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.
Tag: Millennium Global
Currency manager Millennium Global has committed to the FX Global Code of Conduct and will ensure adherence to its principles in partnership with ACI Financial Market Association by adopting the association’s E-Learning, Attestation and Certification (ELAC) Portal, an accredited and continuous professional development solution.
Millennium is the first major UK-based buy side asset management firm to sign up to ELAC, which was launched last year and has also been adopted by ANZ Bank among others to help demonstrate adherence to the Code.
Market sources tell Profit & Loss that Lisa Scott-Smith, co-head of portfolio investments and head of the currency team at Millenium Global, is stepping down from the firm to pursue other interests.
Scott-Smith has responsibility for the management of Millennium Global’s active currency overlay team and shares responsibility for managing currency exposures for client portfolios in team mandates on a day-to-day basis with Richard Benson, her co-head of portfolio investments. Benson is believed to be taking on Scott-Smith’s responsibilities in addition to his own.