kACE’s New OMS to Support Foreign Exchange Options Markets

kACE, a
product brand for solutions provided by <a href=”https://www.financemagnates.com/tag/fenics/” target=”_blank” rel=”follow”>Fenics Software Limited</a>, has announced
the start of its newest order management system (OMS) for the foreign exchange
(FX) options market, dubbed kACE OMS.kACE OMS Enters the MarketkACE OMS
stands out by providing the essential features that FX options trading desks
require to utilize internal and external liquidity and manage risks effectively.
The newest tool has been launched with pre-built connections to major FX
options trading venues and 16 <a href=”https://www.financemagnates.com/terms/l/liquidity-providers/” class=”terms__main-term” id=”fd90fbbf-614f-4d02-b500-72b78ab4dc6e” target=”_blank”>liquidity providers</a>. With kACE
OMS, clients’ orders can be managed through a streamlined process involving
quoting and risk-offsetting workflows sourced from channels, such as kACE Sales,
e-commerce platforms, and third-party applications. Depending
on the client’s preferences, these processes can be either automated or
executed manually within kACE OMS. This includes essential functions, including price
constructing, streaming updates, spreading, credit checking, mitigating market
risks and quote management.”kACE
OMS democratizes electronic price making and distribution, allowing firms with
lower flows or narrower remits than the tier one banks to build a bespoke
trading infrastructure, leveraging white labelled liquidity to automate and
provide electronic price making across a wide range of FX and structured
products,” Rich Winter, the Senior Managing Director and Global Head of
Fenics Market Data and Information Analytics, commented.kACE brand
was launched in 2018 after Fenics Software Limited, an entity within the BGC
Partners, acquired Kalahari Limited. Its current product range includes analytics,
pricing, trading tools and distribution for <a href=”https://www.financemagnates.com/terms/m/multi-asset/” class=”terms__secondary-term” id=”ffc57e87-e0f9-4ad1-849f-68bc7998a5c0″ target=”_blank”>multi-asset</a> classes.Watch the recent FMLS22 panel discussion on “The Cutting Edge: Advances in Trading Technology.”kACE’s Collaborations with
Banks and Technology ProvidersThe product
brand for Fenics Software Limited solutions bets on the continued expansion of
its services. Thus, in 2021, the company announced a partnership agreement with
Algorithmica to launch its kACE Volatility Aggregator (kACE VA) application.<a href=”https://www.financemagnates.com/institutional-forex/kace-collaborates-with-algorithmica-for-fx-volatility-aggregator/” target=”_blank” rel=”follow”>The recently
presented kACE VA application</a> enables users to combine FXO volatilities from
different sources to create a unique surface that feeds downstream into client
applications.”We
are very pleased with the results of our collaboration with Algorithmica. Clients
are demanding more control over their data and more transparency on the
provenance of the data that they use,” Richard Brunt, the Managing
Director at kACE, commented. In addition, kACE was <a href=”https://www.financemagnates.com/institutional-forex/execution/mbank-taps-kace-for-fx-pricing-and-product-distribution/” target=”_blank” rel=”follow”>chosen by the Polish banking giant, mBank</a>, to utilize the services of kACE
Treasury, the platform’s treasury pricing system, to receive pricing and
distribute FX products through its e-commerce platform and across the
institution.BGC
Partners, which owns both Fenics Software and kACE, <a href=”https://www.financemagnates.com/institutional-forex/bgc-partners-rebrands-as-bgc-group-converts-corporate-structure/” target=”_blank” rel=”follow”>recently underwent a
rebranding</a> and changed its name to BGC Group. The change, announced in
November, coincided with an update of the stock ticker to BGC and a broader
strategy to simplify and reorganize the current corporate structures under a
new Corporate Conversion Agreement.