GFI Group (NYSE: "GFIG") announced today the commencement of operations at the offices of its new subsidiary in Nyon, Switzerland.
The new office will focus on brokering emerging market products including FX, FRAs, basis swaps, interest rate swaps and government bonds in CE3 currencies (Czech Koruna, Polish Zloty and Hungarian Forint), South African Rand and Turkish Lira. The office will also offer a service in listed products.
Julian Swain, Managing Director, Head of GFI London said: "Our presence in Switzerland through our Nyon office is part of our strategy of expanding our services and products into emerging markets globally. We believe this is an area of great potential for us and a natural step in our growth strategy". He added, "Our brokers will be working with the latest proprietary technology, offering a hybrid brokerage approach which will allow our customers a range of choice in their method of execution".
GFI has a significant footprint in the currencies of other emerging markets such as Russia and Latin America. The Switzerland office will further complement GFI's participation in the Emerging Market sector at a global level.