Bank Leumi Le-Israel of Tel Aviv has extended its license for GFI Group’s pricing and risk management software, GFI Fenics FX, to the latest version of the software, including two new models, the Structuring Module and the Exotic Math Module. The bank, which has been a GFI Fenics customer since 1995, decided to expand its coverage to support greater demands from the local market for risk management and mark to market pricing.
Guy Hanan, head of options at Bank Leumi Le-Israel, explains: “We have been using Fenics FX since 1995 and this was an ideal opportunity to continue our partnership for the next three years. Our business in Israel is growing strongly in both vanillas and exotics and Fenics FX gives us the confidence we need in our pricing, exotic risk management and mark to market revaluation.”
The new coverage includes pricing, analysis and STP/API to export data to its back office system.