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May 31, 2007 | From Times Wire Reports
Cantor Fitzgerald agreed to sell its BGC Partners brokerage unit to ESpeed Inc., a publicly owned electronic trading house controlled by Cantor, in a deal valued at $1.3 billion. The acquisition would enable Cantor, a New York bond-trading firm that lost hundreds of employees in the Sept. 11 terror attacks, to consolidate its interdealer broker businesses and end all revenue-sharing accords with ESpeed, which some ESpeed investors have criticized.
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BUSINESS
May 31, 2007 | From Times Wire Reports
Cantor Fitzgerald agreed to sell its BGC Partners brokerage unit to ESpeed Inc., a publicly owned electronic trading house controlled by Cantor, in a deal valued at $1.3 billion. The acquisition would enable Cantor, a New York bond-trading firm that lost hundreds of employees in the Sept. 11 terror attacks, to consolidate its interdealer broker businesses and end all revenue-sharing accords with ESpeed, which some ESpeed investors have criticized.
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BUSINESS
September 26, 2001 | Bloomberg News
Cantor Fitzgerald, the bond trader that lost more than 730 employees in the attack on the World Trade Center, told the five surviving members of its corporate bond group it will move the department to London. "We have been offered to move to London," said Richard Berman, a member of the group. Mike Holloway, a spokesman for the firm, declined to comment. The firm, which was on the 101st, 103rd, 104th and 105th floors of the trade center, is trading government bonds out of temporary offices.
BUSINESS
October 16, 2001 | Bloomberg News
Cantor Fitzgerald will close offices in Frankfurt, Germany, and Paris, as the bond broker that lost about 700 employees in the World Trade Center attacks seeks to reduce expenses. The firm, which before last month handled about one-quarter of the trades in the $3-trillion U.S. government bond market, shifted most trading to its ESpeed Inc. unit, an electronic trading system.
BUSINESS
April 28, 2000 | Bloomberg News
Among the new stock ratings issued Thursday by Wall Street analysts: * Amazon.com Inc. (AMZN; $52.88, down 63 cents) was downgraded to "hold" from "buy" by First Union Securities Inc. But it was raised to "strong buy" from "accumulate" at Prudential Securities and to "accumulate" from "hold" by Janney Montgomery Scott. Whom do you believe? * Cisco Systems Inc. (CSCO; $69, up $2.25) was rated "buy" in new coverage by ABN Amro, with an $85 target. * Electroglas Inc. (EGLS; $36.19, up $1.
BUSINESS
December 28, 1999 | MILES WEISS, BLOOMBERG NEWS
When he was the top U.S. securities regulator, Richard Breeden busted the biggest scandal to hit the market for U.S. Treasury debt. Now he's joining the board of ESpeed Inc., which operates the largest electronic marketplace for government bonds. Breeden, a former chairman of the Securities and Exchange Commission, isn't alone.
NEWS
September 13, 2001 | KAREN KAPLAN and DAVID COLKER, TIMES STAFF WRITERS
After a day of uncertainty and silence, Jessica Trant logged onto America Online and began typing: "Looking for my dad, Dan Trant. He worked for Cantor Fitzgerald on the 104th floor." The 19-year-old pleaded with the world: "My family and I need him to come home, so please if anyone has heard about anything, e-mail me." As of Wednesday, she had heard nothing on the whereabouts of her 40-year-old father, whose law firm occupied four floors of the World Trade Center.
NEWS
September 24, 2001 | JOSEPH MENN and P.J. HUFFSTUTTER and DAVID STREITFELD, TIMES STAFF WRITERS
Fred Alger Management Inc. suffered grievously in the World Trade Center attacks. Among the missing were chief investment officer David Alger as well as most of its analysts and portfolio managers--the people whose skill and knowledge had led investors to trust the firm with $15 billion. "We will spare no expense in rebuilding," Fred Alger, the chairman and David's brother, said the day after the attacks.
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