Banque Pictet & Cie SA selects kACE Treasury for Electronic FX Forward Price Distribution
January 12, 2021 at 03:00 AM EST
LONDON, Jan. 12, 2021 /PRNewswire/ -- kACE, a division of Fenics Software Limited, an entity within the BGC Partners, Inc. (NASDAQ: BGCP) ("BGC Partners," "BGC" or the "Company") group of companies, announced today that Banque Pictet & Cie SA in Geneva has onboarded its kACE Treasury system to enable the bank to price and distribute FX Forward prices to external e-commerce platforms.
Banque Pictet & Cie SA complements its existing trading technology portfolio by deploying kACE Treasury as an integrated solution for pricing and publishing FX Forwards, enabling its traders to gain access to pricing and arbitrage information for FX Forwards whilst interfacing with SmartTrade, a cloud based dealing system, to accept Requests for Quotes and electronically distribute FX Forward Swap pricing.
John Crisp, Global Head of Product and Strategy at kACE, said, "We are delighted that Banque Pictet & Cie SA selected kACE Treasury. The extraordinary volatility in the market at the beginning of the coronavirus pandemic highlighted the need for robust, automated, and scalable price distribution solutions. kACE Treasury enhances Banque Pictet & Cie SA trading teams' access to accurate pricing and arbitrage information, automates price distribution and helps meet increasing regulatory and audit standards through a standardised pricing model and yield curve."
Guillaume d'Assier de Boisredon, Global Head of FX & Rates at Banque Pictet & Cie SA, said, "We selected kACE Treasury because of their 30-year track record in delivering high quality data aggregation, pricing, and distribution of FX rates. The solution allows the trading team more time to focus on trading strategy and through the automation of the customer quoting process, improves our overall customer service levels. The scalability of kACE Treasury's API powered solution will also allow us to further automate our external price distribution channels as we build out our footprint in this space."
About Banque Pictet & Cie SA
Headquartered in Geneva, Switzerland and founded there, Pictet today employs over 4,800 people. It has 29 offices in: Amsterdam, Barcelona, Basel, Brussels, Dubai, Frankfurt, Geneva, Hong Kong, Lausanne, London, Luxembourg, Madrid, Milan, Monaco, Montreal, Munich, Nassau, New York, Osaka, Paris, Rome, Singapore, Stuttgart, Taipei, Tel Aviv, Tokyo, Turin, Verona and Zurich.
Fenics Software Limited has 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. Through its hosted Gateway service, Fenics Software Limited connects its client community to counterparties, venues, regulators and vendors.
About BGC Partners, Inc.
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 of the Board 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.
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SOURCE Fenics Software Limited