(PRWEB) September 07, 2011
GFI Group Inc.(NYSE: ?GFIG?) a leading provider of wholesale brokerage, clearing services, electronic execution and trading support products for global financial markets announced today it has conducted the first electronic matching of US Dollar (USD) Interest Rate Spread Options.
This new offering follows the successful launch of Euro Interest Rate Spread Options matching during the first quarter of the year which, to date, has traded in excess of ?10 billion notional amount.
Matt Woodhams, GFI Group Head of Ecommerce stated: ?We decided to launch matching of USD interest rate spread options after the success of our matching service for Euro spread options, which has traded in excess of ?10 billion notional amount since its introduction?.
Woodhams added: ?Our brokers have played an important role in making these matching sessions a success. They have worked closely with their clients offering them their expertise alongside our latest trading technology. Our new product has been very well accepted by our clients as it provides them with an additional seamless and efficient trading option?.
GFI Group is a leader at offering innovative electronic trading solutions that include auctions, matching and hybrid eTrading, on a variety of different asset classes that offer customers a greater choice in their method of execution and enhanced liquidity. Matching is offered globally by GFI on a multitude of products ranging from USD interest rate spread options to Japan single stock options.
Matching is a process run on various GFI electronic trading platforms which allows traders to anonymously contribute and trade at pre-defined levels on specific contracts during periodic sessions. Sessions are carried out during set times in the day and have short focused durations, typically ranging between 3 to 5 minutes. GFI?s proprietary matching technology helps create concentrated and deep liquidity pools that facilitate large volume trades to be transacted at pre-defined levels.
GFI conducts Matching processes for multiple products on its electronic trading platforms: CreditMatch