LONDON, February 22, 2022 /PRNewswire/ — kACE, a division of Fenics Software Limited, an entity within the BGC Partners, Inc. (NASDAQ: BGCP) group of companies (“BGC Partners”, “BGC” or the “Company”), announced today that China Zheshang Bank (“CZBank”), a major Chinese regional bank headquartered in Hangzhoudeployed its FX options distribution solution kACE Order Management Service, kACE OMS, to facilitate the distribution of FX options prices throughout the bank.
Powered by kACE Pro math libraries, the solution was successfully deployed and fully integrated with the bank’s existing systems, including its X-Fund distribution platform provided by Hangzhou Erayintong Software Limited (“ERAYT”), to offer seamlessly the best asset class pricing and analytics in a single multi-asset user interface. kACE has partnered with ERAYT to October 2019 provide currency options solutions to China Marlet1.
rich winterSenior Managing Director and Head of Fenics Market Data and Information Analytics, said, “We are delighted to welcome CZBank to our well-established and growing kACE community in China. The partnership between kACE and ERAYT has enabled CZBank to deploy the integrated solution across its entire network.”
Richard BruntManaging Director, Fenics Market Data and kACE Analytics, added, “We have invested heavily in our API suite to make it easier for customers to integrate kACE analytics and data with third-party and proprietary systems. The COVID-19 pandemic has given further impetus to the automation of many manual processes that remain in FX options, from price distribution to post-trade STP automation, connectivity to liquidity pools and venues. , and access to quality market data.
The FX Trade Center General Manager of CZBank’s Internal Affairs Department, said, “To be the most competitive national joint-stock commercial bank and to implement the platform service strategy, we must provide first-class FX trading to our clients. , because of its proven track record as a comprehensive FX options technology provider, as well as its strong on-the-ground support and close partnership with a leading local technology provider, we chose kACE to enhance the efficiency, standardization and customization of our FX options pricing system.
On Zheshang Bank of China
China Zheshang Bank (“CZBank”) is one of 12 national joint-stock commercial banks approved by the China Banking and Insurance Regulatory Commission (“CBIRC”). Based at Hangzhou, zhejiang provinceCZBank is the only national joint-stock commercial bank headquartered in Zhejiang. CZBank officially began operations on August 18, 2004 and was listed on the Hong Kong Stock Exchange on March 30, 2016 (Stock code: 2016). From December 31, 2018CZBank had established 242 branches, effectively covering Yangtze River Delta, Bohai Rim, Pearl River Delta and some areas of central and western china. At April 21, 2017, our first holding subsidiary – Zheyin Financial Leasing has officially started operations. At December 19, 2017CZBank has obtained the banking license from the Hong Kong Monetary Authority and has become a licensed bank of hong kong, thus accelerating the pace of the international layout. On April 10, 2018, the Hong Kong branch of CZBANK officially started operations.
kACE is the product brand for solutions provided by Fenics Software Limited. The brand was launched in July 2018 following the acquisition of Kalahari Limited by Fenics Software Limited. The product line includes pricing, analysis, distribution and trading tools for a wide range of asset classes.
Fenics Software Limited has over 30 years of experience in intuitive pre-trade analysis, risk management, automated client price distribution, post-trade processing and innovative pricing solutions for FX derivatives and financial markets. The wide range of APIs facilitates connectivity with third parties and tailor-made front-end solutions. Through its hosted gateway service, Fenics Software Limited connects its customer community to counterparties, venues, regulators and vendors.
About BGC Partners, Inc.
BGC Partners, Inc. (“BGC”) is a leading global brokerage and fintech company. BGC, through its various subsidiaries, specializes in the brokerage of a wide range of products, including fixed income securities (rates and credit), currencies, equities, energy and commodities, maritime transport and futures contracts. BGC, through its affiliates, also provides a wide variety of services, including trade execution, brokerage, clearing, trade compression, post-trade, information and other services back-office to a wide range of financial and non-financial institutions. Through its brands, including FMX™, Fenics®, Fenics Market Data™, Fenics GO™, BGC®, BGC Trader™, Capitalab® and Lucera®, BGC offers financial technology solutions, market data and analyzes related to numerous financial instruments. and markets. BGC, BGC Trader, GFI, Fenics, Fenics Market Data, Capitalab and Lucera are trademarks/service marks and/or registered trademarks/service marks of BGC and/or its affiliates.
BGC’s clients include many of the world’s largest banks, brokers, investment banks, trading firms, hedge funds, governments, corporations and investment firms. BGC’s Class A common stock trades on the Nasdaq Global Select Market under the symbol “BGCP”. BGC is led by the Chairman of the Board and Chief Executive Officer Howard W. Lutnick. For more information, please visit http://www.bgcpartners.com. You can also follow BGC on https://twitter.com/bgcpartners, https://www.linkedin.com/company/bgc-partners and or http://ir.bgcpartners.com/Investors/default.aspx.
Discussion of forward-looking statements regarding BGC
Statements contained herein regarding BGC that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ materially from those contained in the forward-looking statements. These include statements regarding the effects of the COVID-19 pandemic on the Company’s business, results, financial position, liquidity and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly significantly, from what is currently expected. Except as required by law, BGC assumes no obligation to update forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ materially from those contained in the forward-looking statements, see BGC’s filings with the Securities and Exchange Commission, including, but not limited to, factors of risk and the special note on forward-looking statements. Forward-looking information set forth in these documents and any updates to these risk factors and special note on forward-looking information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.
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1 For more information, please see the press release entitled “kACE partners with China Hangzhou Erayintong Software Limited will offer electronic distribution of FX options in China” dated October 14, 2019.
SOURCE Fenics Software Limited