GFI Group Inc. (NYSE: âGFIGâ) today announced the establishment of a new Flat Price Henry Hub Natural Gas desk. Based in New York, the new desk is led by a team of three brokers: Greg Chaves, Chris McHugh and Eugene Marquardt, who have a combined 50 plus years of experience in the commodities markets.
The new desk will work closely with GFI Groupâs electronic trading platform for commodities, EnergyMatchÂ®, in line with the firmâs hybrid business model. The new team of brokers will add value to the platform with their experience while enhancing liquidity for its customers.
G. Chaves, C. McHugh and E. Marquardt had worked previously together at BNP Paribas where they started the unleaded gas futures trading group. Former members of the New York Mercantile Exchange (NYMEX), Messrs. Chaves, McHugh and Marquardt brokered energy commodities for BNP Paribas for over 10 years.
Richard Giles, GFI Group Managing Director and Head of Commodities and Energy Brokerage North America said: âWe are very happy to have such an experienced team on boardâ and added, âthey will provide further value to our customers through our EnergyMatchÂ® hybrid trading platform.â
EnergyMatchÂ® is the next generation electronic OTC energy marketplace combining the liquidity pools of multiple brokerage firms, electronic trading participants along with multiple clearing options in an open access web based platform. It brings together buyers and sellers of derivative and physical commodities contracts. It enables financial institutions, hedge funds, energy companies, transporters and other natural market participants to trade in OTC markets, manage risks associated with price volatility and diversify assets.