GFI Group Files SEF Application With The CFTC
NEW YORK, July 22, 2013 /PRNewswire/ -- GFI Group Inc. (NYSE: GFIG), a leading provider of wholesale brokerage, electronic execution and trading support products for global financial markets, today announced that it has filed an application with the Commodity Futures Trading Commission ("CFTC") to become a multi-asset Swap Execution Facility ("SEF") under the CFTC's recently announced SEF rules issued pursuant to the Dodd-Frank Act.
GFI Group operates marketplaces for trading swaps in a range of financial, fixed income, equity and commodity asset classes. GFI's services allow counterparties to execute trades through a wide selection of electronic and other trading methods, including central limit order books, matching and Request for MatchSM, join-the-trade, request-for-quote (RFQ) and hybrid voice/electronic trade execution.
"This is an important day in the history of our company and for the swaps markets," said Colin Heffron, Chief Executive Officer of GFI Group, "For more than 25 years, GFI has provided market participants around the world with safe, liquid and transparent venues for trading swaps and other financial and commodity products. GFI's long standing commitment to technology investment and innovation enables us to be one of the first to file for designation with the CFTC as a 'swap execution facility'. GFI looks forward to continuing to serve market participants in swaps and other products in the emerging regulatory landscape with deep and transparent liquidity, leading electronic trade execution, attentive customer service and unbiased market connectivity."
GFI Group operates a broad range of electronic trading platforms: GFI CreditMatch®, EnergyMatch®, RatesMatchSM and GFI ForexMatch®.
About GFI Group Inc.
GFI Group Inc. (NYSE: "GFIG") is a leading provider of wholesale brokerage services, clearing services, electronic execution and trading support products for global financial markets. GFI Group Inc. provides brokerage services, market data, trading platform and analytics software products to institutional clients in markets for a range of fixed income, financial, equity and commodity instruments.
Headquartered in New York, GFI was founded in 1987 and employs more than 2,100 people with additional offices in London, Paris, Nyon, Hong Kong, Manila, Seoul, Tokyo, Singapore, Sydney, Cape Town, Santiago, Bogota, Buenos Aires, Lima, Dubai, Dublin, Tel Aviv, Los Angeles and Sugar Land (TX). GFI Group Inc. provides services and products to over 2,600 institutional clients, including leading investment and commercial banks, corporations, insurance companies and hedge funds. Its brands include GFISM, GFInet®, CreditMatch®, GFI ForexMatch®, EnergyMatch®, FENICS®, Starsupply®, Amerex®, Trayport® and Kyte®.
Certain matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "might," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of GFI Group Inc. (the "Company") and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: economic, political and market factors affecting trading volumes; securities prices or demand for the Company's brokerage services; competition from current and new competitors; the Company's ability to attract and retain key personnel, including highly-qualified brokerage personnel; the Company's ability to identify and develop new products and markets; changes in laws and regulations governing the Company's business and operations or permissible activities; the Company's ability to manage its international operations; financial difficulties experienced by the Company's customers or key participants in the markets in which the Company focuses its brokerage services; the Company's ability to keep up with technological changes; uncertainties relating to litigation and the Company's ability to assess and integrate acquisition prospects. Further information about factors that could affect the Company's financial and other results is included in the Company's filings with the Securities and Exchange Commission. The Company does not undertake to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE GFI Group Inc.