Banque Pictet & Cie SA selects kACE Treasury for electronic FX Forward price distribution
kACE, a division of Fenics Software Limited, an entity within the BGC Partners, Inc. (NASDAQ:BGCP) group of companies, announced today that Banque Pictet & Cie SA in Geneva has onboarded its kACE Treasury system to enable the bank to price and distribute FX Forward prices to external e-commerce platforms.
Banque Pictet & Cie SA complements its existing trading technology portfolio by deploying kACE Treasury as an integrated solution for pricing and publishing FX Forwards, enabling its traders to gain access to pricing and arbitrage information for FX Forwards whilst interfacing with SmartTrade, a cloud based dealing system, to accept Requests for Quotes and electronically distribute FX Forward Swap pricing.
John Crisp, Global Head of Product and Strategy at kACE, said,
“We are delighted that Banque Pictet & Cie SA selected kACE Treasury. The extraordinary volatility in the market at the beginning of the coronavirus pandemic highlighted the need for robust, automated, and scalable price distribution solutions. kACE Treasury enhances Banque Pictet & Cie SA trading teams’ access to accurate pricing and arbitrage information, automates price distribution and helps meet increasing regulatory and audit standards through a standardised pricing model and yield curve.”
Guillaume d’Assier de Boisredon, Global Head of FX & Rates at Banque Pictet & Cie SA, said,
“We selected kACE Treasury because of their 30-year track record in delivering high quality data aggregation, pricing, and distribution of FX rates. The solution allows the trading team more time to focus on trading strategy and through the automation of the customer quoting process, improves our overall customer service levels. The scalability of kACE Treasury’s API powered solution will also allow us to further automate our external price distribution channels as we build out our footprint in this space.”
Let’s recall that, in November 2020, Poland’s first fully Internet-based bank mBank SA (WSE:MBK) selected kACE Treasury to enable the bank to price and distribute FX products through its e-commerce platform and across the institution.