DISCLAIMER

ESPEED TRANSACTION DETAILS

3

SELECT 1Q2013 RESULTS COMPARED TO 1Q2012

4

1Q2013 GLOBAL REVENUE BREAKDOWN

5

New York Paris

Hong

Kong London

Singapore

EMEA

40.4%

Americas

48.7%

APAC10.9%

1Q2013 Revenues

1Q2013 PRODUCT DIVERSITY

6

Rates 32.2%

Credit 15.4%

Foreign exchange 13.2%

Equities and other asset classes

8.9%

Real estate brokerage

16.6%

Real estate management

services 8.7%

Other revenues, interest income &

related parties 3.5%

Market data & software solutions

1.5%

1Q2013 SEGMENT DATA

7

1Q2013 Revenues 1Q2013 Revenues Pre-tax

Earnings Pre-tax Margin

Financial $323.8 $64.1 19.8%

Real Estate $114.2 $2.3 2.0%

Corporate $11.7 ($21.2) NMF

In USD millions

Financial Services72.0%

Real Estate Services25.4%

Corporate2.6%

1Q VOLATILITY REMAINED LOW

8

5 Year Average = .51

2H08

AIG/Lehman/etc.

August ‟11

US Debt Downgrade

May „10

Flash Crash

Sept „12

QE 3 Announced

QUANTITATIVE EASING = CURRENT HEADWIND AND FUTURE TAILWIND

9

(2008 = 100) Central Banks Balance Sheet Growth, 2008 - Present

BUSINESS OVERVIEW: RATES

10

Rates32.2%

$0

$100

$200

$300

$400

$500

$600

FY 2011 FY 2012 Q1 2012 Q1 2013

$578.5 $532.4

$146.9 $145.0

(US

D m

illio

ns)

Interest Rate Derivatives

US Treasuries

Global Government Bonds

Agencies

Interest Rate Futures

Dollar Derivatives

Repurchase Agreements

Non-Deliverable Swaps

Interest rate Swaps & Options

Rates Revenue Growth

% of 1Q2013 Total Distributable Earnings Revenue Example of Products

Global sovereign and corporate debt issuance cause long-term tailwinds in our Rates business

Near-term headwinds due to quantitative easing

Low interest rates in most major economies holding down volumes

Reduced front office headcount and consolidated desks to improve long term profitability in this asset class but lowered revenues short-term

Drivers

Fed UST

Primary Dealer Volume

BGC Overall Rates Revenue

CME Rates Volume

Eurex Rates Volume

-10.0%

-5.0%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

BGC RATES REVENUES REFLECT INDUSTRY HEADWINDS

11

24%

(1%)

1%

(4%)

BGC Fully Electronic

Rates Revenue

5%

Credit

15.4%

BUSINESS OVERVIEW: CREDIT

12

Credit Derivatives

Asset-Backed Securities

Convertibles

Corporate Bonds

High yield Bonds

Emerging Market Bonds

Credit Revenue Growth

% of 1Q2013 Total Distributable Earnings Revenue Example of Products

Industry volumes generally lower

Large bank corporate bond trading activity impacted due in part to Basel 3 capital requirements

Reduced front office headcount and consolidated desks to improve long term profitability in this asset class but lowered revenues short-term

Drivers

$0

$100

$200

$300

$400

$500

FY 2011 FY 2012 Q1 2012 Q1 2013

$315.0 $284.6

$84.4 $69.1

(US

D m

illio

ns)

BGC Total Credit

Revenue

TRACE All Bond Dollar Volumes

-30% -25% -20% -15% -10% -5% 0% 5%

BGC‟S CREDIT DESKS IMPACTED BY WEAKER MARKET TRENDS

13

1%

Creditex Revenue (25%)

1Q2013 YoY Growth

Fed Corporate Bond Volume (2%)

(18%)

GFI Fixed Income Revenue (24%)

BUSINESS OVERVIEW: FOREIGN EXCHANGE

14

Foreign Exchange Revenue Growth

% of 1Q2013 Total Distributable Earnings Revenue Example of Products

BGC‟s fully electronic FX revenues have continued to grow faster than overall FX revenues, driven by both derivatives and spot

Low interest rates made carry trade strategies less attractive

Drivers

FX

13.2%

$0

$25

$50

$75

$100

$125

$150

$175

FY 2011 FY 2012 Q1 2012 Q1 2013

$218.4 $208.0

$58.7 $59.3

(US

D m

illio

ns)

