Whilst retail FX trading is notable by its absence in China, the banking sector in the nation’s financial capital, Shanghai, is something of a powerhouse and home to large scale, domestic institutional firms.
One such institution is the Bank of Communications, which today deployed its new middleware solution provided by FENICS, which is owned by interdealer broker GFI Group, in order to enhance FX options analysis, encompassing a pricing and risk management system for foreign exchange options. The bank will be able to deploy FENICS Professional globally with improved system integration.
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Richard Brunt, Managing Director of FENICS, made a corporate statement today that the company is “very pleased Bank of Communications has recently extended their subscription to FENICS Professional, and are also now benefitting from a more sophisticated and integrated front to back FX Options workflow, as a result of close collaboration with the FENICS Professional Services team.”
“Our continued investment in technology, coupled with an industry leading consulting division, means we have been very well placed to assist our clients with their integration requirements, no matter the level of complexity involved.”
Jeffrey Jin at Bank of Communications publicly stated that: “We have found that the flexibility in analyzing our positions, is key to enhancing operations. We have selected FENICS Professional on the basis of its ability to provide this analysis, and to also connect to our back office system seamlessly, making our business more efficient”