Cantor Fitzgerald merges BGC and eSpeed

Cantor Fitzgerald is merging its electronic and voice brokerages eSpeed and BGC Partners to form BGC Partners Inc. Both firms had been spun out of Cantor as separate companies in the past: eSpeed in 1999 and BGC in 2004. Now they've decided they're better off back together.

The move comes after Cantor blocked a takeover bid for eSpeed from rival Tullett Prebon in April. But Lee Amaitis, chairman and chief executive officer of BGC and vice chairman of eSpeed, says the decision to merge is

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