GFI Group Inc
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| GFI Group Inc. | |
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| Founded | 1987 |
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| Headquarters | New York, USA |
| Key People | Colin Heffron, President and CEO |
| Employees | 1500+ |
| Products | Brokerage services, market data, analytics software |
| Corporate Website | www.GFIgroup.com |
GFI Group Inc. (NASDAQ: GFIG) is an interdealer broker that specializes in over-the-counter derivatives products and related securities.
The company, founded in 1987, provides brokerage services, market data, and analytics software products to institutional clients - investment and commercial banks, corporations, insurance companies, hedge funds - in markets for a range of credit, financial, equity and commodity instruments.
The company is headquartered in New York and has offices in London, Paris, Cape Town, Hong Kong, Seoul, Shanghai, Tokyo, Singapore, Sydney, Englewood (NJ), and Sugar Land (TX). Its brands include GFI, Starsupply, GFInet, CreditMatch, ForexMatch, EnergyMatch, FENICS and Amerex Brokers LLC. In September of 2012, it was announced that GFI group had been granted the license to open an office in Mexico by Mexican regulator Comisión Nacional Bancaria y de Valores (CNBV).[1]
GFI is a member of the following exchanges: International Securities Exchange, the London Stock Exchange, Eurex and Euronext.liffe.[2]
Contents |
History
On Feb 1, 2008, GFI announced it had acquired trading software company Trayport Ltd.. GFI said in a press release that Trayport had established a leading position in supplying software to the European over-the-counter energy markets including electric power, natural gas, coal, emissions and freight. Trayport's software had been installed on more than 10,000 trading screens worldwide, dealing in over 2,000 different trading instruments and supporting over 50 marketplaces across 15 countries. Trayport had estimated revenues of $28 million for their fiscal year ending Jan. 31, 2008. GFI paid approximately $164 million for Trayport. [3]
On Nov. 29, 2010, GFI was named Commodity Broker of the Year by Commodities Business Awards.[4]
In March 2013, GFI Group filed with the CFTC to create a futures exchange called GFI Futures Exchange LLC. According to a company spokeswoman, GFI is creating the new exchange in order to be prepared to serve its clients' needs across all markets at a time when the regulatory treatment of futures and swaps under the Dodd-Frank Act is still unclear.[5] GFI has said it intends to register as a swap execution facility (SEF) under the CFTC's rules.
Products and Services
GFI provides voice brokerage services in each of the markets in which it operates. These are typically illiquid and more complex than the markets for more standardized financial instruments. In GFI’s less commoditized markets brokers use their position at the center of information flows to source the best price.
Since 1999, GFI has been deploying hybrid solutions in a number of markets by using online or electronic systems to support its voice brokerage operations in delivering efficient deal execution. GFI’s hybrid solution operates in many of its markets, including currency derivatives, credit derivatives, North American, European and UK electricity, freight derivatives, emissions and North American and European weather. These solutions are currently marketed under the names of CreditMatch[6], ForexMatch®[7], EnergyMatch[8] and EnergyMatch Europe[9].
GFI makes it its market data available through a number of channels including, streaming web portals, FTP file downloads, FENICS analytics and data vendors. Each channel is tailored to suit front, middle or back office requirements. Currently available data sets include: FX options, credit derivatives, European repo, European energy, emerging market bonds, North American energy.
GFI also sells FENICS[10], a derivative pricing tool which can be deployed to cover the FX, credit, freight or energy markets and is used as a front office platform for pricing and analyzing derivatives.
Key People
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Colin Heffron | President and CEO |
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Robert Roberto | Head of Equities North America |
References
- ↑ Press Release. GFI.
- ↑ Structure & Management. GFI Group.
- ↑ Press Release. GFI Group.
- ↑ Commodity Broker of the Year 2010: GFI Group. Commodities Now.
- ↑ GFI Group Files With Regulator to Create Derivatives Exchange. Bloomberg News.
- ↑ CreditMatch. GFI Group.
- ↑ ForexMatch. GFI Group.
- ↑ EnergyMatch. GFI Group.
- ↑ EnergyMatch Europe. GFI Group.
- ↑ Fenics. GFI Group.
