2014 Q2 Form 10-Q Financial Statement

#000119312514303150 Filed on August 08, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2013 Q2
Revenue $417.2M $1.193B
YoY Change -65.03% 165.42%
Cost Of Revenue $2.100M $2.300M
YoY Change -8.7% -28.13%
Gross Profit $415.1M $469.0M
YoY Change -11.49% 4.45%
Gross Profit Margin 99.5% 39.31%
Selling, General & Admin $377.2M $913.3M
YoY Change -58.7% 117.82%
% of Gross Profit 90.87% 194.73%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $7.400M $8.100M
YoY Change -8.64% -12.9%
% of Gross Profit 1.78% 1.73%
Operating Expenses $402.7M $984.9M
YoY Change -59.12% 121.29%
Operating Profit $12.43M -$515.9M
YoY Change -102.41% -13288.04%
Interest Expense $9.230M $9.989M
YoY Change -7.6% 31.82%
% of Operating Profit 74.23%
Other Income/Expense, Net $379.0K $59.78M
YoY Change -99.37% 297.26%
Pretax Income $14.92M $208.3M
YoY Change -92.84% 4579.8%
Income Tax $3.600M $78.71M
% Of Pretax Income 24.14% 37.8%
Net Earnings $7.601M $34.47M
YoY Change -77.95% 1660.27%
Net Earnings / Revenue 1.82% 2.89%
Basic Earnings Per Share $0.03 $0.20
Diluted Earnings Per Share $0.03 $0.18
COMMON SHARES
Basic Shares Outstanding 220.8M shares 171.8M shares
Diluted Shares Outstanding 326.6M shares 378.1M shares

Balance Sheet

Concept 2014 Q2 2013 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $608.5M $1.070B
YoY Change -43.15% 191.0%
Cash & Equivalents $558.2M $1.070B
Short-Term Investments $50.26M
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $1.100B $1.708B
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.658B $2.779B
YoY Change -40.33% 137.81%
LONG-TERM ASSETS
Property, Plant & Equipment $116.6M $132.2M
YoY Change -11.77% -6.83%
Goodwill $184.2M $163.7M
YoY Change 12.56%
Intangibles $17.22M $20.64M
YoY Change -16.59%
Long-Term Investments $21.07M $21.73M
YoY Change -3.05% -32.1%
Other Assets
YoY Change
Total Long-Term Assets $794.5M $669.7M
YoY Change 18.64% -5.29%
TOTAL ASSETS
Total Short-Term Assets $1.658B $2.779B
Total Long-Term Assets $794.5M $669.7M
Total Assets $2.452B $3.448B
YoY Change -28.88% 83.86%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $762.1M $1.466B
YoY Change -48.02% 173.05%
Accrued Expenses $201.9M $273.9M
YoY Change -26.29% 93.57%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $575.8M $1.740B
YoY Change -66.91% 156.47%
LONG-TERM LIABILITIES
Long-Term Debt $409.1M $423.8M
YoY Change -3.47% -6.28%
Other Long-Term Liabilities $3.700M
YoY Change
Total Long-Term Liabilities $412.8M $423.8M
YoY Change -2.6% -6.28%
TOTAL LIABILITIES
Total Short-Term Liabilities $575.8M $1.740B
Total Long-Term Liabilities $412.8M $423.8M
Total Liabilities $1.751B $2.610B
YoY Change -32.93% 77.0%
SHAREHOLDERS EQUITY
Retained Earnings -$204.8M -$145.8M
YoY Change 40.44%
Common Stock $772.5M $717.1M
YoY Change 7.73%
Preferred Stock
YoY Change
Treasury Stock (at cost) $157.8M $110.2M
YoY Change 43.19%
Treasury Stock Shares 18.08M shares
Shareholders Equity $415.7M $471.9M
YoY Change
Total Liabilities & Shareholders Equity $2.452B $3.448B
YoY Change -28.88% 83.86%

Cashflow Statement

Concept 2014 Q2 2013 Q2
OPERATING ACTIVITIES
Net Income $7.601M $34.47M
YoY Change -77.95% 1660.27%
Depreciation, Depletion And Amortization $7.400M $8.100M
YoY Change -8.64% -12.9%
Cash From Operating Activities $29.10M $52.50M
YoY Change -44.57% -44.97%
INVESTING ACTIVITIES
Capital Expenditures -$6.600M -$6.400M
YoY Change 3.13% -56.16%
Acquisitions
YoY Change
Other Investing Activities -$22.90M $747.3M
YoY Change -103.06% -3137.8%
Cash From Investing Activities -$29.50M $741.0M
YoY Change -103.98% -1990.31%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -80.60M -60.60M
YoY Change 33.0% -1783.33%
NET CHANGE
Cash From Operating Activities 29.10M 52.50M
Cash From Investing Activities -29.50M 741.0M
Cash From Financing Activities -80.60M -60.60M
Net Change In Cash -81.00M 732.9M
YoY Change -111.05% 1125.59%
FREE CASH FLOW
Cash From Operating Activities $29.10M $52.50M
Capital Expenditures -$6.600M -$6.400M
Free Cash Flow $35.70M $58.90M
YoY Change -39.39% -46.45%

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CY2013Q4 us-gaap Marketable Securities
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45002000
CY2013Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
127615000
CY2013Q4 us-gaap Receivables From Brokers Dealers And Clearing Organizations
ReceivablesFromBrokersDealersAndClearingOrganizations
349915000
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
CY2013Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
79755000
CY2013Q4 us-gaap Available For Sale Securities
AvailableForSaleSecurities
5500000
CY2013Q4 us-gaap Derivative Fair Value Of Derivative Asset Amount Not Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral
CY2013Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
12185000
CY2013Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
37898000
CY2013Q4 us-gaap Other Receivables From Broker Dealers And Clearing Organizations
OtherReceivablesFromBrokerDealersAndClearingOrganizations
12204000
CY2013Q4 us-gaap Equity Method Investments
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17703000
CY2013Q4 us-gaap Finite Lived Intangible Assets Net
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5995000
CY2013Q4 us-gaap Investment Owned At Fair Value
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45000000
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468711000
