Shaun Lynn, who has been credited with spearheading BGC’s move to spin out from Cantor Fitzgerald, will step away from the day-to-day operations of the business.
Algomi will be integrated with BGC’s electronic trading and software division Fenics, after the deal closed late last week.
The CFTC found that BGC failed to capture voice trade communications over five years.
BGC and GFI were accused of ‘flying’ and ‘printing’ fake FX options trades to deceive clients.
BGC will pay fine after failing to provide audio records and data requested by US financial watchdog.