GFI Group (NYSE: "GFIG") announced today that Cleveland based KeyBank has upgraded its existing agreement with GFI Fenics to include the full suite of Fenics Professional Pricing and Analytic tools.
In addition, KeyBank will expand the use of FENICS Professional to new users and locations.
KeyBank will utilise FENICS Professional for FX options price discovery, portfolio management and automated downstream STP (straight-through processing) of trades into its back office system. Moreover, the new agreement will also provide KeyBank's traders and sales team access to the FENICS Professional's Sales Module that will allow them to build, price, and communicate the details of complex FX Options structures with speed and efficiency.
Kevin Kruszenski, Managing Director and Manager of Foreign Exchange Trading at KeyBank said, "FENICS Professional provides us with the full suite of tools we need to support and grow our business. We are excited to expand our agreement with GFI FENICS and benefit from the new functionality provided with the FENICS Professional suite".
Richard Brunt, Global Head of GFI FENICS & Market Data Services stated: "Our business continues to grow strongly in North America by adding new clients and expanding our relationships with existing clients. We are delighted that KeyBank has taken our relationship to the next level and invested in FENICS Professional as the system of choice to develop its expanding FX option business into the future".
A client of GFI FENICS since 1997, KeyBank is extending its agreement for a further three years.