BNP Paribas rolls out FX algos

BNP Paribas will this week launch its new forex algorithmic execution product, Cortex iX, in a bid to catch up with its competitors as algorithmic trading continues to gain traction in the foreign exchange market.

The new suite of execution algos will be offered through the bank's Cortex FX single-dealer platform, which was officially launched in March. According to Asif Razaq, global head of FX algo execution at BNP Paribas in London, Cortex iX – short for intelligent execution – is aimed at

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