GFI Group (NYSE: âGFIGâ), a leading provider of wholesale brokerage, clearing services, electronic execution and trading support products for global financial markets announced today it has conducted the first electronic matching of a Colombian Peso Government Bond from its newly opened Bogota office.
Matching sessions conducted by GFI in Colombia focus on matching counterparties for the local Government Treasury market denominated in Colombian Pesos.
Matching is a process run on various GFI electronic trading platforms that allows traders to anonymously contribute and trade at mid-market levels on specific contracts during periodic sessions. Sessions are carried out during set times in the day and have short durations, approximately 5 minutes. GFI Matching sessions create concentrated and deep liquidity pools that allow large volume trades to be transacted at mid-market levels.
Juan Pablo Amorocho, Head of GFI Securities Colombia said: âWe are the first broker to execute electronic matching of buyers and sellers for Colombian Government Treasury bonds. This is the first time GFI has used its advanced technology to facilitate trading of local government bonds in Latin Americaâ and added, â We are fully committed to providing trading solutions and enhancements for the markets we perceive have the need for more efficient execution. We are grateful to the Colombian authorities and the market for its positive reception to this new technology and look forward to providing solutions to these expanding markets.â
GFI Securities Colombia S.A. commenced operations in November 2010 and focuses on brokering Colombian sovereign fixed income, corporate fixed income and related derivatives products in the domestic market.
GFI conducts Matching processes for multiple products on all of its electronic trading platforms: CreditMatchÂ®, GFI ForexMatchÂ® and EnergyMatchÂ®.
CreditMatchÂ® is GFI's electronic trading platform for fixed income derivatives and bonds. It forms a key part of GFI's hybrid brokerage model, serving the market from its operations in New York, London, Sydney, Tokyo, Singapore and Hong Kong and working alongside GFI's brokers from each of these offices. CreditMatchÂ® displays fixed income derivative and bond prices together on the same screen.
GFI ForexMatchÂ® is GFI's electronic system for FX derivatives trading. It supports GFI's hybrid brokerage model, combining traditional voice brokerage services with sophisticated electronic trading technology. GFI ForexMatchÂ® enhances price discovery and increases efficiency by enabling full electronic trade execution and processing of FX instruments.
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. EnergyMatchÂ® brings together buyers and sellers of derivative and physical commodities contracts.