FENICS Software announced that Novartis is using Corporate FENICS to price currency options. Corporate FENICS, launched in May 1999, is a new software solution to help corporations hedge their currency risk and make more informed option buying and analysis decisions. Corporations can use the pricing calculator and basic analysis tools to price, revalue and analyze OTC and exchange-traded vanilla and exotic currency options, viewed from a buy-side perspective. ‘Corporate FENICS has helped us in managing our currency option exposure,’ said Basil Goetsch, Risk Manager, Novartis International AG. ‘I input the trades and look at the reports. Corporate FENICS has saved us a lot of time and effort,’ said Goetsch. ‘Now we quickly and easily reprice options on our own.’
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