component																									$ 300,000,000
Carrying amount of debt component																									296,800,000
Debt issuance costs																									$ 3,200,000
BGC Partners $4.375% Senior Notes due December 15, 2025 | Level 2
Debt Instrument [Line Items]
Stated interest rate									4.375%			4.375%
3.77% secured loan arrangement | Secured loan arrangements
Debt Instrument [Line Items]
Interest expense recorded											0		0
Stated interest rate																												3.77%
Debt instrument gross amount																												$ 15,000,000
Outstanding balance of the secured loan arrangements									$ 0			$ 0					0
3.89% secured loan arrangement | Secured loan arrangements
Debt Instrument [Line Items]
Interest expense recorded											0		0
Stated interest rate																											3.89%
Debt instrument gross amount																											$ 10,000,000
Outstanding balance of the secured loan arrangements									0			0					0
Unsecured loan agreement | Short term loans | Itau Unibanco S.A.
Debt Instrument [Line Items]
Maximum revolving credit								$ 4,000,000	0			0					0
Interest expense recorded											100,000		200,000
Debt instrument, basis point								3.20%
Unsecured loan agreement | Short term loans | Banco Daycoval S.A.
Debt Instrument [Line Items]
Maximum revolving credit | R$																																	R$ 20.0
Unsecured credit agreement | Intra-day overdraft credit line
Debt Instrument [Line Items]
Line of credit facility, fee									0		0	100,000	100,000
Unsecured credit agreement | Intra-day overdraft credit line | Itau Unibanco S.A.
Debt Instrument [Line Items]
Maximum revolving credit							$ 9,000,000													$ 12,600,000	R$ 70.0		$ 10,800,000	R$ 60.0								R$ 50.0
Line of credit facility, outstanding amount									0			$ 0					0
Line of credit facility, fee percentage							1.32%
BGC Group $8.000% Senior Notes due May 25, 2028
Debt Instrument [Line Items]
Interest expense recorded									$ 100,000		2,800,000		2,800,000
Stated interest rate									8%			8%							8%
Principal amount of debt component																			$ 350,000,000
Carrying amount of debt component																			346,600,000
Debt issuance costs																			$ 3,400,000
BGC Partners $8.000% Senior Notes due May 25, 2028
Debt Instrument [Line Items]
Stated interest rate									8%			8%							8%
Long-term debt									$ 2,751,000			$ 2,751,000					2,748,000
BGC Partners $8.000% Senior Notes due May 25, 2028 | Senior Notes
Debt Instrument [Line Items]
Long-term debt																		$ 2,800,000
BGC Group $3.750% Senior Notes due October 1, 2024
Debt Instrument [Line Items]
Interest expense recorded									$ 2,600,000			$ 5,300,000
Stated interest rate				3.75%					3.75%			3.75%
Long-term debt									$ 255,306,000			$ 255,306,000					254,814,000
BGC Group $3.750% Senior Notes due October 1, 2024 | Senior Notes
Debt Instrument [Line Items]
Long-term debt				$ 255,500,000
BGC Partners $3.750% Senior Notes due October 1, 2024
Debt Instrument [Line Items]
Interest expense recorded									$ 400,000		3,000,000	$ 900,000	6,000,000
Stated interest rate					3.75%				3.75%			3.75%
Long-term debt									$ 44,444,000			$ 44,444,000					44,383,000
BGC Partners $3.750% Senior Notes due October 1, 2024 | Parent Company
Debt Instrument [Line Items]
Stated interest rate					3.75%
Long-term debt																		44,500,000
BGC Partners $3.750% Senior Notes due October 1, 2024 | Senior Notes
Debt Instrument [Line Items]
Long-term debt				$ 255,500,000
BGC Group $4.375% Senior Notes due December 15, 2025
Debt Instrument [Line Items]
Interest expense recorded									$ 3,300,000		0	$ 6,700,000	0
Stated interest rate				4.375%					4.375%			4.375%
Redemption price as percentage of principal amount				101%
Long-term debt									$ 287,096,000			$ 287,096,000					286,729,000
BGC Group $4.375% Senior Notes due December 15, 2025 | Senior Notes
Debt Instrument [Line Items]
Long-term debt				$ 288,200,000					$ 14,500,000			$ 14,500,000
BGC Partners $4.375% Senior Notes due December 15, 2025
Debt Instrument [Line Items]
Stated interest rate					4.375%				4.375%			4.375%													4.375%
Long-term debt									$ 11,812,000			$ 11,812,000					11,800,000
BGC Partners $4.375% Senior Notes due December 15, 2025 | Senior Notes
Debt Instrument [Line Items]
Long-term debt																		$ 11,800,000
BGC Group $8.000% Senior Notes due May 25, 2028
Debt Instrument [Line Items]
Interest expense recorded									$ 7,100,000		$ 0	$ 14,300,000	$ 0
Stated interest rate				8%					8%			8%
Redemption price as percentage of principal amount				101%
Long-term debt									$ 344,236,000			$ 344,236,000					343,852,000
BGC Group $8.000% Senior Notes due May 25, 2028 | Senior Notes
Debt Instrument [Line Items]
Long-term debt				$ 347,200,000
BGC Group Notes Exchange Offer
Debt Instrument [Line Items]
Debt issuance costs				$ 900,000
BGC Group 6.600% Senior Notes due June 10, 2029
Debt Instrument [Line Items]
Interest expense recorded									1,900,000			1,900,000
Stated interest rate														6.60%
Principal amount of debt component														$ 500,000,000
Carrying amount of debt component														495,000,000
Debt issuance costs														$ 5,000,000
Long-term debt									$ 495,044,000			$ 495,044,000					$ 0

