New York, July 2, 2013 – FENICS® Software Ltd. today announced that Western Union Business Solutions, a division of the Western Union Company, a leader in global payment services, has licensed FENICS ProfessionalTM, a pricing and risk management system, to enable it to extend increased foreign exchange products and services to its European clients. This new agreement adds to existing services FENICS has been providing Western Union Business Solutions in other markets.
FENICS Professional will provide Western Union Business Solutions in Europe with various bespoke customisations such as mirror ticketing for booking internal trades, multi-lingual client confirmations and internal ticket identifier reporting that will support its efforts to bring new product offering to clients.
Richard Brunt, Managing Director of FENICS, said: “We are delighted Western Union Business Solutions has chosen to use our software in Europe. FENICS has been working with Western Union Business Solutions for seven years and we have developed an excellent relationship during that time. We look forward to supporting their European team as they work to expand the products they are able to offer customers.”
Tony Crivelli, Vice President, Global Options Strategy at Western Union Business Solutions, commented: “Our first priority is to bring best in class service to our clients. We are expanding our product set to meet growing needs around the world, which is why working with the right partners is crucial. We have been using FENICS Professional in other markets with great success, so it was a natural step to expand our relationship to Europe as well.”
FENICS Professional is a suite of pricing, trading, risk management and STP (straight-through processing) components allowing customers to control, monitor and oversee a comprehensive range of FX option trading and lifecycle management from one single interface.
FENICS has been providing leading FX derivatives software since 1987. Its products are licensed to over 350 institutions worldwide with thousands of users benefiting from its solutions. Clients include banks, multinational corporations, brokers, and hedge funds.
Western Union Business Solutions enables companies and organizations of all sizes to send and receive international payments and manage foreign exchange, creating unique solutions tailored to suit their individual needs. It is a business unit of the Western Union Company (NYSE: WU), a leader in global payment services, and offers services through locally licensed affiliates in over 30 countries. Supported by a network of trading offices, strategic banking relationships and a global clearing network, businesses can send cross-border payments in more than 135 currencies. © 2013 Western Union Holdings, Inc. All rights reserved.