Indian broker takes GFI’s FX system
London – February 9th 2009 – Kanji Pitamber & Co, an Indian financial services group, has licensed GFI FENICS FX, a pricing and risk management system for foreign exchange options from GFI Group, Inc. (‘GFIG’ on Nasdaq). The group will use the system in its Mumbai head office.
Unnati Parekh, head of currency options at Kanji Pitamber said, “The flexible way in which GFI FENICS FX enables us to analyze Rupee foreign exchange options is key to enhancing our brokerage operation. We have selected GFI FENICS FX on the basis of its capability to provide this analysis and to also feed in and control our own volatility data”.
“The Indian FX options market remains robust in 2009 and GFI Group is delighted that Kanji Pitamber has selected GFI’s pricing and analytics platform.” said Rinta Mukkam, GFI FENICS representative for South East Asia. “We have again shown how GFI FENICS can create efficiencies for our customers through our open and customisable platform, coupled with an easy to use interface ”
Kanji signed the licence in January and it covers the FENICS FX pricing and analytics modules.
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.