GFI Group (NYSE: “GFIG”) a leading provider of wholesale brokerage, clearing services, electronic execution and trading support products for global financial markets announced January 19 it has conducted the first fully electronic Japanese Single Stock Options Matching. This process included stocks of many of Japan’s largest corporations: Nintendo, Nissan, NTT DOCOMO, Canon and Sharp.
This new offering follows the successful launch of JPY IRO Matching introduced in June of 2010 and Japan Equity Derivatives Index Matching in September 2010.
Matching is a process run on various GFI electronic trading platforms which allows traders to anonymously contribute and trade at pre-defined levels on specific contracts during periodic sessions. Sessions are carried out during set times in the day and have short focused durations, approximately 5 to 10 minutes. GFI Matching sessions help create concentrated and deep liquidity pools that facilitate large volume trades to be transacted at pre-defined levels.
Dr. Keith Nicolle, GFI Group’s Head of ECommerce, Asia Pacific said: “We are the first broker to execute electronic matching of Japan Single Stock Options. This new offering underlines our commitment to offer our clients choice in their method of execution and a range of innovative solutions to fit their changing trading requirements”. And added, “This new-roll out follows the success of the electronic products we launched last year. We are providing our clients an additional service in asset classes where these matching services were not previously available. GFI matching sessions have been a liquidity positive product for both us and, we believe, for the market”.
GFI’s focus is on launching innovative products in areas of auctions, matching and hybrid eTrading, on a variety of different asset classes that offer customers a greater choice in their method of execution as well as providing additional pools of liquidity. These new products add to the growing electronic matching offering GFI has built over the last year: CDS matching globally, Mexican Peso Interest Rate Swap “IRS” TIIE* and USD IRO.
GFI conducts Matching processes for multiple products on all of its electronic trading platforms: CreditMatch®, GFI ForexMatch® and EnergyMatch®.
CreditMatch® 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. CreditMatch® displays fixed income derivative and bond prices together on the same screen.
GFI ForexMatch® 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 ForexMatch® enhances price discovery and increases efficiency by enabling full electronic trade execution and processing of FX instruments.
EnergyMatch® 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. EnergyMatch® brings together buyers and sellers of derivative and physical commodities contracts