kACE, an entity within the BGC Partners and division of Fenics Software Limited, announced that the company has partnered with Algorithmica today for the launch of its kACE Volatility Aggregator (kACE VA) application.
According to an official announcement shared by the company, the newly launched kACE VA application enables users to combine FXO volatilities from different sources to create a unique surface that feeds downstream into client applications, such as kACE Pro, back and middle office systems and proprietary technologies. As a result, users receive full control over blending aggregation and data cleansing algorithms.
kACE has formed several partnerships with some of the leading global financial firms since the start of 2020. In November 2020, mBank, a Polish banking giant, announced the selection of kACE to utilize the services of kACE Treasury.
Commenting on the recent partnership, Richard Brunt, Managing Director at kACE, said: “We are very pleased with the results of our collaboration with Algorithmica. Clients are demanding more control over their data and more transparency on the provenance of the data that they use."
Algorithmica
In the latest announcement, Fenics Software Limited mentioned that the newly introduced FX Volatility Aggregator, in partnership with Algorithmica, is one of the most efficient tools in the global foreign Exchange market. Algorithmica provides tools and resources for real-time quantitative analysis. Headquartered in Sweden, Algorithmica is led by the Chief Executive Officer and Founder, Niclas Holm.
"To hit the mark of excellence in providing kACE and ultimately kACE clients with a solution for volatility aggregation is a major milestone for Algorithmica. Working with highly skilled professionals at kACE has been absolutely key to get to a product ready for launch. Achieving this without physical meetings during a pandemic makes the effort even more impressive. We now look forward to rolling out the product and building on the next release with features and requests from kACE clients,” Robert Thorén, Partner at Algorithmica, mentioned in the latest press release.
