GFI Opens Seoul Office

2007-03-08 09:46 1096

Leading Inter-Dealer Broker Expands in Asia

LONDON, March 8 /Xinhua-PRNewswire/ -- GFI Group (Nasdaq: GFIG) has opened an office in Seoul. It will operate as GFI Korea Money Brokerage Ltd, broking Korean interest rate swaps and Korean deliverable forwards and non-deliverable forwards.

The office will be headed by Elisha Choi, a senior GFI broker. Mrs Choi moves to Korea from GFI's Singapore office, where she has been in charge of GFI's Korean desks for the past two years. Mrs Choi will report to Jurgen Breuer, GFI's senior managing director, Asia, and will manage GFI's 18 broking, technology and other support staff in Seoul.

"GFI is continually looking to apply its brokering and technology expertise to new opportunities in Asia and we have been focusing on Korea for some time," said Mr Breuer. "GFI is proud to have been granted the brokering license as part of the financial market reforms in Korea and we have moved extremely fast to get all our Korean operations onshore."

Mr Breuer added that GFI was planning to add further products in Korea such as credit derivatives and equity options.

About GFI Group Inc.

GFI Group Inc. ( ) is a leading inter-dealer broker specializing in over-the-counter derivatives products and related securities. GFI Group Inc. provides brokerage services, market data and analytics software products to institutional clients in markets for a range of credit, financial, equity and commodity instruments.

Headquartered in New York, GFI was founded in 1987 and employs more than 1,400 people with additional offices in London, Paris, Hong Kong, Tokyo, Singapore, Sydney, Englewood (NJ), and Sugar Land (TX). GFI provides services and products to over 2,000 institutional clients, including leading investment and commercial banks, corporations, insurance companies and hedge funds.

Its brands include GFI(TM), GFInet(R), CreditMatch(R), Starsupply(R), Amerex(R) and FENICS(R).

Forward-looking statement

Certain matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "might," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: economic, political and market factors affecting trading volumes; securities prices or demand for the Company's brokerage services; competition from current and new competitors; the Company's ability to attract and retain key personnel, including highly-qualified brokerage personnel; the Company's ability to identify and develop new products and markets; changes in laws and regulations governing the Company's business and operations or permissible activities; the Company's ability to manage its international operations; financial difficulties experienced by the Company's customers or key participants in the markets in which the Company focuses its brokerage services; the Company's ability to keep up with technological changes; and uncertainties relating to litigation. Further information about factors that could affect the Company's financial and other results is included in the Company's filings with the Securities and Exchange Commission. The Company does not undertake to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Source: GFI Group Limited