BNP Paribas has formally unveiled ALiX (Alix), a digital trading assistant, as part of its upgraded Cortex Live single dealer platform – the product was first revealed in the Digital FX Awards in Profit & Loss in April. The bank says that Cortex Live responds to growing client demand for more intelligent execution methods, more transparency […]
Tag: BNP Paribas
Market sources tell Profit & Loss that Adrian Boehler has joined UBS as global head of FX distribution. Based in London the sources say he will report to George Athanasopoulos, global head of FX, rates and credit. Boehler was last at BNP Paribas in London where he spent just over seven years in a variety of […]
This year Profit & Loss decided to update the format and judging categories of our annual Digital FX Awards. The process remains subjective but we have not restricted ourselves to the narrow confines of previous years’ categories. Instead of many of the categories, we have created Awards for Excellence in e-FX, something that we believe […]
Next Generation Algo Execution While there may have been some questions over the ultimate ambition BNP Paribas’ board had for its FX business, there is no doubt that execution services has been viewed favourably – and it has showed in a series of excellent product innovations and roll outs over the previous few years. This […]
BNP Paribas today announces the launch of the BNP Paribas MGI Systematic Currency Alpha Index using artificial intelligence through machine learning. The index, created by BNP Paribas in partnership with Millennium Global Investments (MGI), went live in Q1 2019.MGI provides systematic FX signals to BNP Paribas, determining the long or short exposure to four liquid currency pairs selected to represent the global FX market (USD/GBP, USD/EUR, USD/AUD and USD/JPY). In a statement, the firms say the Index can be considered as a new frontier for investors seeking cross-asset portfolio diversification, as it is enhanced by signals generated by an artificial intelligence model that uses machine learning to identify the dominant factors driving the performance of currency pairs each day.
LMAX Exchange has announced the addition of a global credit intermediation solution for spot FX trading.
The firm says the solution will benefit regional banks and mid-size financial institutions, who typically have limited bilateral credit relationships with larger global banks active in the institutional FX markets, by facilitating expedited access to LMAX Exchange’s central limit order book liquidity.
BNP Paribas and JP Morgan are working with LMAX as credit intermediaries to facilitate spot FX transactions with institutional counterparties in line with individual client requirements.
There’s something for everyone in this week’s In the FICC of It podcast as Colin Lambert and Galen Stops traverse the US legal system, trading, crypto and China.
Listen in as Lambert explains why he is mystified at the prosecution’s flip-flop in the Mark Johnson case and angry at the FX industry’s previous lack of effort to explain how markets work to the US legal authorities; and Stops takes a look at a new report n his favourite industry – CTAs. Having had the data explained to him, Lambert also thinks he knows why some CTA sectors are doing well and some aren’t, so that’s another of his “theories” then…
Our podcasters then move onto debate whether crypto markets will evolve to an OTC model and whether this would be a good thing for attracting institutional money to what is still a relatively nascent market.
Stops closes out by reporting from an analysts’ briefing this week that highlighted a change in approach on the part of China to its programme of liberalisation of the yuan.
China has fundamentally changed its approach towards RMB internationalisation, according to BNP Paribas China’s chief China economist, XD Chen.Speaking at a briefing in New York today, Chen explained that for the past five years the authorities in China had one main policy stance regarding the renminbi: to promote the internationalisation of the currency.However, he then added: “But now this policy stance, in our observation and together with our policy consultation, is no longer. In other words, they’re not going to use the government’s force to promote renminbi internationalisation, instead they will follow market forces.”
Adrian Boehler has, according to reports, left his position as co-head of FX, local markets and commodities at BNP Paribas. In another development, market sources tell Profit & Loss that Sally Francis, head of institutional sales for FX and local markets at the bank, has also left.
Boehler is seeking another career opportunity according to an internal memo cited by Bloomberg News. He joined the bank in late 2011 as global head of institutional sales, after serving as head of FX sales for Europe at HSBC.
360T has announced the expansion of its algo suite.
“The need to enhance our integrated solutions with the continued innovation of our bank partners has never been more important for our clients, we are excited about this investment – now with over 60 Algo strategies, this will ensure our customers have access to market leading solutions in their execution decisions, as part of their 360T solution,” says Carlo Kölzer, CEO of 360T.
The 360T Algo suite is integrated into clients’ existing workflow via 360T TEX and the 360T EMS, which offers advanced workflow solutions, liquidity and compliance tools to the institutional and corporate market.