Panel of major banks at TradeTech FX agree the sell-side have changed the mentality around new product development, as the buy-side seeks increased automation and integration.
Tag: BNP Paribas
BNP Paribas takes a leaf out of Silicon Valley’s book with a Siri-style digital trading assistant, which is launching alongside real-time market analytics and interactive algorithms as part of major upgrade to the bank’s Cortex FX trading platform.
Jes Staley said Barclays has gained roughly $20 billion from Deutsche Bank as it targets growth of prime brokerage business.
Deutsche Bank hopes the transition will close by end of this year, but BNP Paribas has said it will likely be completed in its entirety by summer next year.
German institution details €3.1 billion net loss in Q2 2019 following initiation of dramatic restructuring plan.
Global custodians are increasingly seeking to evolve their business models, which have traditionally centred on the back-office, to include front-office services.
Deutsche Bank agreement with BNP Paribas comes as bank plans to exit equities trading and to reduce its workforce by 18,000.
Walid Maaouni joined BNP Paribas in 2009 and has previously worked at Citi, Barclays and Goldman Sachs.
Vela has completed a connection of its Metro trading platform to the FIX order gateway at BNP Paribas.
Panelists at TradeTech FX USA agreed that the buy-side has a better grasp on how algos operate, but less so about the underlying liquidity.