London, June 7th 2007 – GFI Group Pte Ltd, a subsidiary of GFI Group Inc. (GFIG on Nasdaq), has been named top Singapore Exchange (SGX) AsiaClear FFA broker. This is for the first year of the operation of AsiaClear, the exchange’s OTC clearing business and facility for energy and freight derivatives. The award is based on trade value executed.
Mr Benjamin Foo, head of clearing and commodities business at SGX said, “This award is in recognition of GFI and ACM/GFI’s contribution to the development and growth of SGX AsiaClear’s dry and wet FFA clearing”
Simon Pallant, ACM/GFI’s freight derivatives manager, formally received the award last night on behalf of GFI. This was at SGX AsiaClear’s first anniversary cocktail and awards presentation at the Asian Civilizations Museum in Singapore.
“GFI is honoured to receive this award”, said Mr Pallant. “Having been closely involved with the freight element of SGX AsiaClear from the early stages, GFI is very pleased to see the increased profile of the exchange in Asia and beyond, in what is competitive clearing environment. We congratulate all at SGX on their hard work and dedication in getting both energy and freight products to market and we look forward to its continued growth and success”.
GFI and ACM/GFI ? a joint venture between GFI Brokers Ltd and ACM Shipping Ltd, a shipbroker – provide broking services for wet and dry freight derivatives in Singapore, Tokyo, London, Cape Town and New York.
About GFI Group Inc. www.GFIgroup.com
GFI Group Inc. (www.GFIgroup.com) is a leading inter-dealer broker specializing in over-the-counter derivatives products and related securities. GFI Group Inc. provides brokerage services, market data and analytics software products to institutional clients in markets for a range of credit, financial, equity and commodity instruments.
Headquartered in New York, GFI was founded in 1987 and employs more than 1,500 people with additional offices in London, Paris, Hong Kong, Seoul, Tokyo, Singapore, Sydney, Cape Town, Englewood (NJ), and Sugar Land (TX). GFI provides services and products to over 2,000 institutional clients, including leading investment and commercial banks, corporations, insurance companies and hedge funds. Its brands include GFI™, Starsupply®, GFInet®, CreditMatch®, FENICS® and Amerex®.
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 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; and uncertainties relating to litigation. 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.
GFI Group Inc.
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