BNPP launches hybrid NDF algos as electronic trading matures

Launch of BNP Paribas’s algos follows fast-growing demand for NDFs

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Accessing external trading venues and capturing spreads is a key feature of BNPP’s NDF algos

Responding to the swift expansion of non-deliverable forwards (NDF) trading and its steady growth as an electronic product over the past few years, BNP Paribas has launched a suite of algorithms designed to source the bank’s own liquidity for the product, alongside that of ECNs.

According to the most recent semi-annual FX turnover figures released by the Bank of England, the average daily volume of NDF transactions conducted in London stood at $137 billion in April, more than double the $64

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