HVB selects ICYFX to support its growing FX options business in Slovakia.

HVB Slovakia, named "Best FX house in Slovakia" from the international magazine Global Finance this year, offers a wide range of high qualified banking services and has significantly enlarged its network, activities and client base in 2003.

The Treasury FX traders&sales have chosen ICYFX in early 2004, to emphasize and boost the FX options business of the bank.

HVB actively markets FX options structures such as Cylinder Option, Participating Option, Ratio-Spread Option and others. The structuring, pricing and marketing of these structures will be supported by ICYFX, with the aim for the bank to further develop the range of FX strategies available for corporate customers.

"We have decided to implement ICYFX, as it was the most appropriate tool for our business" says Peter Augustin, HVB head of FX sales. "We are confident that ICYFX will help us increase our business and we believe its wide range of relevant features will add to the effectiveness of our marketing and sales of FX options."

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