GFI Group Inc. (NYSE: “GFIG”) is pleased to announce that GFI Group’s Mexican affiliate GFI Grupo Mexico, S.A. de C.V. is fully compliant with all pertinent Mexican regulations. The Group may now officially commence operations.
GFI Grupo Mexico S.A. de C.V. was granted by CNBV (Comisión Nacional Bancaria y de Valores) a license to operate in Mexico on September 4, 2012.
GFI Group has worked closely with the Mexican authorities to ensure its Mexican affiliate is fully compliant with all the applicable regulations including those recently issued regarding fiscal and regulatory requirements. The license authorizes GFI Grupo Mexico to broker derivatives, FX and fixed income in the local market.
Nick Brown, GFI Group Managing Director and Head of Financial Product Brokerage the Americas, said: “I am very pleased with the success of this initiative lead by David Lance Alvarez, Head of Latin America Business Development. We have worked hard with the Mexican authorities to make certain we fulfill all the requirements to open our office in Mexico”.
Mr. Brown added: “We had been servicing our Mexican clients from New York for over 10 years and it is a pleasure for us to be able to service them locally”.
The new office will operate GFI’s award winning* electronic trading platform ForexMatch® for FX derivatives.
GFI Group is present in other Latin American countries, including Peru, Argentina, Chile and Colombia, where it has helped increase market transparency, liquidity and efficiency.
*FX Week magazine named GFI Best electronic Broker 2010 in its annual e-FX awards, and Profit & Loss magazine named GFI ForexMatch® Best FX Options Trading Platform at its Digital Markets Awards in 2008, 2009, 2010 and 2011.