Quod Financial, a provider of adaptive trading technology, today announced that France’s central bank, Banque de France, has selected its Adaptive FX platform (AFX) as its core foreign exchange trading and liquidity management system.
Quod said it looks forward to enabling Banque de France to achieve its business objectives while furthering its position as a trusted partner to central banks and sovereign institutions around the globe.
Banque de France sought out a flexible solution that could enable greater execution certainty and transparency, as well as minimizing market impact through a set of tools to monitor and analyze in real-time market behavior.
What Does 2021 Hold for the Markets? HYCM CEO SpeaksGo to article >>
After a restricted tender process, the central bank selected Quod Financial in light of its strong technical fit, cross-asset end-to-end functionality and ability to support capital markets operations of multiple central banks on one single platform.
AFX provides all the tools essential for navigating a complex and highly fragmented FX world in one single solution. The platform addresses the needs of different classes of users, providing benchmarks, transaction cost analysis, and execution strategies to allow users to build and adapt trading strategies according to their specific workflows.
For institutions providing custom pools of liquidity to clients, the solution provides real-time algorithmic pricing and internal liquidity management. In addition, system-wide data can be collected and reused for Quod’s artificial intelligence trading algorithms.
Commenting on the news, Mickael Rouillère, the Chief Technology Officer at Quod said: “Banque de France is a technology innovator and the logic of this project is to stay ahead of the rapid changes in the capital markets. Banque de France wants full control on how it provides liquidity to the market, with minimal information leakage, and powerful surveillance tools and ability to analyze events. We used Quod Financial AFX to quickly customize to Banque de France requirements. Banque de France is a leading central bank in Europe; we consider this project as a big milestone”.