Leading inter-dealer broker takes stake in ACM Shipping
London – November 29 2007 – GFI Group, Inc (Nasdaq: GFIG) has taken a 9.25% stake in ACM Shipping, a London-based ship broker.
Julian Swain, head of London brokerage at GFI said, “This builds on GFI’s successful joint venture with ACM Shipping in wet freight derivatives. GFI sees a strong future for freight, it complements well GFI’s existing energy, commodities and dry freight business and we are delighted to have had this opportunity to invest in a leading ship broker”.
The transaction closed on November 23rd. The cost was not disclosed.
The ACM/GFI joint venture was created in 2002.
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, Tokyo, Singapore, Sydney, Seoul, 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®, EnergyMatch®, FENICS® and Amerex®.
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GFI Group Inc.
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