Global deployment for leading fx pricing and risk management system
New York – October 20 2008 – Bank of New York Mellon, an asset management and securities services company, has signed a three-year license for GFI FENICS FX – pricing and risk management software from GFI Group Inc. (Nasdaq: GFIG).
Bank of New York Mellon is using GFI FENICS FX at offices in New York, London and Tokyo for central pricing and risk management and global price distribution. Also, the bank is using FENICS FX’s STP module for straight-through processing of trade detail, rate and revaluation information between GFI FENICS FX and other systems for improved operational efficiencies and to streamline workflows.
Michael Hyland Bank of New York Mellon’s managing director of global markets, said, “GFI FENICS FX enables us to integrate multiple internal and external rate sources, giving the bank confidence it is pricing and revaluing trades and positions with the most transparent and accurate information available. Also, FENICS FX’s Structuring Module helps the bank’s sales team to design, price, and distribute complicated structures with ease.”
“GFI is delighted to add Bank of New York Mellon to the GFI FENICS client list”, said Richard Brunt, global head of GFI FENICS. “This is a great example of a bank with global reach deploying GFI FENICS FX to its full effect.”
The bank has taken the FENICS FX Pricing, Analytics, Structuring, STP, Security and Live Rates modules.
Bank of New York Mellon signed the license at the end of June and was live soon after.
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 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, 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 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.
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