Cantor.com - History - Cantor Fitzgerald

History

Cantor Fitzgerald – in business for more than 60 years – has consistently embraced change and opportunity, focusing on technological innovation, fostering new ideas and expanding across multiple global marketplaces. Today, the firm has clearly evolved from the early days of bond brokerage to become a leader in global financial services.

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1945

Bernie Cantor and John Fitzgerald team up to create bond brokerage firm, Cantor Fitzgerald

Bernie Cantor and John Fitzgerald team up to create bond brokerage firm, Cantor Fitzgerald

1965

Launch of Equity Capital Markets division

Launch of Equity Capital Markets division

In the fixed income arena, Cantor had gained a reputation for providing clients with superior expertise and exceptional service. In 1965, the firm decided to capitalize on its success and launched the Equity Capital Markets division, offering block trading and specialized services to asset managers, pension funds and portfolio managers.

1972

Purchase of controlling interest in Telerate; Cantor pioneers “screen brokerage” and introduces the world’s first electronic marketplace for US Government Securities

Purchase of controlling interest in Telerate; Cantor pioneers “screen brokerage” and introduces the world’s first electronic marketplace for US Government Securities

1983

London Office opens offering worldwide screen brokerage service

London Office opens offering worldwide screen brokerage service

Cantor continued to build solid relationships and harness expertise in both the inter-dealer fixed income and institutional equity communities, and eventually expanded outside of the U.S., opening offices in London (1983) and Tokyo (1986). The London office was home to one of the firm’s earliest endeavors in innovative technology, in which developers created the first screen-based brokerage service for fixed income markets.

1984

Japan office opens brokering Eurobonds

Japan office opens brokering Eurobonds

1991

Howard Lutnick named President and CEO

Howard Lutnick named President and CEO

Howard W. Lutnick was named President of Cantor Fitzgerald in 1991. He focused on leveraging Cantor's reputation for technological innovation, and in 1996, spearheaded the development of eSpeed systems, testing the new technology within the firm’s bond brokerage division.

1998

Cantor Exchange, the world’s first full-time electronic exchange for trading US Treasury Futures, begins operation

Cantor Exchange, the world’s first full-time electronic exchange for trading US Treasury Futures, begins operation

1999

First fully electronic transaction using the eSpeed system is executed by a Cantor Fitzgerald client
eSpeed is spun-off in a $220 million Initial Public Offering

First fully electronic transaction using the eSpeed system is executed by a Cantor Fitzgerald client

In 1999, Cantor announced the migration of the company's inter-dealer and voice brokering global fixed income operations to the eSpeed electronic trading platform. In December of that year, eSpeed had an initial public offering and became listed on NASDAQ.

eSpeed is spun-off in a $220 million Initial Public Offering

2000

Investment Banking group formed

Investment Banking group formed

2001

World Trade Center tragedy
Cantor Fitzgerald Relief Fund created
Cantor Market Data launches

World Trade Center tragedy

On September 11, 2001, the attacks on the World Trade Center claimed the lives of 658 Cantor Fitzgerald, eSpeed and Tradespark employees. Within one week, eSpeed and Cantor brought markets back online, thanks to the dedication and commitment of employees and clients around the world. At that time, Cantor pledged to distribute 25% of the firm's profits for five years to the families of former employees, as well as additional support through healthcare benefits. Through September 2006, Cantor distributed more than $180 million to the families of employees who were lost in the attacks.

Cantor Fitzgerald Relief Fund created

Cantor Market Data launches

2002

More than $5 million raised on 1st annual Charity Day

More than $5 million raised on 1st annual Charity Day

2003

Debt Capital Markets launches
Risk Arbitrage and Relative Value Investing added to Sales and Trading offerings
More than $7 million raised on 2nd annual Charity Day

Debt Capital Markets launches

From 2000 to 2003, Cantor expanded and strengthened its Institutional Sales and Trading franchise worldwide through an increased presence in Investment Banking and Portfolio Trading. The firm also launched Debt Capital Markets and added Risk Arbitrage and Market Commentary.

Risk Arbitrage and Relative Value Investing added to Sales and Trading offerings

More than $7 million raised on 2nd annual Charity Day

2004

New global headquarters in midtown Manhattan established
BGC Partners LP formed
More than $6 million raised on 3rd annual Charity Day

New global headquarters in midtown Manhattan established

BGC Partners LP formed

In 2004, Cantor Fitzgerald separated its wholesale voice brokerage business, creating BGC Partners L.P., which was named after brokerage innovator, B. Gerald Cantor. Today, BGC offers a full range of voice brokerage services – price quotes, execution, straight-through-processing, clearing and settlement – to wholesale fixed income, interest rate, foreign exchange and derivative markets worldwide.

More than $6 million raised on 3rd annual Charity Day

2005

First wireless bond trading takes place on Blackberry platform
More than $6 million raised in 4th annual Charity Day
Cantor Casino launches

First wireless bond trading takes place on Blackberry platform

More than $6 million raised in 4th annual Charity Day

Cantor Casino launches

2006

Cantor becomes Primary Dealer
Formation of CastleOak Securities
Cantor Environmental Brokerage enters Crude Oil Products market
More than $6 million raised in 5th annual Charity Day

Cantor becomes Primary Dealer

Effective August 1, 2006, Cantor Fitzgerald became the 21st primary dealer trading with the Federal Reserve. Cantor now bids directly in all Treasury bill, note, bond and TIPS auctions, participates in coupon passes, and provides flow and market commentary to the Fed.

Formation of CastleOak Securities

CastleOak Securities, a minority-owned investment bank, is formed to provide sales & trading, capital markets and financial advisory services. Headquartered in New York, with regional offices in Chicago and Atlanta, the firm is managed by a team of seasoned bankers with an average of 15 years experience on Wall Street.

Cantor Environmental Brokerage enters Crude Oil Products market

More than $6 million raised in 5th annual Charity Day

2007

Cantor Environmental Brokerage and CO2e.com LLC. come together to form CantorCO2e
Cantor Entertainment is created
More than $10 million raised by Cantor Fitzgerald and its affiliates on Charity Day

Cantor Environmental Brokerage and CO2e.com LLC. come together to form CantorCO2e

Cantor Entertainment is created

More than $10 million raised by Cantor Fitzgerald and its affiliates on Charity Day

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New York, New York 10022
United States
Tel: +1 212-938-5000