GFI signs first white-label price discovery deal with ZKB

GFI signs first white-label price discovery deal with ZKB

Zurich Cantonal Bank (ZKB) is to offer a bank-branded version of GFI's Fenics FX Online options pricing technology to customers as part of its currency option trading service.

The deal with Switzerland's largest cantonal bank is the first such white-labelling agreement struck by the vendor. The bank will offer the Web-delivered service to local banks and corporate clients from Switzerland, Liechtenstein, Austria, Germany and Italy.

Daniel Corbaz, head of treasury, ZKB, says: "Our clients are demanding greater transparency and more service enhancing functionality, such as price discovery and position revaluation capability."

James Watson, global head of sales, GFI, reckons white-labelling agreements in price discovery and revaluation software are part of a large growth area with providers of advisory hedging services.

"These banks are committed to offering pricing and analytical services to their customers but understand there are many obstacles with developing and delivering their own solutions internally," he says. "White-labelling agreements...offer a very attractive and cost effective solution for banks, involving low upfront and ongoing maintenance costs, minimal time to market and peace of mind in the viability of the end result."

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