1.1%

In virtually all currency pairs

Options

Exotics

Spot

Forwards

Non-deliverable forwards

BGC‟S FULLY ELECTRONIC FX REVENUES OUTPERFORMS MARKET

15

1Q2013 YoY Growth

1% 1%

12%

16%

25%

37%

0%

5%

10%

15%

20%

25%

30%

35%

40%

(Grow

th)

CME FX Futures

Volumes

EBS FX

Average Daily Volumes

BGC’s Fully Electronic

FX Volume

Reuters Spot

FX Volumes BGC Total FX Revenue

BGC’s Fully Electronic

FX Revenue

BUSINESS OVERVIEW: EQUITIES & OTHER ASSET CLASSES

16

Equity Derivatives

Cash Equities

Index Futures

Commodities

Energy Derivatives

Other Derivatives and Futures

Equities & Other Asset Classes Revenue Growth

% of 1Q2013 Total Distributable Earnings Revenue Example of Products

Lower global equity cash & derivatives volumes industry-wide

Negatively impacted by the French & Italian Financial Transaction Taxes

Reduced front office headcount and consolidated desks to improve long term profitability in this asset class but lowered revenues short-term

Drivers

Equities

& Other

8.9%

$0

$25

$50

$75

$100

$125

$150

$175

$200

$225

FY 2011 FY 2012 Q1 2012 Q1 2013

$214.5

$156.1

$43.8$40.0

(US

D m

illi

on

s)

“EQUITIES AND OTHER”: REFLECTS LOWER INDUSTRY VOLUMES

17

1Q2013 YoY Change

-6%

-9% -9%

-12%

-18%

-20%

-10%

0%Eurex Equity

DerivativeVolume

OCC Equity

OptionVolume

BGC Equity &

Other AssetClasses

Revenues

GFI Equity

Revenues

Deutsche

Borse's XetraVolume

BUSINESS OVERVIEW: REAL ESTATE SERVICES

18

Leasing Advisory

Global Corporate Services

Retail Services

Property & Facilities Management

Consulting

Program and Project Management

Industrial Services

Valuation

Property Sales

Capital Markets (Includes: Debt & Equity Raising, Mortgage

) Real Estate Services Revenue

% of 1Q2013 Total Distributable Earnings Revenue Example of Products

Average rents and vacancies improve YoY

Real Capital Analytics commercial sales volumes up 35% YoY

Low interest rates make Real Estate a more attractive investment class

CoStar Value Weighted Composite Index up 5.1% YoY

1Q seasonally slowest

Drivers

Mangament

Services

8.7%

Real Estate

Brokerage

16.6%

$0

$25

$50

$75

$100

$125

Q1 2012 Q1 2013

43.8

$74.8

$3.9

$39.3

Real Estate

Brokerage Rev

(Purple)

Management

Services

(Grey)

$47.7 (total)

$114.1(total)

REAL ESTATE MARKET IMPROVING NATIONALLY

19

US Office & Industrial Market Asking Rent & Vacancy

8.0%

10.0%

12.0%

14.0%

16.0%

18.0%

$22.00

$23.00

$24.00

$25.00

$26.00

$27.00

4Q07 3Q08 2Q09 1Q10 4Q10 3Q11 2Q12 1Q13

Asking Rent (Price/SF) Vacancy Rate (%)

Asking Rent and Vacancy

0.0%

2.5%

5.0%

7.5%

10.0%

12.5%

$4.50

$4.75

$5.00

$5.25

$5.50

$5.75

4Q07 3Q08 2Q09 1Q10 4Q10 3Q11 2Q12 1Q13

Asking Rent (Price/SF) Vacancy Rate (%)

Asking Rent and VacancyAsking Rent & Vacancy (Office)

Asking Rent & Vacancy (Industrial)

QUARTERLY SALES MARKET TRENDS CONTINUE TO IMPROVE

20

Real Capital Analytics commercial sales volumes up 35% YoY

Cap rates remain well above 10-year UST yields.

Average Cap Rates by Sector

Transaction Volume

U.S. Composite Indices: Equal– and Value-Weighted Data

Through Feb 2013

Value-Weighted up 5.1% YoY

Equal-Weighted up 6.0% YoY

BGC‟S FRONT OFFICE OVERVIEW

21

Front Office Productivity (in thousands) Front Office Headcount

1,761 1,757 1,735 1,721 1,641

409854 840 830 894

0

500

1,000

1,500

2,000

2,500

1Q2012 2Q2012 3Q2012 4Q2012 1Q2013Real Estate Financial Brokerage

$0

$200

$400

$600

$800

$1,000

$1,200

2011 2012 1Q2012 1Q2013

$776

$639

$180 $154

($ t

ho

usa

nd

s)

(Fro

nt O

ffic

e E

mplo

yees)

2,170

2,611 2,551 2,575

2,535 (total)

