GFI Group

From Wikipedia, the free encyclopedia
Jump to: navigation, search
GFI Group, Inc
Type Public
Traded as NYSEGFIG
Industry Banking, Financial Services
Founded 1987
Founders Michael Gooch, Executive Chairman
Headquarters 55 Water Street,
New York, New York, U.S.
Area served Worldwide
Key people Colin Heffron, Chief Executive Officer
Products Fixed Income, Financials, Equity, Commodity, Trading Systems, Data & Analytics, Clearing
Revenue US$ 924.59 million (2012)
Operating income US$ 10.5 million (2012)
Net income US$ 8.9 million (2012)
Total assets US$ 1.180 billion (2012)
Total equity US$ 425.16 million (2012)
Employees 2,062 (2012)
Website www.gfigroup.com

GFI Group Inc. (GFI) through its subsidiaries provides brokerage services, trade execution, market data, trading platforms and other software products. Clients are institutional customers in markets for a range of fixed income, financial, equity and Commodity instruments. GFI is headquartered in New York, USA and operates from New York, London, Paris, Tokyo, Hong Kong, Singapore and 15 other smaller financial centres such as Dublin, Nyon, Bogota and Tel Aviv.

GFI operates a hybrid brokerage approach, combining a range of telephonic and electronic trade execution services, depending on the nature of the products and the needs of the individual markets. The Company complements its hybrid brokerage capabilities with decision support services, such as value-added data and analytics products, research, real-time auctions and post-transaction services, such as straight through processing ("STP"), clearing (finance) links and trade and portfolio management services. The Company is listed on NYSE under GFIG.

History[edit]

GFI Group Inc. was founded by Michael Gooch in 1987. GFI was the first broker to offer Over-the-counter (finance) (OTC) US government bond options to the industry. In 2001, GFI acquired the leading FX analytical software provider FENICS Software Ltd. In 2005, GFI acquired the North American operations of Starsupply Petroleum LLC, a leading broker of oil products and related derivative and option contracts. The firm acquired the North American brokerage operations of Amerex Energy in 2006,[1] they are a wholesale broker of electric power, natural gas and emissions products. In 2008, GFI acquired Trayport Ltd, a leading provider of trading software for OTC energy products and other markets.[2]

On September 28, 1999, The GFI group established a new venture to offer an online spot market for international telecommunications minutes, according to Michael Gooch, GFI President and CEO. .[3]

In 2010 GFI Group moved its listing from Nasdaq to the NYSE.[4]

Operations[edit]

GFI Group provides execution services for institutional wholesale customers by either matching their trading needs with counterparties having reciprocal interests or directing their orders to an exchange or other trading venue. Its operations focus on a wide variety of assets: credit, financial, equity and commodity instruments, including both cash and derivative products. In recent years, it has developed cash equity and cash bond brokerage business that complement its brokerage of OTC derivative products, as well as expanding its services for cash instruments, such as corporate fixed income and equities products. In essence, GFI’s primary role as a wholesale broker is to enhance trading liquidity.

Philanthropy[edit]

GFI Group is committed to helping the Bob Woodruff Foundation[5] in its work educating the public about the needs of service members returning from war, especially those who have sustained traumatic brain injuries and combat stress. GFI has supported the Bob Woodruff Foundation and its campaign ReMIND.org[6] for the past four years.

Competition[edit]

See also[edit]

References[edit]

  1. ^ Market Watch GFI buying Amerex energy brokerage business for $86 mln cash - retrieved 2013-01-01
  2. ^ Finextra GFI buys Trayport - retrieved 2013-01-01
  3. ^ "GFI group Announces New Venture to Create Spot Market for International Telecommunications Minutes". 
  4. ^ NYSE GFI transfers to NYSE
  5. ^ PR Newswire GFI Group to Be Presenting Sponsor of Star-Studded Stand Up for Heroes Event, in Association With the Bob Woodruff Foundation and New York Comedy Festival - retrieved 2013-01-01
  6. ^ ReMIND.org

External links[edit]