GFI Group Inc.'s affiliated entity agreed to acquire Johannesburg-based Micromega Securities Proprietary Ltd.
Micromega Securities is an interdealer broker operating 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 Group and Micromega Securities have operated a joint venture since 2013. Micromega Securities is a wholly owned subsidiary of Micromega Holdings Pty. Ltd.
Details of the transaction were not disclosed.
GFI Group Inc. is a subsidiary of BGC Partners Inc.