Source: GFI Group
Kanji Pitamber & Co, an Indian financial services group, has licensed GFI FENICS FX, a pricing and risk management system for foreign exchange options from GFI Group, Inc. ('GFIG' on Nasdaq). The group will use the system in its Mumbai head office.
Unnati Parekh, head of currency options at Kanji Pitamber said, "The flexible way in which GFI FENICS FX enables us to analyze Rupee foreign exchange options is key to enhancing our brokerage operation. We have selected GFI FENICS FX on the basis of its capability to provide this analysis and to also feed in and control our own volatility data".
"The Indian FX options market remains robust in 2009 and GFI Group is delighted that Kanji Pitamber has selected GFI's pricing and analytics platform." said Rinta Mukkam, GFI FENICS representative for South East Asia. "We have again shown how GFI FENICS can create efficiencies for our customers through our open and customisable platform, coupled with an easy to use interface "
Kanji signed the licence in January and it covers the FENICS FX pricing and analytics modules.