CY2013Q4 us-gaap Financial Instruments Owned At Fair Value
FinancialInstrumentsOwnedAtFairValue
33119000
CY2013Q4 us-gaap Financial Instruments Owned Us Government And Agency Obligations At Fair Value
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32027000
CY2013Q4 us-gaap Interest Rate Derivative Instruments Not Designated As Hedging Instruments Asset At Fair Value
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445000
CY2013Q4 us-gaap Other Assets
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174984000
CY2013Q4 us-gaap Property Plant And Equipment Gross
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379300000
CY2013Q4 us-gaap Cash And Securities Segregated Under Federal And Other Regulations
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1895000
CY2013Q4 us-gaap Foreign Currency Contract Asset Fair Value Disclosure
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501000
CY2013Q4 us-gaap Receivables From Customers
ReceivablesFromCustomers
28860000
CY2013Q4 us-gaap Assets
Assets
2079363000
CY2013Q4 us-gaap Derivative Instruments Not Designated As Hedging Instruments Asset At Fair Value
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1634000
CY2013Q4 us-gaap Due From Affiliates
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15211000
CY2013Q4 us-gaap Other Derivatives Not Designated As Hedging Instruments At Fair Value Net
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688000
CY2013Q4 us-gaap Intangible Assets Net Excluding Goodwill
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18180000
CY2013Q4 us-gaap Treasury Stock Value
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121753000
CY2013Q4 us-gaap Accrued Fees And Other Revenue Receivable
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265920000
CY2013Q4 us-gaap Due From Employees
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142769000
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25713000
CY2013Q4 us-gaap Receivables From Clearing Organizations
ReceivablesFromClearingOrganizations
46684000
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SecuritiesFailedToDeliver
258569000
CY2013Q4 bgcp Derivative Liability After Master Netting Arrangement Or Similar Agreement
DerivativeLiabilityAfterMasterNettingArrangementOrSimilarAgreement
1851000
CY2013Q4 bgcp Notional Value Of Limited Partnership Units With Post Termination Pay Out Amount
NotionalValueOfLimitedPartnershipUnitsWithPostTerminationPayOutAmount
35100000
CY2013Q4 bgcp Fixed Assets Pledged For Secured Loan Value
FixedAssetsPledgedForSecuredLoanValue
1500000
CY2013Q4 bgcp Derivative Liabilities Gross Amount Offset In Balance Sheet
DerivativeLiabilitiesGrossAmountOffsetInBalanceSheet
261000
CY2013Q4 bgcp Derivative Assets Gross Amounts Offset In Balance Sheet
DerivativeAssetsGrossAmountsOffsetInBalanceSheet
261000
CY2013Q4 bgcp Derivative Asset After Master Netting Arrangement Or Similar Agreement
DerivativeAssetAfterMasterNettingArrangementOrSimilarAgreement
1634000
CY2013Q4 bgcp Amount Of Asset Backed Commercial Paper Facility
AmountOfAssetBackedCommercialPaperFacility
250000000
CY2013Q4 bgcp Derivative Fair Value Of Derivative Asset Amount Not Offset Against Financial Instruments
DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstFinancialInstruments
CY2013Q4 bgcp Receivable From Net Pending Trades
ReceivableFromNetPendingTrades
1964000
CY2013Q4 bgcp Receivable From Open Derivative Contracts
ReceivableFromOpenDerivativeContracts
1634000
CY2013Q4 bgcp Payable For Open Derivative Contracts
PayableForOpenDerivativeContracts
1851000
CY2013Q4 bgcp Notes Payable And Collateralized Borrowings
NotesPayableAndCollateralizedBorrowings
258356000
CY2013Q4 bgcp Derivative Fair Value Of Derivative Liability Amount Not Offset Against Financial Instruments
DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstFinancialInstruments
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.24
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
367582000 shares
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.25
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.24
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
167515000 shares
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
30358000
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-3123000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
89485000
us-gaap Market Data Revenue
MarketDataRevenue
7768000
us-gaap Increase Decrease In Due From Employee Current
IncreaseDecreaseInDueFromEmployeeCurrent
22901000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-3123000
us-gaap Increase Decrease In Receivables Under Repurchase Agreements
IncreaseDecreaseInReceivablesUnderRepurchaseAgreements
49063000
us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
-612000
us-gaap Profit Loss
ProfitLoss
140142000
us-gaap Principal Transactions Revenue
PrincipalTransactionsRevenue
173346000
us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
0
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
19804000
us-gaap Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
48049000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
221948000
us-gaap Brokerage Commissions Revenue
BrokerageCommissionsRevenue
623536000
us-gaap Temporary Equity Other Changes
TemporaryEquityOtherChanges
-729000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
214000
us-gaap Payments For Software
PaymentsForSoftware
7728000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
