LONDON, Feb. 22, 2022 /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 China Zheshang Bank ("CZBank"), a major regional Chinese bank headquartered in Hangzhou, has deployed its FX Options distribution solution kACE Order Management Service, kACE OMS, to facilitate distribution of FX Options pricing across the bank.

Powered by the kACE Pro math libraries the solution has been successfully deployed and fully integrated with the bank's existing systems, including its distribution platform X-Fund delivered by Hangzhou Erayintong Software Limited ("ERAYT"), to seamlessly deliver best of asset class pricing and analytics into a single multi-asset user interface. kACE partnered with ERAYT in October 2019 to offer FX Options solutions to the China market¹.

Rich Winter, Senior Managing Director and Head of Fenics Market Data and Information Analytics, said, "We are delighted to welcome CZBank to our well-established and growing kACE community in China. The partnership between kACE and ERAYT has enabled CZBank to roll out the integrated solution across its network."

Richard Brunt, Managing Director, Fenics Market Data and kACE Analytics, added, "We have invested heavily in our suite of APIs to make it easier for clients to integrate kACE analytics and data with third party and proprietary systems. The COVID-19 pandemic has added impetus for the automation of many of the manual processes that remain in FX Options, from price distribution to automation of post trade STP, connectivity to liquidity pools and venues, and access to quality market data." 

General Manager of FX Trade Centre of the Internal Business Department at CZBank, commented, "To be the most competitive national joint stock commercial bank and to implement the platform service strategy, we must provide first class FX trading services to our customers. In FX Options, because of its proven track record as a comprehensive FX Options technology provider, together with its strong field support and close partnership with a leading local technology provider, we selected kACE to improve the efficiency, standardization and customization of our FX Options pricing system."

About China Zheshang Bank 
China Zheshang Bank ("CZBank") is one of the 12 national joint-stock commercial banks approved by the China Banking and Insurance Regulatory Commission ("CBIRC"). Headquartered in Hangzhou, Zhejiang Province, CZBank is the only national joint-stock commercial bank headquartered in Zhejiang. CZBank officially commenced operations on August 18, 2004 and was listed on the Hong Kong Stock Exchange on March 30, 2016 (Stock Code: 2016). As of December 31, 2018, CZBank had established 242 branch outlets, effectively covering the Yangtze River Delta, the Bohai Rim, the Pearl River Delta and certain areas in Central and Western China. On April 21, 2017, our first holding subsidiary – Zheyin Financial Leasing officially commenced operations. On December 19, 2017, CZBank was granted the banking license by the Hong Kong Monetary Authority and became a licensed bank of Hong Kong, thus speeding up the pace of international layout. On April 10,2018,Hong Kong Branch of CZBANK formally started operations.

About kACE
kACE is the product brand for 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, through its various affiliates, 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, through its affiliates, 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, 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.

Media Contact at BGC Partners, Inc:
Harjeet Singh
+44 207-894-8829

Investor Contact at BGC Partners, Inc:
Jason Chryssicas
+1 212-610-2426

¹ For additional information, please see press release titled "kACE partners with China's Hangzhou Erayintong Software Limited to offer Electronic Distribution of FX Options in China" dated October 14, 2019.

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SOURCE Fenics Software Limited