Author: fenics

New York, September 22, 2014 – FENICS®, a leading provider of FX options software, announced today that Yuanta Bank, a leading Taiwanese commercial bank, has connected to FENICS Gateway and also extended its FENICS Professional license.

FENICS Gateway is a FENICS-hosted messaging hub connecting multibank and single bank transactional venues to FENICS Professional clients. It allows STP connectivity of post-trade details both between counterparties, and straight into the client’s FENICS database for risk management and onward distribution to trade repositories via third parties such as Traiana. FENICS Gateway supports STP for FX options, precious metals, NDF’s, spot and forward trades.

Richard Brunt, Managing Director of FENICS, said, “We are delighted that Yuanta Bank has extended its relationship with FENICS, and joined the growing community using FENICS Gateway for post trade messaging.” Brunt continued: “FENICS Gateway was soft launched at the turn of the year and has already processed in excess of a thousand trades a month between execution venues and FENICS clients. We expect the volumes to continue to grow as more clients and publishers come on board”

Sywoei Lui, Senior Trader at Yuanta, said, “As well as innovative solutions for the FX options marketplace we continue to be impressed with the professionalism when dealing with the expert staff at FENICS. We look forward to partnering with FENICS for many years to come.”

FENICS is used at over 350 client sites worldwide with thousands of end users from all across the financial markets benefiting from its solutions.

FENICS®, a leading provider of FX options software, announced today that Nittan Capital, a leading inter-dealer broker in the Asia-Pacific region specializing in financial derivatives between banks and authorized financial institutions, has licensed FENICS ProfessionalTM, a pricing and risk management system for foreign exchange options. Nittan Capital has deployed FENICS Professional in its Singapore and Hong Kong offices.

Richard Brunt, Managing Director of FENICS, said: “We are delighted that Nittan Capital has
selected FENICS Professional as their FXO system, delivering a high level of integration via our locally based Professional Services Group. This is an exciting time for FENICS in the Asia region, as we continue to widen our client base. Our investment in development and support resources in Asia is on-going and is something that we will look to accelerate in 2014”.

Chris Butcher, Head of Regional Currency Options at Nittan Capital said: “We have selected FENICS Professional over the competition not only on the basis of its reputation in the FX Options market place but also because of FENICS’ ability to connect to our back office system seamlessly, making our business process more efficient and allowing us to better service our customers.”

The FENICS Professional STP API allows Nittan Capital staff to quickly and accurately capture FX option trade details and send them through to their back office systems and to their client network without the need for re-keying or human intervention.

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 from its solutions.

 

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 Professional^TM, 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.

 

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 Professional^TM, 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.

 

New York, May 6, 2013 – FENICS Software Ltd, a GFI Group Inc. (NYSE:”GFIG”) company, announced today that E.SUN Commercial Bank Ltd., a leading Taiwanese Commercial Bank, has extended its license for the use of FENICS Professional™.

FENICS Professional provides E.SUN Commercial Bank with capabilities such as volatility surface management, Internal RFQ (request for quotes) and automatic term sheet generation. The bank has been a customer of FENICS since 2004.

“We are very proud that E.SUN Commercial Bank has chosen to expand their usage of our software and renew its contract with us for the use of FENICS Professional. Our excellent relationship with the bank goes back almost 10 years”, said Elliott Hann, Commercial Director of FENICS, and added, “This is an exciting time for us as we continue to bring new and innovative capabilities to market through our FENICS Professional service”.

Mr. Peter Shih, Executive Vice President & General Manager, at E.SUN Commercial Bank Treasury Division commented: “E.SUN Commercial Bank encourages innovation in all areas and FENICS Professional fits our strategy in helping to streamline procedures and support innovation in our Foreign Exchange products. E.SUN Commercial Bank is pleased to expand and continue this long standing partnership with FENICS”.

Headquartered in Taipei, E.SUN Commercial bank was founded in 1989 under the leadership of Chairman Mr. Yung-Jen Huang and commenced operations in 1992. The passage of the Financial Holding Company Law in 2001 paved the way for birth of E.SUN Financial Holding Company Ltd, on January 28, 2002. E.SUN Commercial Bank provides complete financial services inclusive of corporate, personal, wealth management, credit card, and treasury division.

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.

 

 

 

 

 

Agreement will embed FENICS pricing module within 360T’s TEX trading platform

New York, January 22, 2013 – FENICS® Software Ltd, a GFI Group Inc. (NYSE:”GFIG”) company, announced today that it has signed an agreement with 360 Treasury Systems AG “360T” to embed the FENICS FX Options Pricing engine (FENICS ePricer) into 360T’s TEX multi-dealer trading system.

