US leading regional bank chooses GFI FENICSSM for FX Options business
New York, February 21, 2012 – GFI Group Inc. (NYSE: “GFIG”) announced today that Cleveland based KeyBank has upgraded its existing agreement with GFI FENICSSM to include the full suite of FENICS Professional™ Pricing and Analytic tools. In addition, KeyBank will expand the use of FENICS Professional to new users and locations.
KeyBank will utilise FENICS Professional for FX options price discovery, portfolio management and automated downstream STP (straight-through processing) of trades into its back office system. Moreover, the new agreement will also provide KeyBank’s traders and sales team access to the FENICS Professional’s Sales Module that will allow them to build, price, and communicate the details of complex FX Options structures with speed and efficiency.
Kevin Kruszenski, Managing Director and Manager of Foreign Exchange Trading at KeyBank said, “FENICS Professional provides us with the full suite of tools we need to support and grow our business. We are excited to expand our agreement with GFI FENICS and benefit from the new functionality provided with the FENICS Professional suite”.
Richard Brunt, Global Head of GFI FENICS & Market Data Services stated: “Our business continues to grow strongly in North America by adding new clients and expanding our relationships with existing clients. We are delighted that KeyBank has taken our relationship to the next level and invested in FENICS Professional as the system of choice to develop its expanding FX option business into the future”.
A client of GFI FENICS since 1997, KeyBank is extending its agreement for a further three years.
FENICS Professional is a suite of pricing, trading, risk management and STP (straight-through processing) components allowing customers to control, monitor and oversee a comprehensive range of FX option trading and lifecycle management from one single interface.
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.
FENICS Professional is provided by GFI FENICS, a part of GFI Group.
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.
GFI FENICS is a division of Fenics Software Limited. 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