Fenics, a provider of FX options software, reports that Yuanta Bank, a Taiwanese commercial bank, has connected to Fenics Gateway and also extended its Fenics Professional license.
Fenics Gateway is a hosted messaging hub connecting multibank and single bank transactional venues to FENICS Professional clients, according to a company statement.
“It allows STP [straight through processing] connectivity of post-trade details both between counterparties, and straight into the client’s Fenics database for risk management and onward distribution to trade repositories via third parties such as Traiana [a provider of market infrastructure for post-trade processing and risk management across asset classes],” according to Fenics. The Fenics Gateway supports STP for FX options, precious metals, non-deliverable forwards futures contracts, spot and forward trades, officials add.
“Fenics Gateway was soft launched at the turn of the year and has already processed in excess of a thousand trades a month between execution venues and Fenics clients,” Richard Brunt, managing director of Fenics, says in the vendor’s statement. “We expect the volumes to continue to grow as more clients and publishers come on board.”
Fenics is a wholly owned subsidiary of GFI Group Inc., a provider of wholesale brokerage services. Its software is used at over 350 client sites worldwide, the company notes.
In addition to the Fenics offerings, GFI provides trading technology and support services for over-the-counter and listed markets. The businesses for these services are playing a role in the competing offers for GFI.
Earlier this month, interdealer broker BGC Partners announced that it wants to acquire rival GFI Group via a direct appeal to shareholders that is competing against CME Group’s two-step bid for GFI Group, launched in July.
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