kACE Gateway Deal Manager (DM) allows users to:
- Price a FXO product
- Route orders to enabled trading venues
- See indicative prices from certain permissioned venues
A kACE Gateway Deal Blotter (DB) web page will also enable support and client users to monitor request for quote (RFQ) and straight through processing (STP) statuses. If the connection goes down, STP messages can be retransmitted.
- Users can access DM via the kACE Options products, sales component, or a web browser
- DM is able to specify option details upfront, including request type, premium currency and delta hedge requirement
- No need to leave the kACE screen to create order/request to trade
- No manual rekeying of trade requests
- Possible to have combination of both venues
- Possible to hit both multiple venue buttons at the same time
- Includes STP to kACE Pro
- Operational risk can be reduced by transmitting trades automatically back to kACE Pro
- Book mapping to define which kACE portfolio the trade should be routed to
- kACE staff are agnostic to DM venues
- Current venues offer auto liquidity from up to 12 banks, as well as manual liquidity from a further 18 banks
kACE Gateway is a kACE-hosted messaging hub that provides two-way communication between a customer’s kACE TS deployment and the many participants of the FX derivatives ecosystem.
kACE Gateway functionality
- Inbound straight through processing (STP) of trades to kACE TS (e.g., from selected execution venues)
- Outbound STP from kACE TS to trade repositories or trade processing systems
- Order routing mechanism (kACE Deal Man-ager) to execution venues
- Transmission of position values out of kACE TS (for example, for valuation purposes and trade repositories)
- Market data contribution to the kACE com-munity and beyond.
kACE Gateway can offer connectivity to the following venues:
- Single dealer platforms (SDPs)
- Multi-dealer platforms (MDPs)
- Trade repositories (TRs)
- Central counterparties (CCPs)
- Middleware connectivity solution providers
- Other kACE clients
kACE Gateway: Key benefits
- A single connection to multiple venues eliminates the need to build a myriad of different connections and interfaces
- Improved execution through access to multiple liquidity sources for price discovery and RFQ (request for quote)
- Post-trade STP from single and multi-dealer platforms removes the need for manual ticket capture and increases the speed of transaction processing while greatly reducing the danger of operational errors
- Connections to trade repositories and CCPs help users to comply with complex global reg-ulatory requirements as a direct extension of their existing workflow.
- Access to, and interaction with, the kACE community.
- kACE Gateway uses the market standard FIX messaging protocol
- Messaging traffic encrypted via HTTPS
- 24/5 kACE support monitoring connectivity to ensure no loss of service
Publishing to venues
kACE offers both the technology and infrastructure to manage and publish market data sets such as full volatility surface to both internal and external recipients.
The kACE Data Publisher can publish products to kACE Pro that facilitate real time or scheduled publication of data internally or externally.