LONDON, Nov. 10, 2020 /PRNewswire/ -- 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, today announced it has signed up mBank, the first
fully Internet-based bank in Poland, to utilize kACE's treasury pricing
system, kACE Treasury, to enable the bank to price and distribute
FX products through its e-commerce platform and
across the institution.
kACE Treasury is fully integrated with the bank's existing
treasury systems, both proprietary and those provided by third
parties, to allow for a seamless workflow solution for its
users.
"We are delighted that mBank has joined the growing kACE
community," said Richard Brunt,
Managing Director at kACE. "Since the acquisition of Kalahari, we
have invested heavily in our treasury solutions, expanding its
pricing capabilities and more importantly the openness of its
API's, to allow for seamless publishing to downstream systems and
e-commerce platforms. With many clients interacting with their
customers remotely, automation of price distribution and robust
e-commerce solutions has never been more important."
"mBank selected kACE Treasury because of the accuracy of its
pricing models and experience in integrating these models into
existing e-commerce offerings," said Rich
Winter, Senior Managing Director at Fenics Market Data
and Information Analytics Management. "The model accuracy allows
the bank to automate curve construction as much as possible and
gives the trading desk the confidence to publish competitive
tradable level pricing across a large number of currency pairs, in
particular, auto-calculating prices around events in the market was
a major factor in the bank selecting kACE Treasury."
mBank will be publishing 54 currency pairs and crosses.
About mBank
Set up in 1986, mBank (originally BRE –
Export Development Bank) is Poland's 4th largest universal banking group
in terms of total assets and 5th by net loans and deposits at the
end of June 2020. Servicing 4.7
million retail clients and 27.7 thousand corporate clients in
Poland and 979 thousand retail
clients in Czech Republic and
Slovakia.
mBank has leading positions in retail, corporate, SME and
private banking, leasing, factoring, commercial real estate
financing, brokerage, corporate finance and capital markets
advisory as well as distribution of insurance.
Listed on the Warsaw Stock Exchange since 1992 with a market
value of ca. EUR 1.9 billion, a
member of WIG-20 blue chip index since its inception in 1994.
Highly capitalised, liquid bank with a strong funding profile and a
well balanced business mix between retail and corporate banking
segments.
For more information, please visit https://www.mbank.pl
About BGC Partners, Inc.
BGC Partners is a leading
global brokerage and financial technology company. BGC specializes
in the brokerage of a broad range of products, including fixed
income (rates and credit), foreign exchange, equities, energy and
commodities, shipping, insurance, and futures. BGC also provides a
wide variety of services, including trade execution, brokerage,
clearing, trade compression, post-trade, information, and other
back-office services to a broad range of financial and
non-financial institutions. Through brands including Fenics, BGC
Trader, Capitalab, Lucera, and Fenics Market Data, BGC offers
financial technology solutions, market data, and analytics 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 Partners, Inc. and/or its affiliates.
BGC's customers include many of the world's largest banks,
broker-dealers, 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
ticker symbol "BGCP". BGC Partners is led by 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 at
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 about BGC
Statements in this document regarding BGC that are not historical
facts are "forward-looking statements" that involve risks and
uncertainties, which could cause actual results to differ from
those contained in the forward-looking statements. These include
statements about 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
materially, from what is currently expected. Except as required by
law, BGC undertakes no obligation to update any forward-looking
statements. For a discussion of additional risks and uncertainties,
which could cause actual results to differ from those contained in
the forward-looking statements, see BGC's Securities and Exchange
Commission filings, including, but not limited to, the risk factors
and Special Note on Forward-Looking Information set forth in these
filings and any updates to such risk factors and Special Note on
Forward-Looking Information contained in subsequent reports on Form
10-K, Form 10-Q or Form 8-K.
Media contact:
Harjeet
Singh
+44 207-894-8829
Investor Relations Contact:
Jason Chryssicas
+1 212-610-2426
View original content to download
multimedia:http://www.prnewswire.com/news-releases/mbank-selects-kace-treasury-pricing-system-for-forward-pricing-and-publishing-301169062.html
SOURCE BGC Partners, Inc.