Notes Payable and Other Borro_5

Notes Payable and Other Borrowings - Carrying Amounts and Estimated Fair Values of Company's Senior Notes (Detail) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 10, 2024	Dec. 31, 2023	Oct. 06, 2023	May 25, 2023	Jul. 10, 2020	Sep. 27, 2019
Debt Instrument [Line Items]
Carrying Amount	$ 1,440,689		$ 944,326
Fair Value	$ 1,462,995		947,301
BGC Group $3.750% Senior Notes due October 1, 2024
Debt Instrument [Line Items]
Stated interest rate	3.75%			3.75%
Carrying Amount	$ 255,306		254,814
Fair Value	$ 253,717		249,722
BGC Partners $3.750% Senior Notes due October 1, 2024
Debt Instrument [Line Items]
Stated interest rate	3.75%						3.75%
Carrying Amount	$ 44,444		44,383
Fair Value	$ 44,159		43,464
BGC Group $4.375% Senior Notes due December 15, 2025
Debt Instrument [Line Items]
Stated interest rate	4.375%			4.375%
Carrying Amount	$ 287,096		286,729
Fair Value	$ 281,295		276,569
BGC Partners $4.375% Senior Notes due December 15, 2025
Debt Instrument [Line Items]
Stated interest rate	4.375%					4.375%	4.375%
Carrying Amount	$ 11,812		11,800
Fair Value	$ 11,565		11,371
BGC Group $8.000% Senior Notes due May 25, 2028
Debt Instrument [Line Items]
Stated interest rate	8%			8%
Carrying Amount	$ 344,236		343,852
Fair Value	$ 372,345		363,274
BGC Partners $8.000% Senior Notes due May 25, 2028
Debt Instrument [Line Items]
Stated interest rate	8%				8%
Carrying Amount	$ 2,751		2,748
Fair Value	2,974		2,901
BGC Group 6.600% Senior Notes due June 10, 2029
Debt Instrument [Line Items]
Stated interest rate		6.60%
Carrying Amount	495,044		0
Fair Value	$ 496,940		$ 0

