GFI Group, a provider of brokerage, clearing, and trading services has announced the opening of a Philippines office in Manila. The Manila staff will be headed by Derrick Aquino and adds to GFI’s growing list of local Asian offices which includes Japan, Korea, China, Hong Kong and Singapore. The new office will focus on brokering of Philippine Government and corporate fixed income products in the domestic market.
The South East Asian office adds to GFI’s growing presence in the region, as it boosted the list of its non-deliverable forwards (NDF) last year to include trading in the currencies of Malaysia, Taiwan, Phillipines, Thailand, Indonesia, China, India, and Korea.
GFI GROUP OPENS NEW OFFICE IN MANILA, PHILIPPINES
GFI (HK) Securities granted license to operate in Fixed Income Markets
New York, February 26, 2013 – GFI Group Inc. (NYSE: “GFIG”) announced today the opening of an office in Manila, the Republic of the Philippines. The new office will focus on brokering of Philippine Government and corporate fixed income products in the domestic market.
The GFI Manila office will be headed by Derrick Aquino. Mr. Aquino, who has been working in the financial markets both locally and internationally for more than a decade, has been with GFI since 2005. He has worked as a fixed income trader both in Manila and in Hong Kong in major financial institutions. At GFI, he has expanded the firm’s Asian High Yield Sovereign business and is currently the Managing Director for Philippine Fixed Income.
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“We are very pleased to announce our new office in Manila and the start of our brokerage operations in the Philippines headed by Derrick Aquino” said Scott Tatham, GFI Managing Director and Head of Asia. “Derrick’s experience and know-how will contribute greatly to the growth of our business in the local market”. Tatham also said “As opportunities arise, we will increase our product offering”
Derrick Aquino, head of the new office added: “The Philippines is an area of great potential for us and a natural step in our growth strategy in Asia. Our presence will allow us to offer our expertise and services to one of the fastest growing markets in the region. I am very bullish on the Philippines. I believe our experience in international markets will offer utmost value to the development and expansion of the Philippine financial markets”.
The new office commences operations with a staff of 10 people. The Philippines joins GFI Group’s network of offices in Asia which also that includes Japan, Korea, China, Hong Kong and Singapore.
About GFI Group Inc.
GFI Group Inc. (NYSE: “GFIG”) is a leading provider of wholesale brokerage services, clearing services, electronic execution and trading support products for global financial markets. GFI Group Inc. provides brokerage services, market data, trading platform and analytics software products to institutional clients in markets for a range of fixed income, financial, equity and commodity instruments.
Headquartered in New York, GFI was founded in 1987 and employs more than 2,100 people with additional offices in London, Paris, Nyon, Hong Kong, Seoul, Tokyo, Singapore, Sydney, Cape Town, Santiago, Bogota, Buenos Aires, Lima, Dubai, Dublin, Tel Aviv, Los Angeles and Sugar Land (TX). GFI Group Inc. provides services and products to over 2,600 institutional clients,
including leading investment and commercial banks, corporations, insurance companies and hedge funds. Its brands include GFISM, GFInet®, CreditMatch®, GFI ForexMatch®, EnergyMatch®, FENICS®, Starsupply®, Amerex®, Trayport® and Kyte®.