BGC Partners, a global brokerage company servicing the financial and real estate markets, will acquire the businesses of Sunrise Brokers Group, an independent financial brokerage that focuses on worldwide equity derivatives.
“This transaction enables us to further expand our equity derivatives offering and complements our existing financial services business,” said Shaun D. Lynn, president of BGC Partners.
He added, “As a recognized leader in its market segments, Sunrise Brokers is clearly a valuable addition to the BGC family of brands.”
Details of the transaction were not disclosed. The deal is subject to legal and regulatory approvals and certain closing conditions.
Sunrise Brokers generated consolidated revenues of an estimated $90 million ending December 31, 2015.
Sunrise Brokers was founded in 1991 and offers broking services across equity, credit, FX, hybrid and commodity derivative asset classes. The firm covers its markets globally from its offices in London, New York and Hong Kong.