"FENICS FX provides an effective platform for sharing our FX options data with an active user base and helps our clients communicate more efficiently with our sales team, ultimately enabling them to more easily price options," said Mark Mullet, Head of FX Options Trading for Bank of America.
Used at more than 600 sites worldwide, FENICS FX is a front, middle and back office platform for pricing, analyzing and managing FX option positions. FENICS FX 9.1, released this month, has many calculation improvements including European Barrier options and enhanced volatility interpolations. FENICS FX 9.1 also includes new sales and risk functions such as margin fields and improved reporting of distributed Greeks.
Scott Fitzpatrick, Global Head of Sales at GFI said, "We're delighted to partner with a firm of Bank of America's calibre to provide its FX options information to our clients. Our objective continues to be based on providing better technology and a better decision support environment for our clients. This is another good step in that direction."