BNP Paribas’ FX trading assistant expanded across full product suite

Rick Steves

The trading assistant uses AI and natural language processing (NLP) technology. Clients only have to type in their FX request and ALiX is able to understand and instantly price their request. ALiX has answered over 400,000 client queries since September 2019.

BNP Paribas has announced its FX digital trading assistant has expanded across the full FX product suite on its FX trading platform, Cortex FX.

Launched in 2019, the trading assistant ALiX was originally available on algo orders only but now it assists clients on spot, forwards, swaps, options, and orders, in addition to algos.

Clients who look for live tradable price quickly and easily can count with ALiX to help them speed up daily tasks such as rolling FX positions or pricing complex options requests versus traditional methods.

The trading assistant uses AI and natural language processing (NLP) technology. Clients only have to type in their FX request and ALiX is able to understand and instantly price their request. ALiX has answered over 400,000 client queries since September 2019.

BNP Paribas’ FX trading platform, Cortex FX, features Gamma Algo (which dynamically manages a client’s option gamma profile), Orders 2.0 (an upgraded orders platform for clients to leave take profits and stop loss orders via Cortex FX), and BNPP Connect (a digital chat channel, powered by Symphony).

Nick Hamilton, Head of EMEA eFX Sales at BNP Paribas, said: “With ALiX having expanded its skillset across the entire FX suite it now offers a true one-stop shop for clients to trade effortlessly via Cortex FX. Our clients have had to adapt to new trading environments over the last year, and through listening to their needs, and leveraging cutting edge, innovative technology, ALiX continues to define the next generation of FX trading platforms.”

Joe Nash, digital FX COO at BNP Paribas, commented: “In an ever-evolving and complex market we continually strive to offer clients a bespoke personal trading experience, adapting to their ever more sophisticated needs. ALiX has been designed to fit a world where screen real estate is at a premium and an ever-expanded number of users are working remotely. ALiX has a diminutive screen stature but is indisputably pixel for pixel the most powerful FX platform on the market.”

BPP Paribas has recently announced plans to acquire Exane. This deal, together with the migration of Deutsche Bank’s Global Prime Finance and Electronic Equities business to BNP Paribas, will reinforce BNP Paribas’ position as a leading provider in Global Equities.

Exane has reported revenue of 346.3 million euros and net income of about 22 million euros for the year 2019. Most of its revenues come from its cash equities operation, which is already an exclusive partnership with BNP Paribas.

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