Brokers to enhance GFI leading electronic trading screen for commodities
New York, November 3, 2020 – GFI Group Inc. (NYSE: “GFIG”) today announced the establishment of a new Flat Price Henry Hub Natural Gas desk. Based in New York, the new desk is led by a team of three brokers: Greg Chaves, Chris McHugh and Eugene Marquardt, who have a combined 50 plus years of experience in the commodities markets.
The new desk will work closely with GFI Group’s electronic trading platform for commodities, EnergyMatch®, in line with the firm’s hybrid business model. The new team of brokers will add value to the platform with their experience while enhancing liquidity for its customers.
G. Chaves, C. McHugh and E. Marquardt had worked previously together at BNP Paribas where they started the unleaded gas futures trading group. Former members of the New York Mercantile Exchange (NYMEX), Messrs. Chaves, McHugh and Marquardt brokered energy commodities for BNP Paribas for over 10 years.
Richard Giles, GFI Group Managing Director and Head of Commodities and Energy Brokerage North America said: “We are very happy to have such an experienced team on board” and added, “they will provide further value to our customers through our EnergyMatch® hybrid trading platform.”
EnergyMatch® is the next generation electronic OTC energy marketplace combining the liquidity pools of multiple brokerage firms, electronic trading participants along with multiple clearing options in an open access web based platform. It brings 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 in OTC markets, manage risks associated with price volatility and diversify assets.
About GFI Group Inc. www.GFIgroup.com
GFI Group Inc. (NYSE: “GFIG”) is a leading provider of wholesale brokerage, clearing services, 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 fixed income, financial, equity and commodity instruments.
Headquartered in New York, GFI was founded in 1987 and employs more than 1,900 people with additional offices in London, Paris, Hong Kong, Seoul, Tokyo, Singapore, Sydney, Cape Town, Santiago, Dubai, Dublin, Tel Aviv, Calgary, Los Angeles, Englewood (NJ) and Sugar Land (TX). GFI Group Inc. provides services and products to over 2,400 institutional clients, including leading investment and commercial banks, corporations, insurance companies and hedge funds. Its brands include GFISM, GFInet®, CreditMatch®, GFI ForexMatch®, EnergyMatch®, FENICS®, Starsupply®, Amerex®, Trayport® and Kyte®.
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; uncertainties relating to litigation and the Company’s ability to assess and integrate acquisition prospects. 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.