Macro EnvironmentA favorable macro backdrop under the new US administration is expected to benefit BGC Group, supporting the Buy recommendation.
Market Share And GrowthFMX' UST market structure is driving rapid market share gains in interdealer Treasury trading, indicating strong demand for its execution mechanisms.
Product ExpansionBGC Group's FMX Futures Exchange added 2Yr and 5Yr US Treasury futures to its product line-up, representing a meaningful milestone in the exchange’s ramp.