Interdealer broken: CME and GFI deal signals plight of broker model

News Analysis: Interdealer brokers are already cutting costs but a much deeper restructuring of their business models is required

Thursday 31 July 2014 at 17:12

There are no shortage of people in the wholesale markets who'll tell you that interdealer brokers are no longer fit for purpose. But GFI Group is looking to get into shape.

The US-based broker yesterday agreed to sell its FX and energy software businesses to US exchange operator CME Group in a $580 million deal.