The tournament is a Masters 1000 event on the men's tour and is a Premier Mandatory event on the women's tour having as main sponsor the French bank BNP Paribas. Between 1974 and 1990 it was a major tournament of the Grand Prix Tennis Tour and part of the Grand Prix Championship Series. The event, held in March, is one of two tour events (besides the Sony Ericsson Open in Key Biscayne, Florida) in which main draw play extends beyond eight days. The women's main draw usually starts on Wednesday and the men's main draw starts on Thursday. Both finals are held on Sunday of the following week. Both singles main draws include 96 players in a 128-player grid, with the 32 seeded players getting a bye to the second round.
The tournament is played on hard court and is the best attended tennis tournament outside the four Grand Slam tournaments, with over 300,000 visitors during the event. It has the second largest tennis stadium in the world.