Group’s leading screen EnergyMatch® Europe expands execution choice
New York, August 9, 2011 – GFI Group Inc. (NYSE: “GFIG”) announced today that it has conducted the first matching* of dry freight forward freight agreements “FFAs” trades on its premier electronic platform EnergyMatch® Europe.
EnergyMatch Europe is GFI Group’s leading electronic trading platform for energy and commodities and the market leader for the trading of Dry Freight FFAs. The screen allows for trading in co-mingled markets (co-mingling is the ability to clear trades with different clearing houses) and provides customers with the choice of CCP (Central Counter Party Clearing House) for clearing.
Along with Dry Freight FFAs, UK and European power and gas, coal, fuel oil, emissions and wet freight FFAs can be traded electronically on EnergyMatch Europe. Iron ore will be added to the offering imminently.
Dorian Benson, Head of GFI Dry Freight Group said: “We are continuing to seek fresh and innovative tools for the dry FFA markets to enable customers alternative and efficient trading opportunities and execution. The introduction of co-mingling, JTT and Matching builds upon the great success that we have enjoyed on our screen release over the past few years and is indicative of GFI’s hybrid broking model. We believe that this should allow us to remain at the forefront of the electronic market within freight”.
GFI Dry Freight offers its clients alternatives in their method of execution: voice brokered, hybrid (voice & electronic) and fully electronic via matching and Join-the-Trade “JTT”**.
*Matching is a process run on various GFI electronic trading platforms which allows traders to anonymously contribute and trade at mid-market levels on specific contracts during periodic sessions. Sessions are carried out during set times in the day and have short durations of a few minutes. GFI Matching sessions help create concentrated and deep liquidity pools that allow large volume trades to be transacted at mid-market levels.
**JTT is a workup functionality that allows market participants to anonymously trade large volumes for a pre-defined period of time, at the prevailing market price without the risk of distorting the market. GFI introduced Join-the-Trade for the UK Gas market and for Dry Freight in November 2010.
About GFI Group Inc.
GFI Group Inc. (NYSE: “GFIG”) is a leading provider of wholesale brokerage services, 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 2,000 people with additional offices in London, Paris, Hong Kong, Seoul, Tokyo, Singapore, Sydney, Cape Town, Santiago, Bogota, Dubai, Dublin, Tel Aviv, Calgary, Los Angeles, Englewood (NJ) and Sugar Land (TX). GFI Group Inc. provides services and products to over 2,600 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®.
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