GFI Group says its Mexican affiliate, GFI Grupo Mexico, is fully compliant with all pertinent Mexican regulations and may now officially commence operations following the granting of a license to operate by CNBV (Comisión Nacional Bancaria y de Valores).
GFI says it has worked closely with the Mexican authorities to ensure its Mexican affiliate is fully compliant with all the applicable regulations including those recently issued regarding fiscal and regulatory requirements. The license authorises GFI Grupo Mexico to broker derivatives, FX and fixed income in the local market.
Nick Brown, GFI Group managing director and head of financial product brokerage the Americas, says: “I am very pleased with the success of this initiative led by David Lance Alvarez, head of Latin America business development. We have worked hard with the Mexican authorities to make certain we fulfill all the requirements to open our office in Mexico.”
Prior to the granting of the license, GFI serviced its Mexican clients from New York. The firm already has a presence in Peru, Argentina, Chile and Colombia.