New York (PRWEB) March 1, 2011
GFI Group (NYSE: “GFIG”) a leading provider of wholesale brokerage, clearing services, electronic execution and trading support products for global financial markets announced today the launch of RatesMatchSM, the Group’s new electronic trading system designed for hybrid execution of cleared interest rate swaps. RatesMatch is provided by Christopher Street Capital (CSC), a division of GFI Brokers LLC.
In line with GFI’s hybrid model, RatesMatch allows clients the choice to trade fully electronically on the platform, work through their voice broker in the traditional way or utilize a combination of the two.
RatesMatch enables price discovery in an efficient, transparent, anonymous hybrid trading environment on a proven electronic platform. It combines the flexibility of over-the-counter (“OTC”) trading with the risk mitigation of clearing and improved risk management via straight-through processing (STP).
Michael Gooch, Chairman and CEO of GFI Group said: “The interest rates swaps market has been of interest to us for a long time. We have taken our time to enter it as we wanted to be fully prepared to conform to the new regulatory and market requirements. We now have everything in place from technology to experienced brokers to offer a first rate service”, and added, “We believe that our proven ability to provide high levels of liquidity and cutting edge technology to the swaps markets will add a new dimension to the largest derivative market in the world.”
GFI is amongst the first to offer a hybrid trading platform that allows multiple parties to trade with each other in either a bilateral or cleared environment with all the added benefits of state of the art technology.
The new electronic screen will trade plain vanilla spot swaps from 2 to 30 years in maturity, on both “all-in” interest rate swaps and spread over US Treasuries as well as spreads and butterflies for various periods. GFI offers its clients the choice to clear via an array of clearing houses.
RatesMatch is available via a standard web browser, through Excel links or through a FIX API (Application Programming Interface) that allows clients to connect their front middle and back office systems directly to the trading platform.
Christopher Street Capital CSC http://www.cs-cap.com
Christopher Street Capital (CSC) is a trading brand established in 2003 to offer brokerage services which are executed through various GFI subsidiaries*. CSC covers Equity, Fixed Income, Interest Rate Swaps and Foreign Exchange products and serves institutional clients including asset managers, hedge funds, mutual funds, insurance companies, proprietary trading desks and broker dealers. The CSC team comprises of over 70 professionals based in New York, London, Dublin, Tokyo and Singapore and offers a full range of skills covering sales, trading, research and structuring.
About GFI Group Inc. http://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, Bogot