Cantor Fitzgerald is a financial services firm that was founded in
1945. It specializes in institutional equity, fixed income sales and
trading, and serving the middle market with investment banking
services, prime brokerage, and commercial real estate financing. It is
also active in new businesses, including advisory and asset management
services, gaming technology, and e-commerce. It has more than 5,000
Cantor Fitzgerald is one of 22 primary dealers that are authorized to
trade US government securities with the
Federal Reserve Bank of New
Cantor Fitzgerald's 1,600 employees work in more than 30 locations,
including financial centers in the Americas, Europe, Asia-Pacific, and
the Middle East. Together with its affiliates, Cantor Fitzgerald
operates in more than 60 offices in 20 countries and has more than
In 2011, Cantor's affiliate, BGC Partners, expanded into commercial
real estate services by its purchase of
Newmark Knight Frank and the
assets of Grubb & Ellis, to form Newmark Grubb Knight Frank.
1 Early history
2 9/11 attacks
3 Recent history
5 Subsidiaries and affiliates
6 Management and directors
9 External links
Cantor Fitzgerald was formed in 1945 by Bernard Gerald Cantor and John
Fitzgerald as an investment bank and brokerage business. It later
became known for its computer-based bond brokerage, for the quality of
its institutional distribution business model, and for being the
market's premier dealer of government securities.
Cantor Fitzgerald began "large block" sales/trading of
equities for institutional customers. It became the world's first
electronic marketplace for US government securities in 1972 and in
1983, it was the first to offer worldwide screen brokerage services in
US government securities.
Howard Lutnick was named president and CEO of Cantor
Fitzgerald; he became chairman of Cantor Fitzgerald, L.P., in 1996.
One World Trade Center, the building with the antenna to the left,
included the corporate headquarters of Cantor Fitzgerald.
Cantor Fitzgerald's corporate headquarters and New York City
office, on the 101st to the 105th floors of One World Trade
Lower Manhattan (2 to 6 floors above the impact zone of a
hijacked airliner), were destroyed during the September 11, 2001
attacks. At 8:46:46 a.m., six seconds after the tower was struck
by the plane, a
Goldman Sachs server issued an alert saying that its
trading system had gone offline because it was unable to connect with
Cantor Fitzgerald lost 658 of its New York
employees, 68% of its workforce, which was considerably more than any
of the other World Trade Center tenants or the
New York City
New York City Police
Port Authority of New York
Port Authority of New York and New Jersey Police
New York City
New York City Fire Department, or the United States
Department of Defense. Lutnick's brother was among those killed as the
stairwells below them were destroyed or blocked by the plane crash.
Lutnick vowed to keep the company alive, and the company was able to
bring its trading markets back online within a week.
On September 19,
Cantor Fitzgerald made a pledge to distribute 25% of
the firm's profits for the next five years, and it committed to paying
for ten years of health care for the benefit of the families of its
658 former Cantor Fitzgerald, eSpeed, and TradeSpark employees
(profits that would otherwise have been distributed to the Cantor
Fitzgerald partners). In 2006, the company had completed its
promise, having paid a total of $180 million (and an additional
$17 million from a relief fund run by Lutnick's sister,
Until the attacks, Cantor had handled about a quarter of the daily
transactions in the multi-trillion dollar treasury security market.
Cantor Fitzgerald has since rebuilt its infrastructure, partly by the
efforts of its London office, and it now has its headquarters in
Midtown Manhattan. The company's effort to regain its footing was the
subject of Tom Barbash's 2003 book On Top of the World: Cantor
Fitzgerald, Howard Lutnick, and 9/11: A Story of Loss and Renewal as
well as a 2012 documentary, Out of the Clear Blue Sky.
On September 2, 2004, Cantor and other organizations filed a civil
Saudi Arabia for allegedly providing money to the
hijackers and Al Qaeda. It was later joined in the suit by the
Port Authority of New York. Most of the claims against Saudi
Arabia were dismissed on January 18, 2005.
