kACE, a product brand for solutions provided by Fenics Software Limited, 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 Market

kACE 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 liquidity providers Liquidity Providers A liquidity provider (LP) constitutes either individual and/or institution that functions as a market maker in a given asset class. Broadly speaking, liquidity providers will act as the both the buyer and seller of a particular asset, thus making a market. In the equities space, many stock exchanges rely on liquidity providers who make the commitment to provide liquidity in a given equity. These liquidity providers commit to providing liquidity in the hopes that they will be able to make a profi A liquidity provider (LP) constitutes either individual and/or institution that functions as a market maker in a given asset class. Broadly speaking, liquidity providers will act as the both the buyer and seller of a particular asset, thus making a market. In the equities space, many stock exchanges rely on liquidity providers who make the commitment to provide liquidity in a given equity. These liquidity providers commit to providing liquidity in the hopes that they will be able to make a profi Read this Term.

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 multi-asset Multi-Asset Composed of varying asset classes, multi-asset is a blanket designation combining different classes such bonds, equities, cash equivalents, fixed income, and alternative investments.When compared to traditional balanced funds, multi-asset solutions differ because they target specific investment outcomes. This includes outcomes such as return above inflation as opposed to gauging performance against standardized benchmarks.Given the composition of multi-asset classes, they need to be dynamically Composed of varying asset classes, multi-asset is a blanket designation combining different classes such bonds, equities, cash equivalents, fixed income, and alternative investments.When compared to traditional balanced funds, multi-asset solutions differ because they target specific investment outcomes. This includes outcomes such as return above inflation as opposed to gauging performance against standardized benchmarks.Given the composition of multi-asset classes, they need to be dynamically Read this Term classes.

Watch the recent FMLS22 panel discussion on "The Cutting Edge: Advances in Trading Technology."

kACE's Collaborations with Banks and Technology Providers

The 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.

The recently presented kACE VA application 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 chosen by the Polish banking giant, mBank, 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, recently underwent a rebranding 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.