Compensation - Narrative (Detai

Compensation - Narrative (Detail) $ in Thousands			3 Months Ended		6 Months Ended		12 Months Ended
	Jul. 01, 2023 USD ($) shares	Jun. 30, 2023 USD ($) shares	Jun. 30, 2024 USD ($) shares	Jun. 30, 2023 USD ($) shares	Jun. 30, 2024 USD ($) shares	Jun. 30, 2023 USD ($) shares	Dec. 31, 2023 USD ($) shares	Nov. 22, 2021 shares	Nov. 21, 2021 shares	Jul. 01, 2021 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate number of shares grant of future awards (in shares)			455,000,000		455,000,000
Number of share-equivalent limited partnership units exchangeable into shares (in shares)			0		0		0
Number of common stock settled per restricted stock unit (in shares)					1
Estimated fair value of restricted stock units | $					$ 5,100
Aggregate estimated fair value of limited partnership units and restricted stock units | $							$ 7,400
Aggregate estimated fair value of deferred compensation awards | $					$ 0		$ 600
Number of shares released the restrictions (in shares)			0	2,100,000	0	2,300,000
Shares withheld to satisfy tax liabilities (in shares)			1,300,000		2,700,000
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of restricted stock upon redemption of limited partnership interests (in shares)	25,300,000	22,500,000
Granted | $					$ 105,060
Unrecognized compensation expense related to unvested | $			$ 209,600		$ 209,600
Unrecognized compensation expense related to unvested recognized period					5 years 10 months 17 days
Weighted- Average Remaining Contractual Term (Years)					5 years 10 months 17 days		5 years 11 months 15 days
Limited partnership units outstanding (in shares)			70,576,000		70,576,000		64,942,000
Share-based payment arrangement, decrease for tax withholding obligation | $	$ 74,000	$ 49,200
Restricted Stock Units (RSUs) | Eligible
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Limited partnership units outstanding (in shares)			25,000,000		25,000,000
Restricted Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of restricted stock upon redemption of limited partnership interests (in shares)	38,600,000
Granted | $					$ 0
Unrecognized compensation expense related to unvested | $			$ 19,500		$ 19,500
Weighted- Average Remaining Contractual Term (Years)					11 months 23 days		2 years 6 months 18 days
Limited partnership units outstanding (in shares)			16,816,000		16,816,000		27,953,000
Share-based payment arrangement, expense | $			$ 8,900		$ 44,300
Accelerated vesting of restricted stock (in shares)					4,300,000
Accelerated vesting expense | $					$ 25,400
Shares withheld to satisfy tax liabilities (in shares)			1,300,000		2,700,000
Restricted Shares | Eligible
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Limited partnership units outstanding (in shares)			1,100,000		1,100,000
Restricted Stock Units, Tax Account
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock redeemed during period (in shares)	16,300,000
Stock issued during period | $		49,200
Granted | $	$ 74,000	$ 123,100
Unrecognized compensation expense related to unvested | $			$ 80,800		$ 80,800
Vested | $			4,500		$ 8,000
Weighted- Average Remaining Contractual Term (Years)					8 years 4 months 24 days
Share-based payment arrangement, expense | $			$ 5,100		$ 11,100
Restricted BGC Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Limited partnership units outstanding (in shares)			0		0		100,000
Restricted Newmark Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares released the restrictions (in shares)			0	1,100,000	0	1,100,000
Non-exchangeable LPUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock redeemed during period (in shares)	54,000,000	16,900,000
Non-exchangeable FPUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock redeemed during period (in shares)		5,600,000
Non-exchangeable PSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock redeemed during period (in shares)	9,900,000	10,600,000
Minimum | Restricted Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted shares saleable period					5 years
Maximum | Restricted Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted shares saleable period					10 years
LPUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding (in shares)			0		0		0
Common stock exchangeable basis					1
Limited partnership interests exchange ratio					0.9248
LPUs | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted shares, restriction period					2 years
LPUs | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted shares, restriction period					5 years
Newmark | Restricted BGC Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Limited partnership units outstanding (in shares)			0		0		0
Newmark | LPUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Limited partnership units outstanding (in shares)			8,433,000		8,433,000		8,779,000
Newmark | LPUs | REUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Notional value with post-termination pay-out amount | $			$ 700		$ 700		$ 700
Aggregate estimated fair value of limited partnership units | $			$ 300		$ 300		$ 300
BGC Holdings | LPUs | REUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of outstanding limited partnership units, unvested (in shares)			100,000		100,000		100,000
BGC or Newmark | Restricted Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares, forfeited (in shares)			0	200,000	200,000	200,000
Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of share-equivalent limited partnership units exchangeable into shares (in shares)			200,000		200,000		200,000
Shares, forfeited (in shares)			36,465	189,726	672,632	238,927
Share-based payment arrangement, decrease for tax withholding obligation | $			$ 10,300		$ 21,200
Stock issued to employees (in shares)			2,300,000	0	4,700,000	0
Class A Common Stock | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Value of shares withheld | $			$ 16,100	$ 1,400	$ 27,900	$ 7,600
Equity plan | Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized to be delivered pursuant to awards granted (in shares)								500,000,000	400,000,000	600,000,000

