Adding to Group’s broad electronic trading of energy products
New York, October 31, 2011 – GFI Group Inc. (NYSE: “GFIG”) announced today that it has successfully launched a number of Northeast Gas Basis products on EnergyMatch®, GFI’s leading electronic trading platform for energy and commodities in North America and executed a number of trades for clients on the system.
GFI Group Inc. (NYSE: “GFIG”) announced today that it has successfully launched and traded a number of Northeast Gas Basis products on EnergyMatch® , GFI’s leading electronic trading platform for energy and commodities in North America.
The new product offering caters not only to gas basis traders but to Northeast power traders enabling them to trade Northeast gas basis markets alongside EnergyMatch’s competitive electronic power markets on one screen.
Richard Giles, GFI Managing Director Energy and Commodities North America, said: “we are pleased to offer our clients, especially the northeast traders, another means of execution. Our hybrid mix of experienced professionals and leading edge technology combined with a choice of clearing venue will enhance and simplify the trading experience for our customers “.
EnergyMatch is a web-based electronic marketplace offering clients the ability to trade thousands of unique swap products ranging from physically cleared west power swaps to financial gas basis. Energymatch® integrates liquidity from desks at both GFI and its subsidiary Amerex, as well as dedicated screen market makers to offer one liquidity pool displaying firm and tradable prices with the ability to clear at any venue the end user chooses.
Energymatch® currently serves the following markets: East Power, Zonal Power, ERCOT Power, Physically Cleared West Power, Natural Gas Options and now Gas Basis.
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, Nyon 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®.
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.