GFInet is to launch a new online foreign exchange option trading system over the Radianz extranet.
GFInet, a subsidiary of interdealer broker GFI, offers a variety of online trading, data and analytics services for the financial industry. The new trading system is designed to enables wholesale bank traders to buy or sell foreign exchange options online.
RadianzNet is being used, initially, to provide the secure Internet-Protocol (IP)-based connectivity needed to link GFInet's clients in Europe. Later, RadianzNet will enable GFInet to link buyers and sellers worldwide.
"GFInet will roll out multiple new trading and data services throughout the coming year. This agreement allows us to quickly and efficiently launch because many of our target customers are connected to RadianzNet," says Russ Lewis, CIO at GFInet.
The GFInet contract is Radianz's second major deal in the foreign-exchange segment of the financial industry, following an earlier contract with the Atriax multi-bank currency trading portal. Myron Tataryn, Radianz's head of sales for Europe says the company, established as a joint venture by Reuters and Equant, is working to add customers in equities and fixed-income segments.