ABN Amro, Dresdner Kleinwort Benson and Lehman Brothers have joined the www.fenics.com strategic partnership, which was formed by four founding bank partners and Fenics Software in May. The Internet-based FX options pricing and analysis service went live on 10 July.
The alliance includes founding members Bank of America, Credit Suisse First Boston, Société Générale and UBS Warburg. Each of the participating banks provide the end user community with options pricing, volatilities and analysis. The service is aimed at corporates, smaller banks and financial institutions.
The seven banks will provide near real-time quotes for customers who access Fenics online via a monthly subscription. End users will be able to price and analyse a full range of currency derivatives, including both vanilla and exotic options, across a large number of currencies using the traditional Fenics pricing products and information provided by the alliance. Eventually, the alliance will introduce an online trade execution facility.
In addition to the new partner banks, Fenics has also announced agreements with two market data and analysis companies, which will provide content from Q3. 4Cast will provide up-to-the minute market analysis and data, while International Financing Review (IFR), part of Thomson Financial, will provide real-time 24-hour FX and economic news commentary through the Forex Watch service. The Forex Watch add-on module will provide technical analysis of spot and volatility, proprietary trend intensity analysis and quantitative options analysis tools.