kACE partners with China's Hangzhou Erayintong Software Limited to offer Electronic Distribution of FX Options in China
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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