BNP Paribas expects to formally announce the European launch of its Centric platform in mid-October, Profit & Loss understands.
The multi-product, application-based electronic trading platform for corporate clients was initially launched in Singapore and Hong Kong in May 2013, followed by roll-outs to additional Asia-Pacific countries that year (Squawkbox, 16 May 2013).
Since then, the bank has been piloting the platform with clients in Europe and the Middle East, according to sources with knowledge of the matter.
The platform was the result of a 20-month development programme and can be incorporated with the bank’s other electronic tools, such as the multi-product FX trading platform, CortexFX.
At the time of launch Thomas Soede, global head of electronic markets, told P&L that with Centric and Cortex it now had its corporate and institutional offerings in place.
“We can extend the same thought process to other client segments and adopt the same duplicable mechanics as its predecessors,” he added. “This supports our plans for the creation of an integrated digital strategy that can be utilised by clients from different sectors, depending on the interest and participation they may have in a particular product.”
The bank is also understood to be actively working on introducing additional fixed income products to the Cortex platform.
As reported last week, Luke Waddington, global co-head of electronic markets, has also recently relocated to Hong Kong from London. P&L understands that Centric will be a key focus for his work with the Asia-Pacific region.