New York, April 19, 2012. – GFI Group Inc. (NYSE: "GFIG") announced today that it is the first broker to execute an electronically traded Iron Ore Swap which cleared at the Singapore Exchange “SGX” using STP (straight through processing). The trade was executed on GFI’s trading platform for energy and commodities - EnergyMatch® Europe. In addition to iron ore swaps, GFI also offers dry freight FFAs and Coal Swaps for clearing via STP into SGX.
Toby Joyce, GFI Group Head Broker of Iron Ore Swaps in Singapore stated: “We are very pleased to be the first to offer this service for iron ore swaps. This allows us to increase the speed and efficiency in the trade capture process and to reduce operational and settlement risk. We have worked hard with iron ore swaps clearers and Trayport to provide this enhanced service to our clients”.
Singapore Exchange (SGX) offers its clients Asia’s broadest span of equity index derivatives, uniquely centered on Asia’s three largest economies – China, India and Japan. In addition, it offers a fully integrated value chain from trading and clearing, to settlement and depository services, SGX is also Asia's pioneering central clearing house.
STP provides traders with greatly shortened processing cycles, faster trade capture, reduced settlement risk and mitigates manual trade input inefficiencies.
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 2,200 people with additional offices in London, Paris, Nyon, Hong Kong, Seoul, Tokyo, Singapore, Sydney, Cape Town, Santiago, Bogota, Dubai, Dublin, Tel Aviv, Calgary, Los Angeles 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 GFI(SM), GFInet®, CreditMatch®, GFI ForexMatch®, EnergyMatch®, FENICS®, Starsupply®, Amerex®, Trayport® and Kyte®.
Forward-looking statement
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.
For any queries or additional information please contact:
Patricia Gutierrez
Vice President - Public Relations
GFI Group Inc.
55 Water Street, 28th Floor
New York, NY 10041
Tel: (212) 968 2964
Mob: (646) 717 4379
patricia.gutierrez@gfigroup.com
