Dutch bank GarantiBank International has selected GFI’s FX options pricing and risk management software, Fenics FX, for the management and revaluation of its forex options positions. Under the agreement, the bank has taken a three year licence for the software.
Atilla Burmali, senior system analyst at GarantiBank, explains: “The bank needed better security and transparency for revaluing and managing its forex options positions. We can perform instant revaluations ourselves, using Fenics FX, rather than having to use an external supplier with delayed revaluation, which is very important in volatile markets. With Fenics FX, we can also control the market data that we use – a great improvement on the bank’s previous set-up.”
GarantiBank has licensed Fenics FX’s Pricing, Analysis, Security Management Module, Live Rates and Exotics Maths. The bank is also using the Fenics STP connection for integration of FX options positions from its corporate banking and risk management system. The bank signed for Fenics FX in July and went live that month.
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