The group said the desk will broker US and European centrally-cleared coal swaps for domestic clients using a single screen.
The US desk, working closely with its existing coal desk in London, will offer US clients the possibility to trade US and European centrally-cleared coal swaps using GFI’s Trayport-powered hybrid trading technology.
According to the GFI, the desk will be staffed by three brokers: Geoffrey Puzzi, Larry LaCosta and Nicholas Stefans, who bring more than 35 years of combined experience in the commodities sector, 12 of them in the coal markets.
Puzzi started his career at CBOT and NYMEX and worked for MF Global before joining GFI.
Larry has more than 30 years institutional brokering experience and, before joining GFI Group, he owned and operated LGL Energy Market Services, brokering coal and renewable energy credits.
Nicholas Stefans started his career at GFI Group’s London office where he joined the European coal desk.
GFI Group managing director and head of commodities and energy brokerage North America Richard Giles said that GFI is excited to respond to its clients’ demand by adding this new desk to its commodities offering worldwide.
"We are the first to provide US coal traders with one single point for the trading for European and domestic cleared swaps. Our clients will have the ability to trade using Trayport’s technology, which integrates GFI’s voice and electronic capabilities," Giles said.
Trayport is a provider of software to the global commodity trading community. It develops, deploys and supports quality, resilient software for trading in any asset class worldwide in cleared or OTC markets.
