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      Fenics Market Data Expands FX Options Offering with AI and New Analytics "FXO 2.0"

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      Fenics Market Data Expands FX Options Offering with AI and New Analytics "FXO 2.0"

      November 09, 2021 - Fenics Market Data, a division within BGC Partners, today announced the launch of its latest upgrade to its FXO volatility service, FMD FXO 2.0. FXO 2.0 combines machine learning with improved analytics to deliver over 300 currency pairs and 27 precious metal pairs, improving the surfaces with more wing data points and long dated tenors. FMD market spreads now update more dynamically based on liquidity information from BGC Partners' trading venues and its award-winning broking divisions.

      Rich Winter, Senior Managing Director and Head of Fenics Market Data and Information Analytics, said: "Our FXO offering was already very strong, built on the capital backed data from our interdealer brokerage businesses. We invested further in our FXO volatility service to address a wider range of data usage by our clients. The FX Markets award for Best Market Data Provider in 2021 is testament to the hugely valuable set of tools we now have for our clients."

      Richard Brunt, Head of Sales at Fenics Market Data, added, "Driven by a desire for greater transparency for trading decisions, regulatory pressure and reduced capital requirements, clients are increasingly looking for datasets based on tradable data rather than consensus data. FXO 2.0 leverages a greater variety of broking and venue sources. By combining the expertise of our data science team with FXO-tailored analytics from kACE, the result is a market leading product delivering the widest set of data points available anywhere. We were delighted to receive the "Best Market Data Newcomer (Vendor or Product)" award by Inside Market Data & Inside Reference Data in May 2021 for FXO 2.0, recognising the innovation integral to the release. Initial feedback from clients has been very positive, with many users employing FXO 2.0 across a range of business functions."

      Brian Bleier, Global Head of Product Strategy for Fenics Market Data, commented: "Given the interwoven nature of our technology, we are pleased that kACE can help meet our clients' needs with analytics to bring this solution to market. kACE's clients have asked us to assist them expand their currency pair coverage. We can seamlessly enable them to receive this data into kACE Pro to aid price construction and for valuation and risk purposes."

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