Category: News

New York, January 3, 2012 – New York’s Hap Capital has licensed FENICS Professional™ Pricing and Analytics Tools from GFI Group, Inc. (NYSE: GFIG) for use on Hap Capital’s FX Options Desk in New York City.

Andrew Dexter, Head of FX Options at Hap Capital said, “After evaluating numerous  systems for FX Options that cover pricing, risk management, and transaction processing, we decided that GFI FENICS^SM was clearly the best choice. Their platform, FENICS Professional, provides us with the accuracy, ease of use and scalability we require to support and grow our business”, and added, ” FENICS’ customer support team provides fantastic training and ongoing support to help us get the most out of the platform and be more efficient.”.

“We are delighted to welcome HAP Capital as a client and to be able to provide them with the tools they need to continue developing their FX options business. Our business has grown significantly during the last few years as we have added new clients from every market segment” said Richard Brunt, Global Head of FENICS & Market Data Services at GFI.

HAP Capital acts as a liquidity and efficiency provider to the marketplace and differentiates itself from most other firms in the space in its internally-developed quantitative approach to its trading strategy and business model.

FENICS Professional is a powerful front, middle and back office platform for pricing, analyzing, and managing FX options. An end-to-end solution, 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, multi-currency strategies.

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

BofA Merrill Lynch joins 5 top banks providing FX options liquidity to FENICS Trader

New York, June 20, 2011 – GFI FENICS,  part of GFI Group Inc. (NYSE: GFIG),announced today that BofA Merrill Lynch has gone live as a liquidity provider on its FX options platform FENICS Trader™. The bank will initially support options across 44 currency pairs.  

FENICS Trader, the pioneering e-Commerce solution for FX options, provides users with multi-bank FX options liquidity from a single user interface. Launched in February 2011 after a successful test period, trade volumes & notional amounts continue to increase as the product is rolled out.

Liam Hudson, Global Head of E-FX Trading at BofA Merrill Lynch, said, “We are pleased to support FENICS Trader with liquidity. Our aim is to provide our clients with a combination of high quality price support and the best possible service experience”. He added, “BofA Merrill Lynch liquidity will further enhance the value of FENICS Trader for our clients. Expanding our eFX options capability is a key part of BofA Merrill Lynch’s strategy to grow the FX franchise”.

Richard Brunt, Global Head of GFI FENICS stated, “We are delighted that a bank of the stature of BofA Merrill Lynch has agreed to support FENICS Trader and our many mutual clients with its liquidity. This will help maintain the very encouraging growth we have seen in trade volumes since our launch.”

BofA Merrill Lynch joins a growing liquidity pool on FENICS Trader, including BNP Paribas, Commonwealth Bank of Australia, Credit Suisse, UBS and Unicredit Bank AG.

Brunt added: “FENICS Trader continues to be well supported by the market-making banks, with other banks to go live in the coming months. The breadth of market coverage on FENICS Trader is very compelling and provides our clients very competitive prices in a single interface”.

FENICS Trader is available to clients via the FENICS Professional™ platform. FENICS Professional is a suite of pricing, trading, risk management and STP components allowing customers to control, monitor and oversee every aspect of FX option trading and lifecycle management from a single interface.

GFI FENICS has been providing leading FX derivatives software since 1987. Its products are licensed to over 350 client firms worldwide – financial institutions and corporations – with thousands of users benefiting from its solutions.

 

New York, June 14th, 2011 – GFI FENICSSMannounced it has entered an agreement with Cambridge Mercantile Corporation of Toronto, Canada for the licensing of FENICS Professional™ 12.1 to support its new FX options business.

Bernard Heitner, CEO, Cambridge Mercantile Corp. said, “We evaluated several systems for FX options pricing, risk management, and transaction processing. FENICS Professional provides risk reporting that is easily tailored to the specific requirements of our FX options workflow making it the best platform to suit our needs. The GFI FENICS customer support team provides in-depth training and ongoing support to help us get the most out of FENICS Professional.”

