Banque Pictet & Cie SA selects kACE Treasury for Electronic FX Forward Price Distribution
BGC Partners' kACE division announced that Banque Pictet & Cie SA has adopted its kACE Treasury system. This integration will allow Banque Pictet to effectively price and distribute FX Forward prices to e-commerce platforms. The solution not only enhances traders' access to pricing information but also automates the customer quoting process. The deployment signifies a strategic enhancement to Banque Pictet's trading technology, aiming for improved service levels and regulatory compliance, as stated by both companies' representatives.
- Deployment of kACE Treasury enhances trading capabilities for Banque Pictet.
- Automates price distribution, improving efficiency and customer service.
- Significant experience of kACE in delivering pricing and data aggregation.
- None.
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
Banque Pictet & Cie SA is an entity of the Pictet Group, which is a partnership of seven owner-managers, with principles of succession and transmission of ownership that have remained unchanged since foundation in 1805. The Pictet Group offers only wealth management, asset management, alternative investments and related asset services. The Group does not engage in investment banking, nor does it extend commercial loans. With USD 589 (CHF 559/EUR 525/GBP 477) billion in assets under management or custody at 30th June 2020, Pictet is today one of the leading Europe-based independent wealth and asset managers.
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.
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.
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 Partners is a leading global brokerage and financial technology company. BGC specializes in the brokerage of a broad range of products, including fixed income (rates and credit), foreign exchange, equities, energy and commodities, shipping, insurance, and futures. BGC also provides a wide variety of services, including trade execution, brokerage, clearing, trade compression, post-trade, information, and other back-office services to a broad range of financial and non-financial institutions. Through brands including Fenics, BGC Trader, Capitalab, Lucera, and Fenics Market Data, BGC offers financial technology solutions, market data, and analytics related to numerous financial instruments and markets. BGC, BGC Trader, GFI, Fenics, Fenics Market Data, Capitalab, and Lucera are trademarks/service marks and/or registered trademarks/service marks of BGC Partners, Inc. and/or its affiliates.
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.
Discussion of Forward-Looking Statements about BGC
Statements in this document regarding BGC that are not historical facts are "forward-looking statements" that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the effects of the COVID-19 pandemic on the Company's business, results, financial position, liquidity and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, BGC undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see BGC's Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.
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SOURCE Fenics Software Limited
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