Crédit Agricole CIB (CACIB) has started to create bespoke algo innovations for clients using its internal algo toolbox. According to the bank, the move further increases the relevance of the existing algo suite in order to deliver the best results for its algo customers. “Understanding our clients’ needs is at the core of what we do. The goal is to deliver value and products by combining our expertise and pushing innovative solutions in a nimble way,” says Guillaume Carreno, Global Head of Electronic Client Connectivity at CACIB. Carreno shares the recent example of one client which had a specific need to manage their FX exposure throughout the day due to the specificity of their business. “The goal was to avoid a volatile and costly execution method from a risk transfer standpoint. To manage this, CACIB came up with a tailor-made solution that could run for an extended time period, across multiple time zones, allowing it to spread the balance sheet risk over a longer timeframe and minimise slippage cost per execution,” he adds. Carreno notes that offering bespoke capabilities also complements the traditional strategies that the bank offers its clients, including the XTX Execution Algo, which CACIB distributes thanks to its partnership with XTX Markets.
