London – May 6th 2008 – BAWAG Bank, a Czech bank, has taken a three-year licence for FENICS FX – pricing and risk management software from GFI (Nasdaq: GFIG). The bank will use FENICS to price fx options.
Jiri Mach, head of treasury sales at BAWAG said, “To be able to meet our clients’ increasing demand for FX option hedging, we at BAWAG need to price not just vanilla fx options but also exotic, multi-leg, multi-currency strategies. FENICS FX easily handles all of these and provides us with the tools required for fast and accurate price discovery, allowing us to quote competitive and indicative prices quickly to our clients and take advantage of market opportunities.”
“GFI is delighted to have signed its first FENICS client in the Czech Republic”, said Richard Brunt, GFI’s global head of FENICS sales. “As Eastern Europe demands more in terms of structured financing, the region’s banks need sophisticated pricing and risk management capabilities, such as FENICS FX’s”.
BAWAG’s licence covers FENICS’s Pricing, Security, Live rates, Exotic Maths and Structuring modules.
The deal was signed on April 7th and FENICS FX is now live at BAWAG.
BAWAG is part of BAWAG PSK, an Austrian financial group.
About GFI Group Inc. www.GFIgroup.com
GFI Group Inc. (www.GFIgroup.com) is a leading inter-dealer broker specializing in over-the-counter derivatives products and related securities. GFI Group Inc. provides brokerage services, market data and trading platform and analytics software to institutional clients in markets for a range of credit, financial, equity and commodity instruments.
Headquartered in New York, GFI was founded in 1987 and employs more than 1,700 people with additional offices in London, Paris, Dubai, Hong Kong, Shanghai, Tokyo, Singapore, Sydney, Seoul, Cape Town, Calgary, Englewood (NJ), and Sugar Land (TX). GFI provides services and products to over 2,200 institutional clients, including leading investment and commercial banks, corporations, insurance companies and hedge funds. Its brands include GFI™, GFInet®, CreditMatch®, GFI ForexMatch™, EnergyMatch®, FENICS®, Starsupply®, Amerex® and Trayport®.
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GFI Group Inc.
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