Fenics Market Data Expands FX Options ("FXO") Offering with AI and New Analytics
Fenics Market Data, a division of BGC Partners (Nasdaq: BGCP), launched its upgraded FXO volatility service, FXO 2.0, on November 9, 2021. This new service utilizes machine learning and enhanced analytics to offer over 300 currency pairs and 27 precious metal pairs, with improved market spreads based on dynamic liquidity information. The service has received positive feedback from clients and has won awards for innovation in market data. The upgrade aims to meet increased client demand for more accurate and diverse trading datasets.
- Launch of FXO 2.0 introduces over 300 currency pairs and 27 precious metal pairs.
- Utilizes machine learning to enhance analytics and market data accuracy.
- Dynamic updating of market spreads based on liquidity information.
- Received positive client feedback and industry awards for innovation.
- None.
LONDON, Nov. 9, 2021 /PRNewswire/ -- Fenics Market Data ("FMD"), a division within BGC Partners, Inc. (Nasdaq: BGCP) ("BGC Partners," "BGC" or the "Company"), today announced the launch of its latest upgrade to its FXO volatility service, FMD FXO 2.0 ("FXO 2.0"). FXO 2.0 combines machine learning with improved analytics to deliver over 300 currency pairs and 27 precious metal pairs, improving the surfaces with more wing data points and long dated tenors. FMD market spreads now update more dynamically based on liquidity information from BGC Partners' trading venues and its award-winning broking divisions.
Rich Winter, Senior Managing Director and Head of Fenics Market Data and Information Analytics, said: "Our FXO offering was already very strong, built on the capital backed data from our interdealer brokerage businesses. We invested further in our FXO volatility service to address a wider range of data usage by our clients. The FX Markets award for Best Market Data Provider in 2021 is testament to the hugely valuable set of tools we now have for our clients."
Richard Brunt, Head of Sales at Fenics Market Data, added: "Driven by a desire for greater transparency for trading decisions, regulatory pressure and reduced capital requirements, clients are increasingly looking for datasets based on tradable data rather than consensus data. FXO 2.0 leverages a greater variety of broking and venue sources. By combining the expertise of our data science team with FXO-tailored analytics from kACE, the result is a market leading product delivering the widest set of data points available anywhere. We were delighted to receive the "Best Market Data Newcomer (Vendor or Product)" award by Inside Market Data & Inside Reference Data in May 2021 for FXO 2.0, recognising the innovation integral to the release. Initial feedback from clients has been very positive, with many users employing FXO 2.0 across a range of business functions."
Brian Bleier, Global Head of Product Strategy for Fenics Market Data, commented: "Given the interwoven nature of our technology, we are pleased that kACE can help meet our clients' needs with analytics to bring this solution to market. kACE's clients have asked us to assist them expand their currency pair coverage. We can seamlessly enable them to receive this data into kACE Pro to aid price construction and for valuation and risk purposes."
About Fenics Market Data
Fenics Market Data is a leading provider and generator of global financial and commodities market data. Fenics Market Data is a division within BGC Partners, Inc. (Nasdaq: BGCP) and the distributor of data for the BGC group of companies, including BGC, GFI, RP Martin, Freedom, Amerex, Aurel BGC, Sunrise, BGC Liquidez and Perimeter Markets, as well as our flagship Fenics Market Data packages. Data is sourced directly from the global broking operations of BGC Partners and its subsidiaries, including electronic and voice broking, global pricing systems and analytics, with enhanced coverage through Fenics Market Data proprietary data packages. Fenics Market Data contracts for its services via the BGC UK subsidiary Fenics Software Limited.
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, Inc. ("BGC") 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, 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 its brands, including FMX™, Fenics®, Fenics Market Data™, Fenics GO™, BGC®, BGC Trader™, Capitalab®, and Lucera®, BGC offers financial technology solutions, market data, and analytics related to numerous financial instruments and markets. BGC, BGC Trader, GFI, Fenics, FMX, Fenics Market Data, Capitalab, and Lucera are trademarks/service marks and/or registered trademarks/service marks of BGC 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 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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