London – June 2nd 2008 – Quaesta Capital, a Swiss financial services provider, has gone live with FENICS FX – pricing and risk management software from GFI (Nasdaq: GFIG).
Quaesta Capital is using FENICS for managing vanilla and exotic FX option positions in its new v-Pro, a long/short FX volatility program.
Harald Hild, v-Pro’s principal portfolio manager said “With volatility strategies you need active and dynamic trade management. For us at Quaesta Capital, risk and position management is critical to generate attractive and sustainable absolute returns for our investors – and FENICS FX is great for exactly this.”
“The FX market continues to develop,” said Richard Brunt, GFI’s global head of FENICS sales, “and currency fund managers who are developing innovative investment products – as Quaesta Capital is doing with v-Pro – are another new area where FENICS can be deployed”.
Quaesta’s licence covers FENICS’s Pricing, Security, Live rates and Analysis modules. V-Pro was launched at the end of May.
The deal was signed in December last year and FENICS went live at Quaesta in April.
About GFI Group Inc. www.GFIgroup.com
GFI Group Inc. (www.GFIgroup.com) is a leading inter-dealer broker specializing in over-the-counter derivatives products and related securities. GFI Group Inc. provides brokerage services, market data and trading platform and analytics software to institutional clients in markets for a range of credit, financial, equity and commodity instruments.
Headquartered in New York, GFI was founded in 1987 and employs more than 1,700 people with additional offices in London, Paris, Dubai, Hong Kong, Shanghai, Tokyo, Singapore, Sydney, Seoul, Cape Town, Calgary, Englewood (NJ), and Sugar Land (TX). GFI provides services and products to over 2,200 institutional clients, including leading investment and commercial banks, corporations, insurance companies and hedge funds. Its brands include GFI™, GFInet®, CreditMatch®, GFI ForexMatch™, EnergyMatch®, FENICS®, Starsupply®, Amerex® and Trayport®.
Forward-looking statement
Certain matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words “anticipate,” “believe,” “estimate,” “may,” “might,” “intend,” “expect” and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: economic, political and market factors affecting trading volumes; securities prices or demand for the Company’s brokerage services; competition from current and new competitors; the Company’s ability to attract and retain key personnel, including highly-qualified brokerage personnel; the Company’s ability to identify and develop new products and markets; changes in laws and regulations governing the Company’s business and operations or permissible activities; the Company’s ability to manage its international operations; financial difficulties experienced by the Company’s customers or key participants in the markets in which the Company focuses its brokerage services; the Company’s ability to keep up with technological changes; and uncertainties relating to litigation. Further information about factors that could affect the Company’s financial and other results is included in the Company’s filings with the Securities and Exchange Commission. The Company does not undertake to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
CONTACT:
Alan Bright
PR Manager
GFI Group Inc.
+ 44 (0)20 7877 8049
alan.bright@gfigroup.co.uk
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