Lloyds, BNP Paribas launch new FX algorithmic execution service

Clients are expected to execute large FX trades more efficiently.

British firm Lloyds Banking Group is partnering with BNP Paribas to launch FX Execution Algorithms (EAs).

This is expected to enable Lloyds’ clients in executing large FX trades more efficiently, whilst retaining transparency and control through transaction cost analysis (TCA), according to a statement by Lloyds.

Lloyds clients will gain access to the full algo technology stack, including flexible execution strategies tailored to individual trading objectives.

Clients can amend, pause, resume, or cancel orders mid-execution, while benefiting from real-time analytics, comprehensive TCA reporting, and dedicated user support, it added.

“As FX market and risk dynamics shift, integrating algorithmic execution technology into our Lloyds platform ensures we continue to offer market leading FX solutions to meet the needs of our clients,” said Rob Hale, head of financial markets, Lloyds.