GFI Group, a provider of wholesale brokerage, clearing services, electronic execution and trading support products for global financial markets has conducted the first fully electronic Mexican Peso Interest Rate Swap “IRS” TIIE (Interbank Equilibrium Interest Rate).
Matching is a process run on various GFI electronic trading platforms which 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.
In addition to Mexican TIIE IRS, GFI has conducted matching processes for US$ Interest Rate Options “IRO”.
Ron Levi, COO GFI Group said: “We are the first broker to execute matching of Mexican TIIE IRS. This new offering underlines our commitment to offer our clients choice in their method of execution and a range of solutions to fit their needs” and added, “This new roll out follows our successful launch earlier this year of 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.
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