GFI Group Inc. announced today that Luzerner Kantonalbank is deploying FENICS Professional which enables the bank access to FENICS Structuring and FENICS Enterprise.
A GFI FENICS client since 2006, Luzerner Kantonalbank is extending its agreement for a further 3 years and will continue to use GFI Professional for FX options price discovery, portfolio management and automated downstream STP (straight-through processing) of the bank’s back office system for bank wide risk management.
Daniel W. Bommer, Director of Forex Derivatives at Luzerner Kantonalbank, said: “We have been working with FENICS for a number of years and we are very pleased with the product. It is a powerful and reliable tool which supports our dealing portfolio management” and added, “In addition to the already proven high functionalities of the system, we are very pleased with the new functionality that we enjoy as part of the FENICS Professional agreement.”
Richard Brunt, Global Head of GFI FENICS stated: “We are very happy Luzerner Kantonalbank has taken our relationship to the next level and invested in FENICS Professional as the system of choice to develop its expanding FX option business into the future” and added, “Our business continues to grow strongly in the Swiss kantonal banking area where we are attracting new clients and where existing clients are expanding their usage of FENICS.”
Founded in 1850, the Luzerner Kantonalbank is a traditional full-service bank with all of its liabilities covered by a state guarantee.
FENICS Professional is a suite of pricing, trading, risk management and STP components allowing customers to control, monitor and oversee every aspect of FX option trading and lifecycle management from a single interface. FENICS Enterprise is a suite of server components, able to handle the entire lifecycle of FX derivative instruments. This open platform solution leverages clients’ existing infrastructure to deliver a variety of bespoke, mission critical, enterprise-wide solutions.
GFI FENICS has been the leading provider of FX derivatives software since 1987, with its products licensed to over 350 client firms worldwide, financial institutions and corporations, with thousands of users benefiting from its solutions.