kACE teams up with China’s Hangzhou Erayintong Software to offer FX Options solutions in China

Maria Nikolova

The partnership provides clients of ERAYT with a solution that connects the FX Options pricing engine of kACE Pro to ERAYT’s platform XFunds to offer electronic distribution of FX Options to client banks in China.

kACE, a division of Fenics Software Limited, a part of BGC Partners, Inc. (NASDAQ:BGCP), today announces it is collaborating with Hangzhou Erayintong Software (ERAYT”), a Chinese technology company providing front end distribution services to local bank branches, to offer FX Options solutions to the China market.

The partnership will provide clients of ERAYT a seamless solution that connects the FX Options pricing engine of the kACE Pro platform to ERAYT’s local language front office platform XFunds to offer electronic distribution of FX Options to client banks in China. The solution will support all currencies including CNY for both vanilla and exotic options.

Richard Brunt, Managing Director at kACE, comments:

“Demand is driven by the continued investment in technology by banks in China to improve the efficiencies of FX Options product distribution to their sales teams and branches as FX Options volumes increase.”

Let’s recall that kACE is the product brand for the solutions provided by Fenics Software Limited. The brand was launched in July 2018 following the acquisition of Kalahari Limited by Fenics Software Limited.

Earlier this year, kACE announced the latest release of its kACE Pro platform. The platform enables clients to stream FX Options prices to internal and external clients, single dealer platforms, execution venues and third party platforms. Streaming prices enables kACE’s clients to offer tighter spreads to their clients, backed by bespoke dealing logic. The company has also added automated hedging functionality that sends the delta hedge ticket directly to the cash-trading platform, minimising quoting risk and reducing hedging costs and operational inefficiencies.

Read this next

Digital Assets

Silvergate dismisses speculation of trouble, says BlockFi exposure is minimal

Crypto-friendly bank Silvergate Capital claimed on a Tuesday blog post that it had minimal exposure to crypto lender BlockFi, which filed for chapter 11 bankruptcy protection this week.

Retail FX

Fidelity launches crypto trading for retail investors

Fidelity Investments, one of the largest brokerages in the world, has officially rolled out a commission-free crypto trading product for retail investors, starting with zero-fee trading for Bitcoin and Ethereum.

Digital Assets

ECB head calls for tougher crypto regulation after FTX collapse

President of the European Central Bank, Christine Lagarde, has called on lawmakers to start working on fresh crypto regulations to protect the financial system after the collapse of the FTX exchange.

Retail FX

CySEC updates rules for regulated brokers’ cross border activity

As CySEC’s attitude of adopting more stringent licensing guidelines and operating regulations becomes ever clearer, certain aspects of the rules and operations start to come into sharper focus.

Market News

Outlook for Gold: Can the Precious Metal Regain Power?

Gold set an all-time high at $2070 on March 08, 2022, when the price skyrocketed amid investors’ worries about the military conflict in Eastern Europe.

Crypto Insider

2022 Islamic Finance recap: as the space continues to evolve, blockchain stands to play a big part

Despite the global economy being ravaged by turmoil induced by the Covid-19 pandemic over the last couple of years, the Islamic finance industry has emerged relatively unscathed

Crypto Insider

Decentralized Exchanges and Pooled Trading Platform Applications

Decentralized exchanges are one-way blockchain companies take back the power of value creation.

Crypto Insider

How to maximize the safety of your digital tokens?

Digitalization is the future of the investment world. These are the most preferred and growing investments in the world.

Institutional FX, Interviews

FIA EXPO 2022: Interview with Trading Technologies

The derivatives trading industry has gathered in Chicago to attend the FIA EXPO 2022 on 14-15 November.