LONDON, Oct. 14, 2019 /PRNewswire/ -- kACE, a division of
Fenics Software Limited, an entity within BGC Partners, Inc.
(NASDAQ: BGCP) ("BGC Partners," "BGC" or the "Company"), a leading
global brokerage and financial technology company, today announced
it is partnering with Hangzhou Erayintong Software ("ERAYT"), a
leading Chinese technology company providing front end distribution
services to local bank branches, to offer FX Options solutions to
the China market.
The partnership offers clients of ERAYT a seamless solution that
connects the FX Options pricing engine of the award winning
platform kACE Pro 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.
"This is a very exciting partnership for us. Our partners at
ERAYT have built an excellent reputation for financial software
solutions within China, and when
combined with our 30 years of experience in the global FX Options
market, this new offering is proving to be very compelling," says
Richard Brunt, Managing
Director at kACE. "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."
Ms. Zhou Yi, Director at
Hangzhou Erayintong Software Limited, commented: "We are delighted
to be working alongside our partners at Fenics Software Limited.
The kACE product has a global reputation for best in asset class
for FX Options pricing and when combined with the distribution
power of our XFund platform we are enabling our clients to bring
real operational efficiencies to their distribution strategy by
providing accurate market pricing at the sales level supported by
our head office controls. The level of interest we are seeing in
the first few months of this partnership is hugely encouraging for
the rest of the year."
About kACE
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. The product range
includes pricing, analytics, distribution and trading tools for a
broad range of asset classes.
Both Fenics Software Limited and Kalahari have over 30 years'
experience providing intuitive pre-trade analysis, risk management,
automated client price distribution, post trade processing and
innovative pricing solutions for the FX derivatives and financial
markets. The extensive range of APIs facilitate connectivity to
third parties and bespoke front-end solutions.
About BGC Partners, Inc.
BGC Partners is a leading
global brokerage and financial technology company. BGC's offerings
include fixed income securities, interest rate swaps, foreign
exchange, equities, equity derivatives, credit derivatives,
commodities, futures, and structured products. BGC provides a wide
range of services, including trade execution, broker-dealer
services, clearing, trade compression, post trade, information, and
other 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 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. 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.
About ERAYT
ERAYT Software Co. Ltd is a leading
Chinese technology company founded in 2002 specialising in the
development and services of financial funds software products.
Customers include many of China's
large and medium-sized banks, securities firms and financial
institutions of large companies. Located in the Zhejiang province, ERAYT core values are of
innovation, passion and building trust with its customers and
partners for the betterment of the financial industry. ERAYT holds
the ISO9001 qualification certification, ISO27001 information
safety management, CMMI3 certification and Chinese Foreign Exchange
Trade System qualification.
Media contact for BGC Partners:
Harjeet Singh
+44207894 8829
Investor Relations contact for BGC Partners:
Ujjal Basu Roy
+12126102426
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