Category: News

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.

New York, June 27, 2012 – GFI Market Data, a division of GFI Group Inc. (NYSE: GFIG), and Visual Risk announced today that they have entered into an agreement whereby GFI will supply Visual Risk with its full suite of Market Data, which includes data on OTC derivatives in fixed income, FX, energy & commodities, equities and interest rates.

Paul Nailand, Managing Director of Visual Risk said: “We are delighted to have GFI’s Market Data suite available as part of our new Integrated Market Data Service. Corporate treasuries and smaller financial institutions increasingly need to take a more sophisticated approach to valuation and curve construction. The volatility surfaces and other specialised data that GFI provide play an integral role in this process and we are pleased to be able to make them available seamlessly to our customers.”

Philip Winstone, Global Head of Market Data at GFI stated: “GFI is excited to be able to offer Visual Risk’s diverse client base access to our OTC market data. The demand for transparent high quality OTC derivative data has never been higher and this partnership makes GFI data available to a wider audience than traditional financial market participants. Visual Risk’s clients are able to now streamline GFI data directly into their Total Treasury™ system via an automated cloud-based service.”  

Visual Risk is a specialist provider of treasury solutions to public and private sector corporates, debt management intensive entities and financial institutions ranging from commercial banks to credit unions. Covering interest rates, FX, commodities and asset-liability management, Visual Risk delivers a full front-to-back solution encompassing advanced risk dashboard analytics, hedge accounting, back office and cash/liquidity management. Headquartered in Sydney, Visual Risk was founded in 2001 and has over 110 customers in Australia, New Zealand, South East Asia and Europe.

 

fenics-professional-12-2

New York, May 9, 2012 – GFI Group announced today the release of FENICS Professional™ version 12.2, a new generation of the award winning FX option platform which brings together pricing, distribution, bilateral trading and risk management capabilities for FX options.

FENICS Professional 12.2 focuses on expanding the functionality in FENICS® Sales and includes a Trade Strategy Wizard that helps sales teams select the optimal product based on the client’s needs from the institution’s list of approved products to offer their clients.

Richard Brunt, Global Head of GFI FENICS℠ said: “This latest release includes new functionality that has been designed in close collaboration with our current clients”

Brunt continues, “As our clients rolled out FENICS Sales to more generalist sales teams, they asked us to add a customizable sales wizard to assist users in finding the right product for their client through a series of intuitive questions.”

The new functionality is a natural extension of the FENICS Sales module. This module, launched in 2011, includes tools for volatility tiering (by counterparty), internal RFQ, bespoke termsheets and mirror ticketing. The Trade Strategy Wizard offers multilingual front end, bespoke workflow logic and full security functionality to control individual user access.

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.  The new generation FENICS Professional 12.2 includes other enhancements including improved deployment solutions, additional customizable alerts to internal RFQ (Sales to Trading), additional editing functionality to structures and an enhanced GFI FX option volatility market data feed covering over 110 currency pairs.

GFI FENICS, which celebrates its 25^th anniversary this year, 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.

 

New York, April 30, 2012 – GFI Group Inc. (NYSE: “GFIG”) announced today that California based Union Bank has upgraded their existing agreement with GFI FENICS^SM to include the full suite of FENICS Professional™ Pricing and Analytic tools.

Union Bank will utilize FENICS Professional for FX options price discovery, portfolio management and downstream STP (straight-through processing) of trades into its back office system.  Union Bank traders and sales team will have access to FENICS Professional’s Sales Module allowing them to build, price, and communicate the details of FX Options structures with speed and efficiency.

Beverly Henretty, Manager of Foreign Exchange and Derivatives Sales at Union Bank said, “We’re very pleased to build on our relationship with FENICS and upgrade to FENICS Professional. In addition to the powerful suite of software tools provided, we continue to be impressed by the excellent customer support that GFI FENICS provides as part of their standard service.”

Richard Brunt, Global Head of GFI FENICS & Market Data Services stated: “Union Bank is a very valuable client to us and we are delighted that Union Bank has taken our relationship to the next level and invested in FENICS Professional as the system of choice to develop its expanding FX option business into the future” and added, “North America is an important market for us where we are growing strongly by adding new clients and expanding our relationships with existing clients.”.

A client of GFI FENICS since 2003, Union Bank is extending its agreement for a further three years.

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.

GFI 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.

 

New York, April 10, 2012 – GFI Market Data, a division of GFI Group Inc. (NYSE: GFIG), announced today that it has extended its long-standing relationship with QUICK Corp.   GFI will continue to provide FX Options market data to the Japanese corporation. QUICK Corp. is part of the Nikkei Group of companies.

Gakuji Takahashi, Executive General Manager of QUICK Corp. said, “QUICK is pleased to renew its contract with GFI and continue the long standing and very active business partnership we have. GFI’s data services are pivotal to our customer base when making trading decisions in the OTC markets”, and added, “This agreement with GFI will enable us to continue to provide our customers with authoritative market data across Japan and worldwide.  Through the partnership with GFI, QUICK works positively to meet the clients’ high expectations.”