39847000
us-gaap Other Income
OtherIncome
2005000
us-gaap Derivative Gain Loss On Derivative Net
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13000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
38801000
us-gaap Temporary Equity Net Income
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5631000
us-gaap Revenues Excluding Interest And Dividends
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1634937000
us-gaap Increase Decrease In Restricted Cash For Operating Activities
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3178000
us-gaap Income Taxes Paid
IncomeTaxesPaid
9215000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
188000
us-gaap Increase Decrease In Financial Instruments Used In Operating Activities
IncreaseDecreaseInFinancialInstrumentsUsedInOperatingActivities
171000
us-gaap Increase Decrease Due From Affiliates
IncreaseDecreaseDueFromAffiliates
2357000
us-gaap Capitalized Computer Software Impairments
CapitalizedComputerSoftwareImpairments
800000
us-gaap Revenues
Revenues
1638136000
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
25390000
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
797000
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
0
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
8796000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
41464000
us-gaap Net Income Loss
NetIncomeLoss
41464000
us-gaap Interest On Convertible Debt Net Of Tax
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8657000
us-gaap Interest Paid
InterestPaid
9959000
us-gaap Interest Income Operating
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3199000
us-gaap Capitalized Computer Software Amortization
CapitalizedComputerSoftwareAmortization
4900000
us-gaap Technology Services Revenue
TechnologyServicesRevenue
5096000
us-gaap Gain Loss On Sale Of Business
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723147000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
24853000
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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-1931000
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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137019000
us-gaap Asset Impairment Charges
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764000
us-gaap Deferred Income Tax Expense Benefit
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-69044000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
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940000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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0
us-gaap Management Fees Revenue
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79161000
us-gaap Increase Decrease In Brokerage Receivables
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1134073000
us-gaap Income Loss From Equity Method Investments
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-4512000
us-gaap Interest Expense
InterestExpense
19689000
us-gaap Operating Expenses
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1416188000
us-gaap Partners Capital Account Redemptions
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3496000
us-gaap Professional Fees
ProfessionalFees
26308000
us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
5129000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
2718000
us-gaap Amortization Of Intangible Assets
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2900000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
681933000
us-gaap Cost Of Services Direct Labor
CostOfServicesDirectLabor
727494000
us-gaap Floor Brokerage Exchange And Clearance Fees
FloorBrokerageExchangeAndClearanceFees
12168000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
81806000
us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
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194035000
us-gaap Noninterest Expense
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1396499000
us-gaap Proceeds From Divestiture Of Businesses
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747675000
us-gaap Depreciation
Depreciation
17000000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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-105521000
us-gaap Occupancy Net
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76567000
us-gaap Proceeds From Issuance Of Common Stock
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1446000
us-gaap Stock Option Plan Expense
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0
us-gaap Distribution Made To Limited Partner Cash Distributions Declared
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7900000
us-gaap Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
858000
us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
43554000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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729361000
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
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98218000
us-gaap Other Expenses
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77084000
us-gaap Increase Decrease In Payables To Broker Dealers
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1170173000
us-gaap Other Operating Activities Cash Flow Statement
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-316000
us-gaap Increase Decrease In Financial Instruments Sold Not Yet Purchased
