New York June 11. 2009. – GFI Group (Nasdaq: “GFIG”) announces the introduction of OTC Dry Freight Forward Freight Agreements “FFA” onto GFI’s European multi-commodity platform EnergyMatch® Europe. This addition reinforces GFI’s commitment to hybrid brokerage of a range of Freight-related products.
EnergyMatch® Europe reflects GFI’s hybrid broking strategy where experienced voice brokers assist GFI’s multi-commodity platform users in executing their orders. By operating solely in the cleared market (via both LCH.Clearnet and NOS Clearing) EnergyMatch® Europe minimises the effects of counterparty exposure while providing transparency of market pricing. The addition of dry freight onto EnergyMatch® Europe is a natural extension to the success of the hybrid broking strategy employed by GFI in other commodity markets, such as coal.
Dorian Benson, Global Dry Freight desk head at GFI said: “Having developed an extensive client base through our global reach since the inception of the dry freight desk in 2005, this roll-out will greatly enhance GFI Freight’s value proposition for our clients”. “We are seeing a favorable response to the new screen with a wide spectrum of global clients being actively engaged and also providing positive feedback”, he added.
GFI provides Freight-related brokerage services from its offices in London, New York, Shanghai, Singapore, and Cape Town, providing unparalleled solutions covering: • Wet and Dry Freight (FFAs) • Voice and Screen based Execution • Physical Dry Freight • Market Data • Research • Pricing & Analytics. GFI’s freight brokers operate as a global team, having strong synergies with other GFI commodity desks and focusing on a client based formula. This allows for a greater depth of understanding of the ‘cross-fertilisation’ across vessel types, options delta and gamma hedging.
About GFI Group Inc. www.GFIgroup.com
GFI Group Inc. (http://www.GFIgroup.com) is a leading provider of wholesale brokerage, 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 credit, financial, equity and commodity instruments.
Headquartered in New York, GFI was founded in 1987 and employs more than 1,700 people with additional offices in London, Paris, Hong Kong, Seoul, Tokyo, Singapore, Sydney, Cape Town, Santiago, Dubai, Tel Aviv, Calgary, Englewood (NJ) and Sugar Land (TX). GFI provides services and products to over 2,100 institutional clients, including leading investment and commercial banks, corporations, insurance companies and hedge funds. Its brands include GFI(TM), GFInet(R), CreditMatch(R), GFI ForexMatch(R), EnergyMatch(R), FENICS(R), Starsupply(R), Amerex(R), and Trayport(R).
Forward-looking statement
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: acquisitions by us of businesses or technologies; 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.
For any queries or additional information please contact:
Patricia Gutierrez
Vice President – Public Relations
GFI Group Inc.
55 Water Street, 28th Floor
New York, NY 10041
Tel: (212) 968 2964
Mob: (646) 717 4379
patricia.gutierrez@gfigroup.com
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