Oct, 28 2013
FENICS® Releases Next Generation of Exotic Pricing Models Mon, 28 Oct 2013 11:13:35

Robust and transparent model backed by 25 years’ experience in FX options markets

New York, October 28, 2013 – FENICS®, a leading provider of FX options software, announced today the release of FENICS ProfessionalTM 12.3, a new generation of its award-winning FX options software. This major release applies cutting-edge quantitative models to greatly enhance FENICS’ exotic math offering. 

A Local Stochastic Volatility (LSV) pricing model within FENICS Exotics, complete with a calibration data feed, provides users with the tools to price complex exotic options accurately and with confidence. This release also brings full support for Target Accrual Redemption Forward (TARF) options throughout the FENICS Professional product.

Richard Brunt, Managing Director of FENICS said: “Our customers requested that we add an LSV model to our existing exotic package, and we are delighted to have delivered this. The feedback during our soft launch phase has been excellent, and we look forward to rolling out this new functionality to our wider client base.”

Brunt added: “Our investment in providing cutting edge maths models and new option types is on-going and our models remain at the core of the FENICS Professional product.”

John Crisp, Director of the Product Group at FENICS added: “FENICS has applied expert quantitative resource to building these models within the FENICS Professional solution. We are proud to be one of the first in the FX space to offer up-to-date calibration data as part of this service.”

Calibration is a key part of an LSV model. Within FENICS Professional 12.3 customers can choose whether to use FENICS’ calibration, their own, or compare the two. The addition of these complex analytics, along with this flexibility, gives FENICS users a clear, accurate solution for FX options pricing and the control required for risk management. 


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.

Forward-looking statement

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:
Patricia Gutierrez
Vice President – Public Relations
GFI Group Inc.
55 Water Street, 28th Floor
New York, NY 10041
Tel: (212) 968 2964
Mob: (646) 717 4379