Glory Sky Group licenses GFI FX system

Source: GFI Group

Glory Sky Group, a leading Hong Kong brokerage house, has licensed Fenics Professional, a pricing and risk management system for foreign exchange and commodity options from GFI Group (NASDAQ: "GFIG) to help manage its rapidly expanding FX and commodities derivatives business.

The agreement includes FENICS Pricing, Analysis, Structuring Module and Exotic Maths components. FENICS Professional allows Glory Sky to expand its business scope in the FX and commodity option trading and client distribution spaces.

Alfred Yeung, Chairman of Glory Sky Group said, "To meet our expanding FX and commodities derivatives business we need a reliable solution, so we chose FENICS Professional. The FENICS Professional package enhances our pricing and risk management capability and also helps our real-time analysis for both vanilla and exotics options." Mr. Yeung added "GFI FENICS also provides an enterprise edition, FENICS EnterpriseTM, which will ultimately provide a seamless solution to distribute prices to all our clients, as we continue to expand our business."

"GFI is delighted to be working with Glory Sky Group and that they have chosen to deploy FENICS Professional in Hong Kong" said Owen Kam, Head of GFI FENICS Sales for North Asia. "We are looking to further expand our footprint in Hong Kong to more clients from different sectors, such as commodities and we continue to be committed to providing scalable and customized solutions to fit our clients' needs" he further commented.

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