GFI Group

What GFI Group does

GFI Group is a wholesale intermediary and electronic trading platform provider in global OTC and listed cash and derivatives markets, founded in New York in 1987 and operating since 2015 as a majority-owned division of BGC Group Inc. (NASDAQ: BGC). The company serves approximately 2,600 institutional clients, including investment and commercial banks, corporations, insurance companies, and hedge funds, across more than 22 countries via roughly 24 offices and ~2,000 employees. Its business cuts across fixed income, credit derivatives, foreign exchange, interest rates, commodities (energy, metals, freight), and equities, with a distinctive footprint in emerging markets across Latin America, EMEA, and Asia Pacific.

GFI operates a hybrid brokerage model that pairs voice brokerage desks with a suite of proprietary electronic execution platforms, including CreditMatch (credit derivatives, CDS, bonds), ForexMatch (FX options CLOB), RatesMatch (interest rate swaps and US Treasuries), EnergyMatch and EnergyMatch Europe (OTC energy), GFI Direct (multi-dealer FX RFQ), IRS DeltaMatch (interest rate swap portfolio risk management), GFI IROMatch, GFInet (data and execution), FENICS (FX price discovery), and the Amerex energy brokerage franchise. The company is a CFTC-registered Swap Execution Facility (GFI Swaps Exchange) and, as of January 29, 2025, an SEC-registered Security-Based SEF, operating under MiFID II as an OTF/MTF in the EU and as a FINRA/NFA member firm in the US. Integrations into ICE Link, MarkitWire, CME/LCH/ICE clearing, FIX protocol, and Bloomberg Entity Exchange support its regulated execution and post-trade workflow. The company's revenue model is transaction-fee based, earning commissions on wholesale brokerage services across its asset class coverage.

Name

GFI Group

Legal name

GFI Group Inc.

Website

https://gfigroup.com

Company type

Private

Founded year

1987

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

GFI Group is a wholesale intermediary and electronic trading platform provider in global OTC and listed derivatives markets, serving 2,600+ institutional clients across 22+ countries through voice brokerage and proprietary platforms (CreditMatch, ForexMatch, RatesMatch, EnergyMatch). It operates as a majority-owned division of BGC Group Inc. (NASDAQ: BGC).

Ownership category

akta.pro rank

Product category

Wholesale Brokerage Services

NAICS

Securities and Commodity Contracts Intermediation and Brokerage (5231), Commodity Contracts Intermediation (523160), Securities and Commodity Exchanges (5232)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Commodity Contracts Brokers & Dealers (6221), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Cleared OTC Derivatives Trading Facilities (SEF/OTF-like platforms) (FSAFABAL)

akta.pro secondary industries

Regulatory Reporting Hubs & Aggregators (Multi-Regime/Multi-Asset) (FSAFAJAF), Client Reporting Gateways & Connectivity Providers (Submission/Message Translation) (FSAFAJAG)

Keywords

• Wholesale brokerage
• OTC derivatives
• Interdealer brokerage
• Electronic trading platforms
• Swap execution facility

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices25 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Wholesale Brokerage Commissions: GFI generates revenue through commissions from providing competitive wholesale market brokerage services in global OTC and exchange listed cash and derivatives markets across credit, FX, interest rates, commodities, and equities.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

GFI Group operates as a wholesale intermediary in global OTC and exchange-listed cash and derivatives markets, providing voice brokerage services across credit, FX, interest rates, commodities, and equities. The company complements its brokerage with proprietary electronic trading platforms (CreditMatch, ForexMatch, RatesMatch, EnergyMatch, GFI Direct, IRS DeltaMatch) and operates CFTC-registered Swap Execution Facility (SEF) and SEC-registered Security-Based SEF (SBSEF) venues for regulated swap trading.

Product overview

GFI Group operates as a wholesale brokerage and electronic trading platform provider offering a comprehensive suite of products across fixed income, credit derivatives, foreign exchange, interest rates, commodities, and equities markets. The portfolio includes both proprietary electronic trading platforms (CreditMatch, ForexMatch, RatesMatch, EnergyMatch, EnergyMatch Europe, GFI Direct, IRS DeltaMatch, GFI IROMatch) and complementary services (GFInet, AuctionMatch, Riskequivalents, TERMNEGOTIATION). The company operates regulated execution facilities including GFI Swaps Exchange (SEF) for CFTC-regulated swaps and GFI Swaps Exchange (SBSEF) for SEC-regulated security-based swaps. GFI also maintains acquired brands FENICS for FX price discovery software and Amerex for OTC energy brokerage services.

