GFI Group Inc., a leading provider of wholesale brokerage, electronic execution and trading support products for global financial markets, today announced that it has filed an application with the Commodity Futures Trading Commission ("CFTC") to become a multi-asset Swap Execution Facility ("SEF") under the CFTC's recently announced SEF rules issued pursuant to the Dodd-Frank Act.
GFI Group operates marketplaces for trading swaps in a range of financial, fixed income, equity and commodity asset classes. GFI's services allow counterparties to execute trades through a wide selection of electronic and other trading methods, including central limit order books, matching and Request for MatchSM, join-the-trade, request-for-quote (RFQ) and hybrid voice/electronic trade execution.
"This is an important day in the history of our company and for the swaps markets," said Colin Heffron, Chief Executive Officer of GFI Group, "For more than 25 years, GFI has provided market participants around the world with safe, liquid and transparent venues for trading swaps and other financial and commodity products. GFI's long standing commitment to technology investment and innovation enables us to be one of the first to file for designation with the CFTC as a 'swap execution facility'. GFI looks forward to continuing to serve market participants in swaps and other products in the emerging regulatory landscape with deep and transparent liquidity, leading electronic trade execution, attentive customer service and unbiased market connectivity."