The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

BNY Mellon Picks GFI Fenics FX for Pricing Services in NYC, London and Tokyo

Bank of New York Mellon has signed a three-year license for GFI Fenics FX, pricing and risk management software from GFI Group, for use in its offices in New York, London and Tokyo. The banking and asset management firm says it will primarily use GFI Fenics FX for central pricing and risk management and global price distribution.

It will also use Fenics FX’s STP module for the processing of trade detail, rate and revaluation information between GFI Fenics FX and other systems in order to attempt to achieve operational efficiencies and streamline workflows. Bank of New York Mellon signed the license at the end of June and was live soon after with modules including Fenics FX Pricing, Analytics, Structuring, STP, Security and Live Rates.

“GFI Fenics FX enables us to integrate multiple internal and external rate sources, giving the bank confidence it is pricing and revaluing trades and positions with the most transparent and accurate information available,” says Michael Hyland, Bank of New York Mellon’s managing director of global markets. “Also, Fenics FX’s Structuring Module helps the bank’s sales team to design, price, and distribute complicated structures with ease.”

Related content

WEBINAR

Recorded Webinar: Evolution of data management for the buy-side 2021

The buy-side faced a barrage of regulation in 2020 and is now under pressure to make post-Brexit adjustments and complete LIBOR transition by the end of 2021. To ensure compliance and ease the burden of in-house data management, many firms turned to outsourcing and managed services. But there is more to come, as buy-side firms...

BLOG

Lack of Equivalence Post Brexit Raises Costly Data Management Concerns

The UK has finally left the European Union. A trade deal was wrung out at the eleventh hour, allowing the two sides to trade with zero tariffs and quotas, but the financial services industry has been left hanging – with talk of an MoU around the regulation of financial services being reached by March 2021...

EVENT

Data Management Summit London

The Data Management Summit Virtual explores how financial institutions are shifting from defensive to offensive data management strategies, to improve operational efficiency and revenue enhancing opportunities. We’ll be putting the business lens on data and deep diving into the data management capabilities needed to deliver on business outcomes.

GUIDE

Entity Data Management Handbook – Seventh Edition

Sourcing entity data and ensuring efficient and effective entity data management is a challenge for many financial institutions as volumes of data rise, more regulations require entity data in reporting, and the fight again financial crime is escalated by bad actors using increasingly sophisticated techniques to attack processes and systems. That said, based on best...