GFI Group Inc. (Nasdaq: GFIG) has bought a 49% stake in Premium Securities, S.A. (âPremiumâ), an inter-dealer broker of fixed income, foreign exchange and derivative products in Argentina.
Ron Levi, GFIâs chief operating officer said âPremium provides GFI with a partner in an important Latin American market with expansion opportunities in soft commodities and developing derivative markets. Also, we are pleased that Alejandro Bueno, Premiumâs president, is continuing to lead the company. Mr Bueno has established Argentina offices for other inter-dealer brokers and that experience will be a great asset to GFI in growing our emerging market operations.â
GFI has the option to purchase the remaining 51% of Premium at specified dates over the next few years.
Premium has 15 employees and is based in Buenos Aires.