LONDON, Nov. 10, 2020 /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, today announced it has signed up mBank, the first fully Internet-based bank in Poland, to utilize kACE's treasury pricing system, kACE Treasury, to enable the bank to price and distribute FX products through its e-commerce platform and across the institution.
kACE Treasury is fully integrated with the bank's existing treasury systems, both proprietary and those provided by third parties, to allow for a seamless workflow solution for its users.
"We are delighted that mBank has joined the growing kACE community," said Richard Brunt, Managing Director at kACE. "Since the acquisition of Kalahari, we have invested heavily in our treasury solutions, expanding its pricing capabilities and more importantly the openness of its API's, to allow for seamless publishing to downstream systems and e-commerce platforms. With many clients interacting with their customers remotely, automation of price distribution and robust e-commerce solutions has never been more important."
"mBank selected kACE Treasury because of the accuracy of its pricing models and experience in integrating these models into existing e-commerce offerings," said Rich Winter, Senior Managing Director at Fenics Market Data and Information Analytics Management. "The model accuracy allows the bank to automate curve construction as much as possible and gives the trading desk the confidence to publish competitive tradable level pricing across a large number of currency pairs, in particular, auto-calculating prices around events in the market was a major factor in the bank selecting kACE Treasury."
mBank will be publishing 54 currency pairs and crosses.
Set up in 1986, mBank (originally BRE – Export Development Bank) is Poland's 4th largest universal banking group in terms of total assets and 5th by net loans and deposits at the end of June 2020. Servicing 4.7 million retail clients and 27.7 thousand corporate clients in Poland and 979 thousand retail clients in Czech Republic and Slovakia.
mBank has leading positions in retail, corporate, SME and private banking, leasing, factoring, commercial real estate financing, brokerage, corporate finance and capital markets advisory as well as distribution of insurance.
Listed on the Warsaw Stock Exchange since 1992 with a market value of ca. EUR 1.9 billion, a member of WIG-20 blue chip index since its inception in 1994. Highly capitalised, liquid bank with a strong funding profile and a well balanced business mix between retail and corporate banking segments.
For more information, please visit https://www.mbank.pl
About BGC Partners, Inc.
BGC Partners 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, insurance, 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 brands including Fenics, BGC Trader, Capitalab, Lucera, and Fenics Market Data, 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 Partners, Inc. 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 Partners 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 BGC Partners, Inc.