$10

$15

$20

$25

$30

$35

$40

$45

1Q2012 2Q2012 3Q2012 4Q2012 1Q2013

$38.3$36.5

$35.8

$33.3

$39.6

($ m

illi

on

s)

$5

$10

$15

1Q2012 2Q2012 3Q2012 4Q2012 1Q2013

$13.5$13.4

$11.6

$9.7

$13.2

($ t

rill

ion

s)BGC‟S FULLY ELECTRONIC BROKERAGE METRICS

22

Fully Electronic Brokerage Notional Volumes (in trillions)

•

•

Fully Electronic Revenues (in millions)*

23

BGC‟S TECHNOLOGY-BASED BUSINESSES HAVE HIGHER

MARGINS

Percentage of fully electronic from each of ≈105 e-brokered desks

range from <10% to 100%

Profit margins = highest for US Treasuries, spot FX, Market Data and

Software Solutions

Profit margins for retained electronic products vary, though are

generally higher than for voice-brokered products

Over time, we believe margins for newer e-brokered products

should expand as their markets mature

• “

*BGC is selling only its on-the-run, benchmark 2-, 3-, 5-, 7-, 10-, and 30-year fully electronic trading platform for U.S.

Treasury Notes and Bonds. For the purposes of this analysis, the assets being sold to NASDAQ OMX are referred to as

“eSpeed.”

Voice/Hybrid 85.7%

RetainedTech***

7.0%

eSpeed7.3%

24

TECHNOLOGY BASED BREAKDOWN 1Q2013

**Other Technology Revenues = fully electronic brokerage, fees from related parties related to fully electronic trading, market data, and software solutions.

*** Retained Tech remains with BGC

Technology-Based Products** = 14.3% of Total

Financial Services Revenues

*BGC is selling only its on-the-run, benchmark 2-, 3-, 5-, 7-, 10-, and 30-year fully electronic trading platform for U.S.

Treasury Notes and Bonds. For the purposes of this analysis, the assets being sold to NASDAQ OMX are referred to as

“eSpeed.”

$63.6$70.2

$61.3

$34.2

$34.1

$32.2

$0.0

$20.0

$40.0

$60.0

$80.0

$100.0

$120.0

FY2010 FY2011 FY2012

$42.3

$65.4$71.5

$6.0

$6.0

$6.2

FY2010 FY2011 FY2012

$16.5 $15.8

$8.8$7.8

$0.0

$5.0

$10.0

$15.0

$20.0

$25.0

$30.0

1Q2012 1Q2013

$19.0$21.0

$1.4

$1.7

1Q2012 1Q2013

NEWER TECH BASED PRODUCTS SHOW FASTER GROWTH

11%

25

(11%)

(7%)

30%

-2%

-3%

Note: eSpeed figures exclude revenues included in corporate items.

BGC is selling only its on-the-run, benchmark 2-, 3-, 5-, 7-, 10-, and 30-year fully electronic trading platform for U.S. Treasury Notes and Bonds

2010-2012

CAGR

YoY Change

$25.3

$20.4

$97.9

$104.3

$93.6

18%

27%

11%

1%

$23.6

YoY Change

(4%)

$22.7

2010-2012

CAGR

-2%

$48.3

$71.4 $77.7

26

REVENUE AND PROFIT BY EXECUTION METHOD

Revenues related to

fully electronic

trading* = 10.7% of

total DE revenues

in 1Q2011 vs. 9.0%

in 1Q2010

In $MM

Note: For all periods, “Technology Based” revenues includes fully electronic trading in the “total brokerage revenues” GAAP income statement line

item, the portion of “fees from related parties” line item related to fully electronic trading, all “market data” revenues , and all “software solutions”

revenues. Real Estate revenues are included in Voice/Hybrid.

