BNP Paribas Launches New Algo For Brazilian Real (BRL) Markets

June 10, 2021 - BNP Paribas has today announced that it is expanding its Non-Deliverable Forward (NDF) capabilities to now include Brazilian Real (BRL). This new development comes following strong demand from clients for BRL currency pairs, highlighting the bank’s client-focused approach.

BNP Paribas continues to grow its local market presence in Brazil providing the bank with a unique solution by tapping 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.

Asif Razaq, Global Head of Algo Execution at BNP Paribas commented on the launch, “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. 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.”

In March this year, BNP upgraded its digital trading assistant ALiX to assist clients across the full FX product suite, including spot, forwards, swaps, options, and orders, in addition to algos.