GFInet Launches Electronic Repo Trading; European Repo trading live over electronic trading platform.Business/Technology Editors NEW YORK--(BUSINESS WIRE)--Sept. 6, 2000 GFInet Inc., a creator of independent online markets, today announced that European Repos are being traded over its electronic platform, providing customers with the ability to trade electronically in a neutral and liquid market. Throughout its 15-year history, GFI GFI Ground Fault Interrupter GFI Go For It GFI Government-Furnished Information GFI Growing Families International GFI Goodness of Fit Indices GFI Government Financial Institutions (Philippines) GFI Gross Farm Income has been an innovator in the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. industry and created markets at the request of its customers to improve liquidity and increase transparency. "Adding European Repos to our trading platform is based on the surge in dealer-demand to trade Repos electronically," said Michael Gooch, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and Founder of GFInet. "With our extensive experience voice brokering complex OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). instruments, the move to allow our customers a faster more accurate way to trade Repos is a natural evolution for GFInet." Founded last year, more than 140 global, blue chip customers use GFInet's voice-assisted and electronic markets. GFInet, which currently offers trading capability for the credit, FX, equity, energy, telecom and derivatives markets, plans to eventually expand its markets to any tradeable financial, commodity or industrial product. GFInet's current Repo offerings include German and European GC, German Delivery Basket specials (10yr, 5yr, 2yr), and all German off the runs, and will soon include US Treasury and Emerging Market Repos. In addition to a user friendly display, advanced trading logic, and customizable execution options, GFInet's Repo trading platform is easily integrated with in-house deal capture systems for straight-thru-processing. "Our Repo platform is seamless, flexible and cost effective," said Colin Heffron, Senior Managing Director, GFInet. "Our customers have already traded several large blocks of Repos making optimal use of the interactive trading capability on both LCH LCH Launch LCH London Clearing House LCH Langerhans Cell Histiocytosis (medicine; immune system disorder) LCH Latch LCH Light Combat Helicopter LCH Lake Charles, LA, USA - Municipal (Airport Code) RepoClear and non-LCH settled trades. The growth in our Repo trading volumes that we've witnessed since we've launched acknowledges that GFInet is delivering the independent, efficient markets that our customers are asking for and provides the best European Repo trading available anywhere". GFInet is being utilized by the top banks and investment houses from around the world. In the coming months, GFInet will extend voice broker backed, electronic trading platforms to Credit Derivative Credit Derivative Privately held negotiable bilateral contracts that allow users to manage their exposure to credit risk. Credit derivatives are financial assets like forward contracts, swaps, and options for which the price is driven by the credit risk of economic agents (private , FX Option, Energy and other markets as well as launch related data and analytics services. GFInet's initiative to trade Repos follows the company's recent funding announcement and receipt of $27 million in private equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. . GFInet will use the funds to roll out its trading technology platform to customers worldwide and to fund further investments in technology, marketing and staffing. GFInet intends to use a portion of the funds to acquire new companies and technologies in the near future. About GFInet Inc. GFInet creates independent online markets, integrating proven voice brokering with execution and information tools thereby optimal efficiency and liquidity. Applicable to any financial, commodity and industrial product, GFInet currently offers trading capability for the credit, FX, equity, energy, telecom and derivatives markets. Voice-assisted and online trading Online Trading Making trades via the Internet. Notes: The use of online trading increased dramatically in the mid to late 1990's with the advent of high-speed computers and Internet connections. Stocks, bonds, options, futures, and currencies can all be traded online. execution is integrated with real time data, market-specific commentary, and analytics. Market experience and liquidity are provided by GFI Group, a leading global, interdealer broker. http://www.gfinet.com About GFI Group GFI is among the world's leading inter-dealer broker Inter-dealer Broker 1. A brokerage firm operating in the bond or OTC derivatives market that acts as an intermediary between major dealers to facilitate inter-dealer trades. 2. specializing in wholesale market transactions including derivatives, commodities, currencies, and foreign and domestic securities traded among the world's leading financial institutions and energy concerns. Founded in 1987, the firm employs more than 300 people worldwide. GFI is recognized as the primary force in providing innovative technological solutions to solve the broking Bro´king a. 1. Of or pertaining to a broker or brokers, or to brokerage. Redeem from broking pawn the blemished crown. - Shak. industry's need for marketplace transparency. Headquartered in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , the GFI Group services customers worldwide from offices in London, Sydney, and Tokyo. |
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