Global brokerage firm BGC Group has acquired Macro Hive, a London-based provider of market analytics and strategy services. The financial terms and timeline details of the deal have not been disclosed.
Founded in 2019, Macro Hive delivers global macro research and strategy services across equities, commodities, rates and foreign exchange (FX) markets. The firm specialises in AI-enhanced investment processes, and serves over 1,000 institutions spanning 160 countries, including JP Morgan, Citi and Bank of America.
The acquisition aims to bolster BGC’s agency business by integrating Macro Hive’s AI-driven tech across rates and FX markets within BGC’s broking and execution platform. Richard Leighton, senior managing director at BGC Group, claims: “Adding Macro Hive to our suite of institutional services enhances our platform with tech-forward insights and proven expertise”.
As part of the transaction, Macro Hive’s founders, CEO Bilal Hafeez and COO Andrew Simon, will join BGC, though their specific roles have not been announced. Hafeez, who formerly served as global head of FX and rates strategy at Nomura, writes on LinkedIn that the move will “help turbocharge our AI and analytics offering as we leverage their tech platform and market data”.
The deal continues BGC Group’s active acquisition strategy. In October 2024, the US-based broker acquired Sage Energy Partners and OTC Global Holdings to expand its global energy, commodities and shipping operations. The company also specialises in brokerage services across fixed income, equities, and futures markets.
Source: https://www.fintechfutures.com/
