Benchmark's Toffey Surfaces at GFI

Jim Toffey, founder of fixed income trading platform Tradeweb, has joined interdealer broker GFI as global head of electronic markets, a newly-created role, responsible for growing the broker's electronic marketplaces among cash, derivative and commodities traders and market makers, reporting to GFI chief executive Colin Heffron.

Toffey was most recently CEO of Benchmark Solutions, a real-time over-the-counter fixed income pricing provider created in 2009 with backing from Warburg Pincus, which launched in 2011, providing streaming prices for 550 credit default swap curves and 7,000 corporate bonds, but folded earlier this year after failing to generate enough business to support its costs, sources told IMD at the time.