kACE, a division of Fenics Software Limited, an entity within the BGC Partners, Inc. (BGCP) group of companies, announced the launch of its kACE Volatility Aggregator (kACE VA) application, a collaboration between kACE and Algorithmica, leveraging both organisations’ vast experience in FX derivatives and advanced analytical solutions to deliver unparalleled volatility aggregation functionality.
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The kACE VA application allows users to combine FXO volatilities from multiple sources to create a unique surface that feeds downstream into client applications such as kACE Pro, back and middle office systems and proprietary technologies. Users have full control over blending aggregation and data cleansing algorithms, providing custom weighting and data selection criteria as well as removing outlier and stale data.
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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.” Rich Winter, Senior Managing Director at Fenics Market Data and Information Analytics, added, ‘Clients are moving away from black box composite data feeds to sources that provide high levels of provenance and market accuracy. The kACE Volatility Aggregator allows clients to select their preferred data suppliers, including from our own Fenics Market Data group, specific counterparty banks and other proprietary sources to create their own golden source. They no longer need to rely on a generic one size fits all data feed”.
Robert Thorén, Partner at Algorithmica, said, “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.”
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