BGC Group launches new division for compute and memory markets

BGC Group, Inc. (Nasdaq: BGC) announced the launch of BGC Compute Infrastructure Markets (BGC CIM), a new division focused on the secondary market for compute and memory capacity.

BGC CIM will operate within BGC Group's Energy, Commodities and Shipping business and will initially focus on the over-the-counter market. Marc Kuber and Zach Espinosa will serve as co-heads of the division.

The division will provide brokerage services for compute and memory capacity and will have access to BGC Group's Fenics Market Data business and Lucera, its connectivity platform.

"The secondary market for compute is quickly becoming one of the most consequential commodity markets in the world economy," said Zach Espinosa, co-head of BGC CIM. "As demand continues to accelerate, BGC CIM has been created to meet our clients' needs to manage their infrastructure price risk via trusted access to liquidity, market intelligence and seamless execution."

John Abularrage, co-chief executive officer of BGC Group, said compute and memory capacity share characteristics with commodity markets, including supply-demand volatility, forward price risk and the need for clear pricing.

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