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BGC Opens New Office In Istanbul, Turkey - Rapid Global Expansion With Addition In Continental Europe

Date 04/06/2007

BGC, a leading inter-dealer broker, providing integrated voice and electronic services for wholesale market participants worldwide, today announced the opening of a new office in Istanbul, Turkey strengthening BGC’s position in Continental Europe and further expanding its global footprint within financial markets.

Based in Turkey’s financial district at Kanyon Ofis Blogu, BGC is the first inter-dealer broker to open an office in Turkey and will initially provide new and existing clients with brokerage of cash equity and futures. Expansion will later continue with services in equity derivatives and government bonds.

Emre Temelli, Managing Director, will head up a team of 16 staff in Istanbul and will be responsible for BGC’s expansion of products and services in the fast growing Turkish market. Mr. Temelli has over 15 years experience in the Turkish markets and will work alongside Berk Kangal, Director of BGC’s Turkish desk in London.

The opening of an Istanbul office represents the latest addition of a rapidly expanding global network of offices at BGC. The group sees Turkey as an important market to further expand its existing product lines and has vast experience within the market, having brokered Turkish products from its London office for the last nine years.

Commenting on the launch, Emre Temelli said, “I am delighted to be joining BGC as it continues its expansion and I look forward to working with clients locally in Turkey and growing our business further.”

Berk Kangal said, “We are excited about opening an office in the heart of Turkey, an important market to us now for many years and one in which we have many clients. Our presence there will be key to building up our already strong Turkish equities business.”

Jean-Pierre Aubin, President of Continental Europe at BGC said, “We are extremely encouraged by the increased level of activity we are seeing in the European markets and look forward to serving our clients locally from Istanbul. In addition to our Turkish office, we will continue to look for further opportunities across Europe through a combination of organic growth and external acquisitions.”

With the addition of Istanbul, BGC now has six offices across Europe, including Copenhagen, London, Paris, Milan and Nyon.