New York, March 23, 2010 – GFI Group (NASDAQ: “GFIG”) announced today that Hyman Beck and Company , one of the world’s most diversified alternative investment managers, has licensed FENICS Professional™ for the pricing and risk management of its FX options business. The agreement includes FENICS Pricing, Analysis, and Structuring.
James Lubin, Principal and COO of Hyman Beck said: “We are very pleased to have chosen FENICS Professional as an enhancement to our existing risk management systems. I was greatly impressed by the flexibility of FENICS reporting and the benefit it will deliver to the current risk control processes utilized in our FX options portfolio. GFI FENICSSM is a brand that has been industry-recognized for many years and the ease of deployment allowed us to be up and running quickly.”
Suzanne Poulin, Head of GFI FENICS Sales for the Americas commented: “GFI has been successful in adding new clients in the investment management sector and is very happy to welcome Hyman Beck and Co. FENICS Professional encompasses all of the tools needed to manage an FX options business efficiently.”
GFI FENICS has been providing leading FX derivatives software since 1987. Its products are licensed to over 350 client firms worldwide – financial institutions and corporations – with thousands of users benefiting from its solutions.
About GFI Group Inc. www.GFIgroup.com
GFI Group Inc. (NASDAQ: “GFIG”) 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.
Fenics Software Limited is a wholly owned subsidiary of GFI Group Inc.
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, Dublin, Tel Aviv, Calgary, Englewood (NJ) and Sugar Land (TX). GFI Group Inc. 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 SM, GFInet®, CreditMatch®, GFI ForexMatch®, EnergyMatch®, FENICS®, Starsupply®, Amerex®, and Trayport®.
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; 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.