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Cantor Fitzgerald, formerly the world's leading voice-broker between brokers and dealers in the giant U.S. Treasuries market, prepared for the future by developing and building an electronic trading platform — eSpeed — as early as 1996.
Since then, we've proven ourselves invaluable to hundreds of the world's leading financial institutions. We are trusted behind their firewalls, helping them get the best trade possible.
Their judgment was sound. On September 13, 2001, after the unfathomable events of September 11th, 2001 when eSpeed lost 180 of its employees as well as its global headquarters, eSpeed handled the majority of the volume when bond trading resumed in the U.S. only 2 days later. Our European and Asian services were never interrupted.
Today, our years of experience, development, and dedication to defining marketplaces has resulted in eSpeed being the leading technology provider for the world's financial electronic marketplaces.
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- 1945: Bernie Cantor and John Fitzgerald team up to create bond brokerage Cantor Fitzgerald.
- 1972: Cantor Fitzgerald introduces the world's first electronic marketplace ("screen brokerage") for US government securities, after acquiring Telerate.
- 1991: Howard Lutnick named president of Cantor Fitzgerald.
- January 1996: Cantor Fitzgerald begins using the eSpeed® system internally to conduct electronic trading.
- March 1999: The first fully electronic transaction, using the eSpeed system, is executed by a Cantor Fitzgerald client.
- December 1999: eSpeed is spun off from Cantor Fitzgerald in a $220 million Initial Public Offering.
- February 1, 2001: eSpeed signs software solutions deal with Federal Home Loan Bank
- September 11, 2001: Cantor Fitzgerald, eSpeed and TradeSpark lose 658 people in the attack on the World Trade Center—nearly one quarter of the total casualties, an unfathomable human tragedy. Everything we've done since has been a response to this catastrophic event. Instead of being defeated by the destruction of our headquarters and the disarray of our surviving organization, we advanced with even stronger purpose.
- September 13 2001: Thanks to the tremendous efforts of our team, our redundant backup systems bring the enormous US Treasuries market back online (days ahead of the New York Stock Exchange reopening).
- December 31, 2001: eSpeed concludes its first ever profitable quarter. All those who built our company now have a tangible legacy.
- December 17, 2002: eSpeed offers world's largest combined electronic cash and futures market through agreement with Chicago Board of Trade.
- April, 2003: eSpeed continues to expand the breadth of products available on its system with the launch of Foreign Exchange.
- August 2003: eSpeed announces expansion into Mortgage Backed Securities and Interest Rate Swaps.
- November 12, 2003: eSpeed enters equities market with launch of new order routing system
- October 20, 2004: eSpeed acquires ITSEcco Holdings Limited to enhance electronic trading
- June 1, 2005: Nextel and eSpeed introduce first wireless bond trading application on the Blackberry Platform
- April 4, 2006: eSpeed launches wireless trading and market data application on Microsoft Windows mobile 5.0 platform for benchmark U.S. treasuries and foreign exchange
- January 3, 2007: eSpeed launches AQUA, a new electronic trading platform focused on creating access to new pools of block liquidity for institutions, brokers, and hedge funds
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eSpeed is publicly traded on the NASDAQ as symbol ESPD. Visit our Investor Relations section to learn more about Investing in eSpeed.
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eSpeed is transforming the way people trade. To read more about us click here.
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