May 8, 2013
/PRNewswire/ -- GFI Group Inc. (NYSE: "GFIG") announced today that it has agreed to acquire certain assets of Phoenix Partners Group, an independent interdealer broker operating mainly in the international credit and equity markets. As part of the transaction, GFI will be taking on approximately 32 brokers (divided between
offices) and additional operational and management staff.
with an additional office in
, Phoenix Partners Group provides a range of intermediary services to a largely institutional, financial client base, in credit and equities. In credit,
follows a hybrid business model, combining voice broking with electronic execution.
, CEO GFI Group, commenting on today's announcement, said: "We are very pleased to welcome the team from Phoenix Partners into GFI Group.
and their team share with us the same commitment to providing customers with an execution model that allows for experienced brokers to work hand in hand with the most sophisticated trading technology. This transaction presents numerous synergies and opportunities that we look forward to executing alongside our new colleagues."
, CEO of Phoenix Partners Group said: "This is an exciting moment for our team. We are very happy to be joining GFI, who has a highly focused business model and a firm belief in the critical role experience and technology provide. GFI is an innovator in the brokerage space and we will work to contribute to expanding its presence in the market."
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.