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0
us-gaap Net Income Loss Attributable To Noncontrolling Interest
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98678000
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-51172000
us-gaap Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
7700000
us-gaap Communication
Communication
47096000
us-gaap Increase Decrease In Accrued Salaries
IncreaseDecreaseInAccruedSalaries
25726000
bgcp Foreign Exchange Brokerage Revenue
ForeignExchangeBrokerageRevenue
120040000
bgcp Allocation Of Income To Limited Partnership Interest Diluted
AllocationOfIncomeToLimitedPartnershipInterestDiluted
39361000
bgcp Collection Of Receivables And Associated Expenses
CollectionOfReceivablesAndAssociatedExpenses
7300000
bgcp Equities And Other Brokerage Revenue
EquitiesAndOtherBrokerageRevenue
80662000
bgcp Allocation Of Income To Limited Partnership Interest
AllocationOfIncomeToLimitedPartnershipInterest
151026000
bgcp Dividend Equivalent Expense On Rsus
DividendEquivalentExpenseOnRsus
3000
bgcp Limited Partnership Units Average Redemption Price Per Unit
LimitedPartnershipUnitsAverageRedemptionPricePerUnit
4.71
bgcp Capitalization Of Patent Defense And Registration Costs
CapitalizationOfPatentDefenseAndRegistrationCosts
-779000
bgcp Rates Revenue
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283291000
bgcp Issuance Of Common Stock Upon Exchange Of Limited Partnership Interests
IssuanceOfCommonStockUponExchangeOfLimitedPartnershipInterests
41774000
bgcp Sublease Provision Adjustment
SubleaseProvisionAdjustment
0
bgcp Redemption Of Founding Working Partner Interests
RedemptionOfFoundingWorkingPartnerInterests
2583000
bgcp Temporary Equity Earnings Distributions
TemporaryEquityEarningsDistributions
1181000
bgcp Incremental Common Shares Attributable To Limited Partnership Interests
IncrementalCommonSharesAttributableToLimitedPartnershipInterests
159255000 shares
bgcp Compensation And Employee Benefit Net
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1108593000
bgcp Reallocation Of Equity Due To Additional Investments By Founding And Working Partners
ReallocationOfEquityDueToAdditionalInvestmentsByFoundingAndWorkingPartners
938000
bgcp Real Estate Brokerage Revenue
RealEstateBrokerageRevenue
176404000
bgcp Donations Of Common Stock
DonationsOfCommonStock
5720000
bgcp Issuance Of Class Common Stock For Acquisitions
IssuanceOfClassCommonStockForAcquisitions
1040000
bgcp Earnings Distributions To Noncontrolling Interests
EarningsDistributionsToNoncontrollingInterests
32138000
bgcp Incremental Common Shares Attributable To Other Instruments
IncrementalCommonSharesAttributableToOtherInstruments
751000 shares
bgcp Allocation Of Net Income And Grant Of Exchangeability To Limited Partnership Units And Founding Working Partner Units
AllocationOfNetIncomeAndGrantOfExchangeabilityToLimitedPartnershipUnitsAndFoundingWorkingPartnerUnits
381099000
bgcp Employee Loan Amortization And Reserve On Employee Loans
EmployeeLoanAmortizationAndReserveOnEmployeeLoans
19682000
bgcp Reserves For Loan Losses
ReservesForLoanLosses
160501000
bgcp Payments To Repurchase Of Limited Partnership Units
PaymentsToRepurchaseOfLimitedPartnershipUnits
0
bgcp Equity Based Compensation And Allocations Of Net Income To Limited Partnership Units And Founding Or Working Partner Units
EquityBasedCompensationAndAllocationsOfNetIncomeToLimitedPartnershipUnitsAndFoundingOrWorkingPartnerUnits
388163000
bgcp Credit Revenue
CreditRevenue
136485000
bgcp Exchange Of Founding Working Partner Interests
ExchangeOfFoundingWorkingPartnerInterests
1541000
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.07
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P1Y9M18D
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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dei Document Type
DocumentType
10-Q
dei Entity Registrant Name
EntityRegistrantName
BGC PARTNERS, INC.
dei Trading Symbol
TradingSymbol
BGCP
us-gaap Due To And From Broker Dealers And Clearing Organizations Disclosure
DueToAndFromBrokerDealersAndClearingOrganizationsDisclosure
<div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td valign="top" width="4%" align="left"><b>9.</b></td> <td valign="top" align="left"><b>Receivables from and Payables to Broker-Dealers, Clearing Organizations, Customers and Related Broker-Dealers</b></td> </tr> </table> <!-- xbrl,body --> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> 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, including derivative contracts into which the Company may enter into to minimize the effect of price changes of the Company&#x2019;s NASDAQ OMX shares (see Note 10&#x2014;&#x201C;Derivatives&#x201D;). As of June&#xA0;30, 2014 and December&#xA0;31, 2013, receivables from and payables to broker-dealers, clearing organizations, customers and related broker-dealers consisted of the following (in thousands):</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="76%" align="center" border="0"><!-- Begin Table Head --> <tr> <td width="74%"></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td></td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center"><b>June&#xA0;30,</b><br /> <b>2014</b></td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center"><b>December&#xA0;31,</b><br /> <b>2013</b></td> <td valign="bottom">&#xA0;</td> </tr> <!-- End Table Head --><!