European asset servicer BNP Paribas has contracted data management vendor ipushpull in an effort to provide more automation for asset managers’ non-standard trades.
The bank has implemented ipushpull’s PPQ platform which provides standardised messaging to the manual workflow used for complex trades, such as liability-driven investments, between buy and sell-side firms.
According to ipushpull, buy-side firms have long called for more digital processes for the pre-trade process which typically involve a combination to digital and voice trading interactions in addition to tasks performed using chat forums, email and spreadsheets.
The PPQ product uses chatbots and data mapping to introduce more automation.
“Complex derivatives are the next area where we are focused on process automation and improvement,” said Ben Harvey, senior LDI and macro rates sales from BNP Paribas.
“This also underlines our approach to the next generation dealing room and to further develop the non-price element of our customer offering.”
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