Fenics Upgrades FX Options Vol Offering

BGC Partners’ Fenics Market Data has launched FMD FXO 2.0, an upgraded volatility service that combines machine learning with improved analytics to deliver over 300 currency pairs and 27 precious metal pairs.

The new version offers improved surfaces with more wing data points and long dated tenors. FMD market spreads now also update more dynamically based on liquidity information from BGC Partners’ trading venues and its broking divisions.

“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,” says Richard Brunt, head of sales at Fenics Market 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  product delivering the widest set of data points available anywhere. 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, adds, “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.”