Exhibit 12

BGC PARTNERS, INC.

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES

	Nine Months Ended September 30, 2014		Year Ended December 31,
			2013		2012		2011		2010		2009
	(dollars in thousands)
Earnings:
Income before income taxes(1)	$	62,301	$	275,429	$	67,512	$	60,964	$	63,855	$	73,175
Add: Fixed charges, net(2)		27,766		39,932		36,385		25,606		15,409		10,363
Income before income taxes and fixed charges, net		90,067		315,361		103,897		86,570		79,264		83,538
Fixed charges, net:
Total interest expense		23,583		32,411		29,419		22,798		14,080		9,920
Amortized premiums, discounts and capitalized expenses related to indebtedness		4,179		5,921		5,466		1,808		129		43
Interest within rental expense		4		1,600		1,500		1,000		1,200		400
Total fixed charges, net		27,766		39,932		36,385		25,606		15,409		10,363
Ratio of earnings to fixed charges		3.2		7.9		2.9		3.4		5.1		8.1

Notes

(1) Income from continuing operations before taxes does not include income or loss from equity investees.

(2) Does not reflect the fixed charges related to the old notes that we issued on December 9, 2014.