Lloyds Bank partners with BNP Paribas to launch algorithmic FX execution service - Trade Treasury Payments

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Lloyds Bank partners with BNP Paribas to launch algorithmic FX execution service

Lloyds Bank has launched a new foreign exchange (FX) algorithmic execution service through a partnership with BNP Paribas. The initiative aims to enhance the bank’s FX offering for corporate and institutional clients by providing access to BNP Paribas’ algorithmic execution technology.

According to Lloyds, the service will allow clients to execute large FX trades with greater flexibility and oversight. Clients will be able to define execution strategies based on individual trading objectives and manage orders throughout the process. 

Execution algorithms have become increasingly common in the global FX market (particularly among buy-side participants) driven by growing interest in data-led execution tools and the need to demonstrate best execution in line with regulatory expectations. These tools are often used to manage significant currency exposures and can offer enhanced transparency over pricing and performance.

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.”

The partnership reflects a model in which banks combine internal infrastructure with external technology providers to broaden service offerings without building equivalent capabilities in-house. 

Lloyds did not disclose commercial terms or a timeline for further developments in its algorithmic execution strategy.