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GFI beefs up Asia derivatives operation

Singapore: Commodities and derivatives broker, GFI Group, has expanded its
coal derivatives coverage to the Asia-Pacific region, complementing its
growing physical coal business in the region, by beefing up its London and
Singapore operations. Precious metals broker Katherine Saw has moved from
Sydney to strengthen the London coal desk which is working closely with the
new Singapore coal desk headed up by GFI veteran Fergus Duncan. Both
appointments will contribute to the development of GFI's Newcastle FOB coal
derivatives in Asia and Europe. GFI said there was great demand for the
derivatives in Europe and in due course it expected its Far East clients to
tap into the liquidity that should develop as a result. GFI is headquartered in New York and employs more than 1,300 staff in the US, Europe and Asia.  [16/10/06]

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