Apr 25, 05:32 PM

Cantor Fitzgerald to Launch FMX Partners, Backed by Major Banks, with $667M Valuation

Howard Lutnick, CEO of Cantor Fitzgerald, is launching a new futures market exchange with substantial backing from major financial institutions including Goldman Sachs, JPMorgan, Citadel Securities, Barclays, and others. The venture, known as FMX Partners, secured minority investments totaling a post-money value of $667 million and is set to launch in September. These investments are tied to minimum trading volume commitments. Lutnick also anticipates a Federal Reserve rate cut just before the US presidential election this year.