Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

CFTC Delays GFI’s Proposal to Create Derivatives Exchange

U.S. regulators delayed GFI Group Inc.’s request to create a derivatives exchange, calling the proposal “materially incomplete.”

The U.S. Commodity Futures Trading Commission said New York-based GFI, which arranges trades between banks, must revise its application for GFI Futures Exchange LLC to be considered for approval, according to a July 26 letter posted on the regulator’s website.

“Based on our current conversations with the CFTC, we are confident that our exchange will be registered at or around the beginning of October, which is consistent with our desired launch date,” Patricia Gutierrez, a GFI Group spokeswoman, said today in an e-mailed statement.

Firms in the $633 trillion over-the-counter derivatives market are adjusting to regulations under the 2010 Dodd-Frank Act. GFI Group has also asked the CFTC for approval to build a new type of venue created by the law, known as a swap-execution facility. Bloomberg LP, the parent of Bloomberg News, last week became the first organization to win CFTC approval for an SEF, and other firms that have applied to create one include MarketAxess Holdings Inc.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.