Kace, Algorithmica, Partner for FX Volatility Aggregator

Fenic Software’s Kace has unveiled a partnership with Algorithmica to launch the Kace Volatility Aggregator, which allows users to combine FX option volatilities from multiple sources to create a unique surface that feeds downstream into client applications such as back and middle office systems and proprietary technologies.

The firm says 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.

“Clients are demanding more control over their data, and more transparency on the provenance of the data that they use,” says Richard Brunt, managing director at Kace.”

Rich Winter, senior managing director at Fenics Market Data and Information Analytics, adds, ‘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”.