Lloyds taps BNP Paribas to power FX algo offering for clients

By Puja Sharma

• Lloyds has partnered with BNP Paribas to deliver FX Execution Algorithms to clients
• The strategic partnership will offer market-leading algo capabilities for Lloyds’ clients
• The collaboration supports Lloyds’ broader digital FX strategy while delivering an enhanced, technology-driven client experience

Lloyds Bank has teamed up with BNP Paribas to offer its clients advanced FX execution algorithms. The partnership will help corporate and institutional clients trade large foreign exchange deals more efficiently, with greater control and transparency.

The partnership will see Lloyds deliver an FX Algorithmic Execution Service supported by BNP Paribas’ leading-edge solutions, which will help clients execute large FX trades more efficiently while retaining transparency and control through robust Transaction Cost Analysis (TCA). Execution Algorithms now represent a growing share of global spot FX volumes, particularly among buy-side participants, as demand for data-driven execution continues to rise. These tools offer sophisticated capabilities for hedging large exposures and can provide clients with detailed analytics to support trading decisions, helping to demonstrate the best execution.

Lloyds clients will gain access to the full algo technology stack, which includes flexible execution strategies tailored to individual trading objectives. This will allow users to define strategies aligned with their risk appetite, supported by interactive features such as limit pricing and start/stop times.

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

Rob Hale, Head of Financial Markets at Lloyds, said: “This partnership marks a significant milestone in our commitment to continually invest in enhancing our clients’ experience. 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.”

Asif Razaq, Global Head of FX Automated Client Execution at BNP Paribas, added: “We’re excited to partner with Lloyds and to expand the availability of next-generation algorithms to a new group of clients. We are actively expanding our footprint using exclusive offerings in target markets as we continue to develop and refine our platform.”