Leading options market-maker chooses market-leading system for FX Options Desk
New York, June 8th 2009 – New York’s LaBranche Structured Products LLC has licensed FENICS® FX Pricing and Analysis from GFI Group, Inc. (Nasdaq: GFIG) for use on LaBranche’s FX Option Desk in New York City.
Andrew Dexter, head of FX Options at LaBranche said, “We evaluated multiple systems for FX Options pricing, risk management, and transaction processing and believe that FENICS® is the best system available for us. The FENICS® customer support team provides fantastic training and ongoing support to help us get the most out of FENICS® and be more efficient.”
“FENICS® has seen tremendous success over the last year adding new clients in a range of market segments; it continues to prove itself as the market standard in FX Options”, said Richard Brunt, Global Head of FENICS® & Market Data Services at GFI, “We are delighted that LaBranche has selected FENICS®.”
FENICS® FX is a powerful front, middle and back office platform for pricing, analyzing, and managing FX options. An end-to-end solution, it provides all the necessary tools, math models and independent market data for fast, accurate price discovery and revaluation of vanilla options and exotic multi-leg, multi-currency strategies.
The platform is licensed to over 350 clients worldwide, financial institutions and corporations, with thousands of users benefiting from its solutions.
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.
For any queries or additional information please contact:
Vice President – Public Relations
GFI Group Inc.
55 Water Street, 28th Floor
New York, NY 10041
Tel: (212) 968-2964
Mob: (646) 717-4379