Cantor Fitzgerald Acquires Chapel Hill Broadband Brokerage Firm; Global Financial Services Firm Expands Telecoms Brokerage Capabilities.Business Editors NEW YORK--(BUSINESS WIRE)--July 10, 2001 Cantor Fitzgerald Cantor Fitzgerald L.P. is a global financial services firm specializing in bond trading, as well as investment banking, asset management, market data and brokerage services. , LP, a leading financial institution providing a broad spectrum of services to the largest global financial markets, today announced that it has acquired Chapel Hill Broadband, Inc., a closely-held, over-the-counter broadband brokerage firm based in Cary, North Carolina Cary is the second largest municipality in Wake County, North Carolina and the third largest municipality in The Triangle (North Carolina) behind Raleigh and Durham. It is the seventh largest municipality in North Carolina. . The purchase enables Cantor Fitzgerald to expand its existing wholesale broadband commodity brokerage Noun 1. commodity brokerage - a brokerage firm dealing in commodities brokerage - the business of a broker; charges a fee to arrange a contract between two parties offering to include fiber-optic infrastructure assets such as dark fiber, conduit and rights of way. With this acquisition, Cantor Fitzgerald will become one of the only firms to broker both physical and commoditized telecom products. "This acquisition is part of Cantor Fitzgerald's global strategy of expanding into the wholesale telecom markets," said Joseph Shea For other uses of "Joseph Shea", see Joseph Shea (disambiguation). Joseph Shea was convicted of murder after confessing to the murder of Mary Meslener in the winter of 1959 in Dade County, Florida. , Executive Managing Director of Cantor Fitzgerald. "Chapel Hill's strengths in the physical broadband markets truly complement ours in the financial. Through this acquisition we are solidly positioning Cantor as a leader in a young marketplace with huge potential." Brent Wilkins, former President and one of the founders of Chapel Hill will become Managing Director of the new Cantor Telecom group. "We're excited to have the opportunity to leverage Cantor Fitzgerald's relationships and global reach, and to enhance the range of services we provide our customers." The Cantor Telecom group will have offices in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. and Cary, North Carolina. About Cantor Fitzgerald L.P. Cantor Fitzgerald is a global financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. firm with operating units that are involved in a variety of market-based business initiatives. From its position as the leading financial intermediary Financial Intermediary An institution that acts as the middleman between investors and firms raising funds. Often referred to as financial institutions. Notes: This can include chartered banks, insurance companies, investment dealers, mutual funds, and pension funds. in both the equity and fixed income markets, Cantor has expanded the scope of its business to include market data distribution, investment banking, energy market services, financial spread betting, program trading program trading, a form of securities trading, also known as index arbitrage. Program traders exploit the price discrepancies between indexes of stocks and futures contracts by using sophisticated computer models to hedge positions. and electronic trading technology. Cantor brings its experience and expertise in the financial markets and its legacy of innovation in technology to benefit institutional investors and traders around the world. Whether it's creating new products and services or enabling its clients to trade more efficiently and effectively through cutting edge technological solutions, Cantor is re-inventing markets every day. For more information about Cantor Fitzgerald visit www.cantor.com. About Chapel Hill Broadband, Inc. Chapel Hill Broadband is a carrier-neutral brokerage firm specializing in physical and financial brokering of broadband services. The company's mission is to become the leading broker of physical broadband products. For more information about Chapel Hill, visit www.chbroadband.com. |
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