GFI Group Launches Platform to Price Exotic FX Instruments

GFI Group has launched FENICS Exotics, a suite of pricing models it said can be used to price any type of exotic FX instrument.

According to GFI, FENICS Exotics pricing models are tailored to work the way a trader would expect to use them in the FX markets. The platform is also able to determine accurate prices and tradable spreads that can be immediately quoted without manual intervention.

“The core of GFI FENICS product has always been its math models; we have invested heavily in this area over the years and we continue to do so and keep our models at the forefront of the market,” Richard Brunt, the global head of GFI FENICS said in a release.

The firm said FENICS Exotics is powered by two math methodologies, the d’Vega and Monte Carlo. The d’Vega model allows for the incorporation of current market practice to provide the most accurate pricing and spreading of first generation digital and barrier options, the company explained. Meanwhile the Monte Carlo model gives users exotic options pricing software embedded with the latest mathematical methods, GFI Group added.

As the Senior Editor of Advanced Trading, Justin Grant plays a key role in steering the magazine's coverage of the latest issues affecting the buy-side trading community. Since joining Advanced Trading in 2010, Grant's news analysis has touched on everything from the latest ... View Full Bio