Cambridge Mercantile Corp adds FX options pricing through GFI FENICS
The Cambridge Mercantile Corporation, the Canadian FX and global payments merchant, has expanded its agreement with GFI Group, the derivatives interdealer broker, for the licensing of its FX options trading and risk management tool, FENICS Professional.
The move forms part of the company’s aggressive growth strategy and “adding FX options to our product suite has been an important step for us to stay at the forefront of the market place with the range and depth of services we can provide to clients”, says Bernard Heitner, CEO of Cambridge Mercantile Corp. The Cambridge Mercantile Group, founded in 1992, provides businesses trading internationally with foreign exchange, global-payments services and risk-management solutions.
In 2009, it introduced its online global payments FX trading platform, Cambridge Online, and last summer it acquired E4X, broadening its offering to ecommerce merchants, a leader in multi-currency processing for ecommerce merchants.
GFI FENICS offers data and analytics products for FX options pricing, analysis and reporting, and has seen strong growth in the Americas over the last year. Their FX option pricing and analysis tool is licensed for use at over 350 client sites worldwide, financial institutions and corporations.