BNP Paribas launches Flex iX service

BNP Paribas has recently launched a new service which enables clients to tailor the bank’s existing suite of algos to their specific execution needs. Called Flex iX (Intelligent Execution), the launch was in response to growing interest from sophisticated users who were happy with the existing algos but wanted to create their own bespoke versions without the need to engineer themselves.

BNP Paribas launches Flex iX service
Asif Razaq

BNP Paribas has recently launched a new service which enables clients to tailor the bank’s existing suite of algos to their specific execution needs. Called Flex iX (Intelligent Execution), the launch was in response to growing interest from sophisticated users who were happy with the existing algos but wanted to create their own bespoke versions without the need to engineer themselves. The three algos, Chameleon, Viper and Iguana, have been the only algos in the Cortex iX suite for the past six years in a bid to keep simplicity at the heart of the offering, explains Asif Razaq, global head of FX algo execution at BNP Paribas. “But with Flex iX, clients explain their specific requirements in order for the algo to be a perfect match. Our expert algo development team then engineer a fully customised algorithm, removing the client’s need to deploy their own quants/technology team.” Flex iX also offers integration into the client’s existing infrastructure and workflow. This allows clients to access the algo directly from their own platform or OMS without needing to go through a third party EMS platform. For example, clients can now directly access the bank’s pre-trade TCA analytics via API and use the data to automatically launch the appropriate algorithm.