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Foreign Exchange

FX banks make trading platforms fit for homeworking

The leading FX banks have introduced notable enhancements to their electronic trading platforms in recent months in an attempt to make them more attractive to traders that are still working away from their offices.

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BNP Paribas announced in March that ALiX, the FX digital trading assistant that the bank launched in September 2019 for algos only, is now available for spot, forwards, swaps, options and orders.

It is designed to give clients access to live tradable prices, helping them speed up daily tasks such as rolling FX positions or pricing complex options requests.

At around the same time, Barclays introduced BARX Book for FX, which gives corporate and institutional clients access to principal liquidity streams and an increased number of external liquidity providers.

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Joe Nash, BNP Paribas

These clients can now access a new implementation shortfall algorithm to manage the trade-off between arrival price slippage and execution price risk, giving them the flexibility to choose an execution style intended to minimize market impact for a given level of risk.

Joe Nash, FX and local markets digital COO at BNP Paribas, describes ALiX as a completely new design concept for a single-dealer FX platform.

“We have taken almost everything you can do on Cortex FX [the bank’s multi-product FX trading platform] and made it accessible via a tiny widget in the corner of the screen,” he says.

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