Agreement will embed FENICS® pricing module within 360T’s TEX trading platform
New York, Frankfurt – FENICS® Software Ltd, a GFI Group Inc. (NYSE:”GFIG”) company, announced today that it has signed an agreement with 360 Treasury Systems AG “360T” to embed the FENICS FX Options Pricing engine (FENICS ePricer) into 360T’s TEX multi-dealer trading system.
FENICS ePricer provides indicative price discovery across a wide range of currency pairs, and has been configured to support the strategies and workflows within the 360T TEX platform – including one and two-legged vanilla strategies, supporting both live (without hedge) and delta-hedged requests. Prices generated by FENICS ePricer flow seamlessly into 360T’s TEX trading platform which can subsequently send RFQ’s to the 360T liquidity pool. This incorporated solution also includes all benefits of a multi-bank platform like the documentation of best price execution and a fully straight-through-processing (STP).
Richard Brunt, Managing Director FENICS, said: “We are delighted to have reached this agreement with 360T and to support the TEX platform with the FENICS ePricer, the partnership will introduce FENICS technology to a wider user base in client segments such as corporate treasuries, buy side institutions and smaller regional financial institutions.”
Carlo Koelzer, CEO at 360T, added: “The inclusion of the FENICS Options pricer within our TEX service will give our clients in addition to our powerful services, access to the market leading indicative pricing system and will encourage flows through our TEX platform. We have rolled the FENICS ePricer to a cross section of our client base and the feedback has been extremely encouraging, and we look forward to a wider rollout in the coming month.”
About 360T Group
360T is an independent and globally-established trading venue. Its fast growth confirms the company’s status as a provider of web-based trading technology for over-the-counter (OTC) instruments, integration solutions and related services. Since its inception in 2000, the company has developed and maintained a state-of-the-art multi-bank portal for foreign exchange and money market products and FX/interest rate derivatives.
360T’s secure global transaction network enables clients to trade with greater transparency and enhanced control at every stage of the trading lifecycle. The company also offers licensing of a hosted white labeled trading technology between a scalable group of price-takers and either proprietary price providers or a rich choice of back-to-back liquidity sources. 360T´s buy-side clients are national and multinational corporate treasuries, institutional clients, broker/dealers and banks.
Headquartered in Frankfurt am Main, Germany, 360T maintains subsidiaries in New York (360 Trading Networks Inc), Singapore (360T Asia Pacific Pte. Ltd.), India (ThreeSixty Trading Networks (India) Pvt Ltd) and Dubai (360 Trading Networks LLC).
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 2,100 people with additional offices in London, Paris, Nyon, Hong Kong, Seoul, Tokyo, Singapore, Sydney, Cape Town, Santiago, Bogota, Buenos Aires, Dubai, Dublin, Tel Aviv, 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 GFISM, GFInet®, CreditMatch®, GFI ForexMatch®, EnergyMatch®, FENICS®, Starsupply®, Amerex®, Trayport® and Kyte®.
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