First Czech client for leading fx pricing and risk management system
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®.
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.
GFI Group Inc.
+ 44 (0)20 7877 8049