BNP Paribas Asset Management (BNPP AM)
A leading provider of quality investment solutions for individual, corporate and institutional investors around the world, BNPP AM aims to generate long-term sustainable returns for its clients, based on a sustainability-driven approach.
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They say it takes two to tango. Here, it took three. I cannot stress this enough: without the OMS we couldn’t do anything. The ability of Bloomberg to compromise, engage in creative thinking and find solutions was the most important thing to get us over the line.
Inés de Trémiolles, Global Head of Trading, BNP Paribas Asset Management
Situation
BNPP AM trades billions of euros in term deposits across different funds every day. However, its manual deposit trading process was convoluted, time consuming and posed operational risks. BNPP AM wanted to leverage automation to streamline the workflow and increase trading capacity.
Leading provider of quality investment solutions for individual, corporate and institutional investors
Wanted an e-trading solution for deposits that would enable it to move away from trading through IB chat
Looking to introduce automation to the workflow to improve efficiency, eliminate risks and, liberate capacity to trade increased flows
Problem
Every day BNPP AM transacts around €7 billion (equivalent in EUR, USD and GBP) in deposits across 10-25 orders for different funds. However, while an estimated 72% of FX instruments trade electronically today, deposit trading has remained a largely manual market.
Deposit trading is unlike other FX and remains a largely manual market
Approach was time consuming and posed operational risks
Solution
Bloomberg integrated its FXGO platform with BNPP AM’s third-party order management system, creating a solicited workflow for placing and booking deposit trades.
This e-trading solution utilizes automation to improve efficiency, minimize human error and improve order traceability for BNPP AM’s deposit trading.
Streamlined process that has successfully reduced operational risk and improved efficiency
Automated trading solution, integrating FXGO into the OMS platform in a solicited workflow
Global support team provides insightful solutions, available 24/7
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A workflow that incorporates straight-through processing (STP) – and gets away from the IB chat conversation – was very important for us.
Inés de Trémiolles, Global Head of Trading, BNP Paribas Asset Management
Benefits
Industry-leading order management system
Increased efficiency and minimized risk of human error
Seamless, solicited electronic workflow