GFI buys exotic options model

The move brings better pricing of exotic options -- such as standard barriers, knock-ins, knock-outs and digital options -- to Fenics, whose strengths are seen to be in the field of vanilla options, said forex options traders last week.

"Fenics is very good at pricing vanilla options," according to one un-named options specialist at a US bank in London. "But when it comes to pricing exotic options there is no market standard. Each bank has its own way of doing it," he said.

GFI had previously