BNP Paribas launches CORTEX FX platform

France's leading bank BNP Paribas has announced the launch of its electronic Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term for Foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term Trading. The bank has launched the much awaited CORTEX FX platform, enabling consumers to use multi-product solution for corporate and financial institutional clients to manage their foreign exchange requirements.

BNP Paribas electronic markets global head Thomas Soede said CORTEX FX is an electronic application that is fully integrated in terms of product access, enabling clients to benefit from using a range of intelligent electronic tools and services.

"Additional asset class applications will be launched on the CORTEX platform in the coming months," said Soede.

The new platform provides full access of electronic foreign exchange products, tools and services through a single point of access, said the firm.

The system is based on Silverlight technology, which facilitates consumers to develop foreign exchange strategies, access market-leading research and execute, monitor and evaluate their foreign exchange trades, claims BNP Paribas.

The FXPB space was dominated by 4 to 5 players, however post Lehman crash banks like BNP revamped their PB offering as institutions were weary of holding cash with one entity.

BNP Paribas has positioned itself as a mid tier PB for hedge funds and retail aggregators, with reasonable collateral requirements and offerings.

Forexmagnates team will be writing a detailed report on Prime Brokerage for Retail FX Brokers in the next quarterly report.