Sept. 16, 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 its subsidiary, GFI Swaps Exchange LLC, has received temporary registration approval from the Commodity Futures Trading Commission ("CFTC") to operate a Swap Execution Facility ("SEF") for the trading of regulated swaps.
GFI Swaps Exchange will list CFTC regulated swaps in fixed income, interest rates, foreign exchange, energy, commodity and equity markets. It will offer its members a comprehensive range of electronic and other methods of trade execution, including central limit order book, electronic request for quote ("RFQ"), voice-based request-for-quote, Request for Match
, session-based matching and join-the-trade. GFI's SEF will also facilitate execution of brokered trades, cross trades and block trades.
GFI Swaps Exchange will include the following trading systems: CreditMatch®, GFI ForexMatch®, GFI RatesMatch® and EnergyMatch®.
, CEO, GFI Group said: "With the approval of GFI's SEF
we are able to provide our existing and future clients with regulatory certainty, choice and flexibility in their method of execution within the new market structure created by the Dodd-Frank Act. Becoming a SEF was a natural step in the evolution of GFI. Our investment in trading technology has allowed GFI to be amongst the first to receive a temporary registration from the CFTC."
Mr. Heffron added: "We believe the introduction of SEFs will contribute to the transparency of the U.S. swaps markets while preserving their trading efficiency and deep liquidity."
GFI Swaps Exchange will commence operations by the CFTC's mandatory compliance deadline of
, 2013. Until
, GFI clients can continue to transact through GFI's existing full suite of electronic, hybrid and voice brokerage services.
Clients interested in applying for Participant status in GFI Swaps Exchange should contact
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.
, GFI was founded in 1987 and employs more than 2,000 people with additional offices in
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 GFI
, 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.
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