Differentiator

Problem solved

Functional benefit

Brands

• FENICS: Leading currency derivative price discovery software platform with over 25 years of experience providing intuitive price discovery software to currency derivative markets.
• CreditMatch
• ForexMatch
• RatesMatch
• GFI Direct
• IROMatch
• IRS DeltaMatch
• MurabahaMatch
• EnergyMatch
• EnergyMatch Europe
• Amerex
• AuctionMatch
• Riskequivalents
• TERMNEGOTIATION
• GFInet

Products and services

• CreditMatch Electronic marketplace for credit derivatives, CDS and bond markets enabling real-time and historical market information access, multiple trading strategies, and direct or broker-assisted trade execution with periodic matching, continuous mid-point matching, auction and Join the Trade functionality.
• ForexMatch Award-winning central limit order book (CLOB) marketplace for FX derivatives offering multiple trading choices, ability to price up to 16 different option types, real-time volatility interpolation, and execution routing to regulated marketplaces.
• RatesMatch Leading electronic trading platform for specialist execution services across interest rate derivatives and US Treasury bond markets, providing integrated workflow from price discovery to trade capture with Straight-through Processing (STP).
• EnergyMatch Leading OTC energy marketplace combining liquidity of multiple brokerage firms and electronic trading participants with multiple clearing options for North American power, natural gas, crude oil, and refined products.
• EnergyMatch Europe Electronic energy trading platform built on Trayport technology combining GFI's deep pool of liquidity with leading technology for derivative and physical energy contracts.
• GFI Direct Aggregated view of multi-dealer liquidity for FX derivatives, web-delivered platform offering price discovery, trade request and bilateral trade execution through single interface with multi-bank RFQ capability.
• IRS DeltaMatch Interest rate swap matching platform leveraging SWITCH ENGINE and auction-based technology with RISKEQUIVALENTS analysis providing delta-neutral portfolio maintenance for dealers to mitigate unwanted risk along interest rate swap curves.
• FENICS Leading intuitive price discovery software for currency derivative markets with over 25 years of experience, providing professional traders with real-time market monitoring, bid/offer posting, instantaneous trade execution, and audit trails.
• GFInet Real-time data and execution services through online brokerage, providing professional traders with real-time market monitoring, bid/offer posting, instantaneous trade execution, and audit trails.
• MurabahaMatch Web-based trading platform for Islamic finance markets enabling Murabaha transactions for commodity trading compliant with Sharia principles.
• GFI Swaps Exchange (SEF) Multi-asset swap execution facility registered with CFTC under Dodd-Frank Act providing cross-asset trading across credit, FX, interest rate, and commodity derivatives.
• GFI Swaps Exchange (SBSEF) Multi-asset security-based swap execution facility registered with SEC providing trading for security-based swaps.
• Amerex Energy Brokerage Leading OTC energy brokerage acquired in 2006 offering services in electricity, natural gas, emission credits, renewable energy credits, and energy consulting.
• Voice Brokerage Services Wholesale market brokerage services across credit, FX, interest rates, commodities, and equities provided by experienced brokers for best execution in OTC and exchange-listed markets.
• GFI IROMatch Interest rate options marketplace displaying tradable quotes and traded prices with periodic matching and continuous midpoint matching functionality.

Named customers5 records

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

Feature9 records

Scale indicators5 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• StoneX Group: StoneX (formerly INTL FCStone) provides execution, clearing, and advisory services across commodities, FX, rates, and securities. Its institutional brokerage and electronic execution services compete with GFI in multiple asset classes, particularly FX and commodities.
• TP ICAP: TP ICAP is the world's largest interdealer broker following the merger of ICAP and Tullett Prebon, operating across rates, credit, FX, commodities, and equities. It is the closest direct competitor to GFI's core wholesale brokerage and electronic platforms across multiple asset classes.
• Marex: Marex is a global commodities-focused brokerage with growing capabilities in financial markets, including energy, metals, and agricultural products. Its energy and commodity brokerage business overlaps directly with GFI's Amerex/EnergyMatch franchise.
• Compagnie Financière Tradition: Compagnie Financière Tradition is a Swiss-based interdealer broker with operations in fixed income, FX, derivatives, and commodities across global markets. It is a long-standing direct competitor to GFI in wholesale brokerage and electronic venues.
• BGC Group: BGC Group (NASDAQ: BGC) is GFI's parent company and also operates a large interdealer brokerage business across rates, credit, FX, and commodities, with complementary electronic platforms. As GFI's owner and a competing broker, BGC is both a strategic backer and the most direct comparator.

Emerging players

• OTC Markets Group: OTC Markets operates regulated open and transparent marketplaces for trading over-the-counter securities, including in fixed income and equities. Its venue-based model overlaps with GFI's exchange-adjacent SEF/SBSEF offerings in OTC markets.
• Tradeweb Markets: Tradeweb operates electronic marketplaces for rates, credit, money markets, and equities. Its institutional and wholesale electronic trading venues overlap with GFI's RatesMatch, CreditMatch, and broader electronic execution services.
• MarketAxess: MarketAxess operates leading electronic trading platforms for fixed income, particularly credit. It competes with GFI's CreditMatch and broader credit franchise by enabling all-to-all electronic credit trading, representing the secular electronification pressure on GFI's voice brokerage.

Broad incumbents

• CME Group (brokerTec/EBS): CME Group acquired NEX Group (brokerTec and EBS) and now operates major electronic FX and fixed income trading venues. As an exchange incumbent, CME competes with GFI ForexMatch and energy platforms while providing clearing and execution infrastructure that GFI integrates with.

Others

• Trayport: Trayport (acquired by GFI in 2008 and now part of BGC) is a trading technology platform widely used across energy and commodities markets. While owned by GFI's parent, Trayport's technology also powers competing energy and commodities brokers, making it both an asset and an industry infrastructure peer.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

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Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries28 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments3 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about GFI Group