GFI sets OTC electricity sights on North America

GFI, the New York-based inter-dealer broker, last month launched what is expected to be its first step in an effort to create an online over-the-counter electricity derivatives market in North America, via a launch in Alberta, Canada. The launch is in line with GFI’s strategy of offering clients the choice of electronic and voice brokerage – a model that has already proved successful for the firm in the European energy markets. And the move to offer online electricity trading is being viewed