BANK SINOPAC CHOOSES FENICS FX AS ITS STANDARD FX OPTION PRICING AND RISK MANAGEMENT SYSTEM

Singapore, January 27th 2004 - GFI Group Inc. ("GFI") today announced an agreement with Bank Sinopac, one of Taiwan's major financial institutions, to install FENICS FX as its benchmark pricing, analytical and revaluation system for the FX options markets.

Sinopac will also take various additional software tools from GFI, allowing the bank to customise FENICS FX specifically for their own requirements and integrate it within its own middle and back office systems.

Henry Chang, Head of Trading Bank Sinopac said: "We have chosen FENICS FX to be our official system for pricing and analysing FX options because it is more than just an application; it is a robust trading and development environment. While our traders will benefit from its exotic maths pricing, the quantitative specialists will have the flexibility to implement their own maths models into FENICS FX for their own requirements. In addition GFI's straight through processing capability allows FENICS FX to be linked to our system of record."

Marc Field, Head of Sales Asia said: "We have seen a considerable growth in interest amongst new and existing clients in South East Asia over the last 18 months for front office FX options pricing and analytical tools that can also be fully integrated within their business processes. The straight through processing capability available with FENICS FX allows them to do this, transferring trade data in real-time to a bank's middle or back offices and providing the infrastructure for the reconciliation of trades."

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