BNP Paribas Securities Services adds forwards and swaps to its automated foreign exchange (FX) product and now offers auto-FX with 24 hour coverage on 44 currencies.
BNP Paribas Securities Services has enhanced its FX platform 'FOX' and now offers clients passive FX hedging. Based on simple rules (net asset valuation of the portfolio, deal size and portfolio hedging cycle), the new system is able to evaluate hedging needs linked to an investment and to process automatically forwards and swaps.
BNP Paribas Securities Services now also offers 24 hour FX coverage including additional autoFX batches via its European, Sydney and New York desks. It captures client FX orders on trade date, rather than the next day, hence minimising their exposure to FX volatility.
Florence Bonnevay, head of market and financing services, BNP Paribas Securities Services comments, 'In today's challenging environment, clients are under increasing pressure to manage costs more effectively and minimise operational risk by automating processes. Our new offer allows institutional clients to benefit from the comfort of having a comprehensive automated service that manages FX risk exposure on portfolios invested in currencies'.