Compensation - Compensation Exp

Compensation - Compensation Expense Related to Class A Common Stock (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
LPU amortization	$ 0	$ 19,447	$ 0	$ 40,878
RSU, RSU Tax Account, and restricted stock amortization	21,229	4,622	40,696	10,218
Equity-based compensation and allocations of net income to limited partnership units and FPUs	66,207	126,644	162,288	208,017
LPUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of common stock and grants of exchangeability	29,943	101,938	63,775	153,904
Class A Common Stock | LPUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of common stock and grants of exchangeability	29,943	101,938	63,775	153,904
Allocation of net income and dividend equivalents	1,044	637	2,338	3,017
LPU amortization	0	19,447	0	40,878
RSU, RSU Tax Account, and restricted stock amortization	35,220	4,622	96,175	10,218
Equity-based compensation and allocations of net income to limited partnership units and FPUs	$ 66,207	$ 126,644	$ 162,288	$ 208,017

Compensation - Activity Associa

Compensation - Activity Associated with LPU's Held by BGC Employees (Detail) - Newmark Units	6 Months Ended
	Jun. 30, 2024 shares
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Granted (in shares)	0
LPUs
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Beginning balance (in shares)	8,779,000
Redeemed/exchanged units (in shares)	(338,000)
Forfeited units (in shares)	(8,000)
Ending balance (in shares)	8,433,000

Compensation - Summary of the B

Compensation - Summary of the BGC Holdings and Newmark Holdings LPUs Held by BGC Employees (Detail) - LPUs - Newmark - shares	Jun. 30, 2024	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Balance outstanding (in shares)	8,433,000	8,779,000
Regular Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Balance outstanding (in shares)	6,517,000
Preferred Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Balance outstanding (in shares)	1,916,000

Compensation - Compensation E_2

Compensation - Compensation Expense Related to Issuance of BGC or Newmark Class A Common Stock and Grants of Exchangeability on BGC Holdings and Newmark Holdings LPUs Held by BGC Employees (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
LPUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of common stock and grants of exchangeability	$ 29,943	$ 101,938	$ 63,775	$ 153,904

Compensation - Activity Assoc_2

Compensation - Activity Associated with Limited Partnership Units Awarded to BGC Employees (Detail) - LPUs - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of units, redeemed (in shares)	62,000	14,810,000	123,000	25,863,000
BGC Holdings LPUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of units, redeemed (in shares)	0	14,710,000	0	25,684,000
Newmark Holdings LPUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of units, redeemed (in shares)	62,000	100,000	123,000	179,000

Compensation - Summary of Compe

Compensation - Summary of Compensation Expense Related to Amortization of LPUs Held by BGC Employees (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
LPU amortization	$ 0	$ 19,447	$ 0	$ 40,878
Stated vesting schedule
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
LPU amortization	0	19,440	0	40,848
Post-termination payout
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
LPU amortization	$ 0	$ 7	$ 0	$ 30