-- Begin Table Body --> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em"> Receivables from broker-dealers, clearing organizations, customers and related broker-dealers:</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em"> Contract values of fails to deliver</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">676,972</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">258,569</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em"> Customer receivables</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">65,153</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">28,860</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em"> Cash and cash equivalents held at clearing organizations</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">53,199</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">46,684</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em"> Other receivables from broker-dealers and customers</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">16,347</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">12,204</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em"> Net pending trades</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">526</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">1,964</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em"> Open derivative contracts</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">647</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">1,634</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; 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FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em"> Other payables to broker-dealers and customers</p> </td> <td valign="bottom"><font style="FONT-SIZE: 8pt">&#xA0;&#xA0;</font></td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">30,258</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom"><font style="FONT-SIZE: 8pt">&#xA0;&#xA0;</font></td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">12,627</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em"> Open derivative contracts</p> </td> <td valign="bottom"><font style="FONT-SIZE: 8pt">&#xA0;&#xA0;</font></td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">313</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom"><font style="FONT-SIZE: 8pt">&#xA0;&#xA0;</font></td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">1,851</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 5em; TEXT-INDENT: -1em"> Total</p> </td> <td valign="bottom"><font style="FONT-SIZE: 8pt">&#xA0;&#xA0;</font></td> <td valign="bottom">$</td> <td valign="bottom" align="right">742,800</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom"><font style="FONT-SIZE: 8pt">&#xA0;&#xA0;</font></td> <td valign="bottom">$</td> <td valign="bottom" align="right">303,549</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 3px double">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 3px double">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 3px double">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 3px double">&#xA0;</p> </td> <td>&#xA0;</td> </tr> <!-- End Table Body --></table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> A portion of these receivables and payables are with Cantor. 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2050000
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0.12
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6600000 shares
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171758000 shares
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76000
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208251000
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324832000
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1174000
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7000
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32538000
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12242000
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34466000
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34466000
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3860000
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1651000
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2200000
CY2013Q2 us-gaap Technology Services Revenue
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2530000
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0
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-1224000
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723147000
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127283000
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9989000
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984916000
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2286000
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2000000
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448686000
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6397000
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1900000
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95074000
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CapitalizedComputerSoftwareAdditions
3800000
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Communication
22755000
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60692000
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31618000
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1900000
