GFI Group, a US-based provider of electronic execution and trading support products for financial markets, has released FENICS Exotics, a collection of models used to price major exotic FX instruments.

GFI Group said that FENICS Exotics pricing models are tailored to work the way a market practitioner would expect to use them in the FX markets. The component provides accurate prices and tradable bid/ask spreads that can be immediately quoted, without requiring manual intervention.

FENICS Exotics is powered by two math methodologies, dVega and Monte Carlo.

GFI FENICS global head Richard Brunt said that the core of GFI FENICS product has always been its maths models. The company has invested heavily in this area over the years and will continue to do so and keep models at the forefront of the market.

FENICS Professional provides a single interface for price discovery, bilateral trade execution and risk management including the benefit of straight through processing. The FENICS Exotics component is included within the FENICS Professional pricing page and risk management.