[ S U R V E Y | A L G O R I T H M I C T R A D I N G ]
BNP Paribas
BNP Paribas achieved an overall average score of 6.48 in this year’ s survey, up 0.02 from 6.46 in 2025, and again ranking first among its peers by a healthy margin. The broker’ s highest scores were recorded in customer support( 6.57), breadth dark pools and algo monitoring( both at 6.56).
In terms of year-on-year performance, BNP Paribas gains upticks in ten key categories, the most significant being speed( 0.22) and breadth of dark pool or alternative liquidity sources( 0.16). Marginal decreases were observed in reduced market impact, customer support and services as well as smart order routing, all landing around-0.08 compared with 2025.
BNP Paribas achieves overall outperformer status in this year’ s survey, as well as category outperformer status across all aspects of service, including stand out categories such as customisation features(+ 0.71), algo monitoring(+ 0.69) and execution consulting(+ 0.66). Just 13 % of traders using BNP Paribas said they expect to make use of additional algorithmic trading providers in the next 12 months.
BNP Paribas currently has around 350 buyside clients using its electronic equities trading
platform known as Cortex Equities. As in 2025, 122 responses were received from long-only managers and institutional investors, ranking the broker first place in terms of submissions. Around 37 % of responding traders work for large firms managing over $ 50 billion in AUM and 22 % from mid-sized firms managing $ 10 to $ 50 billion. In terms of region, 82 % of desks were located in Europe, with the remainder mainly based in the UK( 12 %). The most commonly used performance measurement metrics were VWAP TCA and implementation shortfall TCA.
Sample feedback from respondents included the following:
• Consistently looks for new ways to provide unique liquidity interactions
• A strong commitment to professionalism, transparency and client-focused service delivery
• Strong routing and high flow on platform leads to superior prices
• Delivers high-quality, reliable services with strong market expertise and efficient trade execution
BNP PARIBAS RATINGS FOR ALGORITHMIC PERFORMANCE
Increased trader productivity |
Reduced market impact |
Execution consistency |
Cost Speed Anonymity Price improvement Customisation |
6.47 6.44 6.51 6.33 6.55 6.50 6.41 6.47
Ease of use |
Order routing logic / analysis |
Customer support |
Execution consulting |
Dark pool access |
Flexibility and sophistication of SOR |
Algo monitoring |
Average score |
6.50 6.49 6.57 6.45 6.56 6.46 6.56 6.48
KEY STATS Overall Outperformer: Category Outperformer: X15
6.57 Highest score( Customer support) |
6.33 Lowest score( Cost) |
0.22
Most improved( Speed)
|
-0.08
Least improved( Customer Support)
|
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Issue 87 // thetradenews. com // 67 |