Based in London, Mr Stone will be responsible for all of BGC's client services, business development and support in the fixed income product area. He will also be involved in the continued rollout of BGC Trader to all BGC clients and the upcoming rollout of BGC Broker as BGC continues to expand.

This is a new role and comes at a time of continued rapid growth for the company, which is expected to merge with eSpeed in the first quarter of 2008, subject to the necessary approvals. Mr Stone will report directly to Philip Norton, Executive Managing Director, e-Commerce who is based at BGC's headquarters in London.

Mr Stone has 25 years' experience in financial markets and joins BGC from BrokerTec where he worked as Head of Electronic Trading for European Government Bonds (EGBs). Prior to this, Mr Stone worked at Tullett Liberty as a broker of EGBs and before that at Cantor Fitzgerald as a broker and then senior broker of EGBs.

Commenting on the appointment, Mr Norton said, "To remain at the forefront of hybrid voice and electronic services, it is essential that we attract the most experienced staff in the market. Andrew will be able to leverage his successful experience of e-trading and broking to become a great asset to our expanding e-Commerce team."

Mr Stone said, "I'm delighted to be joining BGC's e-commerce team at such an exciting time to help strengthen the ongoing development of its fixed income products and to further enhance the brand for its clients and brokers around the world."