New Unit Trades Ethanol, NGLs and Other Energy & Agricultural Products
NEW YORK, NY, Apr 12, 2010 (MARKETWIRE via COMTEX) –GFI Group Inc. (NASDAQ: GFIG) today announced the establishment of its Latium Capital division. Latium Capital trades as principal in ethanol, natural gas liquids and other energy and agricultural markets.
The Latium Capital team is based in New York. It is presently comprised of four traders: Robert Esposito, Robert Rozzi, Evan Kornhauser and Joseph Verdi. Ron Deal is also expected to join the team in May. The new team has a combined 75 years of experience in the commodities markets.
Robert Esposito, head of Latium Capital said: “We are very excited to be part of the GFI family and its dynamic business environment.”
Michael Cosgrove, GFI Group Managing Director and Head of Commodities and Energy Brokerage North America said: “With Latium Capital we have established a unique service for new and existing customers that is distinctly different from our traditional agency brokerage businesses.”
Latium Capital is a division of GFI Securities LLC.
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.
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(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 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.
SOURCE: GFI Group Inc.