LONDON, Dec. 17, 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, announced
today that Sparrow Tech Private Limited ("Sparrow"), a Singapore headquartered company that offers
digital asset options solutions, has selected kACE Pro, the
award winning provider of FX options solutions1, as its
technology partner for modelling and risk analysis. Sparrow will
integrate kACE Pro's extensive options maths libraries within its
proprietary derivatives trading platform via the kACE open
infrastructure.
John Crisp, Global Head of
Product and Strategy at kACE, said, "We are excited to be
working with Sparrow, the first client to leverage our 30 years
experience of delivering FX options solutions and applying it to
the world of crypto currency options. This is a growing requirement
from our existing customers and new clients such as
Sparrow."
"We selected kACE due to their provenance and expertise in FX
options. Applying kACE Pro to our solutions will enable us to
deliver the best technology to our clients," said Kenneth Yeo, Chief Executive Officer at Sparrow
Tech Private Limited. "This will be the first step towards making
Sparrow the most trusted partner for digital asset options."
About Sparrow Tech Private Limited
Sparrow is the
leading options trading platform, providing the simplest way to
control risk and monetize your digital assets. Our revolutionary
platform empowers institutions and individuals to trade options
that are settled by smart contract.
Headquartered in Singapore,
Sparrow offers customizable options settled by smart contract in an
intuitive and easy-to-use trading interface. We also provide
professional traders trading APIs for maximum performance. Sparrow
aims to serve the needs of all traders by providing a wide range of
industry-leading trading tools.
Sparrow is backed by renowned organizations such as: Signum
Capital, Hyperchain Capital, Kyber Network, LuneX Ventures,
Arrington XRP Capital, Digital Currency Holdings, Du Capital, The
Yozma Group, QCP Capital, 256 Ventures and Jubilee Capital who
firmly believe in the project and have committed to use Sparrow as
their preferred hedging partner.
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 at BGC Partners, Inc.:
Harjeet Singh
+44 20 7894 8829
Investor contact at BGC Partners, Inc.:
Jason
Chryssicas
+1212 610 2426
1 kACE won Best Vendor for Risk
Management/Options Pricing Software at the FX Week Best Bank Awards
in 2019
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