Best FX swaps and forwards house – BNP Paribas

BNP Paribas secures Best FX swaps and forwards house award

The roll-out at the beginning of 2020 of an e-FX pricing and trading engine in Singapore by BNP Paribas – with the support of the Monetary Authority of Singapore (MAS) – underlines the commitment of the bank to investing for growth in the South-east Asian FX market.

“In South-east Asia, we have seen our e-FX trading volumes grow by double digits year-on-year, and the new e-FX hub in Singapore enables our clients to benefit from better access to liquidity, more efficient price discovery and timelier trade execution,” according to the bank. “Working with the MAS on this initiative underscores Singapore’s focus on improving market efficiency and the sector’s growth potential in the region,” it adds.

BNP Paribas’ e-FX engine offers coverage of more than 50 currencies in spot, forward, swaps, non-deliverable forwards and options, as well as commodities e-trading for precious and base metals. The platform also supports global follow-the-sun execution of FX trades, which allows global and regional market participants to benefit from the further development of the FX market in Singapore to conduct greater trading and risk management in the time zone. 

An adjunct to the e-FX engine in Singapore, BNP Paribas introduced Cortex Live – its latest single-dealer platform – to Singapore clients in response to their increasing needs for more sophisticated and real-time trading tools. Cortex Live features the FX industry’s first real-time digital trading assistant, as well as a real-time market intelligence portal, representing the latest advances in artificial intelligence and natural language processing. 

“With the delivery of both the e-FX engine and Cortex Live in Singapore, clients here will benefit from an unrivalled combination of real-time feedback, quicker and more intelligent trade execution, greater transparency and enhanced controls,” says BNP Paribas. 

Following on from these developments, March 2021 saw the announcement by the bank that its FX digital trading assistant launched in September 2019 – ALiX – has been expanded across the full FX product suite on Cortex FX, enabling its clients to rethink how they can use single bank platforms in the future. Originally only available on algo orders, ALiX can now assist clients across the full FX product suite, including spot, forwards, swaps, options and orders, in addition to algos.

“ALiX is now a genuine one-stop shop for clients to access live tradeable prices quickly and easily, helping them speed up daily tasks, such as rolling FX positions or pricing complex options requests versus traditional methods,” says BNP Paribas. “With ALiX now providing full execution capabilities across FX, our future development will be focused on enriching ALiX to push bespoke, curated and personalised content to our clients, ultimately acting as a digital gateway into BNP Paribas.” 

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