Luzerner Kantonalbank upgrades to GFI's Fenics Professional
22 February 2010 | 2406 views | 0
Source: GFI Group
GFI Group Inc. (NASDAQ: "GFIG") announced today that Luzerner Kantonalbank is deploying FENICS ProfessionalTM which enables the bank access to FENICS® Structuring and FENICS EnterpriseTM.
A GFI FENICSSM client since 2006, Luzerner Kantonalbank is extending its agreement for a further 3 years and will continue to use GFI ProfessionalTM for FX options price discovery, portfolio management and automated downstream STP (straight-through processing) of the bank's back office system for bank wide risk management.
Daniel W. Bommer, Director of Forex Derivatives at Luzerner Kantonalbank, said: "We have been working with FENICS® for a number of years and we are very pleased with the product. It is a powerful and reliable tool which supports our dealing portfolio management" and added, "In addition to the already proven high functionalities of the system, we are very pleased with the new functionality that we enjoy as part of the FENICS ProfessionalTM agreement."
Richard Brunt, Global Head of GFI FENICSSM stated: "We are very happy Luzerner Kantonalbank has taken our relationship to the next level and invested in FENICS ProfessionalTM as the system of choice to develop its expanding FX option business into the future" and added, "Our business continues to grow strongly in the Swiss kantonal banking area where we are attracting new clients and where existing clients are expanding their usage of FENICS®."