[ I N - D E P T H
|
F O R E I G N
B
NP Paribas has unveiled its
newly revamped FX algo-
rithmic trading platform
following a major upgrade, which
includes the launch of interactive
algorithms and real-time ana-
lytics delivered via an artificial
intelligence-based digital trading
assistant known as ‘ALiX’.
ALiX, which BNP Paribas said is
the FX industry’s first digital trad-
ing assistant, will deliver content
and running commentary on exe-
cution to traders using the bank’s
modernised Cortex LIVE platform.
As market participants continue to
battle with the onslaught of data
volumes, ALiX will digest market
information, presenting tangible
options to improve algo execution
mid-flight, effectively giving BNP
Paribas’s FX algorithms a voice.
“We’ve taken a leaf out of Silicon
Valley’s book with ALiX,” says Asif
Razaq, global head of automated
client execution (ACE) at BNP
Paribas. “Similar to the concept of
Alexa or Siri, ALiX was designed to
focus on financial markets. These
assistants are solving multiple
workflow problems. ALiX is de-
signed to be your personal trading
assistant, where it will monitor
multiple live market data feeds
within our real-time analytics
portal.
“ALiX will also intelligently
inform the client of any key market
events and present context relevant
options to choose from, ultimately
providing the client with an intelli-
gent roadmap of what to do next.”
Alongside ALiX, BNP Paribas has
launched its Cortex LIVE platform
with a real-time market analytics
portal, known as Insight LIVE,
which the digital trading assistant
will use to deliver market content,
data and intelligence to traders.
Insight LIVE builds on the FX
pre- and post-trade transaction
58 // TheTrade // Fall 2019
E X C H A N G E
A L G O -
BNP Paribas
gives FX algos
a voice with
launch of ‘ALiX’
digital trading
assistant
BNP Paribas takes a leaf out of Silicon Valley’s book
with a Siri-style digital trading assistant, which is
launching alongside real-time market analytics and
interactive algorithms as part of major upgrade to
the bank’s Cortex FX trading platform.
cost analysis (TCA) that BNP Paribas already offers
clients through its Insight portal, however, the Insight
LIVE data has been expanded to include real-time
information to bridge the gap between the pre- and
the post-trade TCA.
Navigating the execution flight path
BNP Paribas launched its FX single dealer platform,
Cortex, in 2013 at a time when FX markets were
undergoing a major evolution following the introduc-