Daily Archives: December 22, 2016

GFI Group expands South African footprint with acquisition of Johannesburg-based interdealer broker Micromega Securities

LONDON, Dec. 22, 2016 /PRNewswire/ — GFI Group, Inc. (“GFI” or “the Company”), a subsidiary of BGC Partners, Inc. (NASDAQ: BGCP) (“BGC Partners” or “BGC”) operating as an intermediary in the global OTC and listed markets, today announced that an affiliated entity has entered into an agreement to acquire Micromega Securities Proprietary Limited (“Micromega Securities”).

Micromega Securities operates in the South African fixed income, rates  and foreign exchange markets, via its three subsidiaries: TTSA Securities (PTY) Ltd, SA International & Capital Market Brokers (PTY) Ltd and Micromega Africa Money Brokers (PTY) Ltd. GFI and Micromega Securities have operated a joint venture since 2013. Micromega Securities is currently a wholly owned subsidiary of Micromega Holdings (PTY) Ltd (JSE: MMG), a public company listed on the Johannesburg Stock Exchange.

GFI Group logo

GFI Group logo .

“We recognize the opportunity to increase GFI’s footprint in the South African and the wider African marketplace by formally bringing Micromega Securities and its talented team into GFI,” said Colin Heffron, CEO of GFI Group.

Details of the transaction were not disclosed, and completion of the transaction is subject to legal and regulatory approvals and certain closing conditions.

About Micromega Securities Proprietary Limited
Founded in 1991, Micromega Securities Proprietary Limited offers interdealer brokerage services in fixed income, rates and foreign exchange products via its three operating subsidiaries: TTSA Securities (PTY) Ltd, SA International & Capital Market Brokers (PTY) Ltd and Micromega Africa Money Brokers (PTY) Ltd. The group operates from its office in Johannesburg. TTSA Securities and SA International & Capital Market Brokers are regulated in South Africa by the Johannesburg Stock Exchange. SA International & Capital Market Brokers and Micromega Africa Money Brokers are approved by the South African Reserve Bank for FX trading.

About GFI Group, Inc.
Founded in 1987 and headquartered in New York, GFI is owned by, and operates as a division of BGC. GFI is a leading intermediary in the global OTC and listed markets offering an array of sophisticated trading technologies and products to a broad range of financial market participants. More than 2,500 institutional clients benefit from GFI’s know-how and experience in operating electronic and hybrid markets for cash and derivative products across multiple asset classes, including fixed income, interest rates, foreign exchange, equities, energy and commodities.

About BGC Partners, Inc.
BGC Partners is a leading global brokerage company servicing the financial and real estate markets. BGC owns GFI Group Inc., a leading intermediary and provider of trading technologies and support services to the global OTC and listed markets. The Company’s Financial Services offerings include fixed income securities, interest rate swaps, foreign exchange, equities, equity derivatives, credit derivatives, commodities, futures, and structured products. BGC provides a wide range of services, including trade execution, broker-dealer services, clearing, trade compression, post trade, information, and other services to a broad range of financial and non-financial institutions. Through brands including FENICS, BGC Trader, Capitalab, and BGC Market Data, BGC offers financial technology solutions, market data, and analytics related to numerous financial instruments and markets.

Real Estate Services are offered through brands including Newmark Grubb Knight Frank, Newmark Cornish & Carey, ARA, Computerized Facility Integration, Landauer Valuation & Advisory, and Excess Space. Under these names, the Company provides a wide range of commercial real estate services, including leasing and corporate advisory, investment sales and financial services, consulting, project and development management, and property and facilities management.

BGC’s customers include many of the world’s largest banks, broker-dealers, investment banks, trading firms, hedge funds, governments, corporations, property owners, real estate developers, and investment firms. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit http://www.bgcpartners.com. You can also follow the Company at https://twitter.com/bgcpartners and/or https://www.linkedin.com/company/bgc-partners.

BGC, BGC Trader, GFI, FENICS, FENICS.COM, Capitalab, Swaptioniser, Newmark, Grubb & Ellis, ARA, Computerized Facility Integration, Landauer, Landauer Valuation & Advisory, and Excess Space, Excess Space Retail Services, Inc., and Grubb are trademarks/service marks, and/or registered trademarks/service marks and/or service marks of BGC Partners, Inc. and/or its affiliates. Knight Frank is a service mark of Knight Frank (Nominees) Limited.

