GFI Expands LATAM Offerings with NDFs and Forwards

GFI Group Inc. a provider of wholesale brokerage, electronic execution and trading support products for global financial markets, announced today

GFI Group Inc. a provider of wholesale brokerage, electronic execution and trading support products for global financial markets, announced today that it has added API (Application Programming Interface) connectivity on GFI ForexMatch® – its electronic trading platform for FX derivatives – for the trading of a number of Latin American non-deliverable forwards “NDFs”. GFI’s API facilitates real-time price quotations, trade execution and confirmations. API connectivity allows customers to seamlessly access and contributes to liquidity on GFI ForexMatch®.

Six major Latin American NDFs and Forwards: Chilean peso/ USD, Colombian peso/ USD, Peruvian Sol/USD, Argentinian Peso/USD, Brazilian Real/ USD NDFs and Mexican Peso/USD forwards, as well as their respective FX Options, are now all actively traded on GFI ForexMatch® both on a Central Limit Order Book and RFQ basis.

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GFI intends to provide customers trading these currency pairs post- trade connectivity services via MarkitSERV who will provide connection to different Central Counterparty Clearing Houses and to Swap Data Repositories in line with the requirements outlined by the Dodd-Frank Act.

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Paul Millward, GFI ForexMatch® Product Manager at GFI Group, said: “We are expanding our business operations in Latin America boosted by the success of our hybrid trading platform for FX derivatives” and added, “We are providing our clients with the latest technology in connectivity, which will become even more critical once the swap execution facility (“SEF”) rules under the Dodd-Frank Act are implemented.  GFI intends to incorporate GFI ForexMatch® into its SEF.”

GFI Group has an important presence in the region with offices in Argentina, Chile, Colombia, Peru and Mexico.

GFI ForexMatch® is GFI’s innovative electronic trading system for FX derivatives. It supports GFI’s hybrid brokerage model, combining sophisticated electronic trading technology with voice brokerage services to deliver efficient deal execution. GFI ForexMatch® streamlines price discovery, allows online trading of FX instruments and facilitates the analysis of market trends with the latest tradeable prices.

GFI ForexMatch® enables trading on: •FX Options,•Latin American NDF (ARS, BRL, CLP, COP, PEN, UYU), •Cross Currency Basis Swaps, •Latin American Inflation Forwards, •Mexican Swaptions, •Regional Forwards and •Latin American Interest Rate Swaps.

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