GFI Group has launched an online vanilla and exotic FX options pricing service targeted at corporates and banks that are new to currency options as well as established traders.
The subscription service, called Fenics FX Online, provides two levels of pricing for new market participants - price sheets list standard option details, for an instant insight into the market, while pricing wizards take users step by step through the pricing of vanilla options, introducing them to advanced FX option pricing.
At the same time the system provides advanced prising 'applets' for those who require the full flexibility to price a comprehensive set of exotic options and vanilla strategies.
Nicola Williamson, product manager, Fenics FX Online, GFI, says: "There is increasing need for accessible, easy to use FX option pricers and it comes at a time when derivatives in general are under scrutiny. Users need to be confident in the service they are using for pricing activities."
GFI says the online service uses the same pricing models as those embedded in its Fenics FX currency option pricing platform. The service also uses real-time interbank volatility data fed directly from GFI's global brokerage desks, for 20 of the world's most traded currency pairs, including at-the-money-forwards, 25 and ten delta volatility rates.