New York, May 10, 2011 ? GFI Group Inc. (NYSE: “GFIG”) today announced the launch of its Short Term Interest Rate Futures and Options desk*. The new desk will execute a variety of contracts including Eurodollar Futures and Options, US Treasury Futures and Options, 30 Day Fed Funds and the execution of UK and European short and long end derivatives.

The new desk, with operations in Chicago and New York will be run by John Wagner and Simon Gittins. The group has a combined experience of over 50 years in brokering Eurodollar and Treasury futures and options.

The Chicago team will be led by John Wagner. John will be joined by Robert Smearman. The team will be located directly on the floor of the Chicago Mercantile Exchange. John has participated in Eurodollar markets for the past 25 years spending the majority as an independent pit broker (WGZ) covering a diverse client base. Prior to joining GFI, Robert Smearman worked for First Boston, Credit Suisse and NewEdge Group where he covered swap/swaption trading desks as well as several premier hedge funds. 

The New York operation is to be run by Simon Gittins. Simon joins GFI from Mako Financial Markets LLC, where he was running the New York Sales trading team executing equity, commodity and fixed income derivatives.

Richard Giles, Managing Director at GFI Group and Head of Energy and Commodities Brokerage in North America said:” We are very happy to have John, Simon and Bob join us in developing our listed fixed income business. We are confident their experience and knowledge of these markets will enable us to provide a unique and specialized service to our customers.”

John Wagner, head of the Chicago team stated: “We are excited to join GFI and to have such an excellent opportunity within this highly competitive space. We will provide our clients with floor sentiment, market trends and relative values,  key data sets that will be used with integrity in the process of efficient price discovery.” 

Simon Gittins, head of the New York team commented: “This is a unique opportunity for us. Joining GFI we allow us to provide real value added to our client base. Together with the Chicago team, we will offer our clients our experience, our insights and our ability to maximize opportunities when they arise”. 

The new desk will offer its clients a customized service that will include idea generation, short, medium, long-term strategy recommendations and technical analysis support.   

*The StiRs desk conducts business through GFI Securities LLC a subsidiary of GFI Group Inc.

About GFI Group Inc. www.GFIgroup.com

GFI Group Inc. (NYSE: “GFIG”) is a leading provider of wholesale brokerage, clearing services, electronic execution and trading support products for global financial markets. GFI Group Inc. provides brokerage services, market data, trading platform and analytics software products to institutional clients in markets for a range of fixed income, financial, equity and commodity instruments.

Headquartered in New York, GFI was founded in 1987 and employs more than 1,900 people with additional offices in London, Paris, Hong Kong, Seoul, Tokyo, Singapore, Sydney, Cape Town, Santiago, Bogot?, Dubai, Dublin, Tel Aviv, Calgary, Los Angeles, Englewood (NJ) and Sugar Land (TX). GFI Group Inc. provides services and products to over 2,400 institutional clients, including leading investment and commercial banks, corporations, insurance companies and hedge funds. Its brands include GFI^SM, GFInet?, CreditMatch?, GFI ForexMatch?, EnergyMatch?, FENICS?, Starsupply?, Amerex?, Trayport? and Kyte?.

Forward-looking statement

Certain matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words “anticipate,” “believe,” “estimate,” “may,” “might,” “intend,” “expect” and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of GFI Group Inc. (the “Company”) and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: economic, political and market factors affecting trading volumes; securities prices or demand for the Company’s brokerage services; competition from current and new competitors; the Company’s ability to attract and retain key personnel, including highly-qualified brokerage personnel; the Company’s ability to identify and develop new products and markets; changes in laws and regulations governing the Company’s business and operations or permissible activities; the Company’s ability to manage its international operations; financial difficulties experienced by the Company’s customers or key participants in the markets in which the Company focuses its brokerage services; the Company’s ability to keep up with technological changes; uncertainties relating to litigation and the Company’s ability to assess and integrate acquisition prospects. Further information about factors that could affect the Company’s financial and other results is included in the Company’s filings with the Securities and Exchange Commission. The Company does not undertake to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

For any queries or additional information please contact:

Patricia Gutierrez
Vice President – Public Relations
GFI Group Inc.
55 Water Street, 28th Floor
New York, NY 10041
Tel: (212) 968 2964
Mob: (646) 717 4379
patricia.gutierrez@gfigroup.com