BNP Paribas digitises pre-trade workflow with ipushpull

With the PPQ standardised messaging from ipushpull, BNP Paribas hopes to streamline its manual workflow around non-standard, complex trades for asset managers.

BNP Paribas has implemented a standardised messaging solution from ipushpull to digitise its pre-trade client workflow.

Named PPQ, the solution from ipushpull streamlines manual workflow around non-standard, complex trades for sell-side participant’s network of global asset manager clients and is designed to improve efficiency, reduce operational and compliance risk, and support trade negotiation.

It is a pre-trade syntax which standardises and facilitates the negotiation process between the buy- and sell-side through a set of integrated data sharing and data-driven tools, using communication networks like Symphony to deliver the standardised syntax within private bilateral chats.

Chatbots can then interpret key data within those messages and display them within a custom application.

The bank said the implementation was in response to a gap in the market for the digitisation of complex transactions between asset managers and sell-side firms.

“As a bank that is continuously innovating our technology and processes to enhance our client’s experiences, we are pleased to integrate data-driven automation to support our sales organisation in delivering service excellence,” said Ben Harvey, senior LDI and macro rates sales from BNP Paribas.

“Complex derivatives are the next area where we are focused on process automation and improvement. This also underlines our approach to the next generation dealing room and to further develop the non-price element of our customer offering.”

Pre-trade workflows have undergone significant evolution in the last year as demand for greater amount of data insights increases and remote working conditions mean the need for secure communication between counterparties before a trade is essential.

BNP Paribas joined a list of other sell-side participants who implemented the ipushpull solution to digitise this area of their workflow, most recently NatWest Markets implemented the solution in February.