Merrill Lynch takes Fenics

- By FX Markets Staff
- @FXMarkets_
- 09 Dec 2002

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"Fenics FX is the worldwide standard software used to price FX options," said Jay Morreale, global head of FX technology at Merrill in London. "Developing this technology in-house is not cost-effective," he said, underlining a growing trend for banks to outsource FX technology, in response to cost pressures.

The Fenics purchase -- one of the biggest deployments of the software worldwide -- is the latest step in Merrill’s continued investment in forex. It has hired more than 70 professionals

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