GFI Group (Nasdaq: 'GFIG') and Nittan Capital Asia (Nittan), a leading inter-dealer broker specializing in financial derivatives between banks and authorized financial institutions worldwide, have extended their agreement for the use by Nittan of GFI Fenics FX, a pricing and risk management system for foreign exchange options.
This extended agreement includes FENICS Exotic Math pricing tool.
FENICS Exotic Math enables Nittan to price a range of exotic option types with confidence by applying math models that are backed up by white papers and widely used in the market.
Denis Cheung, Managing Director at Nittan said, "We have used FENICS since 2006, and have confidence in using FENICS FX as a benchmark for FX options. The Exotic Math offering to our entire brokerage desk will allow us to price up not only Vanilla, but Exotic FX options effectively to our clients.
"We are very happy to prolong our relationship with Nittan" said Elliott Hann, Head of FENICS sales for GFI in the region "their continued use of GFI FENICS FX emphasizes the fact that FENICS FX is recognized as the preferred platform, that brokers and banks alike turn to for fast and accurate price discovery."