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GFI launches US carbon trading and project team
23 February 2010
GFI Group, the interdealer broker, has set up a team in New York working on carbon and emissions trading. Known as the GFI Environmental Products Group, it will originate, commercialise and trade secondary market credits.
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The group comprises Matt Phelan, Darryl Donohue and Jubin
Pejman. Phelan and Donohue are senior brokers experienced in fixed income and
equity markets.
Donohue has also worked in commodities. Pejman had been
vice-president of the Americas at Trayport, the trading software company bought
by GFI in February 2008.
GFI already has a carbon business in Europe with six
brokers. The new group will focus on the US carbon markets but could eventually
collaborate with its European counterparts.
A spokesperson in New York said: “The EPG will be looking
for qualified emissions reduction projects where it will become the project
developer, bringing together all aspects of the carbon credit lifecycle. This
will bring together project management, consulting, managing verification
process, commercialisation and secondary market trading.
“The group is also looking at the European markets and all
the regional US markets.”