Mike Prokop to participate in the newly expanded CFTC Committee
New York – 12 May 2009. GFI Group Inc.(Nasdaq: GFIG) announces today that Mike Prokop, Senior Vice President of Amerex Brokers LLC, a subsidiary of GFI Group Inc. will serve on the newly expanded Commodity Futures Trading Commission’s (“CFTC”) Energy and Environmental Markets Advisory Committee (“EEMAC”). Mike Prokop is a highly experienced professional in the U.S. energy markets and brings to the EEMAC a deep understanding of how the OTC energy and emissions markets function.
“The mission, mandate and membership of the EEMAC are being expanded to ensure that we are ready for what could be a $2 trillion market in the future,” CFTC Commissioner Bart Chilton said in an announcement released by the CFTC on April 17th. “We will have impressive experts who will help us as we try and figure out what needs to be done on day one after legislation becomes law.”
Mike Prokop of Amerex adds, “I look forward to helping the CFTC consider, design and conduct thoughtful and effective regulation vital to the U.S. energy and emissions markets.” Mr. Prokop is the only executive from an OTC energy brokerage firm serving on the Committee.
Amerex has been active in the emissions markets since 2001 and currently brokers all the U.S. Federal and regional emissions markets including NOx, SO2, HGB NOx, ERCs, DERCs and RECs. Amerex’s parent company, GFI Group, operates EnergyMatch® an electronic energy trading platform in North America, bringing together buyers and sellers of derivative and physical commodities contracts. It enables financial institutions, hedge funds, energy companies, transporters and other natural market participants to trade OTC markets, manage risks associated with price, volatility and diversify assets.
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 1,700 people with additional offices in London, Paris, 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 banks, corporations, insurance companies and hedge funds. Its brands include GFI™, 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 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.
Vice President – Public Relations
GFI Group Inc.
55 Water Street, 28th Floor
New York, NY 10041
Tel: (212) 968 2964
Mob: (646) 717 4379