Discussion of Forward-Looking Statements about BGC Partners
Statements in this document regarding BGC’s businesses that are not historical facts are “forward-looking statements” that involve risks and uncertainties. Except as required by law, BGC undertakes no obligation to release any revisions to any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see BGC’s Securities and Exchange Commission filings, including, but not limited to, the risk factors set forth in its public filings, including the most recent Form 10-K and any updates to such risk factors contained in subsequent Forms 10-Q or Forms 8-K.

Logo – http://photos.prnewswire.com/prnh/20150220/176732LOGO

Hawks arrest three Traffic officers for corruption

Three Traffic Officers nabbed for corruption

Three traffic officers stationed at Ngqushwa Municipality Traffic department have appeared before the Peddie Magistrate’s Court on Wednesday on charges of Corruption. Mzuvukile Nelson Nkontso (50), Noluvuko Viba (29) and Phathekile Dinginto (44), who are all Superintendents at the traffic department, were arrested on the same day by the Serious Corruption Investigation (SCI) unit of the Hawks.

The three are accused of demanding and taking bribes from motorists travelling along the R72 road between East London and Port Alfred. Furthermore, they trio allegedly demanded and received bribes from motorists travelling on the N2 road between King Williams Town and Grahamstown.

These arrests resulted from an undercover joint operation between SCI and Crime Intelligence. The operation was conducted from September 2016 to December 2016.

Nkontso, Viba and Dinginto were each granted R3000 bail and their next court appearance will be on 26 January 2017.

Source: Government of South Africa

Presidency on the appointment of the interim Board of the SABC

This week The Presidency announced the resignation of Prof Obert Maguvhe as a member and a Chairperson of the South African Broadcasting Corporation (SABC) Board.

According the Broadcasting Act, 1998, the National Assembly may after an inquiry and by the adoption of a resolution, recommend the dissolution of the SABC Board.

Upon the dissolution of the Board, the President is required by the Broadcasting Act to appoint an interim Board consisting of three executive members of the Board and five persons recommended by the National Assembly.

The Broadcasting Act requires the President to appoint the interim Board within 10 days of receiving recommendations from the National Assembly. The interim Board is appointed for a period not exceeding six months.

The President will wait for the National Assembly to conclude its inquiry. Any further decision regarding the SABC Board will be guided by the recommendations of the National Assembly.

Source: Government of South Africa

MEC Dan Plato condemns latest mall robberies

I condemn in the strongest possible way the latest incidents of mall robberies which have occurred today across Cape Town.

The safety of everyone in the province has to be the main concern of shoppers, mall management and the various law enforcement entities alike.

I applaud the prompt support provided by the South African Police Service (SAPS) and the good cooperation between most of the malls and shopping complexes’ management and the SAPS across the province.

Where private security at these establishments is found wanting, I urge the respective mall management to prioritise the safety of their patrons and increase security measures and compliance to security measures. In the final days leading to Christmas, as well as the extended holiday period beyond this weekend, we all need to play our part to help create safer environments, even while out shopping.

The Western Cape Government will continue to monitor the role shopping centres, its management and their private security play to ensure the safety of shoppers in the province.

In 2014, the Western Cape saw an increase in robberies and attempted robberies at various shopping malls and complexes across the province. From these events, myself and the Department of Community Safety has been a willing partner to any organisation, mall or complex who wanted to help increase their security.

Two years ago there was general consensus from everyone � SAPS, mall security, mall management, municipal law enforcement and broader safety fraternity � that the situation is regarded as serious and that a business-as-usual approach to security measures and interventions were not sufficient to adequately protect the patrons and members of the public.

I call on each person in the province, including those in charge of security at malls or shopping complexes, to stay vigilant about your immediate safety and the safety of those around you. Shop and mall management should ensure their service providers adhere to the industry standards aimed towards best results – for example, where CCTV cameras are in use, these should be well maintained (clean lenses for instance), the feed should be of good quality (to be able to identify people), and the camera angles should be considered as well.

Shopping centres and its management should also form working partnerships with their local SAPS stations and the provincial SAPS for assistance where necessary.

The police cannot be everywhere at the same time. It is everyone’s responsibility to help ensure safety where we live, work, and shop.

Source: Government of South Africa