BGC Partners, Inc. (NASDAQ: BGCP) disclosed that kACE has partnered with China Zheshang Bank (CZBank) which is a major regional Chinese bank based in Hangzhou. kACE is a division of Fenics Software Limited which is an entity within the BGC Partners, Inc. kACE confirmed that Chinese bank deployed its FX Options distribution solution kACE Order Management Service, kACE OMS, to support the supply of FX Options pricing across the bank.
CZBank said that it must deliver first-class FX trading services to its customers to be the most competitive and efficient joint-stock commercial bank and to execute the platform service strategy. A Chinese bank has selected kACE to improve the efficiency, standardization, and personalization of its FX Options pricing system because of its proven history as an extensive FX Options technology provider, as well as its strong field assistance and close cooperation with a leading local technology provider.
Furthermore, the kACE Pro math libraries are used to power this solution. The solution was successfully installed and fully embedded with the bank's current systems, including its distribution service X-Fund from Hangzhou Erayintong Software Limited, to bring best-in-class asset class pricing and analytics into a single multi-asset user interface. In October 2019, kACE teamed with ERAYT to provide FX Options solutions to the Chinese market.
Additionally, the collaboration between kACE and ERAYT has allowed CZBank to launch the integrated solution across its network. Furthermore, Fenics Market Data and kACE Analytics' Managing Director mentioned that the company has extensively spent in its API suite to make things easier for users to connect kACE analytics and data with third-party and proprietary software.