Technology

- Based

Voice /

Hybrid

Corporate /

Other Total

Technology

- Based

Voice /

Hybrid

Corporate /

Other Total

Revenue $46 $392 $12 $450 $46 $347 $11 $404

Pre-Tax DE $25 $41 ($21) $45 $24 $53 ($19) $58

Pre-tax DE Margin 54% 10% NMF 10% 53% 15% NMF 14%

Technology

- Based

Voice /

Hybrid

Corporate /

Other Total

Technology

- Based

Voice /

Hybrid

Corporate /

Other Total

Revenue $171 $1,532 $48 $1,751 $176 $1,251 $50 $1,476

Pre-Tax DE $85 $173 ($62) $196 $90 $208 ($61) $237

Pre-tax DE Margin 50% 11% NMF 11% 51% 17% NMF 16%

FY2012

Q1 2013

FY2011

Q1 2012

LARGE BANKS AND IDBS EXPECTED TO GROW ELECTRONIC TRADING

INDUSTRY-WIDE

2

7

Estimates per McKinsey, Oliver Wyman, Greyspark, JP Morgan

27

70

55 - 65

40 - 50 40

30

75 80

65 - 75

60 60

50

85

CDS Index FX Spot European Govt Bonds

Precious Metals

U.S. Treasuries Cash Equities

2012

2015 estimate

BGC PARTNERS COMPENSATION RATIO

28

$713.3 $749.8 $793.5$1,036.8

$277.6

60.9%

56.2% 53.8%

59.2% 61.7%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

$0

$100

$200

$300

$400

$500

$600

$700

$800

$900

$1,000

$1,100

2009 2010 2011 2012 1Q2013

($ m

illio

ns)

Compensation and Employee Benefits Compensation and Employee Benefits as % of Total Revenue

NON-COMPENSATION EXPENSES & PRE-TAX MARGIN

29

9.8%13.8%

16.1%11.2% 10.0%

29.2% 30.0% 30.2% 29.6%28.3%

0%

10%

20%

30%

40%

50%

Pre-tax distributable earnings as % of Total Revenue Non-comp Expenses as a % of Total Revenue

FY 2009 FY 2010 FY 2011 FY 2012

1Q2013

ADJUSTED EBITDA

30

BGC Partners, Inc

Reconciliation of GAAP Income to Adjusted EBITDA

(and Comparison to Pre-Tax Distributable Earnings, in $000s)

Q1 2013 Q1 2012 FY 2012 FY 2011

Income from operations before income taxes 13,697$ 18,912$ 55,737$ 54,359$

Add back:

Employee loan amortization 9,459 6,953 35,596 31,785

Interest expense 9,700 7,558 34,885 24,606

Fixed asset depreciation and intangible asset amortization 12,569 12,515 50,985 49,281

Impairment of fixed assets 413 773 1,255 785

Exchangeability charges (1) 10,584 25,930 127,112 108,341

Losses on equity investments 3,288 2,456 11,775 6,605

Adjusted EBITDA 59,710$ 75,097$ 317,345$ 275,762$

Pre-tax distributable earnings 45,119$ 58,239$ 196,015$ 236,952$

(1) Represents non-cash, non-economic, and non-dilutive charges relating to grants of exchangeability to limited partnership units.

118

108

122

113

119

105

97

107

122

115 115

93

$122

$112

$131

$107

$129 $129

$114

$134 $132

$112 $112

$84

50

75

100

125

150

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2010 Revenue

2011 Revenue

116120 120

100

118

10499

93

112108

100

80

$127

$107 $102

$108

50

75

100

125

150

175

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Chart Title

2012 Revenue

2013 Revenue

MONTHLY REVENUE EXCLUDING REAL ESTATE SERVICES ($MM)

31

BG

C M

on

thly

Dis

trib

uta

ble

Earn

ing

s

Re

ve

nu

es

($

MM

)

April down about

1% per day, up

9% overall

Revenue for August

2010 included $11.6M in

“other revenues” as the

result of a favorable

arbitration ruling

pertaining to Refco

Securities.

BGC‟S ECONOMIC OWNERSHIP AS OF 3/31/13

32

Public

38%

Cantor

23%

Employees,

Executives, & Directors

39%

Newmark Grubb Knight Frank

($ in millions) 2Q2012 3Q2012 4Q2012 1Q2013 SUM

Actual Revenues $144.1 $141.1 $148.7 $114.2 $548.0

Actual YoY Revenue Change NA NA $91.6 $66.3 NA

Actual YoY % Change NA NA 160% 139% NA

Adjusted Revenues $132.1 $135.9 $144.2 $112.4 $524.5

Adjusted YoY Revenue Change NA NA $87.1 $64.5 NA

Adjusted YoY % Change NA NA 152% 135% NA

Note: Grubb & Ellis Acquisition closed April 13, 2012.

NGKF REVENUE ANALYSIS

33

AVERAGE EXCHANGE RATES

34

Average

1Q2013 1Q2012 April 2013 April 2012

US Dollar 1 1 1 1

British Pound 1.554 1.571 1.530 1.600

Euro 1.321 1.311 1.301 1.317

Hong Kong Dollar 0.129 0.129 0.129 0.129

Singapore Dollar 0.808 0.791 0.808 0.799

Japanese Yen* 92.210 79.270 97.780 81.430

* Inverted

RECENT FINANCIAL INDUSTRY RECOGNITION

35

RECENT NGKF INDUSTRY RECOGNITION

36

DISCLAIMER