Sue Poulin, Commercial Head of GFI FENICS for the Americas commented, “We are delighted that Cambridge Mercantile Corp. has selected FENICS Professional to assist in building its FX options business. FENICS Professional allows us to cater to the needs of clients in many different market segments as it provides a robust solution for FX options analysis, pricing and reporting” and added, “GFI FENICS has seen strong growth in the Americas over the last year as it continues to prove itself as a market-leading solution in FX options.”

FENICS Professional is a suite of pricing, trading, risk management and STP (straight-through processing) components allowing customers to control, monitor and oversee every aspect 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.

 

 

 

 

 

 

 

 

GFI Group Inc. announced today the launch of FENICS Trader, a single point of access to multi-bank liquidity for foreign exchange options. This pioneering technology facilitates independent FX options price discovery, offering a “many-to-many” venue for bilateral trading and execution.

FENICS Trader is supported by 9 of the world’s leading banks, with others to go live in early 2011. Live liquidity banks include BNP Paribas, Commonwealth Bank of Australia, Credit Suisse, UBS and Unicredit Bank AG.

During a 6 month soft launch period, trade volumes grew impressively, rising to over 120 trades per month. This soft launch involved 20 of GFI FENICS’ clients.

FENICS Trader allows clients to calculate indicative prices based on banks’ proprietary volatility surfaces. Using “Request for Quote” (RFQ) technology clients receive a tradable price from their preferred liquidity bank. Once the price is agreed, electronic execution is completed on a bi-lateral basis.  At present FENICS Trader supports European vanilla and simple two-legged structures. Trades can be priced in volatility or premium terms. FENICS Trader is available to clients via the FENICS Professional™ platform.

Richard Brunt, Global Head of GFI FENICS stated: “This is a very important step forward for GFI FENICS and for the FX options dealing community. FENICS Trader is the first many-to-many FX options execution platform, and the initial volumes have been hugely encouraging showing that this initiative is well supported by the market and valued by GFI FENICS’ client base, and is particularly relevant in light of the regulatory environment.”

Brunt added: “FENICS Trader was a logical enhancement to the FENICS Professional workflow solution. It removes the need for duplicate trade entry and manual price discovery via the telephone or electronic messaging.” Brunt continues: “As more liquidity providers join the community, our clients will have a wider choice of trading partners, accessible from a single, industry standard application.”

FENICS Professional is a suite of pricing, trading, risk management and STP components allowing customers to control, monitor and oversee every aspect of FX option trading and lifecycle management from a single interface.

GFI FENICS has been providing leading FX derivatives software since 1987. Its products are licensed to over 350 client firms worldwide – financial institutions and corporations – with thousands of users benefiting from its solutions. FENICS Trader additionally provides clients worldwide with access to a liquidity pool in order to bilaterally transact currency options.

Leading Taiwanese Bank steps up to FENICS Professional™ 12.1

New York, December 14, 2010 – First Commercial Bank, a leading Taiwanese Bank, has licensed the latest release of FENICS Professional, the market leading system for foreign exchange options from GFI Group Inc. (NYSE: “GFIG”). The bank has deployed FENICS Professional version 12.1 which includes the new functionalities: FENICS Sales, FENICS Trader and the latest version of FENICS Exotic maths models.

FENICS Professional version 12.1 provides traders at First Commercial Bank with the ability to spread their volatility surface based upon the counterparty profile to ensure sales professionals have desktop access to the correct prices. Sales and traders can communicate through FENICS chat, and confirm prices via internal RFQ. Term sheet functionality allows sales users to produce multi language term sheets, with full graphing capabilities.

“We have an excellent long standing relationship with First Commercial Bank, and we are very happy that they have chosen to deploy FENICS Professional” said Elliott Hann, Head of GFI FENICS Sales in Asia. “The new version steps up our price distribution and sales tool capabilities, the ability to spread prices by counterparty and the direct distribution of retail products”. “We continue to be committed to providing scalable and customized solutions to fit our clients’ needs” he further commented.

The Bank has been a client of FENICS since 1998.

First Commercial Bank is a leading bank in Taiwan with offices across the Greater China region, providing international banking and multi-asset class investment and transaction services 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 every aspect 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.