FX Markets has recognised BNP Paribas in three categories at its annual Best Bank Awards across the bank’s FX and e-trading franchise.
- Best bank for e-trading
- Best bank for EUR/USD
- Best bank for regional/domestic banks
The Best Bank Awards are decided based on votes and feedback from key players in the industry. These results highlight the strong recognition from clients during a particularly challenging year and demonstrate the strength of BNP Paribas’ FX and e-trading business.
“Winning these categories highlights the diverse strength of our e-trading and digital capabilities within the FX markets,” commented Francisco Oliveira, Co-head of Global Macro and Global Credit at BNP Paribas. “Clients have faced an unpredictable and volatile 12 months and I’m proud that we were able to stand by them and deliver consistent liquidity no matter the circumstance.”
FX markets: a year of volatility and uncertainty
Since the onset of the Russia-Ukraine war in February 2022, financial markets have experienced extreme volatility. FX market participants have had to navigate a very challenging environment as corporate and institutional investor clients alike were faced with an abrupt shift of focus as they sought to reduce their exposure to Russia, protect their assets in emerging markets, hedge FX exposure and quickly adjust positions.
FX trading saw a huge spike in activity since the crisis with USD witnessing all-time highs in the last two years as investors sought out the safe haven currency, while other currencies saw significant sell offs. Throughout the evolving situation, BNP Paribas’ FX trading business continued to provide clients with liquidity, flexibility and consistency while also employing its long standing expertise to help capture opportunities from increased spreads.
The second half of the year also presented a number of challenges as soaring inflation, the cost of living crisis and geopolitics contributed to the already high volatility in the FX markets. Altogether, the FX markets have witnessed an extremely challenging year and clients have been in greater need of a banking partner they can depend on.
BNP Paribas’ investment and digitalisation of its flow business over the years has allowed the bank to provide an unparalleled service to clients through its trading business and e-platforms. As a result, the bank was recognised as Best bank for e-trading, Best bank for EUR/USD and Best bank for regional/domestic banks.
