Three year license signed with GFI Group
New York – 8 April 2009 – Bank Leumi Le-Israel of Tel Aviv has extended its license for GFI FENICS FX, pricing and risk management software from GFI Group, Inc (Nasdaq: GFIG).
The bank, a long standing client of GFI, is using the latest FENICS functionalities, including Pricing, Analysis, STP/API to export data to its back-office system including the new Structuring Module and Exotic Math Module, allowing the bank to design, price, and distribute complicated structures with ease.
Guy Hanan, Head of Options at Bank Leumi Le-Israel said, “We have been using FENICS FX since 1995 and this was an ideal opportunity to continue our partnership for the next 3 years. Our business in Israel is growing strongly in both Vanillas and Exotics and FENICS FX gives us the confidence we need in our pricing, exotic risk management and mark to market revaluation.”
“This is a real vote of confidence in GFI’s technology investment and our plans for the future” said Richard Brunt, head of GFI FENICS. “Israel is a very sophisticated FX options market and we are delighted that FENICS enjoys wide support amongst the participants”.
The license was signed in January 2009 and Bank Leumi Le-Israel is now live with the latest version of GFI FENICS.
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 analytics software products to institutional clients in markets for a range of credit, financial, equity and commodity instruments. Fenics Software Limited is a wholly owned subsidiary of GFI Group Inc.
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 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.
Vice President – Public Relations
GFI Group Inc.
55 Water Street, 28th Floor
New York, NY 10041
Tel: (212) 968 2964
Mob: (646) 717 4379