GFI Group — CreditMatch
CreditMatch supports a wide range of credit derivatives instruments including indexes, index tranches, index options and exotics. It also supports cash instruments including corporate and financial bonds, inflation bonds, convertible bonds and loans. In addition, some non-credit asset classes are supported such as interest rate swaps, interest rate options, basis swaps and cross-currency basis swaps.
CreditMatch offers client connectivity via the
proprietary graphic user interface, a FIX API and a Java API. All connections
are encrypted and security is tested and certified both internally and via
Pre- and post-trade analytics
CreditMatch offers a full historical database of
market data, trade reports, and links to Bloomberg for extensive bond
analytics. Apart from the market data generated directly on CreditMatch, users
can trigger a large number of Bloomberg analytics from the platform.
CreditMatch is deployed globally and operates
markets in North America, South America, Europe, Africa, the Middle East and
East Asia. It is primarily a dealer-to-dealer marketplace.
New regulation and more stringent capital
requirements are already reshaping market structure. GFI expects the space
between dealer-to-dealer and dealer-to-client to reduce, the development of
agency businesses and more electronic trading leading to more connectivity and
the formation of a more open and interchangeable network of marketplaces.
The company believes firms traditionally branded as
buy-side will increasingly act as market makers while some of the traditional
market makers will look at agency models as an alternative plan.