One of the leading Taiwanese commercial banks, Yuanta, is the latest institution to connect to FENICS, according to a company announcement. FENICS Gateway is one of the leading FX options software solutions. In addition, the Taiwanese bank extended its FENICS Professional license.
The FENICS Professional service integrates within itself pricing, distribution and analytics allowing for the management of an FX option lifecycle through the platform.
The FENICS Gateway software messaging hub allows professional clients to access a variety of multi-bank and single bank transactional venues for trading FX options. The solution operates with a Straight Through Processing (STP) model and allows connectivity of post-trade details between the counterparties in the transaction.
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FENICS Gateway supports STP for FX options, precious metals, NDFs, spot and forward trades.
“We are delighted that Yuanta Bank has extended its relationship with FENICS, and joined the growing community using FENICS Gateway for post-trade messaging,” said Richard Brunt, Managing Director of FENICS.
Mr. Brunt elaborated on the product offering explaining, “FENICS Gateway was soft launched at the turn of the year and has already processed in excess of a thousand trades a month between execution venues and FENICS clients. We expect the volumes to continue to grow as more clients and publishers come on board.”
FENICS is currently used on over 350 client sites worldwide.