Bank of New York Mellon, an asset management and securities services company, has signed a three-year license contract with GFI Group Inc to implement its pricing and risk management software GFI FENICS FX.
The bank applies FENICS FX Pricing, Analytics, Structuring, straight-through processing (STP), Security and Live Rates modules to accomplish better central pricing, risk management and global price distribution in New York, London and Tokyo.
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, managing director of global markets, Bank of New York Mellon. Also, FENICS FXs Structuring Module helps the banks sales team to design, price, and distribute complicated structures with ease.
GFI is delighted to add Bank of New York Mellon to the GFI FENICS client list, says Richard Brunt, global head of GFI FENICS. This is a great example of a bank with global reach deploying GFI FENICS FX to its full effect.
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