Currenex has struck a deal with GFInet to incorporate the Fenics currency options pricing system into its FXtrades Web-based trading service. Users of the service will be able to access options pricing and analysis data generated by Fenics from within FXtrades. For an additional fee, they will also be able to access Fenics’ exotic pricing tools, mathematical models and volatility datafeeds.
“Fenics is a natural extension to the several content and analysis features available to Currenex members today,” says Lori Mirek, president and chief executive of Currenex. “We are pleased to offer our members the ability to price and analyse currency option strategies without leaving the FXtrades site.”
Fenics dates back to 1986 and is generally viewed as the industry standard for pricing FX options. The software was recently bought by GFInet, the online brokerage company, for incorporation within its own online FX options interbank brokerage service (see page 39).
Meanwhile, Currenex has just announced a deal with IFS to provide an application program interface (API) between IFS’ MarginMan GATE application and Currenex’s Internet service, FXtrades, to enable users to conduct automated collateralised FX trading.