China Zheshang Bank Deploys kACE's Solution to Facilitate FX Options Pricing Distribution

kACE, a division of Fenics Software Limited, an entity within the BGC Partners, Inc. (NASDAQ: BGCP) ("BGC Partners," "BGC" or the "Company") group of companies, announced today that China Zheshang Bank ("CZBank"), a major regional Chinese bank headquartered in Hangzhou, has deployed its FX Options distribution solution kACE Order Management Service, kACE OMS, to facilitate distribution of FX Options pricing across the bank.

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Powered by the kACE Pro math libraries the solution has been successfully deployed and fully integrated with the bank's existing systems, including its distribution platform X-Fund delivered by Hangzhou Erayintong Software Limited ("ERAYT"), to seamlessly deliver best of asset class pricing and analytics into a single multi-asset user interface. kACE partnered with ERAYT in October 2019 to offer FX Options solutions to the China market1.

Rich Winter, Senior 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 roll out the integrated solution across its network."

Richard Brunt, Managing Director, Fenics Market Data and kACE Analytics, added, "We have invested heavily in our suite of APIs to make it easier for clients to integrate kACE analytics and data with third party and proprietary systems. The COVID-19 pandemic has added impetus for the automation of many of the manual processes that remain in FX Options, from price distribution to automation of post trade STP, connectivity to liquidity pools and venues, and access to quality market data."

General Manager of FX Trade Centre of the Internal Business Department at CZBank, commented, "To be the most competitive national joint stock commercial bank and to implement the platform service strategy, we must provide first class FX trading services to our customers. In FX Options, because of its proven track record as a comprehensive FX Options technology provider, together with its strong field support and close partnership with a leading local technology provider, we selected kACE to improve the efficiency, standardization and customization of our FX Options pricing system."

Source: PR Newswire