GFI opens Hong Kong desk; expands Credit Portal

GFI opens Hong Kong desk; expands Credit Portal

GFI Group, a provider of software, brokerage and market data services, is opening a credit derivative brokerage desk in Hong Kong that will focus on Non-Japanese Asian credit default swaps.

The new desk will serve Asian-based clients and is in addition to GFI's existing credit derivative desks in Sydney, London and New York.

GFI Europe, says the move expands and improves Asian credit derivative coverage for the brokerage as well for GFI's recently launched Credit Portal. The Portal offers offers subscribers online access to GFI's credit derivative databases of actual credit default swap rates covering 1700 reference entities dating back to April 1997.

GFI adds that it plans to extend its credit portal later this year with the launch of a pricing and portfolio management tool, Fenics Credit which will enable subscribers to value and revalue credit default swaps, generate default probabilities and perform sensitivity and relative value analyses.

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