BNP Paribas Launches Cortex LIVE with FX Trading Assistant ALiX

French international banking group BNP Paribas announced this Thursday that it has launched its latest single dealer platform (SDP), Cortex LIVE, with an inbuilt digital trading assistant, ALiX - a first for the foreign exchange (Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term) sector.

BNP Paribas launched Cortex LIVE in order to meet growing client demand for more intelligent execution methods, transparency, and enhanced controls, the company said in the statement.

BNP Paribas is committed to digital growth

According to the bank, the launch of the platform, as well as ALiX, is also part of the French banking group’s “ongoing commitment” to digital growth.

The platform has a number of built-in features, including a real-time market intelligence portal Insight LIVE, as well as ALiX, the first real-time digital trading assistant for the FX industry, according to the bank.

ALiX provides clients using the platform with running commentary on execution and trading. This includes important events, such as data announcements, market moves, or changes in Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term.

Commenting on the launch, Asif Razaq, global head of FX algorithmic execution at BNP Paribas, said: “We are proud to launch Cortex LIVE and ALiX. Our continued innovation takes clients into the next digital era as ALiX delivers a live commentary on execution, key markets events and provides a pioneering user experience. The client has complete control, while ALiX enhances execution capabilities and offers full transparency throughout execution.”

ALiX, as well as Insight LIVE, are both built with artificial intelligence and use natural language processing. Because of this, they are able to react to more than 100,000 data points per second.

“In a complex market we bring our clients solutions grounded in simplicity. We are excited to offer a bespoke personal trading experience, which navigates through an evolving market, adapting to our clients more sophisticated needs. Cortex LIVE is the ultimate in interactivity, the simplicity of ALiX unlocks the power of the large data set beneath,” added Joe Nash, digital FX COO at BNP Paribas.