GFI Group acquires trading technology firm, Trayport
First Published Friday, 1 February 2008 from Automated Trader : Automated Trading News
February 1st 2008 Trayport Limited has announced that it has been acquired by GFI Group Inc., a leading inter-dealer broker specialising in over-the-counter derivatives products and related securities. Trayport offers a comprehensive range of proven products including three electronic trading platforms, Exchange Trading System, Broker Trading System and Trading Gateway, which are tailored to the needs of the specific user communities.
Michael Gooch, Chairman and Chief Executive Officer of GFI: “The scope of Trayport’s product offerings is extensive and their quality is of the highest calibre, which we can attest to as one of their customers."
Trayport will continue to provide software and services to these markets in the same way as a standalone business within the GFI Group. The entire Trayport team, including its founder Edmund Hor, is continuing in the business across its three offices in London, Jersey City and Hong Kong.
Edmund Hor, Managing Director of Trayport, stated, “GFI is one of Trayport’s oldest and biggest customers and understands the critical importance of technology leadership. Teaming up with GFI gives Trayport the opportunity to draw upon GFI's innovative market knowledge to provide more and better transaction technology to global markets.”
Michael Gooch, Chairman and Chief Executive Officer of GFI, commented, “The scope of Trayport’s product offerings is extensive and their quality is of the highest calibre, which we can attest to as one of their customers. Through the acquisition of Trayport, GFI will be fully integrated into the desktop, middle office and back office of our European energy customers. Additionally, we will be able to streamline the introduction of new product offerings in all our regions.”
Mr. Gooch continued, “We are committed to providing the rest of Trayport’s impressive customer roster, which includes major inter dealer brokers, exchanges, as well as trading counterparties with the same level of technologically advanced products on which they have come to rely.
Through its GlobalVision products, Trayport has established a prominent position in the European over the counter (OTC) energy markets including electric power, natural gas, coal, emissions and freight. Trayport’s flexible and robust GlobalVision platforms can accommodate electronic trading, information sharing and straight-through-processing capabilities in commodity and financial instruments, in particular energy derivatives. Trayport’s GlobalVision software is installed on more than 10,000 trading screens worldwide, dealing in over 2,000 different trading instruments and supporting over 50 market places across 15 countries.
- Clearstream offers direct access to Bulgaria and Romania
Clearstream, the international central securities depository (ICSD) within Deutsche Börse Group, has opened two new direct links with Bulgaria and Romania helping foreign investors to access these markets.
In Bulgaria, government securities will be settled free of payment via the Bulgarian National Bank....continued - Trayport's GlobalVision to clear through CME ClearPort
Dan Smith, Head of Broker Trading Systems, Trayport: "This is another important step in providing our clients with straight-through OTC clearing capabilities." Trayport Limited has announced its GlobalVision Broker Trading system will clear over the counter (OTC) products including oil, carbon emissions, freight transactions, power and natural gas through CME® ClearPort®....continued
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