mBank Taps kACE for FX Pricing and Product Distribution

The bank will publish 54 currency pairs and crosses.

Polish banking giant, mBank has selected BGC Partners-owned kACE 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.

“We are delighted that mBank has joined the growing kACE community,” kACE, managing director, Richard Brunt said in a statement. “Since the acquisition of Kalahari, we have invested heavily in our treasury solutions, expanding its pricing capabilities and more importantly the openness of its API’s, to allow for seamless publishing to downstream systems and e-commerce platforms.” 

“With many clients interacting with their customers remotely, automation of price distribution and robust e-commerce solutions has never been more important.”

kACE is a division of Fenics Software Limited, which is owned by BGC Partners.

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A Major Lender in Poland

The Polish bank will fully integrate kACE Treasury with its existing treasury systems, which include both proprietary and third-party solutions. With the new service, the bank will publish 54 currency pairs and crosses.

Established in 1986, mBank is the fourth-largest Polish bank in terms of assets and fifth by net loans and deposits. It has around 4.7 million retail clients and 27.7 thousand corporate clients in Poland. It also has a presence in the neighboring Czech Republic and Slovakia.

“mBank selected kACE Treasury because of the accuracy of its pricing models and experience in integrating these models into existing e-commerce offerings,” Rich Winter, Senior Managing Director at Fenics, said.

“The model accuracy allows the bank to automate curve construction as much as possible and gives the trading desk the confidence to publish competitive tradable level pricing across a large number of currency pairs, in particular, auto-calculating prices around events in the market was a major factor in the bank selecting kACE Treasury.”

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