Compensation - Compensation E_3

Compensation - Compensation Expense Related to Restricted Stock Unit Held by BGC Employees (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Compensation Related Costs [Abstract]
RSU, RSU Tax Account, and restricted stock amortization	$ 21,229	$ 4,622	$ 40,696	$ 10,218

Compensation - Activity Assoc_3

Compensation - Activity Associated with Restricted Stock Units and Restricted Stock (Detail) - USD ($)			6 Months Ended	12 Months Ended
	Jul. 12, 2023	Jul. 01, 2023	Jun. 30, 2024	Dec. 31, 2023
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Beginning balance (in shares)			64,942,000
Granted (in shares)			14,122,000
Delivered (in shares)			(7,718,000)
Forfeited (in shares)			(770,000)
Ending balance (in shares)			70,576,000	64,942,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Beginning balance (in dollars per share)			$ 4.11
Granted (in dollars per share)			7,440
Delivered (in dollars per share)			4,010
Forfeited (in dollars per share)			4,720
Ending balance (in dollars per share)			$ 4,780	$ 4.11
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Fair Value Outstanding [Roll Forward]
Beginning balance			$ 267,015,000
Granted			105,060,000
Delivered	$ (3,986,600)		(30,935,000)
Forfeited			(3,635,000)
Ending balance			$ 337,505,000	$ 267,015,000
Weighted- Average Remaining Contractual Term (Years)			5 years 10 months 17 days	5 years 11 months 15 days
Restricted Shares
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Beginning balance (in shares)			27,953,000
Granted (in shares)		38,600,000	0
Delivered (in shares)			(10,912,000)
Forfeited (in shares)			(225,000)
Ending balance (in shares)			16,816,000	27,953,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Beginning balance (in dollars per share)			$ 4.20
Granted (in dollars per share)			0
Delivered (in dollars per share)			4.46
Forfeited (in dollars per share)			4.43
Ending balance (in dollars per share)			$ 4.03	$ 4.20
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Fair Value Outstanding [Roll Forward]
Beginning balance			$ 117,468,000
Granted			0
Delivered			(48,659,000)
Forfeited			(997,000)
Ending balance			$ 67,812,000	$ 117,468,000
Weighted- Average Remaining Contractual Term (Years)			11 months 23 days	2 years 6 months 18 days

Commitments, Contingencies an_2

Commitments, Contingencies and Guarantees (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Loss Contingencies [Line Items]
FDIC indemnification asset, incurred losses	$ 0	$ 0	$ 0	$ 0
Self insurance accrued in health care claims	3,300,000		3,300,000		$ 3,700,000
Contingent liability
Russia's invasion of Ukraine | Other expenses
Loss Contingencies [Line Items]
Loss contingency accrual, provision	2,000,000	$ 2,000,000	4,000,000	$ 4,000,000
Guarantees
Loss Contingencies [Line Items]
Guarantee liability	1,400,000		1,400,000		$ 1,400,000
Contingent liability	$ 0		$ 0

Income Taxes (Detail)

Income Taxes (Detail) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Unrecognized tax benefits	$ 6.7	$ 6.7
Accrued interest related to uncertain tax positions	$ 4.1	$ 3.4

Regulatory Requirements (Detail

Regulatory Requirements (Detail) $ in Millions	Jun. 30, 2024 USD ($)
Broker-Dealer, Net Capital Requirement, SEC Regulation [Abstract]
Net assets held by regulated subsidiaries	$ 695.6
Amount of capital in excess of aggregate regulatory requirements	$ 378.7

Segment, Geographic and Produ_3

Segment, Geographic and Product Information - Narrative (Detail)	6 Months Ended
	Jun. 30, 2024 segment
Segment Reporting [Abstract]
Number of reportable segments	1

Segment, Geographic and Produ_4

Segment, Geographic and Product Information - Geographic Information Regarding Revenues (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenues:
Total revenues	$ 550,761	$ 493,080	$ 1,129,375	$ 1,025,947
U.K.
Revenues:
Total revenues	192,183	174,334	401,771	365,518
U.S.
Revenues:
Total revenues	180,562	162,387	362,648	331,724
Asia
Revenues:
Total revenues	73,093	67,729	146,938	139,100
Other Europe/MEA
Revenues:
Total revenues	63,546	44,270	131,440	99,159
France
Revenues:
Total revenues	23,345	25,407	50,603	52,545
Other Americas
Revenues:
Total revenues	$ 18,032	$ 18,953	$ 35,975	$ 37,901

