Taiwanese Bank Extends License with Fenics for FX Options System

Already a customer for 10 years, E.Sun Commercial Bank will extend its license of Fenics Professional in foreign exchange options to streamline procedures and gain functions such as volatility surface management.

Fenics Software Ltd., owned by interdealer broker GFI Group, announced that E.Sun Commercial Bank Ltd., a Taiwanese commercial bank, has extended its license for the use of FENICS Professional, FX options service

Fenics Professional provides E.Sun Commercial Bank with capabilities such as volatility surface management, Internal RFQ (request for quotes) and automatic term sheet generation. The bank has been a customer of Fenics since 2004.

“We are very proud that E.Sun Commercial Bank has chosen to expand their usage of our software and renew its contract with us for the use of Fenics Professional. Our excellent relationship with the bank goes back almost 10 years”, commented Elliott Hann, commercial director of Fenics.

In today’s release, Peter Shih, EVP & General Manager, at E.Sun Commercial Bank Treasury Division commented: “E.Sun Commercial Bank encourages innovation in all areas and Fenics Professional fits our strategy in helping to streamline procedures and support innovation in our foreign exchange products. E. Sun Commercial Bank is pleased to expand and continue this long standing partnership with Fenics.”

Headquartered in Taipei, E.Sun Commercial bank was founded in 1989 and commenced operations in 1992. E.Sun Commercial Bank provides complete financial services inclusive of corporate, personal, wealth management, credit card, and treasury division.

FENICS Professional is a suite of pricing, trading, risk management and STP (straight-through processing) components allowing customers to control, monitor and oversee a comprehensive range of FX option trading and lifecycle management from one single interface. The products are licensed to over 350 institutions worldwide including banks, multinational corporations, brokers, and hedge funds.

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