New York hedge fund chooses GFI market-leading system for FX Options
New York, January 3, 2012 – New York’s Hap Capital has licensed FENICS Professional™ Pricing and Analytics Tools from GFI Group, Inc. (NYSE: GFIG) for use on Hap Capital’s FX Options Desk in New York City.
Andrew Dexter, Head of FX Options at Hap Capital said, “After evaluating numerous systems for FX Options that cover pricing, risk management, and transaction processing, we decided that GFI FENICSSM was clearly the best choice. Their platform, FENICS Professional, provides us with the accuracy, ease of use and scalability we require to support and grow our business”, and added, ” FENICS’ customer support team provides fantastic training and ongoing support to help us get the most out of the platform and be more efficient.”.
“We are delighted to welcome HAP Capital as a client and to be able to provide them with the tools they need to continue developing their FX options business. Our business has grown significantly during the last few years as we have added new clients from every market segment” said Richard Brunt, Global Head of FENICS & Market Data Services at GFI.
HAP Capital acts as a liquidity and efficiency provider to the marketplace and differentiates itself from most other firms in the space in its internally-developed quantitative approach to its trading strategy and business model.
FENICS Professional 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.
GFI Group Inc. (NYSE: “GFIG”) is a leading provider of wholesale brokerage services, clearing services, 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 2,200 people with additional offices in London, Paris, Nyon, Hong Kong, Seoul, Tokyo, Singapore, Sydney, Cape Town, Santiago, Bogota, Dubai, Dublin, Tel Aviv, Calgary, Los Angeles and Sugar Land (TX). GFI Group Inc. provides services and products to over 2,600 institutional clients, including leading investment and commercial banks, corporations, insurance companies and hedge funds. Its brands include GFI(SM), GFInet®, CreditMatch®, GFI ForexMatch®, EnergyMatch®, FENICS®, Starsupply®, Amerex®, Trayport® and Kyte®.
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 GFI Group Inc. (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; uncertainties relating to litigation and the Company’s ability to assess and integrate acquisition prospects. 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