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.

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