GFI Delivers Market’s First Electronic Platform
LONDON, September 16 /PRNewswire-FirstCall/ — GFI Group Inc. (‘GFIG’ on NASDAQ) has launched BasisMatch(TM) – the first electronic trading platform for cross-currency basis swaps for the inter-dealer market. This extends GFI’s successful hybrid broking model combining electronic and broker-assisted trading.
BasisMatch covers the G10 currencies against three-month US Dollar LIBOR, with plans to extend to similar instruments such as inter basis swaps.
“GFI continues to invest heavily in service-enhancing technology and BasisMatch is the latest example of this,” said Paul Millward, GFI’s BasisMatch(TM) and ForexMatch(R) product manager. “Cross-currency basis swaps are ready for hybrid broking, bringing electronic trading and automation of post-trade processes. GFI believes that BasisMatch will be widely adopted – just as CreditMatch and ForexMatch have been.”
“The market requires efficient price dissemination and execution, transparency and integrity – and BasisMatch delivers,” said Robert Bou-Simon, GFI’s head of European interest rate derivatives. “BasisMatch is the result of extensive collaboration with our clients and GFI will continue to work with them to develop the platform further.”
BasisMatch has been developed by Trayport, a wholly-owned subsidiary of GFI Group, Inc.
About GFI Group Inc. http://www.GFIgroup.com
GFI Group Inc. (http://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 trading platform and analytics software 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, Tel Aviv, Dublin, Dubai, Hong Kong, Shanghai, Tokyo, Singapore, Sydney, Seoul, Cape Town, Calgary, Englewood (NJ), and Sugar Land (TX). GFI provides services and products to over 2,200 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).
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.
SOURCE GFI Group Inc