E-Speed, the electronic bond trading platform owned and operated by Cantor Fitzgerald, became profitable for the first time in the last quarter of last year.

For the fourth quarter 2001, E-Speed reported net operating income of $4.5m (€5.1m), or eight cents per share, compared with an operating loss of $5.2m, or 10 cents per share for the same period last year. Analysts had expected the company to post earnings of two cents per share.