Major Chinese Bank deploys FENICS Middleware Solution
New York, September 11, 2013 – FENICS, a leading provider of FX options software, announced today that Bank of Communications, a leading global financial services group based in Shanghai, has licensed FENICS ProfessionalTM, a pricing and risk management system for foreign exchange options. The bank will be able to deploy FENICS Professional globally with improved system integration.
Richard Brunt, Managing Director of FENICS said, “We are very pleased Bank of Communications has recently extended their subscription to FENICS Professional and are also now benefitting from a more sophisticated and integrated front to back FX Options workflow as a result of close collaboration with the FENICS Professional Services team. Our continued investment in technology coupled with an industry leading consulting division means we have been very well placed to assist our clients with their integration requirements no matter the level of complexity involved.”
Jeffrey Jin at Bank of Communications said, “We have found that the flexibility in analysing our positions is key to enhancing operations. We have selected FENICS Professional on the basis of its ability to provide this analysis and to also to connect to our back office system seamlessly, making our business more efficient”
Bank of Communications has been a customer of FENICS since 2009.
Founded in 1908, Bank of Communications (BOCOM) is one of the four oldest banks in China and one of the first note-issuing banks in China. On April 1st 1987, as the pioneer of China’s financial revolution, BOCOM became China’s first state-owned shareholding commercial bank. BOCOM is headquartered in Shanghai.
FENICS Professional is a suite of pricing, distribution, risk management, analytics 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 is licensed to over 350 clients worldwide, financial institutions and corporations, with thousands of users benefiting fromits solutions.