Segment, Geographic and Produ_5

Segment, Geographic and Product Information - Information Regarding Long-Lived Assets in Geographic Areas (Detail) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Long-lived assets:
Total long-lived assets	$ 714,231	$ 686,656
U.K.
Long-lived assets:
Total long-lived assets	292,726	306,085
U.S.
Long-lived assets:
Total long-lived assets	239,776	220,050
Asia
Long-lived assets:
Total long-lived assets	86,516	75,496
Other Europe/MEA
Long-lived assets:
Total long-lived assets	74,942	64,865
France
Long-lived assets:
Total long-lived assets	14,674	14,260
Other Americas
Long-lived assets:
Total long-lived assets	$ 5,597	$ 5,900

Segment, Geographic and Produ_6

Segment, Geographic and Product Information - Product Information Regarding Revenues (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting Information [Line Items]
Total revenues	$ 550,761	$ 493,080	$ 1,129,375	$ 1,025,947
Rates
Segment Reporting Information [Line Items]
Total revenues	166,044	144,209	341,129	308,946
ECS
Segment Reporting Information [Line Items]
Total revenues	117,743	98,688	172,969	157,685
FX
Segment Reporting Information [Line Items]
Total revenues	88,946	77,527	156,973	155,355
Credit
Segment Reporting Information [Line Items]
Total revenues	69,381	65,806	236,207	188,347
Equities
Segment Reporting Information [Line Items]
Total revenues	51,406	57,373	114,263	125,487
Total brokerage revenues
Segment Reporting Information [Line Items]
Total revenues	493,520	443,603	1,021,541	935,820
All other revenues
Segment Reporting Information [Line Items]
Total revenues	$ 57,241	$ 49,477	$ 107,834	$ 90,127

Revenues from Contracts with _3

Revenues from Contracts with Customers - Summary of Revenues from Contracts with Customers and Other Sources of Revenues (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenues From Contracts With Customers [Line Items]
Revenues from contracts with customers:	$ 434,971	$ 384,638	$ 888,584	$ 795,459
Principal transactions	98,439	94,883	211,288	209,812
Interest and dividend income	17,145	13,371	26,909	18,686
Other revenues	206	188	2,594	1,990
Total revenues	550,761	493,080	1,129,375	1,025,947
Commissions
Revenues From Contracts With Customers [Line Items]
Revenues from contracts with customers:	395,081	348,720	810,253	726,008
Data, network and post-trade
Revenues From Contracts With Customers [Line Items]
Revenues from contracts with customers:	30,812	27,000	61,715	54,122
Fees from related parties
Revenues From Contracts With Customers [Line Items]
Revenues from contracts with customers:	4,643	4,062	9,064	8,019
Other revenues
Revenues From Contracts With Customers [Line Items]
Revenues from contracts with customers:	4,435	4,856	7,552	7,310
Total revenues	$ 57,241	$ 49,477	$ 107,834	$ 90,127

Revenues from Contracts with _4

Revenues from Contracts with Customers - Narrative (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Receivables related to revenue from contract with customer	$ 358,700,000		$ 358,700,000		$ 314,800,000
Impairments related to revenue receivables	0	$ 0	0	$ 0
Deferred revenue	28,000,000		28,000,000		14,700,000
Deferred revenue recognized	11,400,000	$ 9,100,000	10,700,000	$ 9,300,000
Capitalized costs	$ 0		$ 0		$ 0

Leases - Narrative (Detail)

