GFI Group
GFI Group is a wholesale financial brokerage and trading-technology business serving institutional markets across fixed income, foreign exchange, equities, commodities and related derivatives.
Last updated August 31, 2026
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Overview
GFI Group is a financial-services business whose roots are in institutional wholesale brokerage. Founded in 1987 by Michael Gooch, the company developed a market-intermediation model focused on instruments that are often traded over the counter rather than through a single centralized exchange. Its brokerage activities have covered credit, fixed-income, foreign-exchange, equity and commodity products, including both cash instruments and derivatives. The business has historically served institutional and wholesale customers rather than retail investors. GFI became known for combining human brokerage with electronic execution. Depending on the liquidity, complexity and trading conventions of a market, its brokers could arrange transactions by telephone, through electronic systems or through a hybrid of the two. This approach was intended to improve access to counterparties and liquidity in products where relationships, specialist market knowledge and negotiation remained important. GFI complemented execution with market-data, analytics, research, auction and post-trade services. The company expanded beyond pure brokerage through acquisitions. In 2001 it acquired FENICS Software, an analytical-software business associated with foreign-exchange markets. It later entered energy and commodities brokerage through the acquisition of North American operations of Starsupply Petroleum in 2005 and Amerex Energy in 2006. In 2008, GFI acquired Trayport, a software provider used in over-the-counter energy and related markets. These additions broadened the group into trading technology, market infrastructure and decision-support tools alongside its brokerage franchises. GFI operated internationally from major financial centres including New York, London, Paris, Tokyo, Hong Kong and Singapore, as well as smaller offices and operating locations in Europe, the Middle East, Asia and the Americas. Its activities supported institutional trading in a broad range of financial and commodity markets, with services that included trade matching, execution, market information, clearing connections, straight-through processing and trade or portfolio management support. The company was formerly listed in the United States. It moved its listing from Nasdaq to the New York Stock Exchange in 2010 under the symbol GFIG. In February 2015, BGC Partners acquired a majority stake, and GFI subsequently delisted from the NYSE in March 2015. Since that transaction, GFI has operated within BGC rather than as an independent public company. The GFI name therefore continues primarily as an operating and specialist-market brand within a larger financial-services group.
History
GFI Group was established in 1987 by Michael Gooch as a specialist financial intermediary. Its early identity was built around wholesale brokerage in markets where transactions were negotiated between institutional counterparties. The company was an early broker of over-the-counter options on United States government bonds, an area requiring specialist knowledge and access to professional market participants. Over time, GFI developed a broader model that combined voice brokerage with electronic execution. The company did not treat technology as a replacement for every form of human intermediation. Instead, it used different execution methods according to the characteristics of individual products and markets. Brokers could match buyers and sellers directly, while electronic systems and other venues handled orders where automation was suitable. This hybrid approach was especially relevant to less standardized instruments, derivatives and wholesale markets with uneven liquidity. GFI expanded its capabilities through acquisitions. In 2001, it acquired FENICS Software, adding foreign-exchange analytical tools and software to its brokerage activities. In 2005, the company purchased the North American operations of Starsupply Petroleum, extending its presence in oil products and associated derivatives and options. In 2006, it acquired the North American brokerage operations of Amerex Energy, broadening its energy franchise into electric power, natural gas and emissions products. In 2008, GFI acquired Trayport, a trading-technology provider serving over-the-counter energy products and related markets. These transactions helped establish GFI as more than a traditional broker by adding analytics, software and workflow capabilities. The group also pursued initiatives outside its core brokerage structure. In 1999, it established a venture intended to provide an online spot market for international telecommunications minutes. The company's principal business, however, remained institutional brokerage and associated technology. Its coverage expanded across credit, financial, equity and commodity instruments, including cash bonds, corporate fixed income, equities and derivatives. Supporting services included market data, research, decision-support tools, real-time auctions, straight-through processing, clearing links and trade and portfolio management functions. GFI built an international operating network centred on New York and extending to London, Paris, Tokyo, Hong Kong and Singapore. It also maintained operations in a number of smaller financial centres, including locations identified in company materials or reference sources in Dublin, Nyon, Bogotá and Tel Aviv. The international footprint enabled the group to serve customers and counterparties across time zones and product areas. The company became a publicly traded business in the United States and moved its listing from Nasdaq to the New York Stock Exchange in 2010. Its public-company period ended after BGC Partners acquired a 56 percent stake in February 2015. GFI delisted from the NYSE in March of that year and thereafter operated as a division of BGC. A later shareholder lawsuit concerning statements allegedly affecting the timing of share sales was dismissed by a federal judge in 2018. GFI has continued as a specialist brokerage and market-technology business within the BGC organization.
