Award winning FX Options Platform expands into the sales arena
New York, October 4, 2010 – GFI Group announced today the release of FENICS Professional™ version 12.1, a new generation of the award winning FX Option platform which brings together pricing, distribution, bilateral trading and risk management and analytics capabilities for FX options.
FENICS Professional 12.1 introduces FENICS® Sales, functionality that offers a complete workflow solution for sales professionals and traders. The new release includes the ability for traders to spread their volatility surface based upon the counterparty profile to ensure sales professionals have desktop access to the correct prices. Sales and traders can communicate through FENICS chat, and confirm prices via internal RFQ. Term sheet functionality allows sales users to produce multi language term sheets, with full graphing capabilities.
FENICS Professional 12.1 also allows the generation and web deployment of retail products, such as Dual Currency Investments, direct to customer or branch networks.
Richard Brunt, Global Head of GFI FENICSSm said: “This latest release of FENICS Professional has been greatly anticipated by our existing clients and prospects alike.”
The new sales functionality is a natural extension of GFI FENICS’ strategy to provide a market leading workflow solution for FX Options. New functionality including the introduction of multi-language term sheets, internal RFQ, chat and volatility spreading by counterparty enables its traditional client base of traders to communicate and execute with their internal sales network locally, regionally and globally. Minimizing the need for multiple trade entry points, telephone calls, and other manual processes will make both traders and sales people more productive.
Brunt added “What is very exciting to our clients is that all of this functionality comes as standard within FENICS Professional and is not sold as an additional service. This makes FENICS Professional extremely cost effective and scalable”.
GFI FENICS has worked closely with customers to make further improvements across all product components, including its portfolio management component, FENICS Portfolio, as well as FENICS Pricing and FENICS Security
GFI FENICS has been providing leading FX derivatives software since 1987. Its products are licensed to over 350 institutions worldwide with thousands of users benefiting from its solutions. Clients include banks, multinational corporations, brokers, and hedge funds.
About GFI Group Inc. www.GFIgroup.com
GFI Group Inc. (NASDAQ “GFIG”) is a leading provider of wholesale brokerage, electronic execution and trading support products for global financial markets. GFI Group Inc. provides brokerage services, market data, trading platform and analytics software products to institutional clients in markets for a range of fixed income, financial, equity and commodity instruments.
Fenics Software Limited is a subsidiary of GFI Group Inc.
Headquartered in New York, GFI was founded in 1987 and employs more than 1,800 people with additional offices in London, Paris, Hong Kong, Seoul, Tokyo, Singapore, Sydney, Cape Town, Santiago, Dubai, Dublin, Tel Aviv, Calgary, Los Angeles, Englewood (NJ) and Sugar Land (TX). GFI Group Inc. provides services and products to over 2,400 institutional clients, including leading investment and commercial banks, corporations, insurance companies and hedge funds. Its brands include GFISM, GFInet®, CreditMatch®, GFI ForexMatch®, EnergyMatch®, FENICS®, Starsupply®, Amerex®, Trayport®, and Kyte®.
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