BGC To Sell Exchange, Clearinghouse To Fanatics
BGC Group (BGC) agreed with Fanatics to sell Water Street Labs and CX Clearinghouse to Fanatics. Fanatics plans to use the federally regulated exchange and clearinghouse to expand prediction market offerings on Fanatics Markets and combine its consumer platform with BGC’s trading and liquidity infrastructure. BGC will also provide market data and analytics. BGC shares rose in pre-market to $11.81.
