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.

  • Read this next

    Retail FX

    Lark Funding reopens to US traders, MyFundedFX picks cTrader

    Canada-based prop trading firm Lark Funding announced it will once again welcome clients from the United States.

    Institutional FX

    Cboe FX volume falls to lowest level since summer

    Cboe’s institutional spot FX platform, known as Cboe Spot, today announced its trading volume for the month ending February 2024, which took a step back after a strong rebound in December.

    Retail FX

    ThinkMarkets secures lucrative DFSA license in Dubai

    Melbourne-based broker ThinkMarkets has secured a license from the Dubai Financial Services Authority (DFSA) after it has already incorporated its new subsidiary in the Dubai International Financial Center (DIFC).

    Digital Assets

    New Horizen Lays Out Its Vision Of A Modular, Proof Verification Layer For Web3 Networks

    Horizen is forging a new path for the future of blockchain with its New Horizen initiative, which is building a modular Proof Verification layer that’s dedicated to verifying cryptographic proofs for any settlement layer, beginning with Ethereum. 

    Digital Assets

    Karma3 Labs Raises a $4.5M Seed Round Led By Galaxy and IDEO CoLab to Build OpenRank, a Decentralized Reputation Protocol

    Using OpenRank, developers and web3 companies can build consumer apps where people can discover, use, fund, read, or buy something on-chain without worrying about getting spammed or scammed.

    Digital Assets

    Worldcoin down as Elon Musk sues OpenAI CEO Sam Altman

    Worldcoin’s (WLD) token dropped following news of a lawsuit against related company OpenAI. The lawsuit was filed by Elon Musk and accused OpenAI and CEO Sam Altman of breach of contract.

    Institutional FX

    Exegy’s Liquidity Lamp adds intraday data to outperform S&P 500 by 31.8%

    Exegy has incorporated intraday signals into its AI-powered iceberg order detection tool, Liquidity Lamp. By adding intraday data to a baseline mean reversion strategy, Exegy’s model outperformed the baseline by 10.5% and the S&P 500 (SPY) by 31.8%, respectively in the out-of-sample testing.

    Industry News

    Think Elon Musk backed your crypto exchange? ASIC’s latest reveal may shock you

    In an absolutely shocking turn of events that nobody could have possibly seen coming, the Australian Securities and Investments Commission (ASIC) has bravely stepped forward to reveal that, yes, those videos of Elon Musk passionately endorsing a cryptocurrency exchange are as fake as a three-dollar bill.

    Fundamental Analysis

    Global FX Market Summary: EUR, USD March 1st, 2024

    The ISM’s February Manufacturing PMI is expected to show a slight increase, but remain below the expansionary threshold, while inflationary pressures persist and a Fed rate cut in June is still possible.

    <