Philip Winstone, Global Head of Market Data at GFI stated: “We have provided our FX Options market data to QUICK Corp. and their clients since 2005 and are very honoured to extend this agreement. The need for high quality real market priced FX Options has never been higher and, by extending this long standing relationship, QUICK’s client base will continue to get access to over 100 FX Option currency pairs sourced from our data“.

The currencies offered via QUICK include a significant number of Japanese Yen cross currency option volatility surfaces that will be of particular relevance to the Japanese company’s client base.  Currency pair coverage from GFI Market Data has grown significantly since the data was added in 2005; at the present time it covers 20 Yen crosses.

QUICK Corp. is the principal Japanese financial information vendor and a financial information provider in the Nikkei Group. It supplies information to customers in the securities and financial markets. Their service offer includes Japanese, Asian and Global real-time financial information, as well as news and historical information.

New York, March 28, 2012 – GFI Group Inc. (NYSE: “GFIG”) announced today that HPI Financial  Group, a regional asset management house headquartered in Hong Kong, has licensed FENICS Professional™, a trading and risk management system for foreign exchange and commodity options provided by GFI FENICS℠.  FENICS Professional will help manage HPI’s rapidly expanding commodity derivatives business.

HPI has deployed FENICS Professional which includes: FENICS Sales, FENICS Trader™, FENICS Exotic Maths Models and the scalable trading solution, FENICS Enterprise, which enable HPI’s clients to perform trading and portfolio management of their commodities options through HPI’s mobile trading platform.

Philip Lau, CEO of HPI Financial Group said, “At HPI, we offer innovative trading solutions to our clients across the region, and GFI FENICS has helped us to increase trading transparency and efficiency.   We want to develop a mobile trading platform that provides the best user experience using the FENICS Professional package enhances our system’s capabilities to price and manage the risks of our derivative products and also helps our clients to perform real-time trading, portfolio analysis and margin level checking for both vanilla and exotic options.”

“We are delighted that HPI Financial Group has chosen to deploy FENICS Professional in Hong Kong” said Richard Brunt, Global Head of GFI FENICS & Market Data Services. “The ability for FENICS to be used as an engine for pricing and execution has been proven once again by HPI with their successful retail platform that is ‘Powered by FENICS’.  FENICS continues to grow and develop its footprint in branch and retail businesses globally” he further commented.

HPI’s CEO Lau added: “The scalability of the FENICS Professional solution equips our firm with a seamless technology to meet the growing demand of our business.” 

HPI Financial Group is a regional financial group, headquartered in Hong Kong, providing all-round financial services in asset management, option trading and financial planning to clients including financial institutions, funds, corporate and individual investors.

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.

GFI 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.

New York, February 21, 2012 – GFI Group Inc. (NYSE: “GFIG”) announced today that Cleveland based KeyBank has upgraded its existing agreement with GFI FENICS^SMto include the full suite of FENICS Professional™ Pricing and Analytic tools. In addition, KeyBank will expand the use of FENICS Professional to new users and locations.

KeyBank will utilise FENICS Professional for FX options price discovery, portfolio management and automated downstream STP (straight-through processing) of trades into its back office system.  Moreover, the new agreement will also provide KeyBank’s traders and sales team access to the FENICS Professional’s Sales Module that will allow them to build, price, and communicate the details of complex FX Options structures with speed and efficiency.

Kevin Kruszenski, Managing Director and Manager of Foreign Exchange Trading at KeyBank said, “FENICS Professional provides us with the full suite of tools we need to support and grow our business. We are excited to expand our agreement with GFI FENICS and benefit from the new functionality provided with the FENICS Professional suite”.

Richard Brunt, Global Head of GFI FENICS & Market Data Services stated: “Our business continues to grow strongly in North America by adding new clients and expanding our relationships with existing clients. We are delighted that KeyBank has taken our relationship to the next level and invested in FENICS Professional as the system of choice to develop its expanding FX option business into the future”.

A client of GFI FENICS since 1997, KeyBank is extending its agreement for a further three years.

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.

GFI 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.

FENICS Professional is provided by GFI FENICS, a part of GFI Group.

 

New York, February 7, 2012 – The RHB Banking Group, a leading Malaysian Bank, has licensed FENICS Professional™ from GFI Group, Inc. (NYSE: GFIG). The bank has deployed FENICS Professional version 12.1 which includes the new functionalities:  FENICS ^SM Sales, FENICSTrader™ and the latest version of FENICS ^SM Exotic Maths Models.

FENICS Professional provides the RHB Banking Group with capabilities such as volatility surface management, internal RFQ (request for quote) and automatic term sheet generation.

Mr. Johari Muid, Managing Director, RHB Bank, commented, “Licensing FENICS Professional is a step further in our relationship with GFI FENICS. At RHB, we work to be on top of the market with the range and depth of services and products we can offer our clients.”

“We are very happy that the RHB Banking Group has chosen to deploy FENICS Professional and that they have decided to expand their usage of our capabilities”, said Elliott Hann, Head of Sales for GFI FENICS^SM  in Asia. “RHB is now equipped with the latest version of our system which provides a broader range of tools for their FX derivatives business”. 

RHB Banking Group is currently the fourth largest fully integrated financial service group in Malaysia and has been a client of GFI FENICS since 2008.

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.

GFI 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.

FENICS Professional is provided by GFI FENICS, a part of GFI Group.