1. ORGANIZATION AND BUSINESS The Condensed Consolidated Financial Statements include the accounts of GFI Group Inc. and its subsidiaries (collectively,  GFI  or the  Company ). The Company, through its subsidiaries, provides wholesale brokerage and trade execution services, clearing services and trading system software products to institutional clients in markets for a range of fixed income, financial, equity and commodity instruments. The Company complements its brokerage and trade execution capabilities with value-added services, such as market data and analytical software products for trader and back-office support, which it licenses primarily to companies in the financial services industry. As of June 30, 2014, Jersey Partners, Inc. ( JPI ) owned approximately 37% of the Company s outstanding shares of common stock. The Company s executive chairman, Michael Gooch, is the controlling shareholder of JPI. On July 30, 2014, the Company entered into an Agreement and Plan of Merger with CME Group Inc. ( CME ) whereby the Company agreed to merge with and into a wholly owned subsidiary of CME (the  CME Merger ). At the effective time of the CME Merger, each share of GFI common stock issued and outstanding immediately prior to the effective time will be converted into the right to receive a fraction of a share (the  Exchange Ratio ) of CME Class A common stock ( CME Class A Common Stock ). The Exchange Ratio is a fraction, the numerator of which equals $4.55 and the denominator of which equals the average closing sales price of CME Class A Common Stock as reported on the NASDAQ Global Select Market for the ten trading days ending upon and including the trading day immediately before the closing date of the CME Merger. Concurrently with the CME Merger, pursuant to an agreement and plan of merger entered into on July 30, 2014, JPI will merge with and into a wholly owned subsidiary of CME and immediately following the CME Merger, pursuant to a purchase agreement entered into on July 30, 2014 (the  Purchase Agreement ), a