BNP Paribas Flex infrastructure offers a scalable and agile solution to actively manage even the most sophisticated strategies through a single instrument — an Actively Managed Certificate (AMC) or an Actively Managed Swap (AMS).
What are Actively Managed Certificates and Actively Managed Swaps?
Actively Managed Certificate (AMC) is the ultimate vehicle empowering investment managers to showcase their expertise, offer diversified portfolios, and adapt to ever changing market conditions with unmatched flexibility.
Actively Managed Swap (AMS) is a flexible instrument for synthetic portfolio management. It is tailored for asset managers or ETF managers who seek scalability, faster time to market, and streamlined efficiency.
Why choose Actively Managed Certificates or Swaps?
- Diversification: a single instrument, AMC or AMS, gives a broad access to markets, regions, instruments and asset classes.
- Faster time-to-market: unlike funds the AMC/AMS can be launched within days, which allows to seize rapidly the new market opportunities.
- Operational off‑loading: the product’s entire lifecycle—issuing the vehicle, managing the portfolio, handling secondary‑market pricing, collateral and corporate‑action processing, dividend/coupon payments, settlement, risk control, and all regional regulatory, listing and reporting requirements— is handled by BNP Paribas Flex platform, so the investment manager can focus solely on the investment strategy.
- Active strategy with a full transparency: investment managers can create their performance track in a full transparency within their mandate framework.
How does BNP Paribas Flex enable Actively Managed Certificates (AMC) and Swaps (AMS)?
BNP Paribas Flex is a plug-and play infrastructure that is powered by the bank’s strong trading capabilities, global presence, digital edge and human capital.
It offers the possibility to manage seamlessly AMC or AMS via Brio™ and Smart Derivatives for institutional and distribution clients.
Here are two real use cases that show how AMS/AMC can serve investment managers’ goals.
Use Case 1: Launching a GenAI-themed ETF with Actively Managed Swap
| Context | The demand for Actively managed ETFs is increasing, driven by portfolio managers seeking liquid and transparent investment vehicles that can capture dynamic, active strategies. Within this context, a mid-size ETF manager aimed to launch an active strategy focused on the generative-AI theme. |
| Issue | To successfully launch and manage this ETF, the manager was facing operational burdens such as trade capture, collateral calls, and quarterly reporting, which can divert resources away from core activities like research, thematic idea generation, and client communication. |
| Solution | The ETF manager entered into an AMS agreement with BNP Paribas. By doing so, the manager was able to delegate index-sponsorship responsibilities to the bank, including daily index-performance data supply and maintenance of the underlying index. This partnership leveraged the bank’s long-standing experience as an index sponsor. |
| Benefits | 1. Simplified operations: The ETF manager eliminated operational burdens, allowing for a more straightforward process when rebalancing the portfolio or adding new securities. 2. Resource optimisation: By delegating operational tasks to BNP Paribas, the manager was able to devote all resources to high-value activities such as research, thematic idea generation, and client communication. 3. Enhanced scalability: The use of AMS enabled the fund to scale more efficiently, acting on the genAI theme in a timely manner to meet client demands and capitalise on market opportunities. |
Use Case 2: Implementing a cross-asset Actively Managed Certificate
| Context | A global wealth management firm catering to high-net-worth clients was seeking to create a bespoke investment product that combined multiple asset classes, including equities, bonds, options, and Quantitative Investment Strategies (QIS). The goal was to provide a diversified and sophisticated investment solution without the complexity typically associated with managing separate legal wrappers for each asset class. |
| Issue | Traditionally, managing cross-asset products involves significant administrative complexity, including navigating different legal structures, pricing mechanisms, and operational processes for each asset class. This complexity can hinder the creation of tailored investment solutions that meet the unique needs of high-net-worth clients. |
| Solution | BNP Paribas provided a Cross-Asset AMC solution, utilising its Flex platform to create a single vehicle that aggregates equities, bonds, options, and QIS under one transparent structure. Key components of the solution included: – Daily NAV Feed with Brio™ APIs ensuring transparency and accuracy in valuation. – High-touch execution desk offering bespoke pricing, hedging, and broker negotiations for each component of the cross-asset product, tailored to meet the specific needs of the clients. |
| Benefits | 1. Rapid time-to-market: The cross-asset AMC solution was launched in just two weeks. 2. Customisation and flexibility: The solution allowed for the customisation of features such as coupons and FX hedging to meet the individual needs of each client, providing a high degree of flexibility in portfolio management. 3. Simplified operations: By aggregating multiple asset classes under a single vehicle, the administrative complexity associated with separate legal wrappers is significantly reduced |
What makes BNP Paribas Flex offer stand out?
A truly cross-asset platform powered by a global bank
BNP Paribas’ truly cross‑asset platform—backed by the bank’s worldwide market‑making desks and balance‑sheet liquidity—enables instant funding and hedging across rates, FX, credit, equities, commodities, ETFs, funds and structured products, all within a single vehicle
An integrated digital platform and high‑touch expertise
The Brio™ hub provides pricing, single‑click order entry and automated reporting, while a dedicated execution team tailors pricing, negotiates broker terms and supports any bespoke structuring request.
End‑to‑end local regulatory expertise
Legal documentation, reporting and local compliance are managed by BNP Paribas’ specialist counsel, freeing managers from regulatory work, reducing operational overhead and guaranteeing audit‑ready compliance.
With BNP Paribas QIS, you can gain broad market exposure via market access indices, add alpha to your portfolio through carry indices, and protect your portfolio with cost-efficient protection indices.
- North America, Europe, Emerging Markets, Asia
- +7400 available
- +810 covered by BNP Paribas Equity research
Access to regions (developed and emerging markets), types (senior, subordinated), currencies, fixed/variable coupon
- Cross regional and global exposure
- +900 available
- Commodity, equity, fixed income, others
Equity, index, FX, rates, credit, implied assets
Cross-asset
Cross-asset
Actively Managed Certificates (AMC) and Actively Managed Swaps (AMS) on BNP Paribas Flex platform give investment managers instant cross‑asset liquidity, rapid time‑to‑market and a fully outsourced back‑office, so they can devote 100 % of their effort to research and client‑facing work. The Gen‑AI ETF and the multi‑asset AMC illustrate how the platform turns complex ideas into launch‑ready products in days, not weeks, while guaranteeing regulatory compliance.
Ready to replace fragmented processes with a single‑vehicle, bank‑backed solution? Contact your BNP Paribas sales representative today and let Flex accelerate your next active strategy.