LONDON, Dec. 22, 2016 /PRNewswire/ -- GFI Group, Inc. ("GFI" or
"the Company"), a subsidiary of BGC Partners, Inc. (NASDAQ: BGCP) ("BGC Partners" or "BGC") operating as an intermediary in the
global OTC and listed markets, today announced that an affiliated entity has entered into an agreement to acquire Micromega
Securities Proprietary Limited ("Micromega Securities").
Micromega Securities operates in the South African fixed income, rates and foreign exchange markets, via its three
subsidiaries: TTSA Securities (PTY) Ltd, SA International & Capital Market Brokers (PTY) Ltd and Micromega Africa Money
Brokers (PTY) Ltd. GFI and Micromega Securities have operated a joint venture since 2013. Micromega Securities is currently a
wholly owned subsidiary of Micromega Holdings (PTY) Ltd (JSE: MMG), a public company listed on the Johannesburg Stock
Exchange.
"We recognize the opportunity to increase GFI's footprint in the South African and the wider African marketplace by formally
bringing Micromega Securities and its talented team into GFI," said Colin Heffron, CEO
of GFI Group.
Details of the transaction were not disclosed, and completion of the transaction is subject to legal and regulatory approvals
and certain closing conditions.
About Micromega Securities Proprietary Limited
Founded in 1991, Micromega Securities Proprietary Limited offers interdealer brokerage services in fixed income, rates and
foreign exchange products via its three operating subsidiaries: TTSA Securities (PTY) Ltd, SA International & Capital Market
Brokers (PTY) Ltd and Micromega Africa Money Brokers (PTY) Ltd. The group operates from its office in Johannesburg. TTSA Securities and SA International & Capital Market Brokers are regulated in
South Africa by the Johannesburg Stock Exchange. SA International & Capital Market Brokers
and Micromega Africa Money Brokers are approved by the South African Reserve Bank for FX trading.
About GFI Group, Inc.
Founded in 1987 and headquartered in New York, GFI is owned by, and operates as a
division of BGC. GFI is a leading intermediary in the global OTC and listed markets offering an array of sophisticated trading
technologies and products to a broad range of financial market participants. More than 2,500 institutional clients benefit from
GFI's know-how and experience in operating electronic and hybrid markets for cash and derivative products across multiple asset
classes, including fixed income, interest rates, foreign exchange, equities, energy and commodities.
About BGC Partners, Inc.
BGC Partners is a leading global brokerage company servicing the financial and real estate markets. BGC owns GFI Group Inc., a
leading intermediary and provider of trading technologies and support services to the global OTC and listed markets. The
Company's Financial Services offerings include fixed income securities, interest rate swaps, foreign exchange, equities, equity
derivatives, credit derivatives, commodities, futures, and structured products. BGC provides a wide range of services, including
trade execution, broker-dealer services, clearing, trade compression, post trade, information, and other services to a broad
range of financial and non-financial institutions. Through brands including FENICS, BGC Trader, Capitalab, and BGC Market Data,
BGC offers financial technology solutions, market data, and analytics related to numerous financial instruments and markets.
Real Estate Services are offered through brands including Newmark Grubb Knight Frank,
Newmark Cornish & Carey, ARA, Computerized Facility Integration, Landauer Valuation &
Advisory, and Excess Space. Under these names, the Company provides a wide range of commercial real estate services, including
leasing and corporate advisory, investment sales and financial services, consulting, project and development management, and
property and facilities management.
BGC's customers include many of the world's largest banks, broker-dealers, investment banks, trading firms, hedge funds,
governments, corporations, property owners, real estate developers, and investment firms. BGC's common stock trades on the NASDAQ
Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due
June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC
Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information,
please visit http://www.bgcpartners.com. You can also
follow the Company at https://twitter.com/bgcpartners and/or https://www.linkedin.com/company/bgc-partners.
BGC, BGC Trader, GFI, FENICS, FENICS.COM, Capitalab, Swaptioniser, Newmark, Grubb & Ellis, ARA, Computerized Facility
Integration, Landauer, Landauer Valuation & Advisory, and Excess Space, Excess Space Retail Services, Inc., and Grubb are
trademarks/service marks, and/or registered trademarks/service marks and/or service marks of BGC Partners, Inc. and/or its
affiliates. Knight Frank is a service mark of Knight Frank (Nominees) Limited.
Discussion of Forward-Looking Statements about BGC Partners
Statements in this document regarding BGC's businesses that are not historical facts are "forward-looking statements" that
involve risks and uncertainties. Except as required by law, BGC undertakes no obligation to release any revisions to any
forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ
from those contained in the forward-looking statements, see BGC's Securities and Exchange Commission filings, including, but not
limited to, the risk factors set forth in its public filings, including the most recent Form 10-K and any updates to such risk
factors contained in subsequent Forms 10-Q or Forms 8-K.
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SOURCE GFI Group, Inc.