GFI offers FX Options pricing to Hedge Fund

Photo: Adil Siddiqui

GFI Group a leading wholesale brokerage firm has licensed its award winning FENICS professional pricing software to HAP Capital, a New York based hedge fund.

FENICS was chosen amongst other platofrms to rpovide a cmpelte front to back soltuion for HAP capital quantitvare taders. FENICS Professional is a powerful front, middle and back office platform for pricing, analyzing, and managing FX options. An end-to-end solution, it provides all the necessary tools, math models and independent market data for fast, accurate price discovery and revaluation of vanilla options and exotic multi-leg, multi-currency strategies.

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HAP Capital acts as a liquidity and efficiency provider to the marketplace and differentiates itself from most other firms in the space in its internally-developed quantitative approach to its trading strategy and business model.

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Andrew Dexter, Head of FX Options at Hap Capital said, “After evaluating numerous systems for FX Options that cover pricing, risk management, and transaction processing, we decided that GFI FENICSSM was clearly the best choice. Their platform, FENICS Professional, provides us with the accuracy, ease of use and scalability we require to support and grow our business”, and added, ” FENICS’ customer support team provides fantastic training and ongoing support to help us get the most out of the platform and be more efficient.”.

Market volatility since the summer months has put pressure on prcie discopvery softwares, GFI’s FENICS has proven to be a robust platofrm for the buy side as the platform is licensed to over 350 clients worldwide, financial institutions and corporations, with thousands of users benefiting from its solutions.

Traditional FX brokers have been looking to expand their product foothold by introducing FX options, Alpari had tied up with FX Brideg as it saw potential in the retail options market.