PLATFORM PROFILE
Making sense with CORTEXFX
The CORTEX brand is synonymous with 2 concepts – ‘Intelligence’ and Advantage’. Just as the CORTEX of the brain controls the senses, CORTEXFX, (which is the first product to be launched under BNP Paribas’ new electronic trading brand) allows BNP Paribas’ clients to take full control of their FX trading environment using a feature rich, stable, platform. Thomas Soede, global head of e-commerce at BNP Paribas talks to Frances Maguire about the launch of BNP Paribas’ advanced multi-product FX trading platform. Employing cutting edge trading technology, CORTEXFX offers efficient execution and a one-stop point of access to a range of intelligent electronic products, tools and services from BNP Paribas.
What will CORTEXFX cover?
TS: Launched on March 7, CORTEXFX is the first application to be deployed under the BNPP’s CORTEX brand. It will provide clients with deep liquidity around the clock in over 150 currency pairs that is configured to perform in different market conditions. Te platform provides an intelligent execution interface for all of our FX flow products: spot, outrights, swaps, FX options,emerging markets and NDFs.
CORTEXFX clients can ‘Click and Trade’ a wide selection of NDFs from across Europe, Asia and LatAm allowing our clients to take advantage of the bank’s global reach and extensive local markets footprint.
CORTEXFX also has a comprehensive FX options offering where clients can trade up to 20 different first generation exotics, build strategies and execute these online, using the latest technology, accessed and priced directly via a user-friendly interface.
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Te platform enables two-way auto-quoted vanilla, barrier and digital options, multi-leg options for structured deals, and delta solving features.
Te platform also supports a wide range of order types, including Take Profit, Stop Loss, If Done, One Cancels Other and Repeat.
How will CORTEXFX fit with BNP Paribas’s existing platforms?
TS: Other existing platforms built by BNP Paribas over the last few years will be fully integrated into the CORTEX environment. Tis means that FX, Rates, and Credit products will sit alongside each other under our CORTEX brand giving our clients all the services and products they require via a single platform.
How has CORTEXFX been architected?
TS: CORTEXFX has been built in Microsoft Silverlight – a flexible and light language used primarily for building trading software – this translates to an easy to install, non-memory intensive experience for the user and access is available via any internet connected web-browser.
We have also built an external architecture network by creating an independent ‘bubble’ that sits outside the BNP Paribas main network. Tis means that CORTEX is therefore independent of our existing networks, which ensures that the resiliency and ‘up-time’ of the platform is never below 99.95%. By creating ‘co-location’ connections to all the major global exchanges we have ensured that our clients can request a price, execute and receive confirmations with minimal latency often in terms of milliseconds rather than seconds.
What are the key features of CORTEXFX?
TS: Te platform has been built with flexibility and customisability at its very core and we believe this
PLATFORM PROFILE
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