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EquitiesAndOtherBrokerageRevenue
40692000
CY2013Q2 bgcp Allocation Of Income To Limited Partnership Interest
AllocationOfIncomeToLimitedPartnershipInterest
140068000
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LimitedPartnershipUnitsAverageRedemptionPricePerUnit
5.54
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RatesRevenue
138299000
CY2013Q2 bgcp Incremental Common Shares Attributable To Limited Partnership Interests
IncrementalCommonSharesAttributableToLimitedPartnershipInterests
165127000 shares
CY2013Q2 bgcp Compensation And Employee Benefit Net
CompensationAndEmployeeBenefitNet
811763000
CY2013Q2 bgcp Real Estate Brokerage Revenue
RealEstateBrokerageRevenue
103155000
CY2013Q2 bgcp Incremental Common Shares Attributable To Other Instruments
IncrementalCommonSharesAttributableToOtherInstruments
797000 shares
CY2013Q2 bgcp Allocation Of Net Income And Grant Of Exchangeability To Limited Partnership Units And Founding Working Partner Units
AllocationOfNetIncomeAndGrantOfExchangeabilityToLimitedPartnershipUnitsAndFoundingWorkingPartnerUnits
363077000
CY2013Q2 bgcp Charitable Contributions
CharitableContributions
25000000
CY2013Q2 bgcp Credit Revenue
CreditRevenue
67343000
CY2014Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.03
CY2014Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
685000 shares
CY2014Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.12
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WeightedAverageNumberOfDilutedSharesOutstanding
326586000 shares
CY2014Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.03
CY2014Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.12
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220770000 shares
CY2014Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
524000
CY2014Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
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11105000
CY2014Q2 us-gaap Market Data Revenue
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1492000
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OtherComprehensiveIncomeLossNetOfTax
-202000
CY2014Q2 us-gaap Foreign Currency Transaction Gain Loss Realized
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384000
CY2014Q2 us-gaap Profit Loss
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11315000
CY2014Q2 us-gaap Principal Transactions Revenue
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72751000
CY2014Q2 us-gaap Other Expenses
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13584000
CY2014Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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3714000
CY2014Q2 us-gaap Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
4700000
CY2014Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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44400000 shares
CY2014Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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14915000
CY2014Q2 us-gaap Brokerage Commissions Revenue
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291666000
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3530000
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-100000
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7429000
CY2014Q2 us-gaap Revenues Excluding Interest And Dividends
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415656000
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500000
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7967000
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7601000
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1925000
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2800000
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703000
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-726000
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38835000
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0
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402666000
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2133000
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600000
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264318000
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5575000
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3600000
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393432000
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7400000
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35701000
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2400000
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3684000
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4536000
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49279000
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3504000
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2200000
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286720000
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107901000
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1048000 shares
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22402000
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58923000
CY2013Q3 bgcp Issuance Of Class A Common Stock Upon Exchange Of Non Exchangeable Limited Partnership Units
IssuanceOfClassACommonStockUponExchangeOfNonExchangeableLimitedPartnershipUnits
1802608 shares

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