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.