Atilla Burmali, senior system analyst at GarantiBank said, ââThe bank needed better security and transparency for revaluing and managing its forex options positions. We can perform instant revaluations ourselves, using FENICS FX, rather than having to use an external supplier with delayed revaluation, which is very important in volatile markets. With FENICS FX, we can also control the market data that we use â a great improvement on the bankâs previous set-up.â
GarantiBank has licensed FENICS FXâs Pricing, Analysis, Security Management Module, Live Rates and Exotics Maths. The bank is also using the FENICS STP connection for integration of FX options positions from its corporate banking and risk management system.
GarantiBank signed for FENICS FX in July and went live that month.