Leases - Narrative (Detail)	6 Months Ended
	Jun. 30, 2024
Minimum
Lessee, Lease, Description [Line Items]
Finance lease, remaining lease term	3 months 18 days
Operating lease, remaining lease term	3 months 18 days
Lease renewal term, operating lease	1 month 6 days
Lease renewal term, finance lease	1 month 6 days
Maximum
Lessee, Lease, Description [Line Items]
Finance lease, remaining lease term	15 years 1 month 6 days
Operating lease, remaining lease term	15 years 1 month 6 days
Lease renewal term, operating lease	10 years
Lease renewal term, finance lease	10 years
Lease renewal increments term, operating lease (up to)	15 years
Lease renewal increments term, finance lease (up to)	15 years

Leases - Schedule of Supplement

Leases - Schedule of Supplemental Information Related to Operating and Finance Leases (Detail) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Assets
Other assets [extensible list]	Other assets	Other assets
Operating lease ROU assets	$ 121,788	$ 124,165
Fixed assets, net [extensible list]	Fixed assets, net	Fixed assets, net
Finance lease ROU assets	$ 3,611	$ 4,264
Liabilities
Accounts payable, accrued and other liabilities [extensible list]	Accounts payable, accrued and other liabilities	Accounts payable, accrued and other liabilities
Operating lease liabilities	$ 146,043	$ 149,640
Accounts payable accrued and other liabilities [extensible list]	Accounts payable, accrued and other liabilities	Accounts payable, accrued and other liabilities
Finance lease liabilities	$ 3,996	$ 4,721

Leases - Schedule of Weighted-A

Leases - Schedule of Weighted-Average Remaining Lease Term and Discount Rate (Detail)	Jun. 30, 2024	Dec. 31, 2023
Leases [Abstract]
Weighted-average remaining lease term, operating leases (years)	7 years	7 years 3 months 18 days
Weighted-average remaining lease term, finance leases (years)	2 years 10 months 24 days	3 years 4 months 24 days
Weighted-average discount rate, operating leases	4.90%	5%
Weighted-average discount rate, finance leases	4.30%	4.30%

Leases - Schedule of Components

Leases - Schedule of Components of Lease Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Occupancy and equipment
Schedule Of Lease Expense [Line Items]
Operating lease cost	$ 8,153	$ 7,993	$ 16,598	$ 16,846
Amortization on ROU assets	326	326	653	653
Interest expense
Schedule Of Lease Expense [Line Items]
Interest on lease liabilities	$ 44	$ 56	$ 91	$ 116

Leases - Schedule of Maturity A

Leases - Schedule of Maturity Analysis of Lease Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Operating leases
2024 (excluding the six months ended June 30, 2024)	$ 16,693
2025	29,900
2026	22,941
2027	21,661
2028	15,371
Thereafter	79,387
Total	185,953
Interest	(39,910)
Total	146,043	$ 149,640
Finance leases
2024 (excluding the six months ended June 30, 2024)	785
2025	1,448
2026	1,290
2027	627
2028	0
Thereafter	0
Total	4,150
Interest	(154)
Finance lease liabilities	$ 3,996	$ 4,721

Leases - Schedule of Cash Flow

Leases - Schedule of Cash Flow Information Related to Lease Liabilities (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Leases [Abstract]
Operating cash flows from operating lease liabilities	$ 9,581	$ 8,485	$ 18,944	$ 18,089
Operating cash flows from finance lease liabilities	44	56	91	116
Financing cash flows from finance lease liabilities	$ 318	$ 305	$ 633	$ 608

