London – 26th January 2009 – BHF-Bank, a German private bank, has signed a three-year licence for GFI FENICS FX, pricing and risk management software from GFI Group, Inc (Nasdaq: GFIG).
BHF-Bank traders and sales traders will use FENICS’s math models and independent market data to formulate and quote prices for foreign exchange options to their clients.
Detlef Kosior, Head of FX Options at BHF-Bank said, “FENICS FX, using trusted market data sources that we control, allows the bank’s traders to distribute prices speedily to the sales force, who can then react swiftly to changing markets to ensure competitive quotes for our clients. Also, FENICS’s handling of not only vanilla FX options but also multi-legged, multi-currency strategies, enables BHF-Bank to offer very tailored solutions.”
“Giving power to salespeople and freeing up the traders has been one of the goals in recent FENICS development”, said Richard Brunt, head of FENICS at GFI Group. “FENICS’s pricing module delivers great efficiency for banks by giving more flexibility to salespeople and we are delighted to receive this endorsement in the form of a licence sale to BHF-Bank”.
The contract took effect at the beginning of January.
About GFI Group Inc
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 analytics software products 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, Tel Aviv, Dublin, 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 banks, corporations, insurance companies and hedge funds. Its brands include GFI™, GFInet®, CreditMatch®, GFI ForexMatch®, EnergyMatch®, FENICS®, Starsupply®, Amerex® and Trayport®.
Certain matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words “anticipate,” “believe,” “estimate,” “may,” “might,” “intend,” “expect” and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: economic, political and market factors affecting trading volumes; securities prices or demand for the Company’s brokerage services; competition from current and new competitors; the Company’s ability to attract and retain key personnel, including highly-qualified brokerage personnel; the Company’s ability to identify and develop new products and markets; changes in laws and regulations governing the Company’s business and operations or permissible activities; the Company’s ability to manage its international operations; financial difficulties experienced by the Company’s customers or key participants in the markets in which the Company focuses its brokerage services; the Company’s ability to keep up with technological changes; and uncertainties relating to litigation. Further information about factors that could affect the Company’s financial and other results is included in the Company’s filings with the Securities and Exchange Commission. The Company does not undertake to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.