Voters in the FX Markets Best Bank Awards have recognised BNP Paribas in four categories, highlighting the bank’s leadership in FX markets and sustainable finance
- Best bank for sustainable finance
- Best bank for Europe
- Best bank for FX algos
- Best bank for forwards/swaps
Supporting clients in sustainable finance
With the negative impacts of global warming becoming more and more prevalent, corporates and institutions are increasingly incorporating environmental, social and governance (ESG) factors into their business models, and are turning to sustainable finance to accelerate on their trajectory to Net Zero.
As a leading bank for sustainable finance – that integrates sustainability at the heart of its own strategy – BNP Paribas is well positioned to support its clients through the energy transition. The bank offers a number of sustainable solutions such as verified emission reductions (VERs), that clients can use to compensate for their residual, unavoidable carbon emissions. Read more about VERs and BNP Paribas’ offering here. BNP Paribas also supported clients with FX hedges linked to sustainability KPIs in recent years.
We are seeing more and more clients taking responsibility for their carbon emissions, and implementing ambitious emission reduction plans.Constance Chalchat
Chief Sustainability Officer for Global Markets at BNP Paribas
“We are honoured to be recognised by our clients in this category for the first time and would like to thank them for their continued support and trust in us as the go-to partner in their transition,” commented Constance Chalchat, chief sustainability officer for Global Markets at BNP Paribas. “We are seeing more and more clients taking responsibility for their carbon emissions, and implementing ambitious emission reduction plans. They use carbon offsets to supplement these decarbonisation efforts, and choose us for the high quality of projects we propose and the advice they are getting from our long-dated experts.”
Innovating the FX markets
The FX markets have undergone transformational change in recent years with digitalisation unlocking a world of possibilities from electronic trading to sophisticated tools to support clients trading needs. BNP Paribas has been at the heart of this innovation, providing cutting edge technologies such as Cortex iX, BNP Paribas’ automated algorithm execution suite, designed to intelligently read multiple markets in real time and dynamically adjust behaviour to optimise execution. BNP Paribas unveiled its latest enhancement to the algo suite this year, with the introduction of its BRL NDF algo – one of the first on the market – as interest in local markets grows.
This award is recognition of our dedication to being a leading digital bank of the future.Asif Razaq
Global Head of FX Automated Client Execution
“Winning best bank for algos is demonstration of BNP Paribas’ pioneering digital offering within the FX markets,” commented Asif Razaq, global head of FX automated client execution at BNP Paribas. “We are constantly enhancing and fine-tuning our digital tools to meet clients’ ever-changing needs, striving to provide powerful digital tools in the simplest way possible. This award is recognition of our dedication to being a leading digital bank of the future. Thank you to all the clients who voted for us.”
Say hello to ALiX
BNP Paribas was also recognised as best bank for Europe and best bank for forwards and swaps, further demonstrating BNP Paribas’ dominance in FX markets. In the latest round of enhancements to its FX single dealer platform, Cortex FX, BNP Paribas introduced upskilled ALiX in 2021, the FX market’s first real-time digital trading assistant. Originally only available for algos, upskilled ALiX was expanded across the full FX product suite on Cortex FX, unlocking its potential across products including spot, forwards, swaps, options, and orders, in addition to algos. Read more about ALiX here.