Luzerner Kantonalbank also agreed to continue to use GFI Professional for FX options price discovery, portfolio management and automated downstream STP (straight-through processing) of its back office system for bank wide risk management.
Fenics Professional is a suite of pricing, trading, risk management and STP components allowing customers to control, monitor and oversee every aspect of FX option trading and lifecycle management from a single interface.
Fenics Enterprise is a suite of server components, able to handle the entire lifecycle of FX derivative instruments. This open platform solution leverages clients’ existing infrastructure to deliver a variety of bespoke, mission critical, enterprise-wide solutions.
Daniel Bommer, director of forex derivatives at Luzerner Kantonalbank, said: “We have been working with Fenics for a number of years and we are very pleased with the product. It is a powerful and reliable tool which supports our dealing portfolio management. In addition to the already proven high functionalities of the system, we are very pleased with the new functionality that we enjoy as part of the Fenics Professional agreement.”
Richard Brunt, global head of GFI Fenicssm, said: “We are very happy Luzerner Kantonalbank 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. Our business continues to grow strongly in the Swiss kantonal banking area where we are attracting new clients and where existing clients are expanding their usage of Fenics.”
New York-based GFI Group is a provider of wholesale brokerage, electronic execution and trading support products for global financial markets.
