KACE, a division of Fenics Software, has released an update of its kACE Pro platform that will enable clients to stream FX options prices to internal and external clients, single-dealer platforms, execution venues and third party platforms.Richard Brunt, managing director, comments: “This new release allows our clients to stream FX options prices to internal users, sales teams, wealth managers, or directly to their clients. Our agnostic approach to front-end users means that our clients can distribute their prices via a wide range of channels and venues using a single kACE pricing and dealing engine. We have already successfully deployed this new release with several existing and new clients in Europe and have a strong pipeline to continue this rollout globally in the first quarter of 2019.”
Fenics Market Data, the market data division of BGC Partners, and China Credit BGC Money Broking Company (CCT-BGC) have agreed to a distribution partnership, whereby Fenics Market Data will exclusively provide CCT-BGC’s Chinese market data products to clients.
Through this agreement, Fenics Market Data is becoming the sole international commercial agent for CCT-BGC’s onshore Chinese data, covering the fixed income, interest rate and FX markets.
CCT-BGC, established by China Credit Trust Co and BGC, is the first money-broking company granted a licence by the China Banking Regulatory Commission (CBRC) in Beijing.
Fenics Market Data, which is owned by brokerage firm BGC, has added two new members to its Americas team, both based in New York.
Damien Fitzpatrick joins BGC as head of sales, Fenics Market Data, for the Americas, reporting to Elliott Hann, Fenics Market Data’s director of sales.
Fitzpatrick joins from Icap, a subsidiary of TP Icap, where he was most recently head of sales and business development for Asia Pacific. Prior to that, he worked at Thomson Reuters in various commercial roles in New York, London and Singapore.
BGC Partners has released fourth quarter and full year results for 2016, which show that revenues were down in both its fully electronic FX and financial services businesses compared to the previous year.
BGC posted Q4 2016 FX revenues of $70.8 million, down 5.8% from Q4 2015, and full year revenue of $303.3 million, down 6.6% from 2015.
The notional volume from its fully electronic FX trading unit was also down year-on-year, dropping 21.8% from $13.4 trillion in 2015 to $10.5 trillion last year.
BGC Partners has announced that Michael Morris has joined Fenics Market Data as head of sales for the Americas.
In his new role, he will be based in New York and will report to Elliott Hann, global head of sales at Fenics Market Data.
Morris joins BGC from Bloomberg, where he had been the global head of data acquisition since 2012, and had led data acquisition sales in various capacities since January 2006.
“We are delighted to welcome Mike to the team. He brings to BGC Partners a wealth of industry knowledge and leadership from his 20 years with Bloomberg,” says Elliott Hann.