BNP Paribas Adds Brazil Algo

BNP Paribas has expanded its non-deliverable forward algo offering with the addition of Brazilian real (BRL) capabilities to meet what it says is “strong demand” from clients for BRL pairs.

The bank is leveraging its local market presence in Brazil to provide what it says is a unique solution that taps into the richest source of on-shore liquidity on the Brazilian Mercantile & Futures Exchange (BM&F). This onshore liquidity will be complimented with various external venues as well as BIX – BNP Paribas’s internal exchange offering zero-impact internalisation at market mid –  to provide a dynamic and truly ‘smart’ execution option for this market.

“This expansion of our NDF capabilities into BRL emphasises the strong commitment we continue to make to digitalise our offering and enhance the excellent service we provide to our clients,” says Asif Razaq, global head of algo execution at BNP Paribas. “By combining BNP Paribas’ years of experience trading the BRL market with our award-winning algo platform, we have re-engineered our algo strategies to fit this unique landscape optimising client execution.”