30 May 2015
Your browser is unable to support Flash files.

GFI Group renames Fenics Trader GFI Direct

14 January 2013  |  1215 views  |  0 Source: GFI Group

GFI Group Inc. (NYSE:GFIG) announced today that the Fenics FX options multi-bank trading platform "Fenics Trader" will now be operated by regulated subsidiaries of GFI Group Inc. and renamed GFI Direct.

This repositioning of the Request for Quote "RFQ" platform for FX options responds to the requirements of the new regulatory environment introduced by the Dodd-Frank Wall Street Reform and Consumer Protection Act and the regulations issued by the CFTC.

Paul Millward, Head of FX E-Commerce at GFI Group said: "We are delighted to be taking responsibility for building on the success of FENICS Trader under the GFI Direct brand. Our GFI Direct customers will continue to receive the high level of service that they currently receive from FENICSSM. In addition, we will develop the GFI Direct product as a key part of GFI's FX ecommerce strategy".

Richard Brunt, Managing Director of FENICS, explained the changes: "We are making these changes in response to US regulations enacted as part of the Dodd Frank Act. This transition will not inconvenience our clients or our liquidity providers with no change to their existing workflow", Brunt continued: "GFI Direct will be available as a trading venue via the FENICS ProfessionalSM desktop, with auto population of order requests to GFI Direct and STP of post trade details for risk management and downstream processing".

FENICS Trader was launched in February 2011.FENICS Trader is a single point of access to multi-bank liquidity for foreign exchange options. It facilitates independent FX options price discovery, offering a "many-to-many" venue for bilateral trading and execution. 

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Related blogs

Create a blog about this story (membership required)

Related company news

 

Top topics

Most viewed Most shared
Google unveils Android Pay
5757 views comments | 24 tweets | 27 linkedin
CBA to test Ripple for intra-bank transfer...
5418 views comments | 25 tweets | 21 linkedin
Anti-Money Laundering From False Positives...
5192 views 0 | 1 tweets | 1 linkedin
eBay and Village Capital run accelerator f...
5097 views comments | 10 tweets | 4 linkedin
Visa Europe opens innovation hub in Israel
5086 views comments | 19 tweets | 9 linkedin

Featured job

to £100K base, 200K ote, stock options, benefits
London, UK

Find your next job