- 2018
Shareholder lawsuit dismissed
[1]A federal judge dismisses litigation brought by former shareholders concerning alleged effects of a chief-executive statement on share sales.
- 2015
BGC majority acquisition and delisting
[1]BGC Partners acquires a majority stake, and GFI subsequently leaves the NYSE and becomes a BGC division.
- 2010
NYSE listing
[1]GFI Group moves its stock listing from Nasdaq to the New York Stock Exchange.
- 2008
Trayport acquisition
[1]GFI acquires Trayport, a trading-software provider focused on over-the-counter energy and related markets.
- 2006
Amerex Energy brokerage operations acquired
[1]The company acquires Amerex Energy's North American brokerage operations in power, natural gas and emissions markets.
- 2005
Starsupply Petroleum operations acquired
[1]GFI acquires the North American operations of Starsupply Petroleum, expanding into oil products and related derivatives.
- 2001
FENICS Software acquisition
[1]GFI acquires FENICS Software, strengthening its foreign-exchange analytics and software capabilities.
- 1999
Telecommunications-minutes market venture
[1]The group establishes a venture intended to create an online spot market for international telecommunications minutes.
- 1987
GFI Group is founded
[1]Michael Gooch establishes GFI Group as a specialist wholesale financial brokerage.
Products and positioning
A specialist institutional intermediary combining relationship-based brokerage, electronic execution and trading-technology services for complex wholesale and over-the-counter markets.
Financial brokerage · 1987
Institutional brokerage
GFI's core service matches institutional wholesale customers with counterparties or routes orders to exchanges and other trading venues. Coverage has included credit, fixed income, foreign exchange, equities and commodities, with both cash and derivative instruments. The service is delivered through a combination of voice brokerage, electronic execution and hybrid workflows tailored to market structure and product liquidity.
Foreign-exchange analytics and software · 2001
FENICS
FENICS is the foreign-exchange analytics and software business acquired by GFI in 2001. It broadened the group's offering beyond transaction intermediation by providing analytical and decision-support capabilities for professional market participants.
Trading software · 2008
Trayport
Trayport provides trading technology associated with over-the-counter energy products and related markets. Its inclusion in GFI's portfolio supported the group's strategy of combining brokerage with electronic market infrastructure and workflow tools.
Financial information services
Market data and decision-support services
GFI complements execution with market data, analytics, research and other decision-support services. These capabilities are designed to help institutional customers evaluate markets, identify liquidity and manage transactions across complex financial and commodity instruments.
Post-trade financial services
Post-trade services
The group's supporting infrastructure has included straight-through processing, clearing links and trade and portfolio management services. These functions extend the relationship beyond execution and help institutional customers process and monitor transactions.
Marketing campaigns
- 2019Stand Up For Heroes
United States
GFI was a founding funder of the 13th Stand Up For Heroes benefit, supporting an event connected with the Bob Woodruff Foundation and assistance for service members and veterans.
Outcome. The available reference material confirms GFI's funding support but does not provide a specific financial outcome.
- Bob Woodruff Foundation support
United States
GFI supported the Bob Woodruff Foundation and its ReMIND.org campaign, which addressed public understanding of the needs of service members returning from war.
Brand decisions
2015
Majority acquisition by BGC PartnersM&ABackground
BGC Partners acquired control of GFI Group after the company had operated as an independent listed brokerage and technology group.
Action taken
BGC Partners acquired a 56 percent stake in GFI, after which GFI was delisted and operated as a BGC division.
Aftermath
GFI ceased to be an independently listed company while continuing its specialist brokerage and technology operations within BGC.
2010
Move from Nasdaq to the NYSEStrategyBackground
GFI was already a publicly traded company and chose to transfer its listing to the New York Stock Exchange.
Action taken
The company moved its listing to the NYSE under ticker GFIG.
Aftermath
GFI remained publicly traded until its subsequent acquisition by BGC Partners and delisting in 2015.
Recent events
GFI announces China joint venture with Guizhou Big Data Capital[3]
Reported:
GFI announced that it had taken a majority stake in newly established GFIGS Commercial Consulting (Shanghai) Co., Ltd., a joint venture with Guizhou Big Data Capital, to offer OTC derivatives brokerage services in China.
Sources3 sources
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