FENICS ePricer provides indicative price discovery across a wide range of currency pairs, and has been configured to support the strategies and workflows within the 360T TEX platform – including one and two-legged vanilla strategies, supporting both live (without hedge) and delta-hedged requests. Prices generated by FENICS ePricer flow seamlessly into 360T’s TEX trading platform which can subsequently send RFQ’s to the 360T liquidity pool. This incorporated solution also includes all benefits of a multi-bank platform like the documentation of best price execution and a fully straight-through-processing (STP).

Richard Brunt, Managing Director FENICS, said: “We are delighted to have reached this agreement with 360T and to support the TEX platform with the FENICS ePricer, the partnership will introduce FENICS technology to a wider user base in client segments such as corporate treasuries, buy side institutions and smaller regional financial institutions”

Carlo Koelzer, CEO at 360T, added: “The inclusion of the FENICS Options pricer within our TEX service will give our clients in addition to our powerful services, access to the market leading indicative pricing system and will encourage flows through our TEX platform. We have rolled the FENICS ePricer to a cross section of our client base and the feedback has been extremely encouraging, and we look forward to a wider rollout in the coming month.”

Agreement will embed FENICS pricing module within 360T’s TEX trading platform

 

FENICS Professional to provide automated reporting workflow solution

New York, December 18, 2012 – GFI Group Inc. (NYSE: “GFIG) is pleased to announce that GFI FENICS® has developed an automated data report generator for FENICS Professional users in Japan to meet new Japanese regulatory reform requirements.

A Japanese Cabinet Office Ordinance was recently put into force to reform part of the Financial Instruments and Exchange Act with regard to restrictions of OTC derivatives trading. As a part of this reform, all financial institutions are required to store all trade-related information and report this information to Financial Authorities.

Mr. Aoyagi, FX Manager of Hokuetsu Bank, who has worked in partnership with FENICS to define the reporting requirements said, “Strengthened regulation against financial institutions is a need at this time, and we should make our utmost efforts to enhance efficiency to maintain competitiveness in the market. In order to reduce the work load of reporting with secured accuracy, we judged that the automated procedure was the best solution and requested that GFI FENICS complete this development”.

Atsuo Kanazawa, Head of GFI FENICS Tokyo said, “This appeal by Financial Authorities reflects the global trend to strengthen the regulation on derivative trading, and it is now a requirement for vendor systems to accommodate these demands flexibly and to provide necessary services. GFI FENICS is always ready to serve our customers changing needs, in this case to facilitate changes to regulatory reporting requirements”.

Richard Brunt, Global Head of GFI FENICS added, “GFI FENICS has evolved over the past 25 years by listening to client needs and to market trends. Once again, FENICS Professional has addressed our clients’ need to automate and enhance trader workflow. We expect this trend to continue globally as regulatory reporting continues to be at the forefront of our customers business requirements“.

 

FENICS Trader named Technology Development of 2012

 

New York, July 12, 2012 – GFI FENICS^SM, part of GFI Group Inc. (NYSE: “GFIG”), announced today that the latest release of FENICS Trader^TM has received the 2012 “FX Options Initiative of the Year” granted by the FX Week, an Incisive Media publication.

This award was new for 2012 and it acknowledges the FX options initiative that has had the most successful launch, and shows the most promise in the long term. 

FENICS Trader is a multi-bank venue delivering indicative and tradable FX options liquidity to the FENICS Professional^TM customer base. Building on its successful launch in 2011, the latest release, launched in February 2012, has added significant new functionality to increase price transparency and ease of price request to improve user workflow and efficiency. 

Richard Brunt, Global Head of GFI FENICS℠ said: “GFI FENICS has 25 years’ experience of providing award winning price discovery software to currency derivative markets, for which it is extremely well regarded. We are delighted to have won this award from FX Week for FENICS Trader. The monthly trade volumes have grown impressively over the last 12 months, as more of our clients embrace the functionality, and as we add new liquidity providers”.

FENICS Professional is a powerful front, middle and back office platform for pricing, analyzing, and managing FX options. An end-to-end solution, we believe it provides all the necessary tools, math models and independent market data for fast, accurate price discovery and revaluation of vanilla options and exotic, multi-leg, and multi-currency strategies.

FENICS Professional is licensed to over 350 clients worldwide, financial institutions and corporations, with thousands of users benefiting from its solutions.