kACE and Algorithmica Partner to Launch FX Volatility Aggregator

kACE, an entity within the BGC Partners and division of Fenics Software Limited, announced that it has partnered with Algorithmica, a provider of efficient tools for real-time quantitative analysis, to launch its kACE Volatility Aggregator (kACE VA) application.

The kACE VA application allows users to combine FXO volatilities from multiple sources to create a unique surface that feeds downstream into client applications such as kACE Pro, back and middle office systems and proprietary technologies. Users have full control over blending aggregation and data cleansing algorithms, providing custom weighting and data selection criteria as well as removing outlier and stale data.

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Richard Brunt, Managing Director at kACE, said, "We are very pleased with the results of our collaboration with Algorithmica. Clients are demanding more control over their data, and more transparency on the provenance of the data that they use." 

Robert Thorén, Partner at Algorithmica, said, "To hit the mark of excellence in providing kACE and ultimately kACE clients with a solution for volatility aggregation is a major milestone for Algorithmica. Working with highly skilled professionals at kACE has been absolutely key to get to a product ready for launch. Achieving this without physical meetings during a pandemic makes the effort even more impressive. We now look forward to rolling out the product and building on the next release with features and requests from kACE clients."