Major Chinese Bank deploys FENICS® Middleware Solution
New York, September 11, 2013 – FENICS®, a leading provider of FX options software, announced today that Bank of Communications, a leading global financial services group based in Shanghai, has licensed FENICS ProfessionalTM, a pricing and risk management system for foreign exchange options. The bank will be able to deploy FENICS Professional globally with improved system integration.
Richard Brunt, Managing Director of FENICS said, “We are very pleased Bank of Communications has recently extended their subscription to FENICS Professional and are also now benefitting from a more sophisticated and integrated front to back FX Options workflow as a result of close collaboration with the FENICS Professional Services team. Our continued investment in technology coupled with an industry leading consulting division means we have been very well placed to assist our clients with their integration requirements no matter the level of complexity involved.”
Jeffrey Jin at Bank of Communications said, “We have found that the flexibility in analysing our positions is key to enhancing operations. We have selected FENICS Professional on the basis of its ability to provide this analysis and to also to connect to our back office system seamlessly, making our business more efficient”
Bank of Communications has been a customer of FENICS since 2009.
Founded in 1908, Bank of Communications (BOCOM) is one of the four oldest banks in China and one of the first note-issuing banks in China. On April 1st 1987, as the pioneer of China’s financial revolution, BOCOM became China’s first state-owned shareholding commercial bank. BOCOM is headquartered in Shanghai.
FENICS Professional is a suite of pricing, distribution, risk management, analytics 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.
FENICS is licensed to over 350 clients worldwide, financial institutions and corporations, with thousands of users benefiting from its solutions.
About FENICS www.FENICS.com
FENICS® Software Limited is a wholly owned subsidiary of GFI Group Inc., a leading provider of wholesale brokerage services and trading support products in a multitude of global cash and derivatives markets.
FENICS has more than 25 years’ experience of providing intuitive price discovery software to currency derivative markets. Its ability to deliver powerful and accurate price discovery and revaluation is enhanced by GFI’s presence as an important independent intermediary in OTC markets. FENICS’ leading foreign exchange option pricing and analysis tool is licensed for use at over 350 client sites worldwide. FENICS operates from offices in London, New York, Shanghai, Singapore, Hong Kong, Tokyo and Sydney.
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.
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