Current Expected Credit Losse_3

Current Expected Credit Losses (CECL) - Schedule of Current Expected Credit Losses (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 27,700,000	$ 16,800,000	$ 26,200,000	$ 14,900,000
Current-period provision for expected credit losses	2,300,000	1,700,000	3,800,000	3,600,000
Release of allowance for expected credit losses	(2,300,000)		(2,300,000)
Ending balance	27,700,000	18,500,000	27,700,000	18,500,000
Accrued commissions and other receivables, net
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	5,900,000	5,400,000	5,000,000	5,400,000
Current-period provision for expected credit losses	100,000	(300,000)	1,000,000	(300,000)
Release of allowance for expected credit losses	0		0
Ending balance	6,000,000	5,100,000	6,000,000	5,100,000
Loans, forgivable loans and other receivables from employees and partners, net
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	2,300,000	2,400,000	2,300,000	2,500,000
Current-period provision for expected credit losses	0	0	0	(100,000)
Release of allowance for expected credit losses	(2,300,000)		(2,300,000)
Ending balance	0	2,400,000	0	2,400,000
Receivables from broker-dealers, clearing organizations, customers and related broker-dealers
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	19,500,000	9,000,000	18,900,000	7,000,000
Current-period provision for expected credit losses	2,200,000		2,800,000	4,000,000
Release of allowance for expected credit losses	$ 0		$ 0
Ending balance		$ 11,000,000		$ 11,000,000

Current Expected Credit Losse_4

Current Expected Credit Losses (CECL) - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Financing Receivable, Allowance for Credit Loss [Line Items]
Current-period provision for expected credit losses	$ 2,300,000	$ 1,700,000	$ 3,800,000	$ 3,600,000
Current expected credit losses reserve	27,700,000	18,500,000	27,700,000	18,500,000	$ 27,700,000	$ 26,200,000	$ 16,800,000	$ 14,900,000
Release of allowance for expected credit losses	(2,300,000)		(2,300,000)
Accrued commissions and other receivables, net
Financing Receivable, Allowance for Credit Loss [Line Items]
Current-period provision for expected credit losses	100,000	(300,000)	1,000,000	(300,000)
Current expected credit losses reserve	6,000,000	5,100,000	6,000,000	5,100,000	5,900,000	5,000,000	5,400,000	5,400,000
Release of allowance for expected credit losses	0		0
Loans, forgivable loans and other receivables from employees and partners, net
Financing Receivable, Allowance for Credit Loss [Line Items]
Current-period provision for expected credit losses	0	0	0	(100,000)
Current expected credit losses reserve	0	2,400,000	0	2,400,000	2,300,000	2,300,000	2,400,000	2,500,000
Release of allowance for expected credit losses	(2,300,000)		(2,300,000)
Receivables from broker-dealers, clearing organizations, customers and related broker-dealers
Financing Receivable, Allowance for Credit Loss [Line Items]
Current-period provision for expected credit losses	2,200,000		2,800,000	4,000,000
Current expected credit losses reserve		11,000,000		$ 11,000,000	$ 19,500,000	$ 18,900,000	$ 9,000,000	$ 7,000,000
Release of allowance for expected credit losses	0		0
Receivables from broker-dealers, clearing organizations, customers and related broker-dealers | Russia/Ukraine Conflit
Financing Receivable, Allowance for Credit Loss [Line Items]
Current-period provision for expected credit losses		$ 2,000,000
Current expected credit losses reserve	$ 21,700,000		$ 21,700,000

Subsequent Events (Detail)

Subsequent Events (Detail) - USD ($)				3 Months Ended		6 Months Ended
	Jul. 31, 2024	Jul. 29, 2024	Apr. 01, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Mar. 31, 2024	Dec. 31, 2023
Subsequent Event [Line Items]
Dividends declared per share of common stock (in dollars per share)				$ 0.02	$ 0.01	$ 0.03	$ 0.02
Revolving credit facility | BGC Credit Agreement | Related Party
Subsequent Event [Line Items]
Repayment of outstanding borrowings			$ 275,000,000
Line of credit facility, outstanding amount			$ 275,000,000	$ 0		$ 0		$ 275,000,000	$ 0
Revolving credit facility | BGC Credit Agreement | Related Party | Cantor
Subsequent Event [Line Items]
Line of credit facility, outstanding amount				$ 180,000,000		$ 180,000,000
Subsequent event
Subsequent Event [Line Items]
Dividends declared per share of common stock (in dollars per share)		$ 0.02
Subsequent event | Revolving credit facility | BGC Credit Agreement | Related Party
Subsequent Event [Line Items]
Repayment of outstanding borrowings	$ 18,000,000