Cantor Fitzgerald Strengthens Equities Trading Execution Capabilities

    Edward Laux and William Clark Are Promoted, and Industry Veteran Michael
Ferry Joins Equity Capital Markets

    NEW YORK, October 19 /CNW/ - Cantor Fitzgerald & Co. today announced that
it is strengthening its equities trading business with the appointment of
Edward Laux, currently Head of Listed Trading, to the new role as Head of
Trading in the U.S. In addition, William Clark, senior OTC trader, along with
Michael Ferry, who is joining Cantor, have been named to the new positions of
Co-heads of OTC Trading. Tony Manzo, who has served as Managing Director of
OTC Trading, is retiring from that position, and will continue to serve
Cantor's equities trading team in a consulting role.

    In announcing the appointments, Philip Marber, President and CEO of
Cantor Fitzgerald Equity Capital Markets, said, "Ed Laux's deep knowledge of
the marketplace and unwavering commitment to outstanding service and
execution, combined with his leadership strengths, make him an ideal choice to
take on his new role as Head of Trading in the U.S. We look forward to Ed's
further contributions in meeting our clients' needs and driving the growth of
our business."

    Mr. Marber added, "We are indebted to Tony for his deep commitment,
passion and vigor in growing our business over the past six years. His work in
re-building the OTC Desk after 9/11 is a testament to his dedication and

    "As we marshal our resources in new ways to create greater efficiencies
in serving our clients," Mr. Marber said, "Billy Clark will leverage his
proven trading skills in the new role as Co-head of OTC Trading. In Billy's
six years with Cantor, he's demonstrated time and again the ability to help
clients achieve their strategic objectives. Adding further to our team, we're
also delighted to welcome Michael Ferry to Cantor as Co-head of OTC Trading.
Mike brings a strong record of outstanding client service and exceptional
effectiveness in trading execution."

    About Cantor Fitzgerald, L.P.

    The Equity Capital Markets business of Cantor Fitzgerald & Co., a leading
global financial services firm, is one of the world's largest third-market
brokers. Known for efficiency and effectiveness of execution and cross-ratios,
Cantor Fitzgerald Equity Capital Markets offers clients trading services in
exchange-traded and over-the-counter cash equities, equity and index options,
convertible and structured products, and risk arbitrage, program trading, and
stock lending services. Combined with Cantor's broad distribution network and
global trading platform, our U.S. equity research adds value and visibility to
small and mid-cap companies in key sectors of the economy.

    The Cantor Fitzgerald franchise includes institutional equity and fixed
income sales and trading, investment banking, private equity, and asset
management, as well as other businesses and ventures. For nearly 60 years,
Cantor Fitzgerald, a proven and resilient leader, has been committed to
delivering a unique brand of unparalleled product expertise, innovative
technology and customer service to its clients around the world.

    For more information, please visit

    Note to Editors: Cantor Fitzgerald, L.P. is the parent company of Cantor
Fitzgerald & Co.

For further information:

For further information: Cantor Fitzgerald Melanie Gordon, 212-610-2314
Mobile 917-674-5815 or Robert Hubbell, 212-294-7820

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