FENICS®, a leading provider of FX options software, announced today that TTT MoneyCorp Ltd "MoneyCorp", the UK's leading independent foreign currency exchange broker, has licensed FENICS ProfessionalTM, a FX derivatives pricing and risk management system, to support the expanding range of foreign exchange products and services offered to its clients.
Powered by FENICS Professional, Moneycorp has deployed an integrated solution for FX option risk valuation and life cycle management, seamlessly embedded into MoneyCorp's new FOX technology platform.
Henry McKeon, Chief Information Officer at MoneyCorp said "Central to MoneyCorp's philosophy is to develop a service anticipating the changing needs of the market and of our customers. We chose FENICS because of their 27 years of experience and proven track record in the FX derivatives space", and added, "We have been able to build an innovative platform supported by FENICS technology. This reflects our pioneering, creative approach to challenges and provides our clients with a level of service that reflects our reputation for excellence."
Richard Brunt, Managing Director of FENICS said "We are delighted Moneycorp has chosen to use our software to support and add scalability to its FX options operations. The Money Services industry is a growing market for us, as participants understand the benefits of partnering with an institution that has vast experience in the complex FX derivatives space."
Brunt added, "MoneyCorp has been able to leverage the openness, ease of integration and high degree of customisation achievable with FENICS, to deliver a highly flexible, transparent and granular risk reporting and FX option valuation solution."
FENICS offers technology that delivers a scalable, front to back solution to control, monitor and oversee every aspect of FX option trading and lifecycle management.
FENICS is used at over 350 client sites worldwide with thousands of end users from all across the financial markets benefiting from its solutions.