BNP Paribas and Enyx have announced a strategic partnership to ensure market data stability and quality for BNP Paribas Global Markets’ market access infrastructure.
BNP Paribas, as a strategic partner, will be represented at Enyx’s board of directors by Alexandre Benech, Global Co-Head of Electronic Market Making and Commerce, BNP Paribas. BNP Paribas has also selected Enyx’s nxFeedproduct for their high-performance market access in the Americas, Europe and Asia, and the two companies are teaming up to integrate their hardware acceleration technology to enable better efficiency in real time data processing.
“We are excited to partner with Enyx, a new and innovative company in a fast-growing field. It is essential for BNP Paribas Global Markets to be able to gather and analyse huge amounts of data very quickly; not only in relation to market access and market data, but with the growing importance of AI and big data to our daily trading and client business,” commented Alexandre Benech, Global Co-Head of Electronic Market Making and Commerce, BNP Paribas.
“This partnership demonstrates BNP Paribas’ agile approach to digital growth, as we work with external providers and the Fintech sector to actively incorporate leading edge technology with our own digital infrastructure.”
With the need for stable and quality data to stay competitive globally, players in financial markets are looking to companies such as Enyx to provide efficient and scalable solutions. The growing utilization of hardware acceleration technology in the financial markets, particularly over the last five years, means that stable and quality data can now be handled at extreme low latency.
Enyx’s nxFeed product presents many advantages as the fastest way to distribute market data strategies. Enyx’s nxFeed products already supports 42 markets in the USA, Asia and Europe and is looking to extend its overall coverage of 16 new markets in the next 18 months.
“We are honoured to have been chosen by BNP Paribas and to be recognized for our expertise in understanding the real challenges of today’s trading infrastructure. By designing and providing, not only leading edge market data processing products, but a wide range of technology and products that are part of today’s modern and globalized telecommunication infrastructure, Enyx is uniquely positioned to provide the knowledge that enables such long term and forward thinking deals to happen,” said Arnaud Derasse, CEO at Enyx.