In December 2013,
Cantor Fitzgerald settled its lawsuit against
American Airlines for $135 million.
Cantor Fitzgerald had been suing
for loss of property and interruption of business by alleging the
airline to have been negligent by allowing hijackers to board Flight
In 2003, the firm launched its fixed income sales and trading group.
In 2006, the
Federal Reserve added
Cantor Fitzgerald & Co. to its
list of primary dealers.
In 2009, the firm launched Cantor Prime Services, a provider of
multi-asset, perimeter brokerage prime brokerage platforms to exploit
its clearing, financing, and execution capabilities.
Cantor Fitzgerald began building its real estate business with the
launch of CCRE in 2010.
On December 5, 2014, two
Cantor Fitzgerald analysts were said to be in
the top 25 analysts on TipRanks.
Edie wrote An Unbroken Bond: The Untold Story of How the 658 Cantor
Fitzgerald Families Faced the Tragedy of 9/11 and Beyond. All proceeds
from the sale of the book benefit the
Cantor Fitzgerald Relief Fund
and the charities that it assists.
Cantor Fitzgerald Relief Fund provided $10 million to families
affected by Hurricane Sandy.
Howard Lutnick and the Relief Fund
"adopted" 19 elementary schools in impacted areas by distributing
$1,000 prepaid debit cards to each family from the schools. A
total of $10 million in funds was given to families affected by the
Two days after the
2013 Moore tornado
2013 Moore tornado struck Moore, Oklahoma, killing
24 people and injuring hundreds, Lutnick pledged to donate $2 million
to families affected by the tornado. The donation was given out in the
form of $1,000 debit cards given out to families.
Each year, on September 11,
Cantor Fitzgerald and its affiliate, BGC
Partners, donate 100% of their revenue to charitable causes on their
annual Charity Day, which was originally established to raise money to
assist the families of the Cantor employees who died in the World
Trade Center attacks. Since its inception, Charity Day has raised
$110 million for charities globally.
Subsidiaries and affiliates
The firm has many subsidiaries and affiliates such as the following:
Aqua Securities is an alternative trading system for block trades that
is currently used by nearly 200 institutions and brokers as an
alternative to algorithmic trading of large orders.
BGC Partners, named after fixed income trading innovator and founder
B. Gerald Cantor, is a global brokerage company that services the
wholesale financial markets and commercial real estate marketplace in
New York, London, and other financial centers.
BGC Partners includes
Newmark Grubb Knight Frank, the fourth-largest real estate service
provider in the US.
Cantor Ventures is the corporate venture capital and enterprise
development arm of the company. Led by Henrique De Castro, the group's
current investments include delivery.com, Ritani, TopLine Game Labs,
AdFin, Lucera, NewsWhip, and XIX Entertainment.
Delivery.com is an online destination for consumers to shop in their
neighborhood merchants, including local restaurants, grocers, wine and
liquor stores, florists, and other retail and service providers.
Global Gaming Asset Management is an investment vehicle formed by
Cantor and former executives of
Las Vegas Sands
Las Vegas Sands to invest in, acquire,
develop, manage, and advise casino operators and other gaming assets.
Hollywood Stock Exchange, founded in 1996, is the world's virtual
entertainment stock market.
TopLine Game Labs is a technology company to create short-duration
fantasy sports and entertainment-based social gaming. Headquartered in
Los Angeles, TopLine Game Labs was, in 2013, building a
platform-agnostic architecture to power game experiences for
Management and directors
Howard Lutnick, Chairman and Chief Executive Officer
Shawn Matthews, Chief Executive Officer,
Cantor Fitzgerald &
Anshu Jain, President 
Stephen Merkel, Executive Managing Director, General Counsel,
Secretary and Director
Steve Bisgay, Chief Financial Officer
An employee, Venetia Thompson, published, in February 2008, an article
The Spectator about her and her colleagues' behavior, with an
emphasis on the drinking culture. She was subsequently fired for
gross misconduct. She responded in 2010 by publishing a book, Gross
Misconduct: My Year of Excess in the City, about her experiences.
Howard Lutnick bio". Retrieved June 15, 2012.
Shawn Matthews bio". Retrieved June 15, 2012.
Anshu Jain bio". Retrieved June 15, 2012.
^ "About Us". Cantor Fitzgerald. Retrieved February 6, 2015.
^ "Executive Profile Howard W. Lutnick". Bloomberg Businessweek.
February 11, 2015.
^ "office locations." Cantor Fitzgerald. March 4, 2000. Retrieved on
October 4, 2009.
^ "office locations." Cantor Fitzgerald. August 9, 2001. Retrieved on
October 4, 2009.
^ September 11, 2001 08:46:46 Arch  D ALPHA
^ McCullagh, Declan (November 25, 2009). "Egads! Confidential 9/11
Pager Messages Disclosed". CBS News. Retrieved January 8, 2017.
^ "9/11 hit home for Scott Auker". Manheim Central News. September 11,
2011. Retrieved June 25, 2012.
^ Diebel, Matthew; Cahli, Petra; Navrrao, Bruno; McCartney, Ryan;
Bratu, Becky (2010). "Iconic 9/11 figures: Where are they now?".
^ Jessica Pressler (August 27, 2011). "The Encyclopedia of 9/11:
Cantor Fitzgerald: The firm that lost the most". New York.
^ David Cohen (September 11, 2009). "Cantor Fitzgerald... the City
firm that rose from the 9/11 ashes". London Evening Standard.
^ WTC agency sues Saudis over 9/11, BBC News Online, September 11,
^ Port Authority to Join Suit Against
Saudi Arabia Over 9/11 Attack,
Associated Press, September 13, 2004
^ Glovin, David (18 January 2005). "
Saudi Arabia Wins Dismissal From
Sept. 11 Lawsuits (Update1)". Bloomberg. Retrieved 19 October
^ Benjamin Weiser (December 17, 2013). "
Cantor Fitzgerald Settles 9/11
American Airlines for $135 Million". The New York Times.
Retrieved December 18, 2013.
Cantor Fitzgerald Research Analysts Youssef Squali and Brian White
Recognized In TipRanks' Top 25 Analysts on Wall Street Ranking
Cantor Fitzgerald". www.cantor.com. Retrieved 2017-05-06.
^ Lutnick, Edie (September 11, 2012). "Honor the Past By Building a
Positive Future". Huffington Post.
^ "Cantor Fitzgerald, Robin Hood Sandy Aid Tops $70 Million".
Cantor Fitzgerald gives $10M to victims". Crain's New York
Business. Bloomberg. Retrieved 6 December 2013.
^ Wells, Jesse. "NEW: NY group in 9/11 makes $1000 donations to May
20th storm victims". KFOR-TV. KFOR. Retrieved 6 December 2013.
^ "$1000 gift cards given". NewsOK. NewsOK.com.
^ "Princes Break Trading World Record As Celebs Raise $12M for
Charity". Look to the Stars. September 16, 2013.
^ "Princes Break Trading World Record As Celebs Raise $12M for
Charity". Look to the Stars. 2013-09-16. Retrieved 2017-03-21.
^ Dave, Paresh (June 27, 2013). "TopLine gets $25 million to launch
short-term fantasy game platform".
Los Angeles Times. Tribune.
Retrieved 6 December 2013.
^ a b c d e "MANAGEMENT TEAM". Cantor Fitzgerald. Retrieved 6 December
^ Thompson, Venetia (February 6, 2008). "Essex and the City: my life
as a 'posh bird' broker". The Spectator. Retrieved October 6,
^ Thompson, Venetia (2010-02-04). Gross Misconduct: My Year of Excess
in the City. Simon & Schuster, Limited.
New York City
New York City portal
Cantor Families Memorial
Cantor Relief Fund
On Top of the World: Cantor Fitzgerald, Howard Lutnick, and 9/11: A
Story of Loss and Renewal
Worst-Hit Firm Faults Fairness of Sept. 11 Aid, The New York Times,