GFI Group (Nasdaq: GFIG) has deployed Fenics FX a platform for price distribution, STP of transactional workflow and risk management to Raiffeisen Bank Polska SA.
Raiffeisen Bank Polska, a subsidiary of Raiffeisen International, is a leading financial corporation in Central and Eastern Europe. The bank is using FENICS FX's STP module for straight-through processing of trade detail, rate and revaluation information between GFI FENICS FX and other systems for improved operational efficiencies and to streamline workflows.
"GFI FENICS FX has been integrated with Temenos T24 to ensure our customers receive the most accurate position valuations and remove operational risk from our internal workflow" said Miroslaw Winiarczyk, Head of the Treasury Department at Raiffeisen Bank. "FENICS "FX's Structuring Module helps the bank's sales team to design, price, and distribute sophisticated structures with ease."
"GFI is delighted to add Raiffeisen Bank Polska SA to the FENICS client list", said Richard Brunt, global head of GFI FENICS. "This is a great example of a bank deploying FENICS regionally, using all aspects of FENICS FX". Brunt added " What makes this deal significant is the level of work undertaken by GFI's Professional Services Group in conjunction with the Raiffeisen team to customize FENICS to fully integrate the system into the Raiffeisen workflow on an enterprise level".
Raiffeisen Bank Polska SA completed extensive testing and regional deployment of FENICS FX in the first quarter of 2009.