GFI Acquires Premium Broker in Argentina

Leading inter-dealer broker GFI Group has acquired a 49% stake in Argentina's Premium Securities, with the option to purchase the remaining 51% in blocks over the next few years. Premium, which is headquartered in Buenos Aires, is an inter-dealer broker of fixed income, foreign exchange and derivatives products. Ron Levi, GFI's C, said 'Premium provides GFI with a partner in an important Latin American market with expansion opportunities in soft commodities and developing derivative markets.' Alan Bright, a spokesperson with GFI, told CFW that, despite already having Latin American clients, it was the company's first acquisition in the region.