May 26, 2016 7:12 PM ET

Capital Markets

Company Overview of GFI Group Inc.

Company Overview

GFI Group Inc., through its subsidiaries, provides brokerage, trading technologies, and support services for over-the-counter and listed markets in the United States, the United Kingdom, and internationally. The company provides brokerage services in various fixed income derivatives, bond instruments, and other related fixed income products; and non-derivative credit instruments, such as investment grade and high yield corporate bonds, Eurobonds, European government bonds, bank capital preferred shares, asset-backed bonds, and floating rate notes. It also offers brokerage services in financial instruments, including foreign exchange options, exotic options, U.S. Dollar and non-U.S. Dollar in...

55 Water Street

New York, NY 10041

United States

Founded in 1987

1,984 Employees

Phone:

212-968-4100

Key Executives for GFI Group Inc.

Chief Executive Officer
Age: 52
Founder and Executive Chairman
Age: 56
Chief Financial Officer
Age: 64
Chief Operating Officer
Age: 53
Head of Institutional Equities
Compensation as of Fiscal Year 2015.

GFI Group Inc. Key Developments

GFI Group Inc. Announces Successful Completion of its Consent Solicitation with Respect to its 8.375% Senior Notes Due 2018

GFI Group Inc. announced that it has received the consents necessary to effect an amendment to the Indenture, dated as of July 19, 2011, between GFI and The Bank of New York Mellon Trust Company, N.A. (as supplemented or amended, the Indenture) that governs GFI's 8.375% Senior Notes due 2018 (CUSIP No. 361652AA8). The Notes have been fully and unconditionally guaranteed by BGC Partners Inc. The Amendment modifies the Indenture's reporting covenant to provide that, so long as BGC (or another publicly reporting company controlling GFI) guarantees the Notes, the reports that BGC (or such other publicly reporting company controlling GFI) files with the Securities and Exchange Commission (the SEC) will be furnished to the Trustee in lieu of GFI's SEC reports. GFI received the consents of holders of a majority of the aggregate principal amount of the Notes on or prior to 5:00 p.m., New York City time, on January 12, 2016 (such time and date, the Expiration Time). As a result, GFI, BGC and the Trustee have entered into the Second Supplemental Indenture, dated as of January 12, 2016, which effects the Amendment (the Supplemental Indenture). The Supplemental Indenture was executed on January 12, 2016, and the Amendment will become operative upon payment of the consent consideration described in the following paragraph. After the Supplemental Indenture has become operative, GFI will cease filing annual, quarterly, and other reports with the SEC. GFI will make or cause to be made to consenting holders of Notes an aggregate cash payment equal to $1,800,000, representing the aggregate Consent Fee. The Consent Fee is an amount, per $1,000 principal amount of Notes for which a holder has delivered (prior to the Expiration Time) and not revoked (prior to the execution of the Supplemental Indenture) its consent, equal to the product of $7.50 multiplied by a fraction, the numerator of which is the aggregate principal amount of Notes outstanding at the Expiration Time and the denominator of which is the aggregate principal amount of Notes for which holders have delivered and not revoked consents (the Consent Fee). The amount of the Consent Fee will be approximately $8.10 per $1,000 principal amount. The Consent Fee is expected to be paid on January 15, 2016.

GFI Group Inc. Announces the Resignation of Messrs. Michael A. Gooch, Colin Heffron as Directors

BGC Partners Inc. announced that it has completed its merger with GFI Group Inc. As a condition to closing, Messrs. Michael A. Gooch, Colin Heffron have resigned as directors of the board of directors of GFI. Mr. Gooch retains the titles of Vice Chairman of BGC Partners, L.P. and Chairman of the GFI Division, while Mr. Heffron continues to be the CEO of the GFI Division.

GFI Group Inc. Announces Executive Resignations

On December 22, 2015, BGC Partners Inc. (BGC), Jersey Partners Inc. (JPI), New JP Inc. (New JPI), Michael A. Gooch and Colin Heffron, directors of GFI Group Inc. and JPI stockholders, and certain subsidiaries of JPI and BGC entered into a merger agreement providing for the acquisition of JPI by BGC as provided for by the tender offer agreement by and among BGC, GFI and BGC Partners, L.P. (BGCLP), dated as of February 19, 2015. Shortly following the completion of the JPI Merger, a subsidiary of GFI will merge with and into GFI pursuant to a short-form merger under Delaware law, with GFI continuing as the surviving entity. The Merger Agreement contains customary terms, covenants and conditions, including the requirement that BGC register the shares of Class A Common Stock issuable pursuant to the Merger Agreement for resale promptly after closing. As a condition to closing, Messrs. Gooch and Heffron will resign as directors of the board of directors of GFI.

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