GFI may buy an exchange, says Gooch

Interdealer broker GFI may follow in the footsteps of Icap and acquire an exchange, says GFI Group chief executive

Michael Gooch
Michael Gooch

GFI Group may acquire an exchange in response to regulatory changes that will require a large portion of the derivatives markets to be executed on exchanges and electronic trading platforms.

Under an agreement reached by Group of 20 leaders in September 2009, all standardised derivatives should be traded on exchanges or electronic trading platforms – known as swap execution facilities (Sefs) under the US Dodd-Frank Act and organised trading facilities (OTFs) in Europe. However, non-standardised

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