BGC Group to acquire OTC Global Holdings.

BGC Group, a global brokerage and financial technology company, agreed to acquire OTC Global Holdings, the largest independent institutional energy and commodities brokerage firm. Financial terms were not disclosed. "OTC has built a premier global energy, commodities, and shipping business that is supported by world class talent. This acquisition will complement our existing ECS business and will enhance our ability to deliver a comprehensive, best-in-class offering to our global client base. We look forward to welcoming the OTC team onto the BGC platform, combining our innovative solutions to drive greater results for our clients," Howard Lutnick, BGC Group Chairman and CEO.