FX Markets recognized BNP Paribas’s ability to steer the markets in its annual report. FX Market eFX Awards 2024The company was entrusted with the bank’s corporate FX trading, as well as futures and swap trading operations.
The fast-paced world of foreign exchange trading requires market participants to stay ahead of the curve. The FX market is in a constant state of change as digital transformation and macroeconomic factors constantly shift the market environment.
- Best Liquidity Provider for Corporates
- Top Liquidity Provider for Forwards and Swaps
“We are honored to be recognized for our FX capabilities,” commented Francisco Oliveira, co-head of Global Macro and Global Credit at BNP Paribas. “We have spent a lot of time strengthening our corporate franchise and have invested heavily in the digital expertise that supports our electronic trading capabilities. We would like to thank FX Markets and our clients for this recognition.”
Business Support
Firms have faced numerous obstacles over the past year, with rising geopolitical tensions and spikes in macroeconomic volatility creating a volatile environment. Nevertheless, BNP Paribas has continued to offer its corporate clients tighter spreads and optimal liquidity.
Electronic trading has become an industry standard in the FX market and an increasingly important requirement for firms’ FX activities. As well as investing in its own digital tools such as Cortex iX, BNP Paribas is making a number of significant investments in fintechs that will help enhance the bank’s digital offering.
For example, BNP Paribas fully acquired digital fintech Kantox in 2023 to transform its corporate clients’ FX risk and hedging processes. Kantox’s software solutions have successfully rebundled corporate FX workflows to provide a one-stop-shop application programming interface (API)-driven plug-and-play solution that has emerged as a unique technology in the corporate cross-border payments sector.
Forward and Swap Advance
Futures and swaps markets have also been vulnerable to macro events over the past 12 months, with spikes in volatility creating challenging market conditions at times. Nevertheless, the digitalisation of its investment and FX flows businesses has enabled BNP Paribas to maintain optimal pricing and liquidity.
Key to the bank’s success this year have been its forward and swap e-books. These allow the bank to price and risk-manage flows electronically and provide faster pricing to more customers, which was extremely useful during volatile times last year. The enhanced pricing mechanism is similar to BNP Paribas’ spot e-books, which have been very successful over the past few years.
A successful year
FX Markets recognised BNP Paribas’ performance in these markets by awarding it Best Liquidity Provider for Corporates and Best Liquidity Provider for Forwards/Swaps, highlighting the bank’s commitment to providing excellent service to its clients.
