Fenics upgrades Professional FX options tech

Source: Fenics

Fenics, a leading provider of FX options software, announced today the release of Fenics Professional 12.3, a new generation of its award-winning FX options software.

This major release applies cutting-edge quantitative models to greatly enhance FENICS' exotic math offering.

A Local Stochastic Volatility (LSV) pricing model within FENICS Exotics, complete with a calibration data feed, provides users with the tools to price complex exotic options accurately and with confidence. This release also brings full support for Target Accrual Redemption Forward (TARF) options throughout the FENICS Professional product.

Richard Brunt, Managing Director of FENICS said: "Our customers requested that we add an LSV model to our existing exotic package, and we are delighted to have delivered this. The feedback during our soft launch phase has been excellent, and we look forward to rolling out this new functionality to our wider client base."

Brunt added: "Our investment in providing cutting edge maths models and new option types is on-going and our models remain at the core of the FENICS Professional product."

John Crisp, Director of the Product Group at FENICS added: "FENICS has applied expert quantitative resource to building these models within the FENICS Professional solution. We are proud to be one of the first in the FX space to offer up-to-date calibration data as part of this service."

Calibration is a key part of an LSV model. Within FENICS Professional 12.3 customers can choose whether to use FENICS' calibration, their own, or compare the two. The addition of these complex analytics, along with this flexibility, gives FENICS users a clear, accurate solution for FX options pricing and the control required for risk management.

FENICS Professional is a suite of pricing, distribution, risk management, analytics and STP (straight-through processing) components allowing customers to control, monitor and oversee a comprehensive range of FX option trading and lifecycle management from one single interface.

FENICS is licensed to over 350 clients worldwide, financial institutions and corporations, with thousands of users benefiting from its solutions. 

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