GFI Group Inc. (NYSE: "GFIG") GFI Group Inc., a leading provider of wholesale brokerage, electronic execution and trading support products for global financial markets, and Crédit Agricole CIB, the Corporate and Investment Banking arm of the Crédit Agricole Group, the world’s sixth-largest bank by total assets, announced the launch of their Live Price Streaming initiative catering to the Asian Forwards market.
Using GFI ForexMatch® Application Programming Interface (API), which allows direct electronic access to executable prices between Crédit Agricole CIB’s internal trading infrastructure and GFI’s clients, banks now interact directly with Crédit Agricole CIB through GFI’s electronic trading platform.
Scott Tatham, GFI Group Managing Director and Head of Asia said: “We are very pleased to have Crédit Agricole CIB, one of the world’s top banks, join us in providing liquidity to the Asian forwards markets. With this initiative, which combines our electronic trading technology and the expertise of our voice brokers, we are able to provide our clients with execution in a single venue.”
“GFI ForexMatch gives Crédit Agricole CIB an additional access to supply and source liquidity from the electronic space which is where the market is heading. We would like to be the first to embrace this new technology,” said Thomas Johansen, Managing Director and Global Head of Emerging Markets Forex Trading, Crédit Agricole CIB.
Supporting the streamlining of price discovery, banks can also now opt for a spreadsheet-based trading approach in order to access real-time liquidity. The multi-faceted platform utilizes Microsoft Excel’s real-time data components to allow information to be populated via a spreadsheet.
Dr. Keith Nicolle, Head E-Commerce, GFI Group Asia Pacific commented: "Through GFI ForexMatch® we are able to provide our clients with the latest technology in electronic trading and connectivity, while also responding to the requirements and challenges of the new regulatory environment. Our latest initiative, that successfully commenced trading last week utilising our two-way FIX API, underlines our commitment to offer our clients choice in their methods of execution, while adapting to their changing trading requirements with a range of innovative solutions through a common platform and programming interface.”
Providing trading transparency has been driven home by regulatory reforms relating to over-the-counter derivatives.