NEW YORK (HedgeWorld.com)–GFI Group Inc. announced that four major banks have signed up for its latest derivatives-related subscription service, FX Options Revaluation Fixings.
In a statement Dec. 8, the company said that JP Morgan Chase, Bank of America, Deutsche Bank and the Bank of Montreal all would receive data through the service, designed to help risk managers control exposure in the currency options markets.
GFI also is the owner of FENICS FX, the benchmark currency exchange option pricing and risk management program .
The new product will provide subscribers with a daily file, available at 11 a.m. (EST) each day, providing implied volatility surfaces for over-the-counter FX options for 31 of the most frequent traded currency pairs, as of 10 a.m. (EST). The company said that it uses that time because that is the customary expiry for FX options.