GFI delays new Asian services

The company originally planned to provide real-time and revaluation rates for the Singapore dollar, Hong Kong dollar and Korean won real-time volatility surfaces by the end of the third quarter of 2003. However, the service is now expected to launch in the first quarter of 2004.

James Watson, GFI’s global head of sales in London, said the "short delay" is principally due to the company’s decision to focus instead on a drive to recruit more staff in the Asia-Pacific. "As soon as the team are up and running it will be an instantaneous switch-over to start providing this information," he said.

Watson said GFI is currently hiring additional support staff for the region. It has already added a second member to its support staff in the Singapore office. Watson declined to name the new addition but said she is scheduled to start at GFI in the New Year, and that she has been hired from the middle office or technical side of a bank. She will support Fenics customers around the region and will report to Marc Field, GFI’s head of sales for Asia in Singapore. Fenics is GFI’s flagship options pricing system.

Watson said he plans to hire someone